(AOF) – Wall Street is moving with caution this Wednesday as the war in Ukraine is still ongoing. The two fighters evoke a “difficult” discussion. In addition, Joe Biden is expected to attend the NATO-G7 summit in Brussels. On this occasion, new Western sanctions on Russia may be announced. On the equity side, unlike General Mills, Adobe’s outlook is disappointing. At around 5:10 pm, the Dow Jones fell 0.85% to 34,512.46 points and the Nasdaq Composite Index fell 0.22% to 14,078.26 points.
It fell to the bottom of the S & P 500 and fell 9.66% to $ 421.41 with a disappointing outlook. If overall profit and revenue forecasts don’t live up to expectations, analysts more specifically point out the $ 440 million annual recurring revenue target for digital media in the second quarter. JPMorgan emphasizes a slowdown from last year’s $ 518 million. Analysts believe that this decline does not just reflect the effects of the war in Ukraine.
Today’s economic figures
In the United States
Sale of new homes
Compared to the January 2022 788,000 (801,000 modified figures) and 820,000 Briefing.com consensus, it rose to 772,000 on an annual basis in February 2022.
In the United States, the index of the Conference Board’s key indicators increased by 0.3% in February 2022 after a 0.5% decrease in the previous month (the figure has been revised from -0.3%).
Value to follow today
Publishing and marketing software maker Adobe reported better results than expected, but the goal was disappointing. Net income for the first quarter, which ended in early March, was $ 1.27 billion ($ 2.66 per share), compared to $ 1.26 billion ($ 2.61 per share) in the year-ago quarter. Excluding exceptional items, earnings per share was $ 3.37, three cents above consensus.
Things are going on with the files of the Boeing 737-800 crash of China Eastern Airlines. In fact, I found one of the two black boxes on the device. It was announced Wednesday by a representative of the Civil Aviation Administration of China (CAAC). I’m still not sure if this is a cockpit voice recorder or a flight data recorder. To be on the safe side, the disaster occurred on Monday in southeastern China. More than 130 people were on board the plane connecting Kunming and Guangzhou.
After a 30% surge the day before, GameStop scored 13% in its pre-opening on Wall Street on Wednesday. Millionaire Ryan Cohen’s investment company, RC Ventures, has acquired 100,000 shares of video game distributors for more than $ 10 million, according to a stock market announcement released Tuesday.
General Mills has raised its 2022 target in the wake of better-than-expected quarterly results. This will end at the end of May. Therefore, the Agrifood Group in the United States is now aiming for growth of about 5% in net organic sales, compared to the previous range of 4% to 5%. At the same time, adjusted earnings per share are expected to increase by 0% to 2% at constant exchange rates compared to the previous range of -2% to + 1%.
Stellantis and LG Energy Solution (LGES) have signed a formal agreement to establish Canada’s first large-scale electric vehicle battery plant. The joint venture will produce state-of-the-art lithium-ion battery cells and modules to nearly meet the production requirements for Stellantis vehicles in North America. The joint venture will invest more than C $ 5 billion to establish its activities, including the establishment of a brand new battery plant in Windsor, Ontario.