Highlights of the day: 3 August

FinMeUp highlights of the day

South Africa

Naspers & Prosus- Update on repurchase program

• For the period between 25 July 2022 and 29 July 2022, The Group repurchased 3 303 295 Prosus Shares for a total consideration of US$221 860 592.
• The Group also repurchased 659 095 Naspers shares for a total consideration of US$98 040 178.

ABSA Group Limited- Further trading statement for the six months ended 30 June 2022

• Absa Groups IFRS HEPS is expected to be between 1252 and 1302 cents, representing an increase of between 27% and 32%.
• IFRS EPS is expected to be between 1229 and 1278 cents, representing an increase of between 25% and 30%.

African Rainbow Capital Investments Limited

• ARC Investments announced that TymeBank South Africa intends to acquire Retail Capital.
• Retail Capital is a leading fintech funder of small and medium enterprises.
• The proposed transaction, which is subject to regulatory approvals, would see Retail Capital become a division of TymeBank and forming the foundation of its expanded business banking offering.

The U.S.

Robinhood

• Robinhood has said that they are reducing their headcount by about 23%.

Occidental earnings

• EPS of $3.16 beating expectations of $3.07.
• Revenue of $10.68B beating expectations of $9.96B.

AMD earnings

• EPS of $1.05 in line with expectations.
• Revenue of $6.55B beating expectations of $6.53B.

Starbucks earnings

• EPS of $0.84 beating expectations of $0.75.
• Revenue of $8.15B beating expectations of $8.10B.

PayPal earnings

• EPS of $0.93 beating expectations of $0.86.
• Revenue of $6.81B beating expectations of $6.78B.
• PayPal have also authorized a new $15B share buyback program.

Electronic Arts earnings

• EPS of $0.47 beating expectations of $0.28.
• Revenue of 1.30B missing expectations of $1.32B.

Moderna earnings

• EPS of $5.24 beating expectations of $4,59.
• Rev of $4.70B beating expectations of $4.07B.
• They also announced a new $3B share buyback program.

Biggest winners and losers

JSE

• Naspers +3.71%
• Harmony Gold +3.06%

U.S

• PayPal +13.7%
• AMD -5.65%

Crypto

• Bitcoin +2.7%
• Ethereum +5,6%
• BNB +5.0%