2023-08-02 13:07:00
(AOF) – US indices should start the session down after the degradation of the US rating by Fitch. The financial rating agency lowered it by one notch, from AAA to AA+, a first since 2011. Fitch justifies himself by referring to a constant deterioration of governance standards on the country’s debt ceiling. In terms of statistics, job creations came out well above expectations in July, according to the ADP report. A few minutes before the first transactions, futures on the S&P and those on the Nasdaq fell by 0.59% and 0.79% respectively.
Yesterday on Wall Street
US equity markets closed the first session of August in mixed order. In the macroeconomic chapter, the ISM index of manufacturing activity in the United States for July disappointed, standing at 46.4, against a consensus of 46.8 after 46 in June. On the stock side, Uber plunged more than 5% despite a stronger-than-expected profit in the second quarter. For its part, Caterpillar soared more than 8% after announcing a near doubling of its net profit. The Dow Jones gained 0.2% to 35,630.68 points while the Nasdaq fell 0.43% to 14,283.91 points.
Macroeconomic figures
Non-agricultural job creations amounted to 324,000 in July against a consensus of 189,000 after 455,000 in June, according to the ADP report.
Crude oil inventories in the United States will be known at 4:30 p.m.
The values to follow
AMD
In the second quarter of 2023, AMD (Advanced Micro Devices) unveiled net income down 94% year-on-year to $27 million compared to $447 million in the first quarter of 2022. Over this period, its gross margin stabilized at 46%. In addition, the American semiconductor manufacturer posted an operating loss of $20 million this quarter against an operating profit of $526 million a year ago. Its diluted earnings per share fell from 0.27 cents to 0.02 cents. Its sales fell by 18% from 6.55 to 5.35 billion dollars.
Chesapeake Energy
In the second quarter of 2023, the American natural gas producer Chesapeake Energy posted net income of $391 million, or $2.73 per diluted share. This has fallen sharply compared to the $1.23 billion in profits made a year ago during the same period. Its adjusted Ebitdax fell in the quarter from $1.26 billion to $524 million. During the second quarter of 2023, Chesapeake generated $515 million in operating cash flow compared to $919 million a year ago.
Electronic Arts
A global developer and producer of video games, Electronic Arts (EA) posted net income in the first quarter of 2023/2024 of $402 million compared to $311 million a year ago during the same period. In this quarter, its operating cash flow was $359 million, compared to negative $78 million a year ago. Its net turnover amounted to 1.924 billion dollars in this first quarter against 1.76 billion dollars a year ago at the same period.
Pinterest, whose share fell 2.6% in pre-market, published results above expectations in the second quarter. The image platform posted revenues up 6% to $708 million, against the consensus of $696 million. Adjusted earnings per share were 21 cents, versus 12 cents consensus. The group anticipates an increase in its margin for the whole of the year, thanks to a recovery in the market and a drop in its costs.
Starbucks
The American coffee chain Starbucks, whose title fell 2% in pre-market trading, published third-quarter 2023 sales on Tuesday below market expectations, in a context of falling demand in North America and internationally despite the rebound in China. In this quarter, adjusted earnings per share are 1 dollar against 95 cents consensus and 0.84 cents a year ago (an increase of 19%), with the improvement in productivity and the rise in prices. The operating margin reached 17.4% against 16.9% a year earlier, beating the consensus.
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