Top 5 Stock To Watch out And Trade Today – March 21, 2022

Top 5 Stock To Watch out And Trade Today – March 21, 2022

Best Stocks to Buy Today


1.AMAZON:- Workers at Inc seeking to organize a warehouse in Alabama after a bruising defeat last year have been invigorated by a resurgent labor movement, bringing energy to the campaign despite the long odds they face.

The vote by Bessemer warehouse employees concludes this month after the U.S. National Labor Relations Board found Amazon improperly interfered in the previous union election.

Given the retail giant’s two-to-one margin of victory in the original contest, the workers trying to bring the first-ever union to a U.S. Amazon warehouse face a tall order.

Yet since the last vote, the American labor movement has gained momentum, motivated by the high-profile Alabama campaign, ongoing pandemic concerns and strikes.

The administration of U.S. President Joe Biden has vowed to implement policies to make it easier for workers to organize. Approval for unions is the highest since 1965, a Gallup poll showed last year.

Amazon employee Braxton Wright, 39, said that while he was hopeful for a win, even a near miss for the union in Bessemer would help others see that organizing is possible.

2.BOEING: A China Eastern Airlines  passenger jet with 132 people on board crashed in the mountains of southern China on Monday while on a flight from the city of Kunming to Guangzhou,

The jet involved in the accident was a Boeing  737 aircraft and the number of casualties was not immediately known, state broadcaster CCTV said. Rescue services were on their way to the scene, it said. There was no word on the cause of the crash.

The plane was a 6-year-old 737-800 aircraft, according to Flightradar24.

“Can confirm the plane has crashed,” China Eastern Airlines said in a statement in which it also gave details of a hotline for relatives of those on board.

The aircraft, with 123 passengers and nine crew on board, lost contact over the city of Wuzhou, China’s Civil Aviation Administration of China (CAAC) and the airline said.

CAAC said an emergency team had been sent to the crash site. Media cited a rescue official as saying the plane had completely disintegrated. A fire sparked by the crash destroyed bamboo and trees before being put out, media reported.

The flight departed the southwestern city of Kunming at 1:11 p.m. (0511 GMT), FlightRadar24 data showed, and had been due to land in Guangzhou, on the south coast, at 3:05 p.m. (0705 GMT).

The plane had been cruising at an altitude 29,100 feet at 0620 GMT, according to FlightRadar24 data. Just over two minutes and 15 seconds later, the next available data showed it had descended to 9,075 feet. In another 20 seconds, its last tracked altitude was 3,225 feet.

The website of China Eastern Airlines was later presented in black and white, which airlines do in response to a crash as a sign of respect for the assumed victims. Boeing China’s website also switched to black and white.

Shares of Boeing Co were down 6.4% at $180.44 in premarket trade. Boeing did not immediately respond to a request for comment.

Shares in China Eastern Airlines in Hong Kong closed down 6.5% after news of the crash broke, while its onshore-listed shares ended up 2.2%.

Aviation data provider OAG said this month that state-owned China Eastern Airlines was the world’s sixth-largest by scheduled weekly seat capacity and the biggest in China.

 3.NIKE:-Wall Street is taking a gloomy view of Nike Inc ahead of its quarterly results on Monday, as rising COVID-19 cases in China, the Russia-Ukraine crisis and lingering supply issues threaten to hit the sportswear giant’s 2022 sales.

At least 10 brokerages have cut the stock’s price targets this week on fears that a lift from strong sneaker demand in North America will be offset by persistent shortages, stemming from factory closures in top supplier Vietnam last year.

Nike’s current quarter is also expected to take a hit from stalling shopping traffic in China due to rising COVID infections and the decision to temporarily shutter stores and online business in Russia, following Moscow’s invasion of Ukraine.

“The recent rise in geopolitical uncertainty, increase in oil prices, and growing strength of the U.S. dollar present risk of slowing growth for Nike’s international segments ahead,” Jefferies analysts said.

4.VOLKSWAGEN:-Volkswagen will form joint ventures with Huayou Cobalt and Tsingshan Group to secure nickel and cobalt supplies for electric vehicles in China, the world’s No. 1 car market, and to slash costs at a time of surging raw material prices.

The move is part of a 30 billion euro ($33 billion) push by the world’s second-largest carmaker to build a network of battery cell factories and secure more direct access to vital raw materials that are needed to supply them.

Volkswagen , Huayou Cobalt and Tsingshan have signed a memorandum of understanding for a joint venture in Indonesia, where more than 10% of the world’s laterite nickel ore reserves are located, to focus on nickel and cobalt raw material production.

At the final expansion stage of the venture, it will be able to supply raw materials for 160 gigawatt hours worth of electric vehicle batteries, Volkswagen China Group said in a statement.

This corresponds to an annual output of around 120,000 tonnes of nickel and 15,000 tonnes of cobalt, Huayou said in a separate filing to the Shanghai Stock Exchange.

Volkswagen’s second joint venture will be formed with Huayou in China’s southwestern Guangxi region for the refining of nickel and cobalt sulfates, precursor and cathode material production, it said.

“The cooperation aims to achieve significant cost advantages, secure the raw material supply and achieve a transparent and sustainable supply chain,” it said. “The two partnerships target to contribute to the Group’s long term target of a 30-50% cost reduction on each battery.”

Global nickel prices have surged almost 400% this year due to the Ukraine crisis, as Russia is a major supplier and its invasion of Ukraine and the subsequent imposition of sanctions on Moscow by the West lit a fire under an already hot market.

Prices on the London Metal Exchange got a further boost on March 8 when they doubled to $100,000 per tonne in a matter of hours, after Tsingshan bought large amounts of nickel to reduce its short bets on the metal and its exposure to costly margin calls.

5.META:-Meta Platforms Inc on Monday asked a Russian court to dismiss proceedings in a case brought by state prosecutors demanding that the U.S. tech giant be labelled an “extremist organisation”, Russian news agencies reported.

The TASS news agency reported from the courtroom that Meta had asked for more time to prepare its position and had also questioned the court’s authority to implement a ban on its activities.

Representatives for Meta did not immediately respond to a request for comment.

About Author

Related posts

Leave a Reply