Wallstreet
The major indices in the US stock market closed on the positive on Thursday with earnings releases and latest developments on Covid-19 being the most dominant themes among investors.
The Dow Jones closed 1.08% higher, the S&P 500 closed 1.09% higher while the Nasdaq 100 was up 1.18%.
Pinterest Earnings
Pinterest Inc. has released its financials for the fourth quarter with revenue jumping by 76% to $706 million. In the full year 2020, it grossed $1.693 billion, 48% growth from the previous year.
For the 12 months under review, it reported a net loss of $128.3 million, compared to a net loss of $1.36 billion in 2019.
“We welcomed over 100 million additional monthly active users to Pinterest in 2020, more than any other year in our history, and now we reach more than 450 million monthly active users around the world.” said CEO Ben Silbermann.
Gilead Earnings
American biopharmaceutical company Gilead Sciences on Thursday reported its financials for the fourth quarter with total revenues rising 26% to $7.42 billion from the same trimester last year. Quarterly net income for Q4 fell 42% to $1.55 billion.
For the full year ended December 2020, total revenues rose 10% to $24.69 billion while net income for the period fell massively by 98% to $123 million.
Shell Earnings
Shell on Thursday released its fourth-quarter earnings reporting loss attributable to shareholders of $4 billion, down from an income of $965 million a year ago. Loss per basic share came in at $0.52 in the fourth quarter, from earnings per share of $0.12 in the same three-month period in the previous year.
Total revenue and other income in the fourth quarter FELL BY 47% to $45 billion.
For the full year 2020, Shell reported a loss attributable to shareholders of $21.7 billion from an income attributable to shareholders of $15.8 billion in 2019.
“2020 was an extraordinary year. We have taken tough but decisive actions and demonstrated highly resilient operational delivery while caring for our people, customers and communities.” CEO Ben van Beurden said.
Ford Earnings
Ford Motors released its fourth-quarter financials with revenues decreasing by 9% to $36 billion. The company’s automotive revenue was at $33.2 billion. Net loss widened by 65% year-on-year to $2.8 billion while full-year revenue fell by 18% to $127.1 billion.
US initial jobless claims
The number of initial jobless claims in the United States for the week ending January 30 fell by 33,000 compared to the previous week’s revised figure to 779,000, the country’s Labor Department announced.
The previous week’s level was revised down by 35,000 from 847,000 to 812,000. The 4-week moving average was 848,250, a decrease of 1,250 from the previous week’s revised average. The previous week’s average was revised down by 18,500 from 868,000 to 849,500.
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