Bitcoin's strength fizzles out in 24 hours + Many US stocks hit annual lows + Tesla's sales in Scandinavia slump + Okta exceeds expectations + JPMorgan puts RWE on 'Positive Catalyst Watch'
Bitcoin $BTC (+1.04%)strength completely sold off again
- Bitcoin is losing value again after a strong rise on Sunday and is trading at almost 86,000 US dollars on Bitstamp.
- Market analyst Timo Emden from Emden Research describes the price rise as a "flash in the pan", as the initial euphoria following Trump's comments on cryptocurrencies has given way to a more sober view.
Many US equities at annual lows
- Microsoft Corp. $MSFT (-0.1%)falls to a new low for the year, currently down -2.62% to $386.57. The year-to-date performance is -8.30 %.
- T. Rowe Price Group Inc. $TROW (+0.31%)falls to a new low for the year, currently -1.97 % at $103.62. The year-to-date performance is -8.41 %.
- Occidental Petroleum Corp. $OXY (+0.63%)falls to a new low for the year, currently -5.98 % to $ 45.92. The year-to-date performance is -7.04 %.
- Target Corp. $TGT (+0.53%)reaches new 52-week low, currently -3.26 % at $120.19.
- Copart Inc. $CPRT (+0.2%)falls to a new low for the year, currently -0.64 % to $ 54.42. The year-to-date performance is -5.04 %.
Tesla's $TSLA (-1.48%)sales in Scandinavia collapse
- Tesla's sales in Scandinavia recorded a significant decline in February compared to the same period last year.
- The electric car manufacturer's market share is shrinking, while customer brand loyalty is being severely tested by CEO Elon Musk's political involvement in the Trump administration.
- In recent years, Tesla's vehicles have dominated the sales charts in Norway, Sweden and Denmark.
- But the tide has turned in 2024: According to the latest registration data from Monday, Tesla (NASDAQ:TSLA) is now falling behind competitors such as Volkswagen and Toyota, which are scoring points with new models.
- The figures speak for themselves: in Sweden, only 613 new Tesla vehicles were registered in February - a drop of 42% compared to the previous year.
- The situation is even more drastic in Norway and Denmark, where registrations fell by 48% to 917 and 509 vehicles respectively.
- This trend is particularly notable as the general demand for cars, especially electric vehicles, continues to grow in these countries.
Okta $OKTA (+1%)exceeds expectations
- Okta Inc. fourth quarter earnings per share of $0.78 beat analyst estimates of $0.74.
- Revenue of USD 682 million exceeds expectations of USD 668.91 million.
JPMorgan places RWE $RWE (-0.05%)on 'Positive Catalyst Watch'
- The US bank JPMorgan has placed RWE shares on its "Positive Catalyst Watch".
- According to analyst Javier Garrido's commentary published on Tuesday, he expects the Essen-based company to provide encouraging news on the use of capital with the publication of its annual results.
- He sees scope for further investment cuts of EUR 3 to 5 billion, which could open the door to further share buybacks in the future.
- Garrido's fundamental rating remains "Overweight" with a price target of 47.50 euros.
Tuesday: Stock market dates, economic data, quarterly figures
- Quarterly figures / company dates USA / Asia
- 18:00 Warner Music AGM
- No time specified: Target | Best Buy quarterly figures
- Quarterly figures / Company dates Europe
- 06:45 Kuehne & Nagel Annual results
- 07:00 Bilfinger | Lindt & Sprüngli Annual results
- 07:30 Continental | Fielmann Annual results
- 09:00 Continental BI-PK
- 10:00 Bilfinger BI-PK
- 12:30 Continental Analyst Conference
- 18:00 Freenet preliminary annual results
- Without time information: Bawag Group | VAT | Thales | Prada Annual figures
- Economic data
00:30 JP: Unemployment rate 1/25
00:50 JP: Investment Q4/24
11:00 EU: Labor market data January Eurozone Unemployment rate FORECAST: 6.3% previously: 6.3%
12:30 UK: Chancellor of the Exchequer Reeves, hearing in the House of Commons
15:00 EU: ECB, APP/PEPP monthly report
No time given:
CN: National People's Congress of China, press conference
US: Import tariffs on goods from China, Canada and Mexico come into force
US: Fed Richmond President Barkin, speech at Fredericksburg Regional Alliance event
