AnalytixInsight

Last week, the stock market performed better in the latter half, as S&P 500 and Nasdaq rebounded from key tests Thursday morning, and went on to top resistance on Friday. Dow Jones ened the week up 1.75%, S&P 500 was up 1.9%, and Nasdaq was up 2.6%, 10-year US Treasury yield rose to 3.96%, after falling by 11 basis points Friday. Chip designer Arm intends to list in New York. Instacart’s revenue and profit climbed ahead of a potential public listing. Twitter’s revenue, adjusted earnings fell about 40% in month of December. Tesla wants to grow car sales from 1.3 million in 2022 to 20 million. Fisker shares rocketed up 30% as the EV maker sees potential for profit and strikes a ‘game changer’ deal for charging stations. Salesforce shares jumped 15% despite a weak revenue forecast. Meta unveiled a new large language model that can run on a single GPU, the Company also plans four new AR/VR devices in next four years. Elon Musk’s bid to implant brain chip into humans was reportedly rejected by the feds over safety risks. U.S. House panel approved a bill giving Biden power to ban TikTok. Amazon is letting employees use their stock to finance home purchases and even second homes. Visa and Mastercard are reportedly pressing pause on new crypto partnerships in the wake of stunning industry collapses. In Canada, CGI announced its intent to repurchase 3.34 million of its shares held by CDPQ. Northleaf Capital Partners has held the final close of its latest private equity fund, pulling in US$675 million. Shopify built Indigo’s new website in three days following ransomware attack. Canada is removing TikTok from government-issued devices. Sophic Client UGE achieves notice to proceed milestone for rooftop community solar project in Queens, New York. Sophic Client LuckBox’s CEO, Thomas Rosander did a short interview on innovation in esports betting.

Last week, Dow Jones Industrial dropped 3% in its fourth straight weekly loss, S&P 500 lost 2.7%, and Nasdaq fell 3.3%. The US 10-year Treasury yield was up 12 basis points to 3.95%, its highest level since Nov. 10, and up 62 basis points from the recent stock market peak on Feb. 2. Venture capital firms raised US$20.6 billion for new funds in the fourth quarter, a 65% drop from the same period the year prior and the lowest fourth quarter capital raise since 2013, The Wall Street Journal reported. KKR-backed BMC plans IPO valuing it at up to US$15 billion. Shared micromobility giant Lime reports first profitable year, tests the waters for IPO. DOJ preps antitrust suit to block Adobe’s US$20 billion Figma deal. Nvidia shares rose nearly 9% despite precipitous declines in revenue and earnings per share compared to last year, as investors seemed relieved that the results weren’t worse. Block’s Cash app grows to 51 million users. Coinbase revenue falls 75% as trading slumps. Tesla rival Lucid’s stock slides 10% after it says it’ll make fewer electric cars than expected this year. After cutting 11,000 jobs last fall, Meta is reportedly set to execute what could be another major round of layoffs as it tries to trim expenses. Tencent is in talks with Meta to sell its Quest 2 virtual-reality headset in China. Microsoft limits Bing chat to five replies to stop the AI from getting real weird. Netflix cuts subscription prices in over 30 countries. In Canada, NowVertical announced the terms of its $5 million marketed public offering of units. Lighthouse Labs, TechNL each secure over $20 million in federal funding for tech upskilling programs. Vancouver-based Web3 company Dapper Labs is facing a lawsuit claiming that its NBA Top Shot Moments NFTs constitute unregistered securities. TELUS investigating leak of stolen source code, employee data.

Last week, major indices ended mixed as the Dow Jones fell 0.1%, S&P 500 was down 0.3% and Nasdaq rose 0.6%. After a record Super Bowl, FanDuel parent Flutter Entertainment said it is considering listing on a U.S. stock exchange. Warren Buffett’s Berkshire Hathaway buys even more AAPL stock, ditches most of its TSMC. Airbnb posts a record Q4 as travel recovers post-pandemic. Roblox shares soar 27% as gains in users and virtual currency purchases lift quarterly results. Robinhood sees pop in crypto trading in January. Cathie Wood’s Ark Invest snatches up US$9.2 million of Coinbase stock after the crypto exchange’s massive January rally. George Soros’ fund reveals it’s betting against Silvergate as the crypto-friendly bank is probed over its ties to FTX. Bakkt to shutter consumer-facing app, focus on B2B crypto services. Meta Platforms may do more layoffs. Twilio cuts 17% of its workforce just months after previous round of layoffs. Tesla recalls 363,000 cars over full self-driving software. Ford’s EVs are getting faster charging and more affordable batteries thanks to new chemistry. Apple delays AR/VR headset launch again, now expects to unveil the device at WWDC. TikTok’s parent takes on Meta in battle for virtual-reality market with its two year old Pico acquisition. In Canada, Descartes acquired GroundCloud for US$138 million, as despite recent market volatility, its stock price has remained consistent in its growth trajectory. BBTV secured a $21.6 million loan to pay off an overdraft facility. Sophic Capital client Jasper Commerce, closed a first tranche of convertible debenture unit financing of $636,500 (full offering size of $500,000 plus a partial exercise of the over-allotment option). The Company may close further tranches of the over-allotment up to $113,500.

Last week, the Dow Jones ended down 0.2%,S&P 500 fell 1.1%, and Nasdaq composite was 2.4%. At the same time, the 10-year Treasury yield was up 21 basis points to 3.74%. SoftBank Group reported a net loss of nearly US$6 billion for the three months through December, largely because of the Japanese company’s Vision Fund investments, which tumbled for a fourth straight quarter. Retail investors are piling into small-cap firms that employ artificial intelligence amid intensifying competition between tech titans. Alphabet slides 9% after a report the tech titan’s ad for its new Google AI chatbot Bard had inaccurate information. C3.ai extends its year-to-date rally to 176% after buzz around ChatGPT drives investor interest in artificial intelligence. Microsoft Activision acquisition provisionally blocked; might be forced to sell Call of Duty. Sumo Logic to be taken private by Francisco Partners in US$1.7 billion deal. Ford sells majority stake in Rivian after reporting US$7.3 billion write-down. Robinhood took a US$57 million hit after a glitch allowed its customers to short a surging meme stock. Amazon is adding a round-the-clock sports gambling channel to its ad-supported streaming service, FreeVee. Newly returned Disney CEO Bob Iger is cutting 7,000 jobs and reorganizing the company. In Canada, Edmonton-based Jobber, which provides operations management software for home service businesses, has secured US$100 million in Series D funding led by New York growth equity investor General Atlantic. A fight brews over Magnet Forensics’ proposed $1.8 billion acquisition by Thoma Bravo. Hut 8 Mining Corp will merge with rival US Bitcoin Corp. Converge increased its global revolving credit facility by $100 million to $600 million. Sophic Client Real Luck Group announces continued growth in 2023 as its registered player base now exceeds 250,000.