【Morning Report】Alphabet, 15% increase in revenue for July-September period. Google's cloud division performing well. AMD sees revenue and profit growth, but stock price drops after hours.

moomooニュース米国株 wrote a column · Oct 29, 2024 18:11

【Morning Report】Alphabet, 15% increase in revenue for July-September period. Google's cloud division performing well. AMD sees revenue and profit growth, but st...

moomoo users, good morning!Here is the key point for this morning.
Tokyo stock market forecast range: ¥880,000-¥930,000 (closing price on the 29th was ¥890,368).
Alphabet's revenue increased by 15% in the July-September period, Google's cloud division performing well.
AMD to report increased revenue and operating profit in the 3rd quarter, stock price falling after hours.
Mr. Musk's xAI in negotiations for fundraising, valuation at about $40 billion, according to sources.
The US job openings and labor turnover survey (JOLTS) in September hit a 3.5-year low, indicating a cooling labor demand with increased layoffs.
US consumer confidence, reaching a 9-month high in October, according to the National Association of Manufacturers.
Visa reports double-digit revenue and profit growth in the July-September period, fueled by increased transaction volumes.
Reddit achieves a third-quarter revenue increase and turns profitable, with a 68% rise in revenue to 0.348 billion dollars, leading to a sharp increase in stock price after-hours.
The weakening of the yen due to 'domestic politics' and the 'US presidential election'! Uncertainty surrounds the Bank of Japan's meeting, what is the possibility of a rate hike in December? [Bank of Japan Meeting Preview]
ADR Japanese stocks ranking - General buying trend in Japanese stocks like Japan Post, with Osaka trading 200 yen higher than Chicago at 39,170 yen.
- MooMoo News Kei

Market Overview

On the 29th, the U.S. stock market showed mixed results. While the Dow Jones Industrial Average fell, the S&P 500 Index continued to rise. The Nasdaq Composite Index has risen for 4 consecutive business days, setting a new record on a closing basis. The rise in large-cap technology stocks pushed the Nasdaq higher. In the S&P 500 sectoral index, energy declined.
The Tokyo stock market on the 30th is expected to have a buying trend, with a high chance of the Nikkei Stock Average recovering to the 39,000 yen level.

Top News
Alphabet's revenue for the July-September quarter increased by 15%, with Google's cloud division performing well.
Google's parent company $Alphabet-A (GOOGL.US)$The financial report for the July-September quarter (Q3) released on the 29th showed a 15% year-on-year increase in revenue to $88.3 billion. The revenue growth rate accelerated from the 14% increase in the April-June quarter. The cloud computing business performed well, supporting performance amid substantial investments in artificial intelligence (AI). Stock prices rose after hours.

AMD reported increased revenue and operating profit in the 3rd quarter, but stock prices fell after hours.
$Advanced Micro Devices (AMD.US)$The performance of 【company】 for the 3rd quarter of the fiscal year 2024 (June 30 to September 28) showed increased revenue and operating profit.
According to the 8-K report released after the end of regular trading on October 29th, the third quarter saw revenue increase by 17.6% year-on-year to $6.819 billion. Operating profit significantly increased by 3.2 times to $0.724 billion, with operating margin improving to 10.6%.
Related Article:Corning, the U.S., incurred a deficit in the July-September quarter, while AI-related products performed well.

Mask's xAI is in negotiations for fundraising, with an estimated value of $40 billion according to sources.
Elon Musk's artificial intelligence (AI) startup, xAI, is in negotiations with investors for a new round of fundraising. The company's value in this round could be evaluated at $40 billion (approximately ¥6.140 trillion), as indicated by multiple knowledgeable sources.

In September, US JOLT job openings hit a three-and-a-half year low, suggesting a cooling labor demand with an increase in layoffs.
The September JOLT job openings reported by the U.S. Department of Labor fell below the expected 8 million to 7.443 million, reaching the lowest level since January 2021. The August figures were also revised downward from 8.04 million to 7.861 million. Further slowdown in the labor market could justify the Federal Reserve's rate cut by weakening wage and inflation pressures.

U.S. consumer confidence in October reached the highest level in nine months, according to the National Association of Business Economists.
According to the Conference Board, the Consumer Confidence Index for October, released on the 29th, rose significantly from the revised September figure of 99.2 to 108.7, reaching its highest level since January.

Visa reported double-digit growth in revenue and profit for the July-September quarter, with an increase in transaction volume.
The leading payment network in the US. $Visa (V.US)$The financial results for the 7-9 month period (4th quarter) announced on the 29th showed double-digit growth in revenue and profit. Transaction volume, cross-border transactions, and transaction processing volume all steadily increased.

Reddit achieved a third-quarter turnaround with increased revenue and profitability, with a 68% increase in revenue amounting to 0.348 billion dollars. The stock price surged in after-hours trading.
$Reddit (RDDT.US)$The performance for the third quarter of the fiscal year 2024 (July-September) showed increased revenue and a turnaround to operating profit. According to the 8-K (Form 8-K) filed after the end of regular trading on October 29th, revenue for the third quarter increased by 67.9% year-on-year to 0.3 billion 48.35 million dollars. Operating profit turned into a profit of 6.85 million dollars.

"Domestic political situation" and "US presidential election" are leading to a weakening yen! What is the possibility of a December rate hike at the uncertain Bank of Japan meeting? [BOJ Meeting Preview]
As the Bank of Japan prepares for its monetary policy decision-making meeting on the 30th and 31st, new uncertainties have arisen. Following the lower-than-expected results for the ruling coalition in the October 27th lower house election, which led to political uncertainty and further weakening of the yen, the focus of the October meeting is whether there will be any signal regarding a possible third interest rate hike of the year at the December meeting.

ADR Japanese stock ranking ~ General buying dominance such as Japan Post, Chicago at 39,170 yen, 200 yen higher than Osaka.