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
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
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%
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
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
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
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
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