Dear friends, today is not the day for growth stocks.
Here the news of the top today's Market Movers (Part 2 of 2):
? $RKT.L (Reckitt Benckiser) -12.46%
Another earnings miss here, shares are down sharply after reporting EPS that missed expectations by $.01 while revenue also came in below expectations. Q1 Revenue rose 236% to $4.6b. During the quarter RKT shares saw outsized moves and became among stocks experiencing gyrations after becoming a focus of investors on sites such as Reddit's WallStreetBets.
? $VIAC (ViacomCBS Inc.) 2.17%
In its first quarterly report since being caught up in the Archegos mess VIAC posted quarterly revenue that beat Wall Street estimates, driven by growth in affiliate fees and an uptick in broadcast TV advertising thanks to the Super Bowl airing on its CBS network. Despite intense competition from major streaming players like Netflix and Disney+, ViacomCBS was also able to capitalize on its platform Paramount+ through its sports and news broadcast, as some live sporting events resumed. Affiliate fees, which refer to the fees collected from cable, satellite and online distributors, gained 5% at $2.08 billion in the first quarter.
? $PYPL (PayPal Holdings) 4.63%
Higher this morning after reporting record quarterly profit as the online financial transactions service benefited from an e-commerce trend boosted by the pandemic. PayPal said it made a profit of $1.1 billion in the recently ended quarter, compared with $84 million in the same period last year. The company said it processed 4.4 billion payment transactions in the quarter, with a total value of $285 billion. Revenue in what the company said was its best first-quarter financial performance ever was $6.03 billion, up 31 percent from the same period last year.
? $PFE (Pfizer), MRNA , $NVAX (Novavax Inc) -6.87%
Lower as a group following yesterday's move from the Biden Administration to back a proposed move by the WTO that would see a temporarily lift patent protection for coronavirus vaccines. VXRT, OCGN, NVAX, MRNA, PFE
by @Kainite , Hugo Silva
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