LB Pre-market | Microsoft to cut 1% of its workforce, Goldman Sachs take JD.com off its Conviction Buy List
Alibaba rose 0.68%, NetEase rose nearly 1%, JD.com fell nearly 1%, BEKE、 Tencent Music fell more than 1%.Microsoft, Apple, Amazon, Google, Netflix and Meta falling less than 0.3%.
News
1. Alibaba's Hema is seeking financing at a valuation of about $6 billion.
2. The ZEW economic sentiment index in the euro area recorded -51.1 in July, the lowest since December 2011.
3. Microsoft announced that it will cut less than 1% of its global workforce across multiple divisions including consulting, customer and partner solutions.
4. On July 11, local time, according to several French media reports, French President Emmanuel Macron reached a secret deal with Uber during his tenure as the French Minister of Economy, Industry and Digital Affairs. (CCTV News)
5、Tencent Holdings: repurchased 890,000 shares on July 12, 2022 at a repurchase price of HK $337-340, at a cost of about HK $300 million.
6、PepsiCo's 2022 Q2 revenue is $20.225 billion, net profit is $1.429 billion, organic sales are expected to grow by 10 % in fiscal 2022 (previously expected to be 8%), and core fixed exchange rate earnings per share are still expected to grow by 8%.
7、According to ETNews, Apple has confirmed that its OLED display iPad will be released in 2024. Apple is working with some display partners to produce the final prototype of the OLED iPad.
8. Twitter: We will continue to provide the information reasonably requested by Musk in accordance with the agreement, and strive to take all necessary measures to complete the transaction. The agreement with Musk has not been terminated, and the bank debt undertaking and equity undertaking are still valid.
Pre-market movement
In premarket trading, Dow Jones futures were down 0.75%, Nasdaq futures were down 0.15%, and S & P 500 futures were down 0.54%.
Gap fell nearly 6% amid the departure of CEO Sonia Syngal and expectations for a median single-digit drop in revenue in the second quarter.
US 2-year and 10 -year Treasury yield curves inverted by 10 basis points.
Alibaba rose 0.68%, NetEase rose nearly 1%, JD.com fell nearly 1%, BEKE、 Tencent Music fell more than 1%.
US Big tech stocks narrowed their losses, with Microsoft, Apple, Amazon, Google, Netflix and Meta falling less than 0.3%.
Canoo surged more than 74% in premarket trading, taking orders for 4,500 all-electric delivery vans from Walmart.