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2023-11-17

Singapore Stocks to Watch: Singtel, ValueMax

THE following companies saw new developments that may affect trading of their securities on Friday (Nov 17):$Singtel(Z74.SI)$: SINGTEL said the upgrading of Singtel Internet Exchange, STiX, was not the root cause of the Optus network outage on Nov 8.STiX is Singtel’s Internet peering exchange, acting as an infrastructure “shortcut” that helps move vast amounts of data across the world.“We are aware that Optus experienced a network outage after the upgrade when a significant increase in addresses being propagated through their network triggered preset fail-safes.“However, the upgrade was not the root cause,” the largest telecommunications operator in Singapore said on Thursday (Nov 16), noting that STiX is one of Optus’ international networks con
Singapore Stocks to Watch: Singtel, ValueMax
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2023-11-17

SG Morning Call | Singapore Expands E-Money Trials; OCBC Makes First Acquisition

Singapore Expands E-Money Trials to Pave Way for Digital Sing DollarTHE Monetary Authority of Singapore (MAS) is pushing ahead with plans to explore the potential of issuing and using digital money here.The central bank on Thursday (Nov 16) published a blueprint outlining the infrastructure required for a digital Singapore dollar, and announced that it will be expanding trials on digital money.MAS will also issue a “live” central bank digital currency (CBDC) for wholesale settlement, with plans to start developing CBDCs for wholesale interbank settlement next year.OCBC Makes First Acquisition Under CEO Wong With Indonesia DealOversea-Chinese Banking Corp. agreed to buy Commonwealth Bank of Australia’s Indonesian banking unit, marking Chief Executive Officer Helen Wong’s first takeover sinc
SG Morning Call | Singapore Expands E-Money Trials; OCBC Makes First Acquisition
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2023-11-17

Post-Bell | Nasdaq, S&P Eke Out 3-Day Win Steak; Alibaba Falls 9% While Intel Gains 6.8%

The S&P 500 and the Nasdaq managed to eke out tiny gains on Thursday while the Dow Industrial Average ended slightly lower with pressure from tech and retail bellwethers Cisco and Walmart after disappointing forecasts.Market SnapshotThe Dow Jones Industrial Average fell 45.74 points, or 0.13%, to 34,945.47, the S&P 500 rose 5.36 points, or 0.12%, to 4,502.24 and the Nasdaq Composite rose 9.84 points, or 0.07%, to 14,113.67.Market MoversWalmart (WMT) reported third-quarter earnings that beat analysts’ estimates and raised fiscal-year guidance. But the stock fell 8.1%, after the outlook from the world’s largest retailer disappointed.U.S.-listed shares of Alibaba (BABA) fell 9.1% after the Chinese e-commerce and cloud-computing company reported fiscal second-quarter earnings that were
Post-Bell | Nasdaq, S&P Eke Out 3-Day Win Steak; Alibaba Falls 9% While Intel Gains 6.8%
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2023-11-17

Post-Bell | Nasdaq, S&P Eke Out 3-Day Win Steak; Alibaba Falls 9% While Intel Gains 6.8%

The S&P 500 and the Nasdaq managed to eke out tiny gains on Thursday while the Dow Industrial Average ended slightly lower with pressure from tech and retail bellwethers Cisco and Walmart after disappointing forecasts.Market SnapshotThe Dow Jones Industrial Average fell 45.74 points, or 0.13%, to 34,945.47, the S&P 500 rose 5.36 points, or 0.12%, to 4,502.24 and the Nasdaq Composite rose 9.84 points, or 0.07%, to 14,113.67.Market MoversWalmart (WMT) reported third-quarter earnings that beat analysts’ estimates and raised fiscal-year guidance. But the stock fell 8.1%, after the outlook from the world’s largest retailer disappointed.U.S.-listed shares of Alibaba (BABA) fell 9.1% after the Chinese e-commerce and cloud-computing company reported fiscal second-quarter earnings that were
Post-Bell | Nasdaq, S&P Eke Out 3-Day Win Steak; Alibaba Falls 9% While Intel Gains 6.8%
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2023-11-16

