Weakened Tech Stocks

A big read follows because we had a lot of news on companies we own today.

While I don't own Facebook (FB) it produced a huge crash today under its meta label.

There also was a 0.5% rise in UK interest rates, twice what had been anticipated and moreover early, because of inflation risks. This took down lots of stock not only in Britain but also in Israel and European countries.

My best performer was Thermo Electron TMO, which being a US firm avoided much currency kickback. Having bought Sprint its earnings were down 60 cents but beat the forecast 13 cents by rising 34%. It also got a flurry of upgraded to its target price, with Cowen highest at $735 and Jeffries lowest at $645. 

Drugs

*Enlivex got the booby prize after it fell 7.15% today. ENLV.

*TEVA in Israel fell 2.52% over interest rate concerns. It is a frequent Thursday loser because Tel Aviv is shut until Sunday.

*Eisai, ESALY, of Japan reported sales up 134% in its Q3 and eps of Y565 per share or Y .3 bn. 

*Its UK partner Renishaw reported eps of 942 pence on revenue up 27% to GBP 325.2 mn but it fell 9.5 % all the same over currency factors. RNSHF.

*Dr. Reddy's of India is buying a German private firm Conimbus which peddles Cannabis and RDY stock fell 0.77%.

*Eli Lilly eps was $2.49 which beat by 3 cents.LLY.

Tech & Tel

*Nokia eps dropped 2.1% and its sales at euros 6.41 bn missed by 70 mn. NOK.

*Qualcomm earned $2.49/sh vs a consensus forecast of $2.46. QCOM.

*Satya Nadella wants to invest in the metaverse via Activision.

*Vodafone and UBS, a Swiss bank, are joining to fight off Cevian Capital trying to gain VOD stock.

*AT&T T was removed from the S&P High Yield list and so was IBM spin-off Kyndzyil.

*BAE Systems hit a target for the F 35 Lockheed fighter plane for which is supplies vehicle management computers. BAESY is British.

*Twitter Pinterest beat its consensus forecast of $5.89 by 8 cents.

Mining and drilling

*Ecopetrol fell 2.52%. EC.

*Chilean Antofagasta ANFGF rose another 2.04%. It mines copper there but the stock is listed in the UK for historic reasons.

Banks

*Vodafone and UBS, a Swiss bank, are joining to fight off Cevian Capital trying to gain VOD stock. This is 

*Bank of Nova Scotia BNS was dissed by the Wolf report which says it's too expensive. Its pe ratio is 11.25 and its yield 4.26%. That's cheap.

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