(AOF) – The American markets are moving in a dispersed order, but they are weakened by the fall in oil prices. Already poorly oriented, they increased their losses following the unexpected decline in the purchasing managers’ index for the manufacturing sector, from the Institute of Supply Management. In the wake of the decline in black gold, the yield on the American 10-year bond lost 9 basis points to 4.41%. Around 5:30 p.m., the Dow Jones lost 0.58% to 38,462.93 points while the Nasdaq Composite gained 0.37% to 16,800.33 points. The latter benefits from the support of Nvidia.
Autodesk shares jumped 7.02% to $215.16 thanks to a series of favorable announcements, including the end of its audit of its practices regarding its adjusted operating margin and its free cash flow. The management of the company has determined that there will be no restatement or adjustment of the certified or uncertified financial statements, filed or previously published, whether or not in accordance with generally accepted accounting principles. Elizabeth Rafael has been appointed by the Board of Directors as Interim Chief Financial Officer, effective May 31, 2024.
Today’s economic figures
The Institute of Supply Management’s Purchasing Managers’ Index for manufacturing came in at 48.7 in May, below the consensus reading of 49.8. It is also below its April level of 49.2.
In the United States, the manufacturing purchasing managers’ index (PMI) stood at 51.3 in May against a consensus of 50.9, S&P Global said. It stood at 50 in April. “It is pleasing to see that new orders returned to growth in May, following a hiatus in April. Although modest, the growth in new orders bodes well for production in the months ahead,” commented Andrew Harker , economist at S&P Global.
Construction spending fell by 0.1% in April when it was expected to increase by 0.2% after falling by 0.2% in March.
Values to follow today
Autodesk
Autodesk, publisher of computer-aided design software, soared nearly 8% in pre-market trading after reporting preliminary revenue above expectations for the first quarter, coming in at around $1.42 billion. dollars. For the full year, the Californian firm expects revenues ranging from $5.99 to $6.09 billion, an increase of 9 to 11%, for adjusted earnings per share ranging from 7.99 to 8.21. dollars and free cash flow, between 1.43 and 1.50 billion dollars
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Edwards Life Sciences
Edwards Lifesciences is expected to rise in the pre-market on Wall Street after the group announced today that it had reached a definitive agreement for the sale of its Critical Care subsidiary to BD (Becton, Dickinson and Company) in the part of an all-cash transaction valued at $4.2 billion. With this agreement, Edwards renounces the previously announced split of this unit. The medical device manufacturer will use the proceeds from this transaction to finance strategic growth investments.
Gamestop
GameStop stock is expected to rise by more than 70% as Keith Gill, known under the pseudonym Roaring Kitty, revealed in a post on Reddit an exposure of 116 million to the American video game distributor. This bet breaks down into 5 million GameStop shares at an average purchase price of $21.274 and 120,000 options with a strike price of $20 and expiring on June 21, 2024. Keith Gill had become famous in 2021 after posted a series of online videos in support of Gamestop, causing the stock to spike.
Hertz
Hertz is expected to rise in pre-market trading on Wall Street after announcing today the appointment of Scott M. Haralson as chief financial officer: he will join the company by the end of June, replacing Alexandra Brooks, who is leaving the company. company to pursue other opportunities. The car rental company specifies that Scott Haralson has been CFO of Spirit Airlines since 2018, a company he helped “get through the pandemic and strengthen its financial position”.
Microsoft
The American giant Microsoft Microsoft has announced that it will invest 33.7 billion Swedish crowns (2.95 billion euros) over two years in Sweden with a view to developing its infrastructures in the cloud and artificial intelligence . This is undoubtedly the largest investment in the Scandinavian country ever made by the IT multinational. In Sweden, Microsoft will supply 20,000 advanced graphics processors, crucial for training AI models.
Nvidia
Chip specialist for artificial intelligence applications Nvidia will pick up the pace. During a speech at the Computex show in Taiwan, its founder and general manager, Jensen Huang, indicated that the launch of new families of chips would now take place at the rate of one every year compared to every 2 years previously. He specified that the Rubin platform, which will succeed the Blackwell platform, will be launched in 2026.
XPeng
XPeng is expected to rise in pre-market trading on Wall Street after announcing its vehicle delivery results for May 2024. The smart electric vehicle maker says it delivered 10,146 vehicles in May, an increase of 35% year-on-year and 8% over one month. Year-to-date, Xpeng has delivered 41,360 vehicles, representing a 26% year-over-year increase. The XPeng X9 has continuously maintained its position as the sales leader in the all-electric MPV segment in China.
