Amazon's Apple and a Review on Markets.
Amazon's Apple and a Review on Markets.
Amazon was the week's worst performer on the large-cap counters, dragging U.S Markets after performing below analyst expectations
Hey Hisa Fan,
Amazon seemed not to have followed Bezos to space, while releasing their first results without Bezos at the helm, the giant online retailer performed below analysts expectations, sending the company’s shares to some of the worst declines this year. Amazon was the top declined on the large-cap counters listed on the S&P 500 Index.
Amazon's quarterly revenue jumped 27% from last year to $113B , guess what? Amazon's Fire TV Stick 4K with Alexa Voice Remote was the most-purchased product, looks like the “age of Ultron” is here, the AI is finally taking over, lots of people seem to love Alexa already, should we tell them?
A decline in Amazon’s shares weighed on the consumer discretionary sector following news Thursday evening that the online retailer missed consensus second-quarter revenue expectations. It was the busiest week of the earnings season for major global markets, with 177 of the S&P 500 companies expected to report second-quarter results,
On the other note, Apple Inc, the world’s third-largest smartphone company (well, you know, the one Xiami beat in production in 2Q2021), posted one of the best results in its 45-year of operations. iPhone was the fastest-growing product from the company as android users increased their transit to the fruit phone, making up nearly half of Apple's $81.4B in quarterly sales. Maybe we need to wait for the 3Q21 data for smartphones before calling shots in Xiaomi’s favour.
Other tech companies including Microsoft & Tesla released their financials with most of them beating analyst estimates. One
Riddle this: You order an apple on Amazon and it’s delivered by Doordash
Local Markets
During the week on the local front, Centum Investment Company released their financial results for the financial year ended 31st March 2021. The company posted its first loss in 42 years! The heat on the company was mainly attributed to the decline in the performance of Two Rivers Development Limited which was the top laggard in the company’s investments. Nevertheless, the company shrugged off the loss and recommended a dividend of Kes 0.33 per share.
East African Breweries Plc similarly released their full-year financials, falling below investor expectations, but posting above average results and nearing a turnaround of the company, posting a slim margin to Ksh.6.96 billion from Ksh.7.02 billion at the same stage last year. The company finally caved in and declined to issue a final dividend to shareholders, backed by the uncertainties being pushed by the coronavirus pandemic.
The benchmark All-share Index of the Nairobi Securities Exchange (NASI) ended the week on a decline, shedding 1.46 points or 0.82% week on week to close the week at 177.52 points. The NSE 20 share index and the NSE 25 share index were similarly on the drop, shedding 7.62 points or 0.38% and 5.41 points or 0.14% to close the week at 1,974.29 and 3,890.09 respectively.
What Cowries Are we collecting this week?
U.S Jobless Claims & Nonfarm Payrolls - Thursday and Friday, we will be looking at the economic data from the U.S with hopes of a lower value of the jobless claims. A higher jobless claims data could spell a temporary decline in the industrial sector and the larger DJI.
WPP Scangroup Plc - The largest marketing and communications company in Sub-Saharan Africa was set to release its financial results on Saturday. This was however not the case, our cowrie collectors will be here, checking on the company’s data and possibly the final release of the much-awaited financial results.
Safaricom Plc - Safaricom closed their books for dividend considerations and we will be watching on any reactions aka price discovery on the company’s share prices. Shareholders also approved the company’s expansion drive into Ethiopia, news which are likely to dampen the price discovery process.
How about you? What are your cowries for the week?
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