TOP 5 STOCKS TO WATCHOUT:-
1.UBS:- UBS spent 3.81 billion Swiss francs ($4.10 billion) repurchasing its shares equivalent to 6.49% of its share capital in its 2021 buyback, the Swiss bank said on Wednesday.
The cancellation of most of the repurchased shares will be proposed at the bank’s upcoming shareholder meeting on April 6.
The lender plans to repurchase up to $6 billion of its shares under its latest scheme, equivalent to around 8.52% of its share capital.
2.TOYOTA : Toyota Motor Corp said on Wednesday its group, including Daihatsu and Hino Motors Ltd, produced and sold record-high vehicles for February in markets outside Japan despite a parts shortage triggered by the COVID-19 outbreak.
The group’s overseas production in February was 531,183 vehicles, a 16% increase from the same month last year, while sales was 620,360, a 5.2% jump from the same period a year ago.
For the group as a whole, it produced 884,528 vehicles and sold 774,860 globally for the month. Global production went up by almost 11% for February year-over-year but global sales slid 1.6%.
Just Toyota alone exceeded its February global production target plan released a month earlier by almost 41,000 vehicles. But the level was below the year-ago period due to a parts supply shortage in North America due to COVID-19 and tight parts supply in Europe because of rising demand.
The sale comes as Barclays grapples with a fresh compliance and risk mis-step, after it disclosed an estimated 450 million pound ($589 million) loss on Monday due to overselling structured products in the United States.
3.FACEBOOK:- A U.S. judge ruled on Tuesday that a lawsuit accusing Meta Platforms Inc’s Facebook of deceiving advertisers about its “potential reach” tool can proceed as a class action.
The decision by U.S. District Judge James Donato in San Francisco allows potentially millions of individuals and businesses that paid for ads on Facebook and its photo-sharing app Instagram since Aug. 15, 2014 to sue as a group.
Meta did not immediately respond to a request for a comment.
The lawsuit began in 2018, as DZ Reserve and other advertisers accused Facebook of inflating its advertising reach, by increasing the number of potential viewers by as much as 400%, and charging artificially high premiums for ad placements.
They also said senior Facebook executives knew for years that the company’s “potential reach” metric was inflated by duplicate and fake accounts, yet did nothing about it and took steps to cover it up.
4.AIR CANADA:Carrier Air Canada and Mexico’s Aeromar signed an agreement to jointly market routes through Mexico, the airlines announced in a statement on Tuesday.
Air Canada, which already flies to seven tourist hot spots in Mexico, will now allow travelers to connect to 11 new cities in Mexico as well as Cuba’s capital, Havana, through the regional carrier, the companies said.
The partnership will push Canada’s flag carrier over pre-pandemic levels for flights to Mexico this summer, with plans to offer more than 100 flights to the country by winter, the airlines announced.
“This agreement will advance our strategy to strengthen our major Canadian hubs with connecting traffic,” Air Canada executive Mark Galardo said in the statement.
Last week, Air Canada announced it would add 26 new aircraft to its fleet as travel demand from Canada has surged in recent months.
5.MICRON:-Chipmaker Micron Technology Inc said it expects no impact on near-term production from component shortages driven by the Ukraine crisis, but costs are expected to rise.
Ukraine’s two leading neon suppliers, which produce about half the world’s supply of the key chip-making ingredient, have halted their operations, threatening to drive up prices and worsen an ongoing semiconductor crunch.
Global chip output was already under pressure after the pandemic drove up demand for cellphones, laptops and later cars, forcing some firms to scale back production.
That same demand helped Micron forecast current-quarter revenue above estimates and deliver higher-than-expected results in the second quarter, sending shares up more than 4%.
“We currently do not expect any negative impacts to our near-term production volumes because of the Russia-Ukraine war, but we do expect an increase in our costs as we secure supply of certain raw materials that could be addressed,” Chief Executive Officer Sanjay Mehrotra said in a post-earnings conference call.