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The Daily Update: 19 April

March 4, 2024
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FinMeUp
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FinMeUp

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.

 

 

 


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