- MicroStrategy (+17%): The crypto industry’s hopes for the approval of a Bitcoin ETF by US regulators boosted crypto-currency prices this week, and took BTC to an annual high. A boon for MicroStrategy, the US analytics software specialist, which holds nearly 160,000 digital tokens. The company’s share price has rebounded by 192% since January.
- Endeavour group (+25%): Shares of talent and media company Endeavor Group surged after private equity firm Silver Lake says it is working on a proposal to buy the company. This comes after Endeavor’s announcement a of study to explore strategic alternatives.
- Deckers (+14%): The outdoor clothing specialist posted very good quarterly earnings, which both analysts and investors cheered. The company’s great sales performance was driven by demand for its Hoka and Ugg brands.
Losers:
- Align Technology (-29%): The US manufacturer of orthodontic appliances reported lower-than-expected quarterly results and lowered its annual sales forecast. The group faced weak demand for its flagship product: transparent dental aligners, and now expects revenues of between $3.83 and $3.85 billion for 2023, compared with $3.97 to $3.99 billion previously. Align is also weighed down by the dollar’s strengthening against major currencies and buyers’ reluctance to buy capital goods.
- NatWest (-15%) : The weak economic environment and rising interest rates are affecting the British banking group. While net interest income and net interest margin were below market expectations for the quarter, the lender lowered its annual interest margin forecast. NatWest, which was the subject of an investigation into the closure of Nigel Farage’s accounts for political reasons, deemed legal, nevertheless acknowledged serious shortcomings in the management of this affair.
- Alphabet (-10%): Alphabet disappoints. Although Google’s parent company reported better-than-expected quarterly results, with 11% growth in sales, investors were punished by the relative weakness of cloud business (+22.5%), which missed the consensus. Against a backdrop of economic uncertainty and high interest rates, the giant’s customers scaled back their spending. The market also seems to be punishing the Group’s lack of AI-related announcements.