Lyft expects 3,3 billion dollars revenue for 2019

The public listed company Lyft (LYFT) reveiled its results for the first quarter. According to the company,it made a 1,14 billion dollar loss for the period with the revenue of 776 million dollars. The company also estimated that the total year revenue would be 3,3 billion dollars.

Lyft also said that the net loss includes a 894 million dollars of stock-based compensation and payroll tax expenses in connection with the company IPO offering in March. The company raised 2 billion dollars in the listing process.

The company is having 30 million riders and 2 million drivers.The company stock was trading down 4,3% to 56,89 dollars on Wednesday.

The rival company Uber (UBER) is to have its IPO in the New York Stock Exchange on Friday.

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Tesla Q1 release on Wednesday next week  – new governance guide

The US electric car manufacturer Tesla (TSLA) has announced that the company Q1 information will be released on Wednesday, the 24th April. Also the Investor Day related to Autonomous driving would be next week Monday the 22nd April.

Tesla published a couple of weeks ago its last year production figures. According to that, Tesla produced approximately 77 100 total vechiles, of which were 62 950 Model 3. Deliveries were approximately 63000 vehicles, which was 110 % more than the same quarter last year. Also Tesla confirmed that the guidance for this year would be 360000-400000 vehicles deliveries.

Yesterday the company also announced changes to its board. According to information Brad Buss and Linda Johnson Rice wil not seek re-election, which means that the Board size will decrease to nine. The company has also published new governing rule which cuts the term to two years instead of three. This means that there would be also changes in the Board during 2020. The annual shareholder meeting will be on June, the 11th. The new governing rule will help shareholders vote on the Board performance more frequentely.

Tesla share rose 0,75 % to 273,26 dollars in New York before the Easter holidays. During one year period the share has declined 5,85 %. During 2019 the share has plunged 18 %.

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Qualcomm shares continued up 12% in Nasdaq today 

The share price of the US wireless company Qualcomm (QCOM) continued in the Nasdaq Stock Exchange in New York today. The stock ended up 12,25 % to 79,08 dollars in the aftermatch of the yesterdays news of the global royalty settlement with Apple (AAPL). Yesterday evening the stock climbed over 23 % after the news release.

Apple-shares also rose and ended up 1,95% to 203,13 dollars. The settlement means that the companies have agreed the shipments for the next six years and also Apple made an onetime payment related to the royalties. In the future Apple will have Qualcomm chips in its iPhones while the current supplier Intel (INTC) has had delivery problems.

Intel also announced yesterday that it will exit the 5G modem markets and focus on other parts of 5G ecosystem. Intel shares ended up 3,26% to 58,56 dollars. According to markets the company sift is seen as positive action towards more profitable business sectors.

The overall market sentiment was down in spite of the positive outlook for the semiconductor and mobile industry. Dow Jones ended down 0,01 % to 26 449 points, the S&P 500 index ended down 0,23 % to 2900 points and Nasdaq ended down 0,05 % to 7996 points.

Euro was trading unhanged at 1,1296 dollars, as well as the UK sterling, unchanged at 1,30 dollars.

During the day the economic indicators showed that China GDP grew 6,4 % annual rate during the first quarter this year. The growth exceeded the estimates. On the other hand, the US trade deficit dropped in February due to the 20,2 % decline in the imports from China.

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Euronext increasing its offer for Oslo Bors?

The European Euronext is considering increasing its offer for Oslo Bors. According to Bloomberg News, the updated offer could be published during this week and one option is still, that no increase is made.

The parties have declined to comment the matter, but the Nasdaq Stock Exchnage made an offer in January to buy the Oslo Bors for 152 kroner per share, while the earlier offer by Euronext was 145 kroner per share.

Oslo Bors is one of the last independent stock exchanges in Europe with the average daily trading of 5,4 billion kroner. The number of trades increase over 25 % last year and the energy sector was the biggest industry sector in Olso. Oil companies represent about 35 % of the combined market capitalisation.

 

 

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The Nasdaq Nordic and Baltic Stock Exchanges to implement ESG reporting

canstockphoto4076117The Nordic and Baltic Nasdaq Stock Exchanges have decided to join the global initiative for Sustainable Stock Exchange Reporting on ESG issues. This means that Stockholm, Helsinki, Copenhagen, Reykjavik, Tallinn, Riga and Vilnius have committed to produce a guidance on environmental, social and governance (ESG) disclosure for listed companies by the end of this year.

Nasdaq Nordic and Baltic exchanges joined the United Nations Sustainable Stock Exchanges (SSE) initiative in November 2015. This effort will also reinforce Nasdaq’s mission to provide fair, transparent, and efficient markets for investors. The forthcoming guidance will be aligned with the recommendations issued in 2015 by both the UN Sustainable Stock Exchanges’ initiative and the World Federation of Exchanges’ Sustainability Working Group.

For example the World Federation of Exchanges´Sustainability Working Group have several key ESG Metrics in their recommendations. Those include for example:

  • Direct/indirect GHG (greenhousegas) emissions
  • Water management
  • Waste management
  • CEO pay ratio
  • Gender pay ratio
  • Human rights policy
  • Board voting
  • Code of Conduct

This decision means that Nasdaq will work for the guidance with their stakeholders during this year and publish the guideline by the end of year. It will have some implications also to the IPO listings although the market reporting requirements differ for example in the First North and the main list.

The aim of this global Stock Exchange Initiative is to encourage responsible investment, enhance corporate transparency and ultimately performance on ESG (environmental, social and corporate governance) issues. The SSE is convened by the UN Conference on Trade and Development (UNCTAD), the UN Global Compact, the UN Environment Program Finance Initiative (UNEP FI), and the Principles for Responsible Investment (PRI).  (www.SSEinitiative.org).

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Tesla to provide green energy for homes/offices & utilities

Tesla Motors (TSLA US) is entering new markets beyond electric cars. The CEO  Elon Musk announced on Wednesday that the company is starting delivering  so called Powerwalls, which enable homes to store for example solar energy to be used during the peak hours. Tesla says that this is a new innovation with easy to use and install and the battery itself is well designed and offer different colors. The deliveries of this lithium-ion batteries will start late summer this year and the walls are 7 kWh or 10 kWh priced 3500 dollars.

According to Musk the goal is to fundamentally change the way the world uses energy. “We are talking at the terawatt scale. The goal is complete transformation of the entire energy infrastructure of the world” , he said in the launching event.

Tesla is also making so called PowerPack solutions for corporations and utilities. So far the power industry has lacked a cost-effective solution for energy storage and this issue is growing all the time, while there is growing amount of solar and wind energy to be integrated into the grid. Tesla is building its own gigawatfactory and has also several co-operations agreements with local utilities and industries.

Tesla share closed to 226,03 dollars in Nasdaq New York.

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