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    Home Unlabelled Stock Market - Market close - Wednesday, March 2nd, 2022

    Stock Market - Market close - Wednesday, March 2nd, 2022

    March 03, 2022

    Stock Market - Market close - Wednesday, March 2nd, 2022

    Market close - Wednesday, March 2nd, 2022

    Posted: 02 Mar 2022 02:21 PM PST

    "Tesla has created over 50,000 US jobs building electric vehicles & is investing more than double GM + Ford combined [fyi to person controlling this twitter]" Why Biden ignored Tesla? Elon is pissed about being ignored today!

    Posted: 02 Mar 2022 05:58 PM PST

    Ford jumps 9% after announcing plans to split electric vehicles and gas-powered cars into separate units

    Posted: 02 Mar 2022 01:54 PM PST

    London Stock Exchange suspends trading in 27 firms with strong links to Russia

    Posted: 03 Mar 2022 02:51 AM PST

    Fitch, Moody's slash Russia's sovereign rating to junk | Reuters

    Posted: 02 Mar 2022 11:41 PM PST

    Here is a Market Recap for today Wednesday, March 2, 2022

    Posted: 02 Mar 2022 01:53 PM PST

    PsychoMarket Recap - Wednesday, March 2, 2022

    Stocks rose on Wednesday as market participants continued to weigh developments in the Russia/Ukraine conflict and digested new remarks by Fed Chair Jerome Powell, who said the central bank remains on track to raise interest rates later this month (March 16).

    Markets Today

    • S&P 500 (SPY): +1.84%
    • Nasdaq (QQQ): +1.68%
    • Dow Jones (DIA): +1.75%
    • Russell 2000 (IWM): +2.38%
    • Volatility Index (VIX): -7.71%
    • Snowflake (SNOW): -30% after-hours
    • NVIDIA (NVDA): +3.18%
    • Apple (AAPL): +2.06%
    • Nordstrom (JWN): +38.38%
    • AMD: +3.91%

    As a major producer of oil and natural gas, Russia's invasion of Ukraine has caused energy prices to skyrocket, with crude oil prices hitting as high as $112 per barrel, the highest level since 2011. OPEC+ said Wednesday that it would continue to increase output in April by 400,000 barrels per day compared to March, keeping this rate of production increases in line with recent months' rises despite strained oil supplies.

    The latest move higher in energy markets also came even after the International Energy Agency agreed to release 60 million barrels from global stockpiles to help ease the pressure on the energy market.

    The West responded to Russia invasion of Ukraine by imposing sweeping sanction, including restrictions on Russia's central bank, access to the SWIFT global payments system, and freezes on a variety of key Russian institutions' and officials' assets, among some other measures. The sanctions have so far cratered the Russian economy, collapsing their stock market and the value of their currency and triggering bank runs.

    Many major companies have also added further pressure to Russia, including Apple (AAPL), which said Tuesday it would pause all product sales to the country, and Disney (DIS), which said it will stop releasing films in Russia.

    In the US, market participants digest new remarks from Jerome Powell as he gave his semi-annual monetary policy testimony before Congress. Most notable, Powell said he was "inclined" to support a 0.25 basis point increase to the interest rate, rather than the 0.5 basis point increase some other Fed members have suggested.

    Ian Shepherdson, chief economist at Pantheon Macroeconomics said, "We think it likely that the next forecasts, due three weeks from now, would have shown five or even six [interest rate] increases this year, before the invasion of Ukraine. Now, we'd be very surprised to see six tightenings, and some of the wilder market forecasts now look adrift. We never expected a 50bp [basis point] move in March, and it looks even less likely now."

