11/8/2023 7:27 PM
Wall Street, more specifically the broad S&P 500 index, is on a seven-day streak of gains. So far, today looks like breaking that streak. No major numbers came out of the world of macro data today, so investors could fully focus on the quarterly results of individual companies. First and foremost, it is the leading company in the entertainment industry, Warner Bros. Discovery, which presented numbers basically in line with expectations, but the outlook sounds quite negative. The ongoing actors’ strike will have a significant impact on next year’s results, and the decline in subscribers will play a negative role. The platform for traders Robinhood markets (HOOD -14.45%) is in a similar situation. The company suffers from a year-on-year decrease in traded volumes and the consequent decrease in fee income. In the opposite situation is the gaming platform for young people Roblox (RBLX +13.89%). The company beat analysts’ estimates across the board. In particular, it was acknowledged that the number of users increased by 20% year-on-year and that sales grew by the same percentage. Even so, this company is losing nearly $0.50 per share per quarter, and the road to profitability is thorny. Even Rivian (RIVN -3.3%) presented a decent performance compared to analysts’ estimates, but is still in a heavy loss. This manufacturer of large electric pickup trucks has ended its exclusive partnership with Amazon and can thus supply cars to other customers. However, the company burns cash quickly and the need for an increase in the form of share subscription is real.
US bond yields are cosmetically down today. The dollar stagnates and oil weakens by 2.4%.
S&P 500 index -0.08% to 4374.77 b.
Dow Jones -0.28% to 34056.27 b.
Nasdaq Composite Index -0.12% to 13624.118 b.
| S&P 500 index -0.08 to 4374.77 b. | |||
|---|---|---|---|
| S&P Strongest Sectors | Change | Weakest S&P sectors | Change |
| Information Technology | +0.4% | Utilities | -1.5% |
| Reality | +0.2% | Energy | -1.1% |
| Industry | +0.2% | Necessary consumption | -0.6% |
| S&P Strongest Stocks | Change | S&P’s weakest stock | Change |
| Extra Space Storage (EXR) | +9.1% | Warner Bros Discovery (WBD) | -16% |
| Take-Two Interactive Software (TTWO) | +6.8% | Paramount Global (STEAM) | -7.2% |
| DaVita (TWO) | +5.5% | STERIS (you) | -5.6% |
| Jack Henry & Associates (JKHY) | +4.3% | Biogen (BIIB) | -5% |
| Mosaic (MOS) | +3.9% | INSULET CORP (PODD) | -4.3% |
Source: Reuters
Martin Varecha
Fio banka, a.s
Declaration
