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Highlights of the day: 17 May

April 17, 2024
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FinMeUp highlights of the day

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Pick n Pay - Audited consolidated results for the year
Sales increased 5.2% to R97.9 billion.
Gross margins decreased by 1% from 19.8% to 18.8%.
Trading expenses increased 4.2% to R18 014.7 million.
Net finance costs decreased 6.7% to R1 150.4 million.
Profit before tax and capital items rose 16.3% to R1 807.7 million.
Basic EPS rose 25.1% to 253.34 cents.
HEPS rose 14.5% to 262.59 cents.
Total dividend per share of 221.15 cents, which represents an increase of 23%
Pick n Pay kept selling prices below inflation but expects "significant inflationary & other cost pressures" this year.

Discovery Bank
Discovery Bank now has more than 400,000 clients and R9.5 billion in retail deposits.
Discovery is adding about 750 new clients every day.
Discovery believes it already has a 20% market share in South Africa's high-net-worth credit card market.

Apple
Apple is partnering with multiple podcast platforms for subscriptions.
Michael Burry, the man who was one of the first investors to predict and profit from the subprime mortgage crisis that occurred between 2007 and 2010, has bet against Apple.

Microsoft
CEO Satya Nadella has told employees that raises are coming.
Microsoft is planning to "nearly double" its budget for employee salaries.

New York Stock Exchange
The New York Stock Exchange was formed on this day in 1792.

Electric vehicles: 
Q1 2022 - Most sold EVs in the US
Tesla Model Y - 52,051
Tesla Model 3 - 47,682
Tesla Model S - 9,250
Ford Mustang Mach-E - 6,957
Hyundai Ioniq 5 - 6,265
Kia EV6 - 4,901
Tesla Model X - 4,899
Nissan Leaf - 4,401
Kia Niro - 3,549
Volkswagen ID4 - 2,926

Walmart Q1 Earnings
Revenue: $141.57B vs. $138.94 Expected.
EPS: $1.30 vs. $1.48 Expected.

Twitter
Elon Musk says his deal for Twitter cannot move forward until CEO Parag Agrawal proves that less than 5% of Twitter's user base is bots.

Home Depot Q1 Earnings
Revenue: $38.91B vs. $36.78B Expected.
EPS: $4.09 vs. $3.70 Expected.

Google
The Bill & Melinda Gates Foundation sold all its $GOOG and $GOOGL shares in Q1.

Citigroup Inc
Berkshire Hathaway bought more than 55 million shares of Citigroup.

AMD
AMD and Qualcomm are partnering to optimize FastConnect connectivity solutions for AMD Ryzen processors.

Biggest winners and losers: 
JSE
Prosus +7.12%
Gold Fields -3.40% 

US
AMD +5.52%
Okta -4.11% 

Crypto
Bitcoin +1.9% 
Ethereum +2.9% 
Solana +5.3%

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