Robinhood offers disappointments and drama

Robinhood offers disappointments and drama

On Wednesday, Deutsche Bank reported surprisingly strong third-quarter earnings numbers, despite the fact that the brokerage business generated lower profit than a year earlier. The financial giant has now left behind five consecutive quarters with earnings. Investors were not impressed, however, and the share price at 4:00 was down 6 percent.

Heineken did better, with the share price virtually unchanged. The Dutch brewing group sold 5.1 percent less beer a year ago, disappointing analysts. The main reason was the coronavirus-related decline of 37 percent in Asia. However, management maintained its full-year forecast, which means business volume has yet to recover to the 2019 level.

In the US, Google-owner Alphabet and Microsoft both released surprisingly strong top and bottom earnings numbers after closing trading on the New York Stock Exchange on Tuesday. At 4 a.m. Wednesday, the two were up 3 and 4 percent, respectively.

General Motors also fared better than expected, and in addition, the car manufacturer revised its forecast for 2021. However, the stock price fell 3 percent. The positive surprises are partly due to the fact that General Motors raised its prices to offset higher production costs. In addition, the group’s financial operations have raised $1.1 billion. Management also stated that the shortage of semiconductors will remain a challenge throughout the year and into the second half of 2022.

US aircraft maker Boeing also provided figures. Here, cash flow was better than expected, while the deficit exceeded analyst estimates. The stock price fell by 1 percent.

Robinhood’s stock provided more drama. The stock price fell 10 percent, as a result of unexpectedly weak income in the third quarter. Trading in cryptocurrencies has been particularly disappointing. As is known, the American broker offers “free” trading in both digital currency and securities. It is especially popular among young speculators.

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Hanisi Anenih

Hanisi Anenih

"Web specialist. Lifelong zombie maven. Coffee ninja. Hipster-friendly analyst."

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