Not a good day for Uber fans, with the company reporting surprising losses for the past quarter, resulting in a USD $12 billion wipe out from their market value.
In their release Uber reported a net loss of $654 million, despite analysts expecting a $477.2 million profit (Forbes).
Uber's statement revealed that this loss was due to "net unrealized losses related to the revaluation of Uber’s equity investments," the company ...
In their release Uber reported a net loss of $654 million, despite analysts expecting a $477.2 million profit (Forbes).
Uber's statement revealed that this loss was due to "net unrealized losses related to the revaluation of Uber’s equity investments," the company ...
3
If you haven't joined already, be sure to sign up to moomoo AU's paper trading comp before tomorrow!
We are holding both an AU and US market competition - so pick your poison and get to trading.
If you haven't paper traded with us before, here's the rundown:
1. We will provide you with $500,000 of virtual cash for you to place trades with.
2. Compete against other players for the highest cumulative earnings as if they were real trades.
3. Whoev...
We are holding both an AU and US market competition - so pick your poison and get to trading.
If you haven't paper traded with us before, here's the rundown:
1. We will provide you with $500,000 of virtual cash for you to place trades with.
2. Compete against other players for the highest cumulative earnings as if they were real trades.
3. Whoev...
5
The RBA met again today, announcing the decision to keep rates unchanged again - with the cash rate at 4.35%.
In the Board's release, they outlined that recent information indicated that inflation continues to moderate, but is declining more slowly than expected.
In addition, the economic outlook of Australia remains uncertain, and "the process of returning inflation to target is unlikely to be smooth" (great....).
Howeve...
In the Board's release, they outlined that recent information indicated that inflation continues to moderate, but is declining more slowly than expected.
In addition, the economic outlook of Australia remains uncertain, and "the process of returning inflation to target is unlikely to be smooth" (great....).
Howeve...
2
The last few days have been quite rough for some of Australia's biggest banks during reporting season.
With Westpac, NAB and Macquarie all reporting their latest financials, all three banks saw drops of earnings in the double digits.
NAB said its cash earnings fell nearly 13%, with Westpac and Macquarie reporting their net profit, falling 15% and 32% respectively.
Updated dividends:
Westpac: Shareholders got a higher interim d...
With Westpac, NAB and Macquarie all reporting their latest financials, all three banks saw drops of earnings in the double digits.
NAB said its cash earnings fell nearly 13%, with Westpac and Macquarie reporting their net profit, falling 15% and 32% respectively.
Updated dividends:
Westpac: Shareholders got a higher interim d...
22
$Apple(AAPL.US$ recently released their earnings for the past quarter, with their sales doing better than expected. Along with this news, they also announced that they will be doing their biggest share buy back to date for $110 billion dollars.
After this news, their stock climbed almost 6% post market close.
But for those new to investing, you might be wondering what a share buyback is and the purpose of doing it ...
After this news, their stock climbed almost 6% post market close.
But for those new to investing, you might be wondering what a share buyback is and the purpose of doing it ...
6
The US Federal Reserve Meeting decision reached a conclusion this morning, with interest rates remaining unchanged this May.
However, based on the CME FedWatch Tool and other analyst opinions, there is currently a 42.4% probability of the first rate cut coming during the September meeting.
While the markets have gone through a readjustment period due to uncertainty of whether or not there will be the three expected rate cuts t...
However, based on the CME FedWatch Tool and other analyst opinions, there is currently a 42.4% probability of the first rate cut coming during the September meeting.
While the markets have gone through a readjustment period due to uncertainty of whether or not there will be the three expected rate cuts t...
4
Both Amazon and AMD released their Q1 earnings early this morning after market close, however one companies share is going up, and the other is going down in price.
$Advanced Micro Devices(AMD.US$: Shares down 6.57% post market
Earnings for Q1:
Earnings per share: 62 cents adjusted versus 61 cents expected
Revenue: $5.47 billion vs. $5.46 billion expected.
AMD said it expects about $5.7 billion in sales in the current quarter, in line with Wall Str...
$Advanced Micro Devices(AMD.US$: Shares down 6.57% post market
Earnings for Q1:
Earnings per share: 62 cents adjusted versus 61 cents expected
Revenue: $5.47 billion vs. $5.46 billion expected.
AMD said it expects about $5.7 billion in sales in the current quarter, in line with Wall Str...
7
We might be a bit late to the party, but in case you didn't see the news reports yesterday; VanEck, BetaShares and DigitalX are all working towards establishing an Australia based Bitcoin Spot ETF traded on the ASX.
Bloomberg reports that these developments could come about before the end of 2024, just trailing behind the recent momentum of the Bitcoin ETF buzz.
In addition, CoinSpot reported that Cboe, ASX's smaller rival, has also received applications...
Bloomberg reports that these developments could come about before the end of 2024, just trailing behind the recent momentum of the Bitcoin ETF buzz.
In addition, CoinSpot reported that Cboe, ASX's smaller rival, has also received applications...
5
Congratulations to our Easter Giveaway winners!
We had quite a lot of international participants, thank you for the global love for the Australian community
However, since our Grand Prize is hand-posted by the Sydney office, our winner must be located in Oz
Sooooooooooooo the winners are:
🥇 Grand Prize: @Yen Yieng Lee
🥈 Runner-up: @102362254
🥉 Second Runner-up: @Jia Wei Teh
Points will be rewarded to the winners by our Community Team, and the merch will be sent out once w...
We had quite a lot of international participants, thank you for the global love for the Australian community
However, since our Grand Prize is hand-posted by the Sydney office, our winner must be located in Oz
Sooooooooooooo the winners are:
🥇 Grand Prize: @Yen Yieng Lee
🥈 Runner-up: @102362254
🥉 Second Runner-up: @Jia Wei Teh
Points will be rewarded to the winners by our Community Team, and the merch will be sent out once w...
7
2
The Australian Bureau of Statistics (ABS) released the Consumer Retail Trade figures for the month March, seeing a 0.4% decline in overall retail spending (seasonally adjusted).
Ben Dorber, ABS Head of Retail Statistics, said: “Consumers pulled back on retail spending in March as cost of living pressures remained high."
The biggest drop in the month was in the "Clothing, footwear and personal accessory retailing" category. H...
Ben Dorber, ABS Head of Retail Statistics, said: “Consumers pulled back on retail spending in March as cost of living pressures remained high."
The biggest drop in the month was in the "Clothing, footwear and personal accessory retailing" category. H...
16