Top 5 Stock To Watch out And Trade Today – February 24, 2022

Top 5 Stock To Watch out And Trade Today – February 24, 2022

Best Stocks to Buy Today


1.AMAZON : Inc labor organizer Christian Smalls was arrested on Wednesday, accused of trespassing when he delivered warehouse workers food as part of a high-profile union campaign he is leading.

Smalls, a former Amazon  employee, and two other individuals have been charged with obstructing governmental administration, said Lt. John Grimpel of the New York City Police Department, adding that Smalls was also charged with resisting arrest and trespassing.

The other two individuals were Amazon workers, an advocacy group said. Smalls said all three were later released, adding that he disputed the charges and would continue his battle in court.

Amazon spokesperson Kelly Nantel said Smalls has “repeatedly trespassed despite multiple warnings.” The company had not contacted the police about its own employees.

Thirty-three year-old Smalls’ quest to make Amazon’s JFK8 Staten Island warehouse a unionized facility will come to a head when workers vote starting March 25.

A second closely watched election is currently occurring at Amazon’s Bessemer, Alabama warehouse, with vote-by-mail being accepted until March 25 and the vote count starting March 28. Last year, workers at that warehouse voted against unionizing.

2.AXA: Axa reported a profit on Thursday that more than doubled from last year, with the French insurer recovering from pandemic-related claims during the peak of the COVID-19 crisis.

The company, Europe’s second-biggest insurer after Allianz , said it expected underlying earnings per share to grow at the high end of its 3% to 7% target range by 2023, and cumulative cash to exceed its 14-billion-euros target during 2021 to 2023.

Axa’s net income jumped to 7.29 billion euros in 2021 from 3.16 billion euros a year earlier, beating analysts’ estimates of 6.72 billion euros, according to Refinitiv IBES data.

Full-year revenue rose 3% to 99.93 billion euros, slightly below estimates of 99.98 billion euros.

 3.FORD:- Ford Motor Co has no plans to spin off its electric vehicle or gasoline-powered vehicle businesses, Chief Executive Jim Farley said on Wednesday.

“We have no plans to spin off our electric business or our ICE  business,” Farley said at a Wolfe Research conference appearance that was webcast, using an acronym for internal-combustion engine.

Some investors have pushed Ford and rival General Motors Co to spin off their EV operations as a way to better tap into the full value of those businesses. EV leader Tesla Inc is the most valuable automaker in the world.

Ford previously denied reports it was considering spinning off its EV or internal-combustion engine operations. The U.S. automaker said last month it will have the annual capacity to build 600,000 EVs globally within 24 months.

Farley said on Wednesday that his management team believes the U.S. automaker’s EV and ICE businesses are underperforming on an earnings basis.

The CEO also said Ford believes it can drive a lot more cost out of its traditional ICE business through better quality, lower structural costs and reduced vehicle complexity.

“We have too many people, we have too much investment, we have too much complexity and we don’t have expertise in transitioning our assets,” Farley said of the internal-combustion business. “That’s the simple answer. There’s waste.”

“To get the margins (on electric vehicles) … that we see at a company like Tesla, we need to have real experts that can drive that scale,” he said, adding that Ford needed to hire more people who work in the areas of electrical components, advanced electrical architectures and the digital customer experience.

4.META:-EU-U.S. data transfers by Meta owned Facebook and Instagram could be halted as soon as May but the move would not immediately hit other big tech companies, Ireland’s data privacy regulator said in an interview.

Europe’s highest court ruled in 2020 that an EU-U.S. data transfer pact was invalid due to concerns that U.S. government surveillance may not respect the privacy rights of EU citizens.

That prompted Ireland’s Data Protection Commission (DPC), Meta’s lead regulator in Europe, to issue a provisional order that the mechanism Facebook and Instagram uses to transfer data from European Union users to the United States “cannot in practice be used.”

The order, which does not apply to WhatsApp as it has a different data controller within the Meta group, was frozen following a legal challenge but resumed last May when the Irish High Court dismissed Meta’s claims.

An updated decision could be shared with fellow EU regulators in April and if none of them lodge an objection, “the earliest time we could have a final decision could be the end of May,” Helen Dixon told Reuters. Any objection could add some months to the timeline.

“If there were a scenario where data flows were deemed illegal and required a halt, obviously the impacts would be huge,” she said.

But there is no way that the probe could lead to an automatic halt of similar data flows at Meta’s large rivals, many of whom also have their European headquarters in Ireland.

“The decision that the DPC will ultimately make in relation to Facebook will be specific to Facebook and addressed only to Facebook,” Dixon said.

“The consequence of the CJEU (Court of Justice of the European Union) decision is that we can’t make a broader and more sweeping finding. We have to go company by company by company,” she said.

There are “hundreds of thousands of entities” that would potentially have to be looked at, Dixon added, starting with other large internet platforms.

Meta has warned a stoppage will likely leave it unable to offer significant services such as Facebook and Instagram in Europe without a new transatlantic data transfer framework.

There is a parallel political process between the U.S. Commerce Department and the EU Commission on such remedies, but the Irish regulator has not been informed of progress.

Dixon’s office has so far completed just two investigations of multinationals under new EU privacy rules introduced in 2018, including hitting WhatsApp with a 225 million euro fine last year.

5.EBAY :-EBay Inc on Wednesday forecast bleak first-quarter results, as the e-commerce platform tackles waning online demand, stiff competition and global supply chain disruptions, sending the company’s shares down nearly 9% in extended trading.

E-commerce companies raked in large profits as online shopping boomed last year during the pandemic, but vaccine rollouts could spell trouble as people return to brick-and-mortar shopping.

Biggest rival and online retail giant Inc  has also forecast disappointing first-quarter sales estimates.

EBay, which is already grappling with declining active users, expects a further hit as ramping up investments put pressure on its margins.

“The second quarter should mark the low point for margins during the year as we lap difficult comps and ramp up our pace of investment,” finance chief Stephen Priest said in a post-earnings conference call.

Shares of eBay , which started as a site where people would auction their collectibles, fell to $50.28 in extended trading on Wednesday. They declined 18% so far this year, while the broader S&P Index slipped 11%.

EBay expects first-quarter adjusted profit in the range of $1.01 to $1.05 on revenue of $2.43 billion to $2.48 billion; both estimates came in below Wall Street’s expectations.

The company’s 2022 revenue and profit forecasts were also below expectations.

Meanwhile, eBay posted an adjusted profit of $1.05 per share on revenue of $2.61 billion in the fourth quarter ended Dec. 31, above analysts’ average estimates, according to IBES data from Refinitiv.

Part of eBay’s revenue comes from advertising on its platform which crossed $1 billion last year, the company said.

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