    Highlights

    • The Mortgage Banker Association (MBA) said Wednesday that weekly mortgage application volume declined by 0.7% during the week ended Feb. 25. This followed a 13.1% plunge during the prior week.
    • ADP said Wednesday that private payrolls grew by 475,000 in February, coming in 100,000 greater than consensus economists were expecting
    • Shares of Ford (F) rose by about 5% Wednesday morning after the automaker announced plans to separate its electric vehicle and legacy internal combustion businesses into two separate units. The move confirms a report from Reuters last week
    • Netflix (NFLX) has temporarily stopped all future projects and acquisitions in Russia amid its invasion of Ukraine, Variety reported on Wednesday.
    • Apple Inc will host its annual spring product launch event on March 8. The company is expected to launch a low-cost version of the iPhone SE with 5G, a new version of the iPad Air and a high-end Mac Mini.
    • Alphabet Inc's Google said on Tuesday that it has blocked mobile apps connected to Russian state media.
    • Netflix has offered to buy publicly listed Finnish Next Games, the mobile games company said in a statement on Wednesday. "We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities," said Netflix's Vice President of games Michael Verdu.
    • Nvidia has confirmed that it was hacked — and that the actor behind last week's "incident" is leaking employee credentials and proprietary information onto the internet. In a statement to PCMag, Bloomberg, and VideoCardz, the company says it became aware of the breach on February 23rd, and that it does "not anticipate any disruption to [its] business or our ability to serve our customers as a result of the incident."

    "Many of life's failures are people who did not realize how close they were to success when they gave up." -Thomas A. Edison

    submitted by /u/psychotrader00
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    Bets against energy stocks are at the highest in more than a year as the Ukraine crisis drive oil prices over $100 per barrel, S&P Global says

    Posted: 02 Mar 2022 01:55 PM PST

    S&P 500 PE Ratio - Understanding Market Valuations

    Posted: 03 Mar 2022 02:15 AM PST

    Filtered Indian FMCG and IT stocks for long side opportunity

    Posted: 03 Mar 2022 12:16 AM PST

    3/2 Bond market had me in knots last night (& dirty bird inflation)

    Posted: 02 Mar 2022 01:02 PM PST

    Today is different than what we went into last night and when we were running to Gold

    At market open Powell changed courses and said we are getting the increases (need 50bps, might be 25bps) to steady bond market (see below for 3 month TBill indicator)

    This situation is why I had GOLD even in my portfolio Gold is not something I would be able to in good faith recommend to a client, but knowing what's on the table - I own them. See notes from 2/27 Gold positions will need to change as interest rates change - Powells signal this morning 3/2 had investors selling some of their gold hedge

    **This is for use case purposes only -

    As of 3/1 FED announcement said absolute no QT (quantitate tightening) implementation - this means the monthly buy continues (FED is propping up bond market w the 60 billion monthly buy called QE) nor will there be 25, 50 bps increase of Fed Funds rate, and we really needed these as scheduled 3rd week of March to curb inflation

    Inflation 3/1 Last month inflation last reported was 7.5%, this means negative real return on most assets we are sitting on as of 3/1/22

    With the magnitude of Russian sanctions and junk bond devaluations still being consumed by investment houses, these findings will continue to be released - causing volatility in bonds and then stocks respond - if too drastic hot potato is passed back to the Fed

    Yesterday 3/1 seeing the hedges mentioned earlier (FASGX, PSLV, GOLD) - seeing them increase rapidly - is the signal there are major concerns in the bond market

    Bond market - This is the indicator to watch:

    • 3 month TB (treasury bill) yield - could have flipped at open - if Powell hadn't signaled to market this morning 3/2 we will get 25, 50bps

    Article from last time it happened March 22 2020 (significant in an uncomfortable way) - it's when QE mentioned above had to begin COVID free-fall

    This is what we call making markets and why we have QE on the books to begin with…

    https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/25/negative-rates-come-to-the-us-1-month-and-3-month-treasury-bill-yields-are-now-negative.html

    submitted by /u/HuckleberryNo6576
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    How likely are Russian Sanctions to create an Evergrande/ 2008 Housing Crisis Situation

    Posted: 02 Mar 2022 05:51 PM PST

    The combination of these two news articles got me thinking.

    https://www.forbes.com/sites/giacomotognini/2022/03/02/germans-seize-russian-billionaire-alisher-usmanovs-mega-yacht/?sh=59e4660c52dd

    https://fortune.com/2022/03/02/credit-suisse-shred-evidence-loans-to-russian-oligarchs-superyachts-private-jets/

    How many Russian assets have major loans/ synthetic securities written against them as the underlying? From my understand we learned nothing from 2008 except to screen mortgage loan applicants better. The synthetic securities market remains unchanged.

