The Daily Update: 18 January

The latest updates from the JSE and NYSE over the past 24 hours

South Africa

Steinhoff International Holdings N.V.

• Steinhoff International has raised $342 million from selling 38 million Pepco shares.

Compagnie Financière Richemont SA- Sales update

• Sales have increased 18% for the nine months ended 31 December 2022.
• The Groups net cash position has grown by EUR 0.6 billion to EUR 5.5 billion.

Coronation Fund Managers

• Coronation has announced that total assets under management are R602 billion, up from R574 billion in the previous quarter.

The U.S.

Apple: VR

• Apple is working on a cheaper mixed-reality headset to reach more customers.
• Apple's first AR/VR headset coming later this year will be priced somewhere around $3000, but a future version will be more affordable.
• The headset will reportedly compete with Meta's mixed-reality headset, which is priced at $1500.

Apple: MacBook Pro

• Apple has just unveiled a new MacBook Pro with the M2 Pro and M2 Max.
• The new 14-inch MacBook Pro with M2 Pro starts at $1999, and the 16-inch MacBook Pro with M2 Pro starts at $2499.
• Apple has also just unveiled its newest in-house chips the M2 Pro and M2 Max.

Roblox

• Roblox had 61.5 million daily active users in December 2022, up 18% YoY.
• Revenue is expected to be between $189M and $199M which represents a decrease of between 1-6% YoY.

United Airlines Earnings

• EPS of $2.46 beating expectations of $2.12.
• Revenue of $12.40B beating expectations of $12.23B.

Microsoft

• Microsoft reportedly plans to fire about 11,000 employees which represent around 5% of its workforce.