DGAP-News: Cboe Global Markets, Inc.
After four weeks of bullish action, it appears the market may be reaching the height of its rally.
Experts from BlackRock Inc. (NYSE: BLK) and JPMorgan Chase & Co. (NYSE: JPM) have been warning the public that the rally experienced in the last month is bound to be met with resistance soon, a premonition they attributed to worsening global economic conditions.
SPDR S&P 500 ETF Trust (NYSEARCA: SPY) has, perhaps, begun validating these beliefs, declining 1.16% last week and starting off Monday by gapping down more than 1%. Cboe Global Markets Inc. (BATS: CBOE) reports that European exchange-traded funds (ETFs) like the iShares Core MSCI Europe ETF (NYSEARCA: IEUR), iShares Core DAX UCITS ETF (BIT: EXS1) and Lyxor CAC 40 ETF (EPA: CAC) have all experienced price drops last week, too.
Cryptocurrency leaders Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) have mirrored the equities market, each declining more than 10% last week. Exemplifying the market’s downturn is Zoom Video Communications Inc. (NASDAQ: ZM), this week’s chart of the week following a disappointing earnings report.
Finally, Cboe notes upcoming earnings that may lift investors’ eyebrows in the week to follow.
Quick BitesExchange-Traded Funds
Chart Of The Week: ZM
Shares of telecommunications company Zoom Video Communications tumbled following an earnings report that surprised Wall Street analysts.
On Aug. 22, the company reported an earnings per share (EPS) profit of $1.05, a figure 10% greater than consensus estimates. The positive EPS figure, however, was eclipsed by the company’s revenue miss, which saw it record $1.099 billion instead of the $1.116 billion estimate.
The small deviation — amounting to 1.45% — was enough to drive the company’s stock from $97.44 a share to $84.56 on the next day’s open, a 13% decline overnight.
Since its height in October 2020, the company’s stock has fallen a whopping 86%.
Upcoming Earnings Releases
A number of high-end companies report earnings in the following week, including:
Click here for more weekly insights by Cboe.
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31.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Cboe Global Markets, Inc.
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