
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
2022-11-23 • Updated
This week, the stock of AstraZeneca was one of the most traded instruments in FBS Trader! It was even more popular than the stock of Tesla. There has been news that grabbed the attention of traders this week. It’s also worth mentioning the earnings of a company coming out this Friday. What should you know ahead of it?
EPS = 0.62 (vs. 0.47 in Q3 2020)
Revenue = 9520 (vs. 6578 in Q3 2020)
The release of financial results is expected on November 12, at 13:45 GMT+2.
The destiny of the Anglo-Swedish drug giant has been complicated since the start of the Covid-19 pandemic. You may have heard of the news about the vaccine that causes blood clots. As the cases were linked to AstraZeneca’s vaccine, several countries restricted its use. Luckily for AstraZeneca, the European Medicines Agency (EMA) and the World Health Organization (WHO) both confirmed that the vaccine was safe and effective. The organizations said that the number of blood clots was extremely rare. Another challenging factor for the company this year was linked to the production problems. AstraZeneca cut its vaccine deliveries to the EU by half, reportedly due to problems at its plants and delayed testing of a batch of vaccines.
However, the company managed to stabilize its performance in 2021. Last week, it announced the creation of a new division for vaccines and antibody therapies. Vaccines are seen as not a traditional area for the company, so optimization of its structure certainly helps with business processes. Another positive news is the approval of the drug maker’s antibody cocktail against Covid-19 in Australia. Now, the mixture is awaiting a review by the European Medicines Agency.
The first half of the year was the golden time for the company. The Covid vaccine resulted in an outstanding improvement of AstraZeneca’s financial results making 9% out of +18% of the total revenue growth in the first half of the year.
Apart from the vaccine, AstraZeneca has been working on cancer drugs – Lynparza, Tagrisso, Imfinzi, and diabetes medicine. Their sales have been rapidly growing as well. Higher demand for Tagrisso in the United States amid the broad-based adjuvant therapy for treating lung cancer patients may improve the company’s financial results as well. Other medical treatments are also likely to have contributed to sales growth in the third quarter.
The stock of AstraZeneca has been moving within an uptrend. The breakout of the 9500 level will be crucial, as it will lead to the rise to July's all-time high of 10 088. If stock's price breaks below the support of 9240, it will indicate a bearish scenario with the next potential target of 9000.
Summing up, AstraZeneca has a great potential to post good financial results for the third quarter. Its business structure is accelerating and new facilities are developing. Also, it produces necessary drugs for the treatment of Covid-19 and other severe diseases. The demand for this medicine has been growing last quarter and it may attribute to the strong financial report on Friday. Follow the release on Friday at 13:45 GMT+2!
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
The Q4 earnings season has been interesting, mainly because of the turbulent global economic outlook. On this premise, analysts forecast a disappointing performance for several stocks ahead of the Q4 earnings report publishing.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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