Top 5 Stock To Watch out And Trade Today – March 01, 2022

Top 5 Stock To Watch out And Trade Today – March 01, 2022

Best Stocks to Buy Today


1.ZOOM :  Zoom Video Communications, Inc. (NASDAQ: ZM) stock traded 4.6% lower in premarket Tuesday after the video conferencing company posted a disappointing outlook.

The company was the most visible winner of the pandemic-induced need for services that helped people and corporations connect. As offices, schools and colleges reopen, and people return to work, the need for the services is being felt less and less. To add to the challenges, competition is also getting stronger with more features in their applications.

The fact that rivals like Microsoft Teams and Google Meet are more integrated with their respective broader ecosystems also poses a challenge to Zoom’s growth.  

Revenue in the fourth quarter rose 21% to $1.07 billion, the slowest ever quarterly growth since it went public in 2019.

At the end of January 31, Zoom had 509,800 customers with more than 10 employees, up around 9% year-on-year. The adjusted profit per share was $1.29.

The company will also buy back shares worth up to $1 billion, it said.  The program will run through February 2024. It has appointed ServiceNow (NY CEO Bill McDermott to the board. He will replace departing member and early investor Bart Swanson.

2.TOYOTA: Toyota Motor Corp will restart domestic production from Wednesday after a cyberattack on a supplier ground the automaking giant’s factories to a one-day halt, sparking concerns about vulnerability in Japan Inc’s supply chain.

No information was available about who was behind the attack, or the motive. It came just after Japan joined Western allies in clamping down on Russia in response to the invasion of Ukraine, although it was not known whether the attack was related.

Cybersecurity has emerged as a key area of concern in Japan, where government critics say responses to hacking threats have been hampered by a fractured approach, with an attack on a hitherto obscure supplier enough to bring one of the world’s mightiest manufacturers to a domestic standstill.

Toyota’s production lines will be switched back on at its 14 factories across the country on Wednesday, it said in a statement. Tuesday’s suspension hit output of around 13,000 vehicles.

Kojima Industries Corp, which provides plastic parts and electronic components to the automaker, said it had discovered an error at one of its file servers on Saturday night. After rebooting the server, it confirmed it had been infected with a virus, and found a threatening message, it said in a separate statement.

The message was written in English, a Kojima spokesperson told Reuters, but declined to give further details.

A system failure hampered communication with Toyota over parts orders and led to a suspension of production at the automaker, Kojima said.

 3.CREDIT SUISSE:- Credit Suisse  announced on Tuesday three senior appointments to its asset management business, which will operate under a new organizational structure from April 1.

The Swiss bank announced the new structure in November to rein in its investment bankers and put money into wealth management as it tries to curb a freewheeling culture that has cost it billions in a string of scandals.

A spokesperson for Credit Suisse Asset Management said on Tuesday the company had proceeded to two external hires and an internal promotion.

Colin Fitzgerald joins from Invesco to become global head of distribution, while Jo McCaffrey leaves PineBridge Investments to take over as global head of product. Filippo Rima is promoted internally to assume the role of global head of investment, the spokesperson said.

The new global functions will help expand asset management distribution capabilities, increase the footprint in Europe and Asia and boost innovation at the intersection of investment and distribution, the spokesperson said.

The new investment role will also help expand sustainable investment offers.

4.VOLKSWAGEN:-Czech carmaker Skoda Auto, part of Volkswagen , will limit some production at its domestic plants due to supply shortages after Russia’s invasion of Ukraine, while it said its Russian operations were still running.

“Due to the current situation in Ukraine, Skoda Auto is facing critical supply shortages of parts from several local suppliers that have affected some of our models,” it said.

“This is the reason why we will limit production of the ENYA HiV from this week on.”

Skoda said its supply chain consisted of a number of suppliers in western Ukraine.

The Czech carmaker said production was still running at its two plants in Russia, which has been hit by Western sanctions for its invasion of Ukraine.

Answering a question on any impact on production and operations in the event of further sanctions on Russia, Skoda said: “Impacts can certainly be expected, but the final decision and future direction will be determined by the (Skoda Auto board) and in consultation with the Volkswagen Group.”

Russia was Skoda’s second-largest market in 2021, with over 90,000 vehicles delivered. Ukraine has also been a stable market, it said.

“The sales strategy in Russia and Ukraine is currently the subject of intensive discussions. Sales in both Ukraine and Russia can be expected to fall in view of recent developments,” Skoda said.

5.BAYER :-German diversified group Bayer  is aiming for a return to growth in adjusted core earnings this year as higher profit at its agriculture division would likely be tempered by investments in new genetic treatment technologies.

Earnings before interest, tax, depreciation and amortisation (EBITDA) before special items should reach 12 billion euros ($13.4 billion) in 2022, when adjusted for currency swings, up 7% from 11.18 billion euro last year, the company said in a statement on Tuesday.

Bayer reported its fourth-quarter adjusted EBITDA was flat at 2.4 billion euros, in line with the average analyst forecast, resulting in a 2.5% decline for the full year due to higher costs, negative currency effects and drug development spending.

In its presentation slides, the maker of drugs and farming supplies said it was aiming for earnings growth at its crop science division due to mark-ups in prices, market share gains as well as efficiency measures that offset inflationary cost pressures.

Bayer is catching up with its closest rival Corteva  in the U.S. seeds market, offering a soy variety that resists a higher number of weedkillers.

The company warned that its outlook assumed a stable geopolitical environment in Eastern Europe, now thrown into doubt by Russia’s invasion of Ukraine.

“Bayer will closely monitor and mitigate these risks to the extent possible,” it added.

The company has built what it describes as one of the leading cell and gene therapy platforms in the industry, boosting its long-term drug development prospects but requiring substantial expenditure.

A successful clinical trial prompted the drugmaker last month to boost its peak sales estimates for prostate cancer drug Nubeqa to more than 3 billion euros.

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