Top 5 Stock To Watch out And Trade Today – March 28, 2022

Top 5 Stock To Watch out And Trade Today – March 28, 2022

Best Stocks to Buy Today

TOP 5 STOCKS TO WATCHOUT:-

1.BARCLAYS:-  British bank Barclays disclosed on Monday an estimated 450 million pound ($592 million) loss on mishandled structured product sales and said this meant it would now delay a share buyback.

The lender said it offered and sold nearly twice as many affected securities over a period of about a year as it was registered to sell in the United States, overshooting its $20.8 billion limits by $15.2 billion.

The securities would now have to be bought back at their original purchase price, the bank said.

The products were two exchange-traded notes linked to crude oil and market volatility, a source familiar with the matter told Reuters. The bank suspended sales and issuance of the notes this month.

2.HEINEKEN : Dutch brewing giant Heineken said on Monday it has decided to exit its business in Russia at an expected cost of 400 million euros ($438 million), after previously saying it would only halt new investment and exports to the country.

The company joins a raft of Western brands shuttering businesses in Russia following its invasion of Ukraine, with Heineken’s move likely to dial up pressure on Danish rival Carlsberg, the owner of Russia’s biggest brewer, Baltika.

“We have concluded that Heineken’s ownership of the business in Russia is no longer sustainable nor viable in the current environment,” the company said in a statement, adding that it would not profit from any transfer of ownership.

Heineken is the third largest brewer in Russia, where it owns local brands Bochkarev, Okhota and Tri Medvedya. It said it aimed for an “orderly transfer” and would continue the business with reduced operations during a transition period to minimise the risk of nationalisation.

The company said it would guarantee the salaries of its 1,800 Russian employees to the end of this year and expected an impairment charge and other non-cash exceptional charges of around 400 million euros.

Ukraine’s President Volodymyr Zelenskiy has urged international companies to leave the Russian market after Moscow launched what it termed its “special military operation” against its neighbour.

Although Heineken is a major player on the Russian market, sales there account for just 2% of the company’s total.

 3.HUAWEI:- Huawei Technologies on Monday reported asset sale gains helped lift profit 76% in 2021, turning in its first set of results under Chief Financial Officer Meng Wanzhou since she returned to China last year after nearly three years’ detention in Canada.

In its biggest-ever annual gain, net profit rose to 113.7 billion yuan ($17.8 billion), the smartphone and computer giant said. Last year’s surge, from just 3.2% growth in 2020, marked the impact of asset sales in the wake of U.S. sanctions and weaker domestic consumer demand amid the coronavirus pandemic.

But revenue skidded 29% to 636.8 billion yuan, in line with Huawei’s previous forecast in December.

“Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty,” said Meng, speaking at a livestreamed event from the company’s Shenzhen headquarters.

Guo Ping, currently holding the rotating post of chairman at Huawei, said the performance was in line with its forecasts.

4.APPLE:Apple Inc  is planning to cut the output of its iPhone and AirPods devices as the Ukraine crisis and looming inflation start to weigh on demand for consumer electronics, the Nikkei reported on Monday, citing sources.

The company plans to make about 20% fewer iPhone SEs next quarter, or lower production orders by about 2 million to 3 million units than originally planned, due to weaker-than-expected demand, Nikkei said.

The U.S. tech giant also reduced orders for its AirPods wireless headphones by more than 10 million units for all of 2022, as it scales back the level of inventories due to lukewarm demand, the newspaper said.

Earlier this month, Apple unveiled 5G connectivity to its iPhone SE, its low-cost model aimed mostly at buyers in emerging markets.

Counterpoint Research said the earlier 4G iPhone SE accounted for 12% of total iPhone sales from its launch in the second quarter of 2020 until the end of 2021, with Japan being the biggest market after the United States.

5.TESLA:-U.S. automaker Tesla is suspending production at its Shanghai factory for four days after the financial hub said on Sunday it would lock down in two stages to carry out mass testing for COVID 19, two people familiar with the matter said.

The company has notified its workers and suppliers of the move, the people said.

It initially attempted to create a closed loop to continue production and called workers in on Sunday, one of the sources said. However, it allowed them to leave that evening after it decided it did not have enough provisions for them, the source added.

Tesla declined to comment on whether production had been suspended. In a statement to Reuters it said that it always strived to fulfill its epidemic prevention responsibilities and that it believed Shanghai’s COVID-19 measures helped lay the foundation for the city’s future development.

Shanghai said on Sunday it would lock down the city in two stages to carry out COVID-19 testing over nine days.

Authorities said they would divide Shanghai in two for the exercise, using the Huangpu River that passes through the city as a guide.

The Tesla factory is in the Lingang district of Pudong new area, which is part of Shanghai’s first lockdown stage. Its lockdown started early on Monday and is scheduled to last until Friday morning.

Tesla had already in mid-March suspended production at the Shanghai factory for two days after the city rolled out strict movement controls and carried out mass testing.

About Author

Related posts

Leave a Reply