Highlights of the day: 31 May

FinMeUp highlights of the day

South Africa

Gold Fields Limited

• Gold Fields is acquiring Canada's Yamana Gold in a share-based deal worth R104bn.
• The transaction will create a diversified top-4 gold global major with a diversified portfolio of high-quality, long-life assets with tangible near and long-term growth opportunities.
• Combined group has operations across Canada, Australia, South America, Ghana and South Africa.
• Combined group will be headquartered in Johannesburg.

Reinet Investments S.C.A. - Financial results for the year ended 31 March 2022

• The companys net asset value of EUR 5.9 billion reflects a compound growth rate of 9.7 per cent per annum in euro terms, since March 2009, including dividends paid.
• The company significantly reduced the level of debt.
• The company paid a dividend of EUR 0.25 per share during the year.

Famous Brands Limited- Summarised results for the year ended 28 February 2022

• Revenue grew 38% to R6.5 bn.
• HEPS grew 568% to 356 cents.
• Operating profit grew 428% to R630 m.
• Operating profit margin was 9.7%.
• The company says it's seeing the worst food price inflation in beef, green coffee beans, milk and whey powders, oil and spices.
• Famous Brands will relocate its distribution centre in KwaZulu-Natal, which was damaged in the riots last year.
• Famous Brands says restaurants in the UK are struggling to find employees.

U.S.

Tesla

• Tesla has restored weekly output at its Shangai Gigafactory to nearly 70% of its pre Covid-19 lockdown level.
• According to Elon Musk, Bill Gates would need between $1.5 billion - $2 billion to close out his Tesla Short position.

Netflix

• Season four of stranger things has reportedly cost around $30 million per episode to make.

Apple

• Apple was awarded a patent for a "Watch having a camera".

Verizon

• Verizon declared a quarterly dividend of $0.64 per share, which is unchanged from its previous dividend.

Biggest winners and losers: 

JSE

• Kumba Iron Ore +3.73%
• Goldfields -19.79%

US

• Pinduoduo +6.72%
• Illumina -6.29% 

Crypto

• Bitcoin +4.6%
• Ethereum +2.7%
• Cardano +17.2%