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Msg  71215 of 71821  at  3/9/2022 9:58:04 AM  by

carswell


Coffee/Summaries

Web Version

Wednesday, March 9, 2022

In today’s Morning Coffee…

BEFORE THE OPEN
Source: Thomson Reuters

  • Canada's main stock index was poised to open higher, after two consecutive days in losses, as riskier assets attempted a comeback, although further gains were limited by weakness in oil and gold prices
  • U.S. stock index futures jumped after four straight sessions of losses on Wall Street, with investors snapping up stocks hammered by concerns over Western sanctions on Russia following its invasion of Ukraine
  • European shares also rebounded as traders picked up beaten-down stocks following a recent rout, while most Asian stocks struggled for footing
  • In currency markets, the euro rose, ahead of the European Central Bank’s meeting on Thursday
  • The U.S. dollar was lower against a basket of currencies
STOCKS IN THE NEWS
Source: Thomson Reuters
Coca-Cola Co. (KO) & PepsiCo Inc. (PEP):
  • The companies said on Tuesday they are suspending sales of their sodas in Russia, becoming the latest high-profile Western consumer brands to curtail operations in the region following Moscow's invasion of Ukraine
  • PepsiCo, whose colas were one of the few Western products allowed in the Soviet Union prior to its collapse, said it would continue to sell daily essentials, such as milk and other dairy offerings, baby formula and baby food, in Russia
Lumen Technologies Inc. (LUMN):
  • One of the companies that comprises the backbone of the internet, said on Tuesday it was pulling the plug on Russia because of an "increased security risk."
  • Lumen said in a brief statement it provides "extremely small and very limited" business services in Russia
  • "We decided to disconnect the network due to increased security risk inside Russia," the company said in a statement
Netflix Inc . (NFLX):
  • A senior Netflix executive said on Tuesday the company had no current plans to offer a streaming option that included advertising but declined to rule it out in the future
  • "Never say never," CFO Spencer Neumann said when asked if the company would change its long-standing position that its service should remain ad-free
  • Some Wall Street analysts have urged Netflix, the world's largest streaming service, to develop a lower-cost tier with advertising to boost revenue
  • The company's pace of new subscribers has slowed in recent quarters, and Netflix shares have fallen nearly 43% this year
EARNINGS SPOTLIGHT
Source: Thomson Reuters

Bumble Inc. (BMBL):
  • The company on Tuesday beat fourth-quarter profit estimates and said it expected strong growth at its Bumble app in 2022, sending the dating company's shares up over 20% in extended trading
  • It said combined revenue from Russia, Ukraine, and Belarus was about 2.8% of total annual revenue in 2021
  • It expects to lose about $20 million in revenue from the region this year
  • For 2022, Bumble forecast full-year 2022 revenue between $934 million and $944 million, the mid-point of which is nearly in line with analysts' estimates
  • Excluding items, Bumble earned 13 cents per share for the quarter ended Dec. 31
  • Analysts on average had expected the company to break even on a per share basis
  • The company also said it is discontinuing operations in Russia, joining a growing number of firms that are exiting the country following its invasion of Ukraine
  • Bumble is also removing all of its apps from the Apple App Store and Google Play Store in Russia and Belarus
THINGS TO KNOW
Source: Bloomberg Finance L.P.
  • The war in Ukraine continues to dominate everything
  • While cease-fire talks have produced little progress so far, agreement has been reached on opening some humanitarian corridors today
  • The rapid rise in global commodity prices has slowed today, with crude slipping below recent highs
  • Nickel trading in London remains suspended



Argonaut Gold Inc.* (AR: $2.46)
Cargojet Inc.* (CJT: $149.32)




Intercept Pharmaceuticals * (ICPT: $13.76)
Palatin Technologies* (PTN: $0.38)
Rover Group* (ROVR: $4.85)

WEALTH AND ESTATE PLANNING
Will you remain involved in the business after the transfer or sale? Why is this important to you?

INDUSTRY UPDATE
Oil
MORNING INK REPORT
Is a contrarian opportunity cooking up at MTY Food Group?



MACRO - EVENT SCHEDULE
Sources: Bloomberg Finance L.P.
US MBA Mortgage Applications came in at 8.5%

MOST READ NEWS
Source: Bloomberg Finance L.P.
Putin’s Endgame Starts to Look Like Reducing Ukraine to Rubble



“Opportunities don't happen. You create them.”
- Chris Gosser

ASSET CLASS PERFORMANCE
Source: FactSet
*All numbers presented on the table below are based on total return

*All prices are in local currencies



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