EV Stocks Drop in Morning Trading with Nio Slumping Over 6%

EV stocks drop in morning trading with Nio slumping over 6%. $(TSLA)$ $(NIO)$ $(LI)$
EV Stocks Drop in Morning Trading with Nio Slumping Over 6%
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2023-11-16

Hot Chinese ADRs Tumbled in Morning Trading with Alibaba Plunging 10%

Hot Chinese ADRs tumbled in morning trading with Alibaba plunging 10%. $(BABA)$ $(JD)$ $(PDD)$
Hot Chinese ADRs Tumbled in Morning Trading with Alibaba Plunging 10%
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2023-11-16

Stocks Slip as November Rally Takes a Breather

Stocks fell slightly Thursday as this month’s market rally appeared to take a pause.Alibaba (BABA) on Thursday reported quarterly profit that missed market expectations, and said it would not proceed with the full spin-off of its cloud intelligence group. Its U.S. shares fell 8% in morning trading.Shares of Cisco Systems dropped 10% after the company offered weak guidance for the current quarter and full fiscal year. Palo Alto Networks shed 6% after the cybersecurity company issued a dismal forecast on billings. Macy’s stock popped 8% in premarket trading after the company topped fiscal third-quarter earnings estimates.The moves follow a winning day on Wall Street as investors cheered the latest inflation data. The Dow added more than 160 points, finishing its fourth straight winning
Stocks Slip as November Rally Takes a Breather
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2023-11-16

Pre-Bell|Futures Slip as Peak Rate Optimism Wanes; Alibaba Tumbled 8%

U.S. stock index futures slipped on Thursday as optimism around an end to the Federal Reserve's interest rate hikes waned and a drop in shares of Cisco following a dour forecast further weighed on sentiment.Market SnapshotAt 7:42 a.m. ET, Dow e-minis were down 87 points, or 0.25%, S&P 500 e-minis were down 8.25 points, or 0.18%, and Nasdaq 100 e-minis were down 48 points, or 0.3%.Pre-Market MoversAlibaba (BABA) on Thursday reported quarterly profit that missed market expectations, and said it would not proceed with the full spin-off of its cloud intelligence group. Its U.S. shares fell over 8% in pre-market trading following the news.Cisco Systems (CSCO) reported fiscal first-quarter adjusted earnings that beat analysts’ estimates but the networking-equipment maker reduced its out
Pre-Bell|Futures Slip as Peak Rate Optimism Wanes; Alibaba Tumbled 8%
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2023-11-16

Walmart Tops Earnings Estimates as E-Commerce Helps Drive 5% Jump in Sales

Walmart on Thursday said sales rose 5% in the fiscal third quarter, as shoppers’ grocery purchases and the company’s growing e-commerce business again boosted the big-box retailer.The retailer topped Wall Street’s quarterly earnings and revenue expectations.Walmart shares slipped 2.8% after posting financial results.The company anticipates adjusted earnings per share of $6.40 to $6.48 for the year, lower than the $6.48 analysts expect but higher than its previous range. Walmart expects consolidated net sales will rise 5% to 5.5%, also an increase from its prior range. Here’s what Walmart reported for the three-month period ended Oct. 31 compared with what analysts were expecting, according to consensus estimates from LSEG, formerly known as Refinitiv:Earnings per share: $1.53 adjusted
Walmart Tops Earnings Estimates as E-Commerce Helps Drive 5% Jump in Sales
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2023-11-16

Alibaba Non-GAAP EPADS of $2.14 Beats by $0.05, Revenue of $30.81B Misses by $230M

Alibaba (NYSE:BABA): Q2 Non-GAAP EPADS of $2.14 beats by $0.05. Revenue of $30.81B (+9% Y/Y) misses by $230M.Alibaba shares slumped 5% after posting financial results.Net cash provided by operating activities was $6,748 million, an increase of 4% compared to the same quarter of 2022. Free cash flow, a non-GAAP measurement of liquidity, was $6,198 million, an increase of 27% compared to the same quarter of 2022.“Under our capital management plan, we are prioritizing investment in technology and innovations for our businesses to drive new growth. We are confident in our business fundamentals and are pleased to announce our first annual dividend distribution for fiscal year 2023, with an aggregate amount of approximately US$2.5 billion, as part of our continued efforts to enhance shareholders
Alibaba Non-GAAP EPADS of $2.14 Beats by $0.05, Revenue of $30.81B Misses by $230M
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2023-11-16

