Top 5 Stocks To Watchout and Trade Today – February 01, 2022

Top 5 Stocks To Watchout and Trade Today – February 01, 2022

Best Stocks to Buy Today


1.SONY: Sony stock traded up 1.2% in premarket Tuesday as it struck a deal to buy Bungie, a U.S. video game developer behind the popular Destiny and Halo franchises, for $3.6 billion.

Bungie will operate as an independent subsidiary of Sony once the transaction concludes.

Sony usually goes for small-ticket acquisitions in the video game studios business but was forced to go for a big one after rivals clinched two large deals in January alone.

On January 10, Take-Two Interactive agreed to acquire mobile game leader Zynga at an enterprise value of close to $13 billion. Then on January 18, Microsoft announced the biggest deal in the gaming industry, acquiring ‘Candy Crush’-owner Activision Blizzard for nearly $69 billion.

The Bungie purchase gives Sony one of the most popular first-person shooter games to compete with the massive Call of Duty series, which is now in Microsoft’s hands after the Activision acquisition.

The long-term growth of video gaming has intensified with the pandemic, as stuck-at-home consumers found new ways to entertain themselves. It is now also seen as an important element of the still-nascent ‘metaverse’ – a virtual world that allows people to interact with friends, play video games, watch a movie, study, or attend a concert online. Microsoft’s, and now Sony’s acquisitions, are directed at a play in the metaverse.

2.UBS:UBS on Tuesday reported its best annual profit since the global financial crisis, emboldening it to hike share buybacks and set more ambitious profit goals as it banks that more digital products will result in hefty cost-savings.

Shares in Switzerland’s biggest bank surged 6.5% in early trade to a four-year high.

In its first major strategic review since Chief Executive Ralph Hamers took the helm in November 2020, UBS said it wants to use technology to help it increase revenues and reach more customers in the years ahead, while also continuing to bring costs down.

“UBS is in better shape than ever,” Hamers said in a statement. “We’re adapting our coverage models to deliver more digital and scalable advice as well as bespoke solutions.”

 3.SPOTIFY:- The executive producer and host of Gimlet Media’s Science Vs podcast said she would devote her fact-checking show exclusively to contradicting misinformation on other podcasts carried by parent company Spotify.

The announcement by Wendy Zukerman builds on protests by Neil Young, Joni Mitchell, and others against Spotify’s Joe Rogan Experience Podcast. They say Spotify is not doing enough to prevent the spread of COVID-19 misinformation.

Zukerman posted a copy of an email she sent to Spotify CEO Daniel Ek, in which she said she considered the platform’s support of Rogan a “slap in the face,” after she spent months encouraging her listeners to move to the service because of its support for her fact-based science podcast.

Spotify acquired Gimlet Media in 2019.

Zukerman wrote that Rogan’s interview with Dr Robert Malone, an infectious disease specialist who has become well-known among anti-vaccine Americans, took vaccine information “repeatedly out of context” and lacked scientific evidence that contradicts his claims – a topic a forthcoming Science Vs episode will address.

She said that Spotify’s platform rules do not go far enough to address the problem.

“Until Spotify implements stronger methods to prevent the spread of misinformation on the platform, we will no longer be making new Science Vs episodes, except those intended to contradict misinformation being spread on Spotify,” Zukerman wrote in an email to Ek that she posted on Twitter.

4.JAGUAR LANDROVER: Shares of India’s Tata Motors  Ltd fell 3.7% on Tuesday after the Jaguar Land Rover (JLR) owner reported a bigger quarterly loss than expected and warned of rising inflationary pressures.

Automakers worldwide have been roiled by chip shortages, supply chain disruptions, COVID-19 restrictions and rising raw material prices after a short-lived recovery towards the end of 2020.

“Demand remains strong despite near-term concerns… the semiconductor supply situation is improving gradually whilst inflation worries persist,” Tata Motors said in an exchange filing.

Shares of the company were trading 1.7% lower at 504.05 rupees, as of 0415 GMT. Before results landed on Monday, the stock had jumped more than 4% and settled at 517.75 rupees.

Brokerage Jefferies said in a note that it saw better times for JLR ahead as chip constraints eased, retaining its “buy” rating and raising the target price to 635 rupees from 625 rupees.

Tata Motors’ consolidated net loss came in at 15.16 billion rupees ($203.23 million) for the quarter ended Dec. 31, compared to a profit of 29.06 billion rupees a year earlier, when an easing of pandemic-related restrictions led to a pick-up in sales.

However, the recovery was short-lived as acute semiconductor shortages and supply chain disruptions delayed production, and Tata Motors slipped back to losses.

5.EXXON MOBIL :-Exxon Mobil Corp on Monday disclosed a sweeping restructuring of its global operations that will combine its refining and chemicals businesses into one, and put its energy transition business on the same footing as its other operations.

The broad restructuring marks its latest cost-cutting effort after activist investors seeking to boost returns and address the energy transition won three seats last spring on its board. Exxon vowed to cut $6 billion from operating costs by next year after suffering a historic $22.4 billion loss in 2020.

The changes were first considered around 2017, Exxon Senior Vice President Jack P. Williams told Reuters. Around that time, Exxon combined its fuels and lubricants division with supply and refining Three top businesses lines: Upstream, Products and Low Carbon.

“It’s an evolution,” said Williams. “We have been working on it now for a while.”

Putting its low carbon business on the same level as its two major businesses allows Exxon more flexibility to redirect investments as the company adjusts to the energy transition, Williams said.

Exxon shares rose nearly 1% to $75.96 on Monday.

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