Top 5 Stock To Watch out And Trade Today – March 23, 2022

Top 5 Stock To Watch out And Trade Today – March 23, 2022

Best Stocks to Buy Today

TOP 5 STOCKS TO WATCHOUT:-

1.VOLKSWAGEN:- Volkswagen has picked a site near Valencia for its planned battery cell plant in Spain and intends to start operations in 2026 with around 3,000 employees and annual production of 40-gigawatt hours (GWh), the German carmaker said on Wednesday.

The world’s second-largest automaker has set a target to build six large battery factories across Europe with partners by the end of the decade as it strives to become a global leader in electric vehicles (EV).

2.ADOBE: Shares of Adobe are down more than 2.5% in premarket trading Wednesday after the company reported a weaker-than-expected Q2 forecast.

For the first quarter, Adobe reported an adjusted EPS of $3.37, up from $3.14 in the year-ago period and slightly above the consensus estimates of $3.34. Revenue came in at $4.26 billion in the quarter, up 9.1% YoY and compared to the analyst consensus of $4.24 billion.

Adobes Q1 results reflect the company’s strong execution and resilience through unprecedented circumstances, said Dan Durn, CFO of Adobe.

Digital media revenue hit $3.11 billion, up 8.7% YoY, and in line with analyst expectations. Digital experience revenue came in at $1.06 billion, up 13% YoY and just above the consensus projection of $1.04 billion.

For the second fiscal quarter, Adobe expects adjusted EPS of about $3.30, below the consensus estimates of $3.35 per share. The company expects revenue of about $4.34 billion in FQ2, missing the analyst expectations of $4.4 billion.

 3.CITI BANK:-Swings in asset prices following Russia’s invasion of Ukraine could hit first-quarter profits at big U.S. banks depending on what happens before the end of the month and how markets react, analysts said.

Trading losses, provisions for expected loan losses, writedowns of assets and charges for closing businesses could muddy what was expected to be an OK quarter as banks benefited from higher interest rates and more lending even as the flood of investment banking revenue subsided.

Big banks could take one-time hits totaling $5 billion, or twice that, or none at all, said Gerard Cassidy, an analyst at RBC Capital Markets.

“You really can’t say because markets are moving in such a volatile fashion depending on what’s going on with the geopolitical risks,” he said.

The market volatility has been the bad kind for securities dealers, with prices jerking up and down rather than moving steadily as can happen when interest rates are expected to rise or fall, analysts say.

4.CITI BANK: Swings in asset prices following Russia’s invasion of Ukraine could hit first-quarter profits at big U.S. banks depending on what happens before the end of the month and how markets react, analysts said.

Trading losses, provisions for expected loan losses, writedowns of assets, and charges for closing businesses could muddy what was expected to be an OK quarter as banks benefited from higher interest rates and more lending even as the flood of investment banking revenue subsided.

Big banks could take one-time hits totaling $5 billion, or twice that, or none at all, said Gerard Cassidy, an analyst at RBC Capital Markets.

“You really can’t say because markets are moving in such a volatile fashion depending on what’s going on with the geopolitical risks,” he said.

The market volatility has been the bad kind for securities dealers, with prices jerking up and down rather than moving steadily as can happen when interest rates are expected to rise or fall, analysts say.

5.TENCENT:-Chinese social media and gaming giant Tencent Holdings posted on Wednesday an 8% rise in fourth-quarter revenue, its slowest growth since going public in 2004 that reflected heightened regulatory scrutiny and a slowdown in advertising.

Tencent said revenue rose to 144.2 billion yuan ($22.63 billion) in the quarter ended Dec. 31, below an average of 147.6 billion yuan from 17 analysts, Refinitiv data showed.

Revenue for the full year rose 16%, its slowest ever pace as well.

A year-and-half-long crackdown by Beijing on tech giants such as Tencent has brought decades of unbridled growth to an end and placed them under new rules governing how they interact with their users and how they conduct mergers and acquisitions.

Regulators have frozen game approvals since August last year, casting a chill over the sector and putting many small gaming studios out of business.

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