ONLINE FOREX BROKER
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!
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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