Gainers:
Microstrategy (+50%): Microstrategy is benefiting from the recent surge in Bitcoin, which is approaching its all-time highs. The US specialist in enterprise analytics software owns more than 190,000 Bitcoins, which it acquired at around $31,000, half the current price.
Coinbase Global (+23%): The crypto-currency exchange platform is benefiting from Bitcoin's spectacular recovery this week. The crypto-queen gained around 20% to surpass the $60,000 threshold. The rise is due to last month's SEC approval of Spot ETFs, and the associated new influx into these funds. Its peer, Robinhood Markets, gained 13% over the week.
Duolingo (32%). Shares soared as the company provided a better-than-expected revenue forecast for 2024, citing a shift to online learning and AI integration on its platform. The company's introduction of a new subscription tier featuring generative artificial intelligence (GenAI) and a significant increase in paid subscribers and active users contributed to the positive outlook.
Direct Line Insurance (+25%): This week, the British insurer received a £3.1 billion takeover offer from its Belgian peer Ageas, representing a 43% premium on the group's closing price the previous day. Direct Line turned down the offer, believing it to undervalue the company, and saw its share price soar.
Dell Technologies (+32%): The IT company ended the week on a high note with the publication of its results. Adjusted earnings per share rose by 22% in the last quarter, while revenues fell by 11%. The real driving force behind this surge? Its breakthrough in AI servers, with orders jumping 40% and a backlog of over $2.9 billion. To complete the picture, Dell Technologies is showering its shareholders with a 20% increase in its annual dividend, propelling its shares to new heights.
Rolls Royce (+6%): The British manufacturer of aircraft engines (not cars) reported better-than-expected full-year results, including a doubling of annual profit, record cash flow, and a strong performance in its civil aerospace division. The Group benefited in particular from its cost-cutting program, and solid sales of parts and services. It also gave encouraging forecasts for the current year, buoyed by strong demand in its defense division and the rebound in commercial air travel.
Losers:
Snowflake (-18%): The cloud data analytics giant cooled investors' spirits by announcing the surprise departure of its long-serving CEO Frank Slootman, and by unveiling timid, below-expectation forecasts for the coming quarter and the full year. It forecasts sales of between $745 and $750 million for the quarter, and $3.25 billion for the full year. Analysts fear a severe slowdown in growth.
Xcel Energy (-16%): The power company is facing a difficult week, following legal complications. It received a letter from a law firm informing it of possible liability in the huge Smokehouse Creek fire in Texas, which ravaged an area larger than the state of Rhode Island. At the same time, Xcel is facing legal action in Colorado in connection with the Marshall Fire of December 2021, the costliest fire in the state's history, which claimed two lives and destroyed nearly 1,100 homes.
Reckitt Benckiser (-12%): The British hygiene and household products giant disappointed investors. For the past year, it reported lower-than-expected sales and a 22% drop in profits, weighed down by a 7% drop in sales in the last quarter of the year and excessive commercial expenses in the Middle East. The Group did, however, try to keep investors happy by expressing confidence for fiscal 2024 and promising a higher return to shareholders.
UnitedHealth (-9%): The American healthcare giant suffers a correction after an antitrust investigation by the US Department of Justice was announced. UnitedHealth, which recently expanded its footprint through the acquisition of physician groups, is now under scrutiny for any potential negative impact on competition and patients.
The Chemours Company (-32%) The chemical company, a spinoff from Dupont, saw its stock plummet 39% in pre-market trading after the company announced significant changes in its leadership, with Denise Dignam stepping in as interim CEO and Matt Abbott as interim CFO. The current CEO, Mark Newman, along with CFO Jonathan Lock and Vice President and Chief Accounting Officer Camela Wisel, have been placed on administrative leave. The company also delayed the release of its financial results due to concerns about the accuracy of its financial reporting, which was initially scheduled for February 28.
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