US stocks were mixed in the last trading day of 2021, but the major indexes closed out one of their best years on record.
The Standard and Poor’s 500, (S&P 500) a stock market index that tracks the performance of 500 large companies listed on stock exchanges in the United States was up by more than 27% in 2021. The Dow was up 19% on the year, while the Nasdaq gained 21%.
Even as we start the new year, investors are still concerned about the impact of the omicron variant on the global recovery.
Earnings Releases Today
US Markets open today, here are the major news making headlines.
Tesla Reports Record 87% Increase in 2021 Deliveries
Tesla said on Sunday it delivered a record 308,000 electric vehicles in the fourth quarter of 2021, an increase of 87 percent compared to the previous year, despite the chip shortage that has disrupted auto production across the globe.
The figure beat the previous record set in the third quarter of last year when the carmaker delivered 241,300 vehicles. In the whole year 2021, Tesla delivered over 936,000 electric vehicles, up from 499,647 delivered in 2020.
ALSO READ; Tesla Recalls Over 475000 Cars Over Potential Technical Defects
Kroger approves new $1B stocks buyback scheme
The Kroger Co. (Stock symbol; $KR), an American retail company that operates supermarkets and multi-department stores throughout the United States unveiled on Thursday that its board of directors has given a green light to the new $1 billion share repurchase program.
The current authorization has about $157 million worth of shares remaining, the company said in a statement. The program does not expire at a specific time and can be ended by the board’s vote.
“Kroger’s share repurchase authorization reflects our Board of Directors’ confidence in the strength of our free cash flow and our ability to deliver consistently strong and attractive total shareholder returns,” CEO Rodney McMullen said.
AT&T, Verizon asked by US govt to delay 5G again
Two of the biggest US phone firms rejected a government request to delay the rollout of 5G services this week.
The US Transportation Secretary Pete Buttigieg and the Federal Aviation Administration (FAA) made the request over concerns about aviation safety.
According to BBC, Plane makers have warned that C-Band spectrum 5G wireless signals may interfere with sensitive aircraft electronics and could disrupt flights.
In a joint letter, the chief executives of AT&T and Verizon said the proposal to delay for a fortnight the introduction of 5G services, which are due to start on 5 January, would be “an irresponsible abdication of the operating control required to deploy world-class and globally competitive communications networks.”
Delivery Hero acquires additional Glovo stake
Delivery Hero SE has announced that it struck a deal to acquire an additional 39.4% stake in Glovo app, becoming Glovo’s majority shareholder.
The transaction, dependent on regulatory approval in several countries, will be finalized in the second quarter of 2022, according to the companies’ expectations.
“After closing, Glovo will continue operations with their existing brand and platform under their current management team led by its two founders who will remain invested in Glovo,” the German company explained in a press release.
Delivery Hero already owns 44% of Glovo.
READ; Wall Street Closes Higher, Samsung rumoured to acquire Biogen, SpaceX raises $337 million
