Alibaba shares in Hong Kong rose 4% before earnings
Alibaba is expected to report 203.19 billion yuan ($30 billion) in revenue for the June quarter, down 1.2% from a year ago, according to consensus forecasts from Refinitiv.
Alibaba has faced a number of headwinds, from a tighter regulatory environment in China to the resurgence of Covid in the world’s second-largest economy leading to the shutdown of major cities. These factors have weighed on the Chinese economy, leading to a decline in advertising budgets and consumer spending, which is likely to affect Alibaba’s June quarter results.
However, analysts expect the company to return to growth in the coming quarters. Alibaba’s Hong Kong-listed shares rose more than 4% before earnings.
– Arjun Kharbal
Jim Kramer says the charts are pointing up gold
CNBC’s Jim Cramer said: Now is the time to buy gold The signs are pointing higher, according to analysis by commodity trader Larry Williams.
The “mad moneyThe host explained Williams’ analysis by looking at the weekly movement of gold from 2014 and data on the status of small gold speculators from the Commitments of Traders Report from the Commodity Futures Trading Commission.
Gold prices usually peak shortly after petty speculators have surged on the precious metal, and bottom out when petty speculators are bearish, according to Williams.
“The graphs, as interpreted by legendary Larry Williams, indicate that the general public is giving up gold en masse and believes that this makes it the ideal entry time to make some buying,” Cramer said.
Abigail Ng, Crystal Hor
Here’s how to invest for returns to beat a bad year for stocks and bonds – according to the professionals
Stocks are volatile, and bonds have not done better for most of this year, with investment-grade US bonds lowering in 2022.
But analysts have been bullish lately on income investing as returns are starting to rise again.
Here are some of the ways the professionals suggest that investors can position their portfolios in order to diversify and protect against market volatility as well as seek higher returns as inflation continues to rise. Professional subscribers can read the story here.
– Weezin Tan
The fall of the shares of Fortinet
Shares of Fortinet fell more than 9% in extended trading after the cybersecurity company reported its quarterly results, which included free cash flow of $283.5 million, compared to FactSet’s estimate of $337.2 million. Service revenue also missed estimates.
Other cyber security stocks also declined after hours. CrowdStrike is down 1% and Palo Alto Networks is down more than 1%.
– Tanaya Michel
Walmart Objects laid off, about a week after it warned about profits
Owns Walmart I started laying off the company’s employees After about a week of the retail giant It lowered its earnings forecast He warned of a decline in consumer consumer spending due to inflation. The company described the layoffs as a way “to better position the company for a strong future,” in a statement to CNBC. Shares are down less than 1% after hours.
– Tanaya Michel
Lucid shares falter about 12%
Shares in the luxury electric car maker Lucid Group 11.7% in extended trading after the company Reducing production targets for the whole year The second time to 6000. The original forecast was 20,000. The company also posted a quarterly loss of 33 cents a share.
– Tanaya Michel
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”