Entertainment

Top Stock Market News for Today June 10, 2022 | News

Stock Market Futures Swing Forward May Consumer Price Index Report

US Stock Futures they are muted in today’s morning trade. As we near the end of another busy trading week, investors are likely waiting for data on the economy. Namely, this would be the case as the US Bureau of Labor Statistics will release its latest Consumer Price Index (CPI) reading later today. As it stands, consensus estimates compiled by Bloomberg suggest a year-over-year CPI increase of 8.3%. Furthermore, month on month, headline inflation is expected to have risen at a notable 0.7% pace. If this were the case, it would mark a substantial acceleration from April’s 0.3% rise.

Commenting on all this in more detail is KPMG Senior Economist Tim Mahedy. He writes, “Headline CPI is likely to remain above 8%, making another 50bp rise in September increasingly likely.Mahedy continues:I said last month that we needed headline CPI to fall below 8% or we would see an increased risk of the Fed pushing rates above neutral in the fourth quarter.Overall, the economist thinks inflation will ease, albeit at a slower pace than the Fed expects. Other than that, it looks like there’s plenty of notable stock market news today for investors to digest as well. As of 5:12 am ET, the Dow is trading down 0.09%. Meanwhile, S&P 500 and Nasdaq futures are trading up 0.04% and 0.29%, respectively.

DiDi Global will delist from the NYSE today, June 10

To get started, DiDi Global (NYSE: DIDI) would be making headlines in the stock market today. This could be the case as DIDI shares are last listed on the New York Stock Exchange (NYSE) today. After a bumpy year, the mobility technology firm will be delisted. Consequently, this move follows a shareholder vote due to mounting pressure from the Chinese government. The likes of which currently have a new customer ban for adding new customers on DiDi Global. In fact, the condition for lifting this ban would be that the company first leave the New York Stock Exchange.

Despite all this, it is not clear if China will lift the ban after this exclusion. According to Nikkei Asia sources, doing this does not “will automatically lead to a relaunch of DiDi apps in China.However, the ride-sharing company continues to make progress in its quest to grow operations. Earlier this week, a Reuters report indicates that DiDi is going electric. In detail, the company is reportedly considering buying a stake in Sinomach Automobile’s electric vehicle (EV) unit.

Furthermore, the report notes that DiDi plans to buy a 33% stake in the company, for a total of $150 million. If things go as planned, DiDi would be Sinomach’s second largest shareholder. It is safe to say that there would certainly be no shortage of coverage in DIDI stock today.

DIDI Shares
Source: TradingView

[Read More] Most active stocks today? 5 Chinese stocks for your watch list

DocuSign falls after larger-than-expected quarterly losses

At the same time, the actions of docusign (NASDAQ: DOCU) appear to be reeling after the company’s latest quarterly update. Getting straight to the point, the electronic signature software firm posted mixed results in its fiscal first quarter report. According to the press release, DocuSign’s earnings per share for the quarter is $0.38. Additionally, the company’s total quarterly revenue is $588.7 million. For reference, consensus figures on Wall Street are earnings of $0.46 per share on revenue of $581.8 million. Even after beating Wall Street’s earnings forecast, DOCU’s shares are feeling the impact of the company’s profit loss.

Dan Springer, CEO of DocuSign, provides an overview of the latest quarterly performance. He begins by saying: “We delivered strong results in the first quarter, growing revenue by 25% year-over-year and adding nearly 67,000 new customers, bringing our total global customer base to 1.24 million.Despite the company facing pressure to return to physical offices, its offerings continue to be in demand. DocuSign’s core business solutions arguably provide a sense of convenience for organizations moving toward hybrid work environments.

Springer adds, “With over a billion users worldwide, the proven value of our products, and the significant opportunity that lies ahead, we are confident in our ability to successfully meet the challenges of a dynamic global environment.Combine this confidence with the recent expansion of the company’s partnership with Microsoft (NASDAQ: MSFT) and DOCU stock could be worth considering. With this in mind, long-term investors might be interested in the company’s stock after its latest move lower.

DOCU Actions
Source: TradingView

[Read More] Best Food Stocks to Watch in June 2022

Vail Resorts gain height after beating Wall Street estimates in latest quarterly update

Secondly, Resorts in Vail (NYSE: MTN) appears to be gaining momentum on the back of its earnings update. Looking at fiscal third quarter results, the mountain resort operator is above consensus estimates on both the top and bottom lines. According to the earnings report, Vail’s quarterly earnings per share is $9.16, while its revenue is $1.18 billion. For comparison, this is against consensus figures of an earnings per share of $9.04 and revenue of $1.16 billion on Wall Street. Not to mention, the company is also declaring a quarterly cash dividend of $1.91 per share, payable on July 12, 2022.

Kirsten Lynch, CEO Kirsten Lynch weighs in on Vail’s exceptional quarter. She points out, “We are pleased with our overall results for the quarter and for the 2021/2022 North American ski season. As expected, results for the quarter significantly outperformed prior year results, primarily due to the increased impact of COVID-19 and related limitations and restrictions on results in the prior year period.Also in the report, the company anticipates net income of between $314 million and $348 million for the current quarter. This would be compared to his previous outlook of $304 million to $350 million. As such, would you consider MTN stock to be one of the top hospitality stocks to buy on the stock market today?

MTN Stocks
Source: TradingView

[Read More] The best gaming stocks to buy in 2022? 5 to see

Biden Administration Lays Out Plans For Nationwide Electric Vehicle Network; BYD to supply Tesla with batteries for electric vehicles

In other news, there also seems to be a surge in activity in the home electric vehicle space today. In particular, the White House outlined new initiatives to achieve President Biden’s sustainability goals. Going into detail, this update revolves around the president’s plans to build a network of electric vehicle chargers across the United States. To get a sense of scale, his current plans involve building 500,000 charging stations on key highways and in rural communities. This would involve using the $7.5 billion in EV infrastructure funds from Biden’s Bipartisan Infrastructure Act.

Along with this major upgrade at the federal level, major electric vehicle companies like Tesla (NASDAQ: TSLA) continue to grow as well. Just earlier this week, the company received positive news from BYD (OTCMKTS: BYDDY), a massive producer of electric vehicles in the Chinese market. According to BYD Vice President Lian Yubo, the company is set to supply Tesla with EV batteries.”Coming Soon.“All in all, I wouldn’t be surprised to see all of these developments draw attention to the top EV stocks in the stock market today.

TSLA Stock
Source: TradingView

If you enjoyed this article and are interested in learning how to trade for the best chance of making profits on a consistent basis, then you should check out this YouTube channel. CLICK HERE RIGHT NOW!!

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button