Top Sector Gainers
|Food: Major Diversified||+1.5%||N/A|
Walmart (WMT US)
|Food Retail||+1.2%||Kroger (KR) Gains As Market Dips: What You Should Know|
Kroger (KR US)
|Home Improvement Chains||+1.1%||Home Depot, Lowe’s rebound from steep-selloff|
Home Depot (HD US)
Top Sector Losers
|Oil & Gas production||-10.3%||Oil prices close 6% lower to start the week as Saudis lower prices, China exports slump|
Conoco Phillips (COP US)
|Motor Vehicles||-7.5%||Rivian shares down more than 17% following report of Ford sell-off|
Rivian (RIVN US)
|Internet Retail||-6.2%||Nasdaq ends with 4.3% loss as US stock market plunge continues|
Amazon (AMZN US)
- BioNTech (BNTX US) shares rose 3% after posting a better-than-expected first-quarter report. BioNTech earned $14.24 per share on revenue of $6.37 billion. Analysts polled by Refinitiv expected a profit of $9.16 per share on revenue of $4.34 billion.
- Tyson Foods (TSN US) shares gained 2.2% on the back of better-than-expected quarterly results. Tyson reported earnings of $2.29 per share on revenue of $13.12 billion. Analysts had expected a profit of $1.91 per share on revenue of $12.85 billion, according to Refinitiv.
- Palantir (PLTR US) shares dropped 21.3% after its first-quarter earnings came in below expectations. The company reported 2 cents of adjusted earnings per share on $446 million of revenue. Analysts surveyed by Refinitiv expected 4 cents of earnings per share on $443 million of revenue. Palantir’s second-quarter guidance for revenue and adjusted operating margin was also below expectations, according to StreetAccount.
- Rivian (RIVN US) shares fell 20.9% following a CNBC report that Ford Motor will sell 8 million shares as the insider lockup for the stock is set to expire. Ford currently owns 102 million shares of Rivian. Ford shares fell 4%.
- Uber (UBER US) shares dropped 11.6% after CEO Dara Khosrowshahi revealed plans to slash marketing and incentives spending and treat hiring as a “privilege,” according to an email to employees obtained by CNBC. “It’s clear that the market is experiencing a seismic shift and we need to react accordingly,” he said.
- Dyna-Mac Holdings Ltd (DMHL SP) shares extended their rally and rose 3.2% yesterday. On Wednesday (May 4), the company said it obtained a firm contract with a provisional sum of S$180 million from a long-time repeat customer. The new order win brings the company’s net order book to-date to a record high of S$641.1 million, with deliveries stretching into 2024, the company said in a bourse filing.
- Civmec Ltd (CVL SP) shares rose 2.3% yesterday. In a report on Friday (May 6), analyst Eric Ong initiated coverage on Civmec with a “buy” call and target price of S$1, noting that the counter trades at an “undemanding” 10 times the brokerage’s estimates for FY2023 earnings, which represents a 15% discount to Civmec’s peers listed in Australia. The counter is also attractive given its positive earnings profile and the enhanced clarity of its naval shipbuilding segment, the analyst added.
- Jiutian Chemical Group Ltd (JIUC SP) shares rose 2.0% yesterday. CGS-CIMB raised its target price on Jiutian Chemical Group to S$0.17 from S$0.09, after hiking its earnings per share (EPS) estimates for the chemical company by 7.4% to 41.9% for FY2022 to FY2024. The research team maintained an “add” rating on the Catalist-listed company, noting that it has a strong net cash position and that the industry cycle remains favourable, CGS-CIMB said in an analyst report on Thursday (May 5).
- RH Petrogas Ltd (RHP SP) and Rex International Holding Ltd (REXI SP) shares lost 3.4% and 2.9% respectively yesterday. Oil prices slipped on Monday, along with stock markets in Asia, sparked by weak China data and fears a global recession could dampen oil demand, with investors eying European Union talks on a Russian oil embargo that could tighten global supplies. Saudi Arabia, the world’s top oil exporter, lowered crude prices for Asia and Europe for June on Sunday.
Top Sector Gainers
|Public Transport||+1.30%||Hong Kong Speeds Reopening at Bars, Beaches as Covid Eases|
Kwoon Chung Bus Holdings Ltd (306 HK)
|Nonferrous Metal||+1.20%||Russia’s lost alumina supply from Ukraine is now coming from China|
Aluminum Corporation of China Limited (2600 HK)
Top Sector Losers
China Southern Airlines Co Ltd (1055 HK)
China Youran Dairy Group Ltd (9858 HK)
Automobiles & Components
NIO Inc. (9866 HK)
- Aluminum Corporation of China Limited (2600 HK) Shares fell 8.88% near a 52-week low last Friday after the company was added to the US SEC list for possible delisting. Previously, BlackRock reduced holdings by 16.16mn shares at the average price of HK$3.57.
- Sihuan Pharmaceutical Holdings Group Ltd (460 HK) Shares fell 9.48% and closed near a 52-week low last Friday. There was no company-specific news. The biotechnology sector plunged following the overnight US market plummet.
- Country Garden Services Holdings Co Ltd (6098 HK) Shares fell 9.94% last Friday. There was no company-specific news. The property management sector continued to weaken. China’s authority reiterated its zero-covid policy amid rising covid cases in multiple cities. The expectation of a turnaround in the real estate sector faded again.
- China Resources Beer Holdings Co Ltd (291 HK) Shares fell 10.31% and closed near a 52-week low last Friday. The brewery sector plunged due to the reiteration of the zero-covid policy. China’s authority vowed to insist on the most draconian measures to fight covid.
- NIO Inc (9866 HK) Shares fell 11.47% last Friday. The company announced that it was planning a secondary share listing in Singapore. Previously, the company was included in the US SEC list of possible delisting.
Trading Dashboard Update: Cut loss on OxPay Financial Ltd (OPFL SP) at S$0.18; Add Keppel Corp (KEP SP) at S$6.75, Samudera Shipping (SAMU SP) at S$0.97.