The Daily Update: 19 April

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

South Africa

Purple Group Limited

• EasyEquities partnered with GCash, the largest mobile wallet in the Philippines to offer managed portfolios of US shares to Filipinos.
• The partnership will be launched with a Fantasy Investing Game in June 2023, allowing GCash clients to invest in real markets with fantasy money and win prizes.
• This is the same method EasyEquities used to successfully launch in South Africa.
• GCash and EasyEquities have been meeting regularly with the Securities and Exchange Commission (SEC) in the Philippines to ensure compliance and approval for the real product launch.
• The SEC played a role in bringing the parties together to launch the fantasy investment game and educate first-time investors.
• The partnership aims to make investing more accessible, friendly, and affordable for everyone in the Philippines.

Zeder Investments Limited- Reviewed Results For The Year Ended 28 February 2023

• Net asset value per share fell by 44.2% to R2.60.
• Attributable earnings per share decreased from 52.1 cents to a loss of 12.1 cents.
• Profit before taxation from continued operations increased by 375% to R38m.
• Zeder Africa disposed of all its shares to ForAfric for R160m, and the Group sold its shares in The Logistics Group..
• The business environment and outlook remained relatively constrained due to continued supply chain constraints and the impact of load-shedding and political instability.

The U.S.

Disney

• Disney plans to cut thousands of jobs next week including about 15% of the staff in its entertainment division.
• These cuts are a part of its restructuring plan announced in February which included a reduction to its workforce by 7 000 employees.

Morgan Stanley Earnings

• EPS of $1.70 beating expectations of $1.65.
• Revenue of $14.52B beating expectations of $14B.

Netflix Earnings

• EPS of $2.88 beating expectations of $2.87.
• Revenue of $8.16B missing expectations $8.18B.
• Net new subscribers of 1.75M missing expectations of 2.4M.

Google

• Google is planning to launch its first foldable smartphone the "Pixel Fold" in June at a cost upwards of $1 700.

Goldman Sachs Earnings

• EPS of $8.79 beating expectations of $8.06.
• Revenue of $12.22B missing expectations of $12.66B.

Lockheed Martin Earnings

• EPS of $6.61 beating expectations of $6.06.
• Revenue of $15.13B beating expectations of $15.01B.