TOP 5 STOCKS TO WATCHOUT:-
1.BNP PARIBAS :France’s largest bank BNP Paribas has cut off its Russia-based workforce from its internal computer systems as it seeks to bolster its defenses against any potential cyberattack, a source with direct knowledge of the matter told Reuters.
The French lender, believed to be the first major bank to have jettisoned staff in Moscow from its IT networks, has also placed employees in other locations on high alert for cyber threats emanating from Russia, following its invasion of Ukraine, an internal memo seen by Reuters showed.
The move, aimed at protecting the bank from cybercriminals who could use the local network as an access point, also further distances its shrinking Russian operations from the rest of the group.
Banks are grappling with an unprecedented wave of Western sanctions designed to smother President Vladimir Putin’s aggression by sparking domestic economic chaos, while any counter-sanctions from Moscow could abruptly end lenders’ relationships with one of the globe’s biggest energy producers.
2.TESLA: Electric-car maker Tesla Inc on Wednesday raised prices of its U.S. Model Y SUVs and Model 3 Long Range sedans by $1,000 each and some China-made Model 3 and Model Y vehicles by 10,000 yuan ($1,582.40), according to its website.
The company increased prices for the most affordable versions of Model 3 and Model Y about a dozen times last year in the United States, according to data tracked by Reuters.
The U.S. price of the EV maker’s Model Y Long Range car has jumped 20% from January 2021, along with a 10.6% hike for its Model 3 Long Range sedan during the same period.
The move comes amid surging raw material costs, made worse by Russia’s invasion of Ukraine, and could set back the dream of Tesla Chief Executive Elon Musk and other auto executives to roll out more affordable electric vehicles.
3.AMAZON:-.Amazon.com Inc said on Wednesday its board approved a 20-for-1 split of the e-commerce giant’s common stock and authorized a $10 billion buyback plan, sending the company’s shares up 7% in extended trading.
This is the first stock split by Amazon since 1999 and will give investors 19 additional shares for every share they hold. Trading based on the new share price will begin on June 6.
Amazon’s share split is similar to the one announced by Google parent Alphabet Inc last month. Several mega-cap companies such as Apple Inc, Tesla and Nvidia have split their stocks since 2020.
Amazon’s stock, which closed at $2,785.58 on Wednesday, has nearly doubled over the last two years when demand for both its e-commerce and cloud computing business surged in the wake of the COVID-19 pandemic.
“This split would give our employees more flexibility in how they manage their equity in Amazon and make the share price more accessible for people looking to invest in the company,” an Amazon spokesperson said.
4.UNICREDIT:–Italy’s UniCredit and France’s BNP Paribas were the latest banks to set out their Russian exposures, warning of billions of euros in potential costs from the financial fallout from Moscow’s invasion of Ukraine.
Banks, insurers and asset managers have been scrambling to distance themselves from Russia and assess their exposures after Moscow was hit with heavy sanctions by the West in the wake of the invasion of Ukraine that began last month.
Russia calls its actions in Ukraine a “special operation.”
BNP Paribas has also cut off its Russia-based workforce from its internal computer systems as it seeks to bolster its defences against any potential cyberattack, a source with direct knowledge of the matter told Reuters.
The French lender is believed to be the first major bank to have excluded staff in Moscow from its IT networks.
Citigroup Inc said on Wednesday it is operating its Russian consumer business on a more limited basis following the country’s invasion of Ukraine while sticking with its previous plans to divest the franchise.
5.AIRBNB:-Airbnb said it was working with its hosts to offer free, short-term housing to up to 100,000 refugees from Ukraine, and that it was temporarily waiving its booking fees there.
Nordic Choice offered free lodging in its Vilnius hotel, while Poland’s Arche Hotels said three days after Russia launched the invasion that it had already put up 1,000 refugees as it prepared to lodge 5,000, and called for clothes, Polish language books and toy donations for children fleeing Ukraine.