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Dow 32,856.46 -574.98 -1.72%
S&P 500 3,986.37 -62.05 -1.53%
Nasdaq 11,530.33 -145.40 -1.25%
VIX 19.59 0.98 5.27%
Gold 1,817.60 -37.00 -2.00%
Oil 77.21 -3.25 -4.04%
BITCOIN 22,090CrowdStrike (CRWD) beats by $0.04, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs in-line
CRWD up 6.1%
Yext (YEXT) beats by $0.02, beats on revs; guides Q1 EPS above consensus, revs below consensus; guides FY24 EPS above consensus, revs below consensus…
YEXT down 5.3%
Stitch Fix (SFIX) misses by $0.25, reports revs in-line; guides Q3 revs in-line; announces new CFO, effective April 3.
SFIX down 2.0%WeWork (WE) ticks slightly higher on report that it’s in talks to restructure over $3 bln in outstanding debt, according to the New York Times… WE up 3%
PayPal (PYPL) CFO Blake Jorgensen stepping down, effective immediately; will remain with company as senior advisor through September 15, 2023… PYPL down 0.3%
Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note, weighed down by hawkish commentary from Fed Chairman Powell.
—Equity Markets—
Japan’s Nikkei: +0.5%
Hong Kong’s Hang Seng: -2.4%
China’s Shanghai Composite: -0.1%
India’s Sensex: +0.2%
South Korea’s Kospi: -1.3%
Australia’s ASX All Ordinaries: -0.8%Japan’s Upper House will vote on the nominations to the Bank of Japan on Friday.
Japan’s January Current Account deficit JPY1.977 trln (expected deficit of JPY818 bln; last deficit of JPY33 bln). January Leading Index -0.4% m/m (last -0.4%) and Coincident Indicator -3.0% m/m (last -0.2%). February Bank Lending 3.3% yr/yr (last 3.1%) and February Economy Watchers Current Index 52.0 (expected 49.1; last 48.5)
Reserve Bank of Australia’s Governor Lowe said that the central bank is getting closer to a point where a pause in rate hikes will be appropriate.
Australia’s Prime Minister Albanese will travel to Washington after this weekend’s trip to India.
Major European indices trade near their flat lines.
STOXX Europe 600: +0.1%
Germany’s DAX: +0.4%
U.K.’s FTSE 100: +0.1%
France’s CAC 40: UNCH
Italy’s FTSE MIB: +0.3%
Spain’s IBEX 35: +0.4%European Central Bank policymaker Knot said that the ECB will continue raising rates for “quite some time” after the March meeting while policymaker Visco said that he does not appreciate other members discussing a prolonged rise in rates.
Swiss National Bank President Jordan said that monetary policy remains too loose. Tiremaker Continental expects rising sales and margin improvement in 2023.
Eurozone’s Q4 GDP 0.0% qtr/qtr (expected 0.1%; last 0.3%); 1.8% yr/yr (expected 1.9%; last 2.3%). Q4 Employment Change 0.3% qtr/qtr (expected 0.4%; last 0.3%); 1.5% yr/yr (expected 1.7%; last 1.8%)
Germany’s January Retail Sales -0.3% m/m (expected 2.0%; last -5.3%); -6.9% yr/yr (expected -6.1%; last -6.4%). January Industrial Production 3.5% m/m (expected 1.4%; last -2.4%)
Diversey Holdings (DSEY 8.22, +2.27, +38.2%): to be acquired by Solenis for $4.6 bln, or $8.40/share
Shoals Technologies (SHLS 24.35, -2.20, -8.3%): prices secondary offering of 24,501,650 shares of common stock by certain selling stockholders at $24.70 per share
Tesla (TSLA 184.87, -2.84, -1.5%) downgraded to Hold from Buy at Berenberg
Scorpio Tankers (STNG 61.74, +1.33, +2.2%): JPMorgan initiated coverage at Overweight
United Natural Foods (UNFI 32.09, -8.87, -21.7%): misses by $0.66, reports revs in-line; guides FY23 EPS below consensus, raises revs in-line
Campbell Soup (CPB 52.95, +0.82, +1.6%): beats by $0.06, beats on revs; raises lower end of guidance for FY23 EPS in-line, raises revs above consensus
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