Hot Chinese ADRs Dropped in Premarket Trading with XPeng Slumping Over 4%

Hot Chinese ADRs dropped in premarket trading with XPeng slumping over 4%. $(BABA)$ $(JD)$ $(XPEV)$
Hot Chinese ADRs Dropped in Premarket Trading with XPeng Slumping Over 4%
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2023-11-16

Cisco Stock Tumbled 11% after Cutting Annual Forecasts on Slowdown in New Orders

Cisco stock tumbled 11% after cutting annual forecasts on slowdown in new orders.The company has in recent years grappled with supply chain issues and a post-pandemic slowdown in demand, which has hastened its push into software offerings like cybersecurity.Cisco said it saw "a slowdown of new product orders in the first quarter of fiscal 2024 and believes the primary reason is that customers are currently focused on installing and implementing products in their environments".For the full year, the company expects revenue between $53.8 billion and $55.0 billion, and adjusted per-share earnings between $3.87 and $3.93.Cisco had previously forecast annual revenue of $57.0 billion to $58.2 billion, and adjusted per-share earnings of $4.01 to $4.08.To accelerate its diversification and capital
Cisco Stock Tumbled 11% after Cutting Annual Forecasts on Slowdown in New Orders
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2023-11-16

Singapore Stocks to Watch: Singapore Airlines, ST Engineering, Silverlake Axis, Metro Holdings

THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 16):$Singapore Airlines(C6L.SI)$(SIA) Group on Wednesday (Nov 15) posted a 24.5 per cent year-on-year (yoy) increase in passenger traffic in October, amid robust passenger traffic across all its route regions.Its bourse filing indicated that revenue passenger-kilometre, which measures the number of passengers carried multiplied by the distance flown, rose to 12.1 billion during the month, from 9.7 billion the year before.The growth in passenger traffic outpaced the 23 per cent expansion in its capacity. As a result of this, the group’s passenger load factor (PLF) rose by one percentage point to 87.4 per cent. (Passenger load factor is expres
Singapore Stocks to Watch: Singapore Airlines, ST Engineering, Silverlake Axis, Metro Holdings
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2023-11-16

SG Morning Call | SIA Passenger Traffic up 24.5% YoY in Oct; Adult Singaporeans to Receive Assurance Package Support

All Adult Singaporeans to Receive up to S$800 in Assurance Package Support in DecemberAll Singaporean adults will receive between S$200 (US$148) and S$800 in December this year under the Assurance Package, which aims to help with inflation and cost of living concerns. About 2.9 million will receive up to S$600 in Assurance Package Cash, said the Ministry of Finance (MOF) on Wednesday (Nov 15).Singapore October Home Sales Fall as Supply Weakness WeighsSingapore home sales fell for a third month, to the lowest since 2022, as a lack of major property projects being launched continued to drag on the market.New private apartments sold by developers dropped to 203 units in October, according to figures released Wednesday by the Urban Redevelopment Authority.Singapore Wants to Play
SG Morning Call | SIA Passenger Traffic up 24.5% YoY in Oct; Adult Singaporeans to Receive Assurance Package Support
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2023-11-16

Post-Bell | Dow Gains 163 Points on Easing Inflation; Cisco, Palo Alto Networks Sink on Weaker Guidance

U.S. stocks closed slightly higher on Wednesday, as fresh inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target.Market SnapshotThe Dow Jones Industrial Average rose 163.51 points, or 0.47%, to 34,991.21, the S&P 500 rose 7.18 points, or 0.16%, to 4,502.88 and the Nasdaq Composite rose 9.45 points, or 0.07%, to 14,103.84.Market MoversCisco Systems cut its full-year revenue and profit forecasts on Wednesday in a sign that demand for its networking equipment was slowing, sending the company's shares down 11% after market.Cybersecurity firm $Palo Alto Networks(PANW)$ Inc. tumbled after missing Wall Street estimates for billings in its fis
Post-Bell | Dow Gains 163 Points on Easing Inflation; Cisco, Palo Alto Networks Sink on Weaker Guidance
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2023-11-15

