Day: May 19, 2021

19 May, 2021 Additional full integrity products have been released from the PGS Flex Vision data rejuvenation program in the Gulf of Mexico. The application of new imaging technology to the prolific Flex Trend has revealed nearfield opportunities that boost potential far beyond original estimates. New data unlocks opportunities adjacent to existing discoveries, to enable infrastructure-led exploration in an area of the Gulf of Mexico that has been producing oil and gas for over two decades. Salt, the biggest challenge for exploration on the Flex Trend, is resolved with high-quality depth imaging and improved velocity control.Flex Vision ProgramThe final data from the Flex Vision program demonstrates striking improvements in image quality, resolution, bandwidth, and geologic accuracy. The data rejuvenation process started from field tapes...

If we are to review the gains made by Alphabet last month, we can see that the stock gained 14% on April alone. This is partially due to the stock being bullish about economic reopening as well as the increase in broad market. It was even pushed further after the Q1 earnings report was released, reflecting how well the company and its stock is doing. Alphabet technically jumped from the start of April until its very last day. The bullishness it displayed is due to several factors; President Joe Biden’s $2.3 trillion infrastructure bill, the successful and further accelerating rollout of COVID-19 vaccines, and the better than expected March jobs report. Now all of these reflects the improvement of the economy, and Alphabet’s performance as an advertising business is directly related to the status of the economy. Thus with the...

With the tech stock value dropping, Cathie Wood’s ETF line up had just dropped down from $60 billion at its peak in February of this year, to $39.7 billion. Despite this, her loyal fans continue to hold on for the ride. The firm was previously placed 7th as the largest issuer in the U.S. but now dropped down to 11th place. This drop is largely contributed by the drop in value of her holdings, such as the tech stocks that previously had soaring high valuations and bullish runs that suddenly came to a stop and came back down. ARK Innovation ETF (ARKK), her flagship, has dropped 35% from previous high. And while others anticipated stock pull out en masse once the stock underperformed, clearly the fans hang on to Wood’s ideals. The pull out recorded only $76 million in April and $301 million in May, compared to the chip in of $7.1...

Tesla’s stock had fallen after Elon Musk, Founder and CEO, announced that the usage of Bitcoin (Crypto Currency) to purchase Tesla cars is suspended. The announcement has gained negative responses from traders of both the regular stock market and the cryptocurrency. Now, Tesla started the trading session below the red line after Reuters announced that the company froze the progress of expansion related to its Shanghai plant. According to the report, the decision was made in relation to the standing between U.S. and China. Though the current president, Joe Biden, is not as temperamental and harsh as former president Donald Trump, the status of the relationship between the two countries haven’t made any progress. Other electric car stocks such as Li Auto and NIO have dropped for today’s start of session, but managed to...

This led to the concerns about COVID-19 rebounding to amplify further emphasizing the brutal drop of all the benchmark equities. This is now the third day on their losing streak, with NASDAQ Composite Index, S&P Index, and the Dow Jones Industrial Average crashing down at least a 2% today. It is said that tech stocks had not experienced a worse day performance since March 18, which is also true for the Dow since January. Let’s take a look at the major moves today: Stocks and Treasuries: – The Dow Jones Industrial Average dropped by 681.76 points or 1.99% and closed at 33,587.68.– NASDAQ Composite Index wrapped at 13,031.68 after losing 357.75 points or 1.99%.– The S&P 500 Index crashed at 4,062.98, decreasing by 89.12 points 391165%.– Japan’s Nikkei 225 went low by 1.80% or 517.80 points and...

Investors are steering clear from growth stocks as these are the first to be impacted the moment inflation hits the economy, which is expected by the experts during the recovery of the economic from the pandemic. The traders are rotating away from high growth stocks and are focusing on value stocks. With most of the companies’ 1st quarter earning report out, it is interpreted that the strong quarterly earnings season is almost finished, the new focal point of the market movement is now focused with the suspected inflation. This week, traders are expecting to get a peek at the latest monthly consumer price index along with the producer price index, which they expect to see a major jump in price change compared to pandemic price records. The Dow Jones Industrial Average continued to experience losses intraday, and sped up the fall...

The said pressure comes from the risks of increased prices or inflation during recovery from pandemic dragging high-growth stocks. With such mindset, investors started shying away, marking a downward turn intraday. The Dow lost all gains made intraday, including the intraday record of more than 35,000 during the session, ending just below the line. NASDAQ records the biggest fall since March with a 2.6% drop in this session, while S&P also sank in this session. An overview for the movements in the market today:• The Dow Jones Industrial Average lost 0.09% and at 34,745.16.• S&P 500 Index decreased by 1.04% and currently at 4,188.52.• NASDAQ Composite Index dropped to 13,401.86 after losing 2.55%.• Yield on 10 Year Treasury now at 1.6020%.• Gold up by $6.90 or 0.38% and now at $1,838.20 an ounce.• Crude down by $0.08 or 0.12%...

P R E S S  R E L E A S E Stockholm, May 19, 2021 Operating profit (EBITA) 40% higher than in 2019 January 1 – March 31, 2021Net sales amounted to MSEK 388 (372). Adjusted for changes in foreign exchange rates, sales increased 17 percent. Operating profit (EBITA) increased by 244 percent to MSEK 42 (12). The operating margin (EBITA margin) was 10.7 (3.2) percent. Profit after tax increased by 605 percent to MSEK 21 (3). Earnings per share increased by 605 percent to SEK 1.08 (0.15). Our comparison year is 2019, since 2020 was an extraordinary year. During the first quarter of the year, net sales adjusted for changes in foreign exchange rates, increased by 12 percent, operating profit (EBITA) increased by 40 percent and profit before tax increased 31 percent compared with the first quarter of 2019.CEO comment “We are delivering our best...