Highlights of the day: 14 June

FinMeUp highlights of the day

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South Africa

Telkom SA SOC Limited- Group annual results for the year ended 31 March 2022

• Revenue decreased 1.1% to R42.8 billion.
• HEPS grew 2.5%.
• Basic EPS grew 1.4%.
• Active mobile subscribers up 10.5% to 16.9 million.
• Mobile broadband customers at 10.7 million.
• The company made a net profit of R2.6 billion in the year to March, which is unchanged from the year before.
• Debt has increased and cash balances are down, which is a concern considering that interest rates are rising.

Sibanye Stillwater Limited

• A flood event in Montana has affected the Stillwater mine and ultimately the US PGM operations.
• The flooding of numerous rivers in the region and a warm spell has led to a rapid melt of accumulated snow in the mountains.
• Roads and bridges have been damaged, thus restricting access to the mine.
• Once the flood has subsided, the company will access the impact of the operations and update the market most likely in a few days.

U.S.

Microsoft

• Microsoft has announced that it is officially shutting down Internet Explorer on June 15th.

Sofi

• SoFi CEO Anthony Noto today bought 46.5K more shares of Sofi stock at an average price of $5.37 per share
• Since March 2022, he has purchased 218,353 shares of the company at a total value of $1,614,241.69.
• He now owns 3,513,501 shares that have a value of $19,710,740.61.

Twitter

• Elon Musk will reportedly attend an all hands meeting at Twitter this week.
• This will be Elons first time talking directly to Twitters staff since launching his $44 billion acquisition according to Business Insider.

Disney

• Disney and Viacom18 have reportedly won the five-year media rights for the Indian Premier League cricket tournament according to Tech Crunch.
• "Disney acquired the TV rights to broadcast the matches in the Indian subcontinent for $3 billion".

Coinbase

• Coinbase has announced a restructuring plan that involves reducing its workforce by 18% or about 1,100 employees.

Biggest winners and losers

JSE

• Karooooo +9.42%
• Thungela -8.68%

US

• Pinduoduo +7.21%
• Illumina -2.22% 

Crypto

• Bitcoin -4.0%
• Ethereum +2.1%
• Cardano +10.2%