Top Calls on Wall Street: Nvidia, Netflix, Apple, Disney and More

Here are Wednesday’s biggest calls on Wall Street:Jefferies upgrades Holley to buy from holdJefferies said it sees sales ramping up for the auto manufacturing company.“We upgrade HLLY to Buy as we expect sales and EBITDA ramp in Q4 against easier compares and see enhanced focus on expanding product offerings to non-legacy markets reaching a wider customer base LT.”Wells Fargo initiates BioMarin as overweightWells said it sees margin expansion for the biotech company.“BMRN: We See Value, Which the New CEO and Activist Involvement Could Help Unlock—Initiate at OW.”UBS reiterates Apple as neutralUBS said its survey checks show wait times for Apple’s iPhone Pro have subsided.“Utilizing UBS Evidence Lab data that tracks iPhone availability across 30 countries, wait times for the iPhone 15 Pro a
Top Calls on Wall Street: Nvidia, Netflix, Apple, Disney and More
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2023-11-15

Sea Rebound 6% in Morning Trading after Plunging 22% on Tuesday

Sea rebound 6% in morning trading after plunging 22% on Tuesday.$Sea Ltd.(SE)$ swung back to a loss in the third quarter, hit by flagging consumption and intensifying competition from Alibaba and TikTok on its home turf.The stock fell 22.07% on Tuesday after the company posted a net loss of $149 million, compared with a profit of $322 million the previous quarter. Southeast Asia’s largest internet firm reported a 4.9% rise in sales from a year earlier to $3.3 billion, versus the average estimate of $3.2 billion. $(SE)$
Sea Rebound 6% in Morning Trading after Plunging 22% on Tuesday
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2023-11-15

Hot Chinese ADRs Kept Rally in Morning Trading with JD.com Soaring 8%

Hot Chinese ADRs kept rally in morning trading with JD.com soaring 8%.JD.com Inc. posted a stronger-than-expected 1.7% rise in quarterly revenue, after heavy promotional spending propelled online transactions in the face of intense competition.Revenue came to 247.7 billion yuan ($34.2 billion) in the September quarter, versus the 246.6 billion yuan average analyst estimate. Net income rose 33% to 7.9 billion yuan. $(BABA)$ $(JD)$ $(PDD)$
Hot Chinese ADRs Kept Rally in Morning Trading with JD.com Soaring 8%
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2023-11-15

Stocks Gain After More Encouraging Inflation Data as Rally Continues

U.S. stocks ticked higher Wednesday, as traders tried to extend a strong rally from the previous session on the back of more encouraging inflation data. Wall Street also had its eyes on Washington as lawmakers tried to avoid a government shutdown.Target (TGT) reported third-quarter adjusted earnings of $2.10 a share, beating analysts’ estimates of $1.47, and shares of the retailer jumped 14% in moring trading.October’s producer price index, which measures wholesale prices, fell by 0.5% to mark its biggest monthly drop since April 2020. Not all of the economic data was positive, however, since retail sales also declined.The S&P 500 climbed 1.9%, while the Nasdaq Composite popped about 2.4% higher. It was the best day since April for both indexes. The 30-stock Dow added nearly 490 points
Stocks Gain After More Encouraging Inflation Data as Rally Continues
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2023-11-15

Pre-Bell|Futures Signal More Gains on Wall Street; Target Jumped 14% on Earnings

U.S. stock index futures rose on Wednesday, paving the way for fresh gains on Wall Street, as an encouraging inflation report fueled hopes U.S. interest rates have peaked.Market SnapshotAt 8:41 a.m. ET, Dow e-minis were up 116 points, or 0.33%, S&P 500 e-minis were up 19.5 points, or 0.43%, and Nasdaq 100 e-minis were up 97.25 points, or 0.61%.Pre-Market MoversTarget (TGT) reported third-quarter adjusted earnings of $2.10 a share, beating analysts’ estimates of $1.47, and shares of the retailer jumped 14% in premarket trading.Advance Auto Parts (AAP) was falling 5% after the auto parts retailer posted a third-quarter loss of 82 cents a share versus Wall Street forecasts for profit of $1.44. The company also said it was initiating separate sale processes for its Worldpac business and it
Pre-Bell|Futures Signal More Gains on Wall Street; Target Jumped 14% on Earnings

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