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US Stock Futures bounced on Wednesday, getting a boost from Dow stocks MicrosoftThe premarket jump of more than 5% following a better-than-expected quarterly earnings report after the closing bell on Tuesday. However, Google parent Alphabet it fell 2.5% in pre-market on Wednesday, the morning after the weak earnings. Facebook’s father Metaplatforms Y Ford are among the many companies to release quarterly results after the closing bell on Wednesday.
- technology stocks drove Wall Street sharply lower Tuesday. The nasdaq it lost almost 4%, its biggest single-session loss since September 2020. It sank further into bear market territory, defined by a drop of 20% or more from its most recent highs. Tesla fell 12% on CEO concerns Elon MuskI try to buy Twitter. Tesla shares rallied, up almost 2.5% before trading.
- The Dow Jones Industrial Average on Tuesday it fell 809 points, or 2.4%, around a correction from its last record close.
- The S&P 500 fell 2.8%, falling further into correction territory, defined by a drop of 10% or more from recent highs.
- benchmark 10-year Treasury yield scored highest on Wednesday but it was under a recent high of over 2.94%, a level not seen since late 2018.
Satya Nadella, CEO of Microsoft Corp., speaks at Microsoft’s Build developer conference in San Francisco on March 30, 2016.
David Pablo Morris | Mayor Bloomberg | fake images
microsoft won an adjustment of $2.22 per share in its fiscal third quarter on an 18% year-over-year revenue increase to $49.36 billion. But it was the upbeat guidance that really sent shares higher in after-hours trading. Fiscal fourth-quarter revenue guidance for each of the company’s three business segments — productivity, cloud and personal computing — beat the expectations of analysts surveyed by StreetAccount.
CEO of Alphabet and Google Sundar Pichai during a press conference at the Chancellery in Warsaw, Poland, on March 29, 2022.
Mateusz Wlodarczyk | Nurfoto | fake images
of the alphabet failures in the first quarter were widespread, with earnings per share of $24.62 per share, overall revenue of $68.01 billion, and ad revenue for Google’s YouTube of $6.87 billion. On a plus point, so-called Other Bets, which includes self-driving car unit Waymo, nearly doubled its revenue from a year ago to $440 million. However, the drive loss was slightly widened. Alphabet said its board has authorized $70 billion in share buybacks.
Signage is shown at the Boeing Co. headquarters building in Chicago, Illinois, USA, on Monday, April 27, 2009. Boeing Co. last week lowered its 2009 earnings forecast by less than what Analysts predicted, reaffirming the year’s delivery schedule even during the recession prompts airlines to defer orders and forces the planemaker to further delay a model.
Tim Boyle | Mayor Bloomberg | fake images
boeing On Wednesday reported a much larger adjusted loss and lower revenue than analysts expected as the company faced higher costs on both commercial and defense aircraft. Dow shares lost 3% in premarket. Boeing has enjoyed a resurgence in demand for its 737 Max plane, which returned to service in late 2020 after two fatal crashes. But production problems and certification delays have hampered other aircraft programs.
The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan on March 16, 2021.
Rebecca Cook | Reuters
general motors On Tuesday night it reaffirmed its profit expectations for 2022 despite reporting lower net profit and margin in the first quarter compared to a year ago due to rising costs and supply chain instability. GM shares rose nearly 2% in premarket trading on Wednesday. The automaker beat estimates with first-quarter adjusted earnings per share of $2.09. However, GM failed with quarterly revenue of $35.98 billion.
In this photo illustration, the Twitter logo is shown on the phone’s screen, with Elon Musk’s Twitter account in the background. Twitter was inundated with reports of high-profile account users losing thousands of followers in the hours after news broke that Tesla CEO Elon Musk was buying the social network.
Sheldon Cooper/SOPA Images | Light Rocket | fake images
Musk might be required to pay Twitter a $1 billion termination fee, in some circumstances, such as if the CEO of Tesla and SpaceX fails to raise enough debt funds to complete their $44 billion deal to buy the social network, according to a new SEC filing. On the other hand, Twitter would owe Musk a $1 billion breakup fee if it fails because it finds a competing offer or if shareholders reject the deal, according to the same document.
Gazprom workers on Russia’s Yamal Peninsula.
Mayor Bloomberg | Mayor Bloomberg | fake images
Russian natural gas supplies to Eastern Europe they look very uncertain after the country’s state-run Gazprom told Poland and Bulgaria it would stop deliveries. The move comes after both countries rejected Moscow’s recent demand to pay for natural gas in rubles. It also coincides with a sharp rise in tensions between Western allies and Russia as the war in Ukraine continues into its third month. Gazprom said supplies would resume once ruble payments were made.