Wall Street down but Mickey Mouse lifts the mood
Futures up on Wall Street driven by Disney. In the post-stock market, however, Disney’s accounts and the maxi-plan of cuts caused the stock to rise by 5%. The session ended lower troubled by some statements by the Fed in favor of maintaining high rates over the medium term and by weak quarterly reports. . The Dow Jones fell 0.61% to 33,954.18 points, the Nasdaq lost 1.68% to 11,912.19 points and the broader S&P 500 index dropped 1.11% to 4,117 .91 points. and the plan Fed Board of Governors member Christopher Waller said inflation looks set to slow this year, but the US central bank’s battle to meet its 2% target “could be a long battle.” ”,
THE STARS OF WALL STREET
ALI BABA
Closing at $105.7 (-0.37%). It would be developing its own service of artificial intelligence similar to ChatGPTproduced by OpenAI, according to press rumors.
ALPHABET [GOOGLE]
.Closed at $91.64 (-7%) Reuters reports that the new artificial intelligence chatbot gives wrong answers. It seems that the system started malfunctioning as early as launch.
CHIPOTLE MEXICAN
Closing at 1,637.41 (-5%) The Mexican food restaurant chain reported lower-than-expected quarterly earnings and like-for-like sales. RBC analysts report that even in the latter part of 2022 there was a weakening of low-end consumption, only partially offset by the growth of the high one.
META
Closed at $171 (-2.9%) Instagram is taking back what TikTok has taken from it in recent years, writes UBS . Analyst Lloyd Walmsley calculates that every ten percent of the gap is recovered in the time spent by users on the two social platformsis worth a 1.4% increase in Meta’s consolidated revenues
MICROSOFT
Closing $250 (-4%) UK Antitrust Authority Says Microsoft’s $69 Billion Acquisition of ACTIVISION BLIZZARD Could Harm Consumers. The Competition and Markets Authority (CMA) said the acquisition would likely lead to higher prices, less choice and less innovation for UK gamers, putting Microsoft in a position that would hurt the competition. The CMA has sent a letter to Microsoft and Activision Blizzard proposing possible solutions — which aren’t publicly known — and the companies have until February 22 to respond. The CMA’s final decision is expected on April 26: it could force the companies to implement remedies or decide to stop the acquisition.
Separately, Microsoft has announced the launch of a new version of Bing entirely based on artificial intelligence, which will allow users to dialogue naturally with the search engine.
UBER
Closed at $36.83 (-5.63%) The quarterly results are higher than expected. The fourth quarter closed with revenues of 8.6 billion, +49% on an annual basis, analysts had expected 8.5 billion. Earnings per share came in at $0.29, expectations were for a loss of -0.18 dollars.
WALT DISNEY
Closed at $111.78 (+0.13%). Mickey does not save himself from the cuts. Walt Disney plans to reduce its workforce by 7,000, or 3 percent of the total, as part of a restructuring plan that aims to realize $5.5 billion in savings over the next five years. The accounts were presented in the post-market and the stock gets to gain 5%
ZOOM
It closed at $19.35 (-6.27%). The company said it intends to lay off 1,300 employeesabout 13% of the total. In addition, executives will cut their paychecks.
ASIA
Driven by Wall Street futures, Chinese stocks opened higher after a session that started lower. CSI 300 of the Shanghai and Shenzen price lists +1.2%. Hong Kong’s Hang Seng +0.8%. Tokyo’s Nikkei is down slightly