CNBC Daily Open: Treading water before the tech wave hits
Publishing timestamp: 2023-04-25 02:15:21
Summary
This earnings season is revealing which companies can withstand economic challenges and which ones are at risk. First Republic Bank's deposits fell more than expected, causing shares to drop. Trucking company JB Hunt's president warns of a "freight recession" and signs point to a contraction in the global economy. Cryptocurrency exchange Coinbase is suing the SEC, while ByteDance's new app Lemon8 is gaining popularity as a potential alternative to TikTok. Bed Bath and Beyond filed for Chapter 11 bankruptcy protection, while Samsung warns of low profits. LVMH breaks records with sales and revenue figures, and Coca-Cola beats estimates with rising net sales. Investors are waiting for earnings reports from big tech companies like Alphabet, Microsoft, Meta, and Amazon before making moves.
Sentiment: MIXED
Tickers: MC-FR, BBBY, FRC, COIN, CCH-GB,
Keywords: world markets, coca cola hbc ag, cryptocurrency, coinbase global inc, business news, economic events, lvmh moet hennessy louis vuitton se, technology, first republic bank, samsung electronics co ltd, bed bath & beyond inc, markets, united states, bytedance, earnings,
Source: https://www.cnbc.com/2023/04/25/stock-markets-treading-water-before-the-tech-wave-hits.html