    Anyone with some technical knowledge have any idea if these sanctions and asset seizures may end up exposing risky CDO type products? And what fall out that may have to the broader world economy.

    submitted by /u/Slowbutstrong
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    Zuora Reports Fourth Quarter and Full Year Fiscal 2022 Results + Zuora Announces $400 Million Strategic Investment from Silver Lake to Accelerate Growth and Extend Leadership in the Subscription Economy

    Posted: 02 Mar 2022 03:04 PM PST

    Full Year Fiscal 2022 Financial Results:

    Revenue: Total revenue was $346.7 million, an increase of 14% year-over-year. Subscription revenue was $287.7 million, an increase of 19% year-over-year. GAAP Loss from Operations: GAAP loss from operations was $96.2 million, compared to a GAAP loss from operations of $73.9 million in fiscal year 2021. Non-GAAP Loss from Operations: Non-GAAP loss from operations was $8.1 million, compared to a non-GAAP loss from operations of $8.6 million in fiscal year 2021. GAAP Net Loss: GAAP net loss was $99.4 million, or 29% of revenue, compared to a GAAP net loss of $73.2 million, or 24% of revenue, in fiscal year 2021. GAAP net loss per share was $0.80 based on 124.2 million weighted-average shares outstanding, compared to a net loss per share of $0.62 based on 117.6 million weighted-average shares outstanding in fiscal year 2021. Non-GAAP Net Loss: Non-GAAP net loss was $11.3 million, compared to a non-GAAP net loss of $7.9 million in fiscal year 2021. Non-GAAP net loss per share was $0.09 based on 124.2 million weighted-average shares outstanding, compared to a non-GAAP net loss per share of $0.07 based on 117.6 million weighted-average shares outstanding in fiscal year 2021. Cash Flow: Net cash provided by operating activities was $18.7 million, compared to net cash provided by operating activities of $11.3 million in fiscal year 2021. Free Cash Flow: Free cash flow was $10.3 million compared to negative $0.9 million in fiscal year 2021. A description of non-GAAP financial measures is contained in the section titled "Explanation of Non-GAAP Financial Measures" below and a reconciliation of GAAP and non-GAAP financial measures is contained in the tables below.

    REDWOOD CITY, Calif.Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, today announced a $400 million strategic investment from Silver Lake, a global leader in technology investing. The partnership reinforces Zuora's leadership position and will empower Zuora to accelerate growth, including potential targeted acquisitions to expand its quote-to-revenue product portfolio.

    "This investment is a validation of the undeniable momentum in the Subscription Economy," said Tien Tzuo, Founder and CEO at Zuora. "As the market expands, companies are turning to us to assist them to monetize new services, and this partnership will help increase our ability to deliver on this large opportunity."

    Zuora's Subscription Economy Index™ (SEI) shows that subscription businesses continue to outpace S&P 500 growth rates, achieving 4.6x faster growth1 over the past decade. Across industries, from SaaS disruptors, to established manufacturing incumbents, to digital media brands, companies are recognizing the power and resilience of these new business models.

    "Zuora continues to demonstrate it is the clear leader and partner of choice for companies that participate in the vast and growing Subscription Economy," said Joe Osnoss, Managing Partner at Silver Lake. "New industries continue to join and pursue these new business models. We look forward to helping Zuora accelerate the company's strategy for the benefit of all stakeholders."

    Upon closing of the Silver Lake investment, Mr. Osnoss will join Zuora's Board of Directors, bringing extensive strategic business experience.

    Under the terms of the agreement, upon the initial closing on or about March 24, 2022, Silver Lake will purchase $250 million aggregate principal amount of convertible senior unsecured notes due 2029, with an initial conversion price of $20.00 per share, subject to customary closing conditions. The notes will bear interest at a rate 3.95% per annum, payable quarterly in cash, provided that Zuora may elect to pay interest in kind at 5.50% per annum payable quarterly. The remaining $150 million is expected to close at a later date within 18 months of the initial closing. Zuora has also agreed to issue Silver Lake warrants to purchase up to 7,500,000 shares of Class A Common Stock, exercisable for a period of seven years, and of which (i) 2,500,000 shares shall be exercisable at $20.00 per share, (ii) 2,500,000 shares shall be exercisable at $22.00 per share and (iii) 2,500,000 shares shall be exercisable at $24.00 per share. Additional information may be found in a Form 8-K that will be filed with the U.S. Securities and Exchange Commission.

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