Softbank Group Unsponsored ADR

SoftBanks Vision Fund $SFTBY (+0.75%) plans an investment of 500 million dollars in OpenAI marking the technology company's first investment in the developer of ChatGPT - reports The Information.

SoftBank
$SFTBY (+0.75%) reportedly held talks with Intel
$INTC (+1.17%) about the development of an AI chipthat could compete with Nvidia
$NVDA (-2.33%) .

However, the project failed because the 🇺🇸 US chip manufacturer could not meet the requirements of the Japanese 🇯🇵 group of companies - Financial Times.

Dear Quin Experts,

anyone who witnessed the dotcom boom knows that the highest returns throughout the IPOs were possible with venture capital firms.

Assuming that AI is about to experience a comparable boom, VC shares would certainly be there again.

My question: does anyone happen to know of any VC firms specializing in AI startups? Apart from the general store $SFTBY (+0.75%) I could not find any.

(Please respond to the question only!).

getquin Daily Summary 02.09.2022

Hello getquin,

we have reached the last day of the week and you can now look forward to a relaxing weekend, hopefully with good weather. The markets are apparently also happy and give us again green numbers. Have fun reading!

Europe🌍:

1st Lufthansa pilots strike

Lufthansa was recently able to settle the wage dispute with ground staff. Now there is again a reason for flight cancellations, because Lufthansa pilots are on strike. A whole 800 flights are cancelled and about 130,000 passengers do not arrive at their destinations. The pilots want 5.5% more pay and automatic inflation compensation from 2023. Lufthansa counters that it cannot bear the additional costs of around 900 million. However, the strike was apparently already priced into the share price.

SOURCE: https://bit.ly/3Ba8zkO

🟩 $LHA (-1.03%) 5,94 (🔼 +1,96%)

America🌏:

2. new competition for Amazon

The Stock of the Day of 29.08.2022, e-commerce giant Pinduoduo, wants to snatch market share away from Amazon in the USA. For this purpose, a competitor website was launched under the name "Temu". Pinduoduo apparently wants to learn from SHEIN and ship products directly from China to America. Delivery times are said to be around 8-15 days. Can the website compete with Amazon? What do you guys think?

SOURCE: https://cnb.cx/3q2nFlY

🟩 $PDD (-3.9%) 71,95 (🔼 +0,5%)

Asia🌏:

3rd SoftBank to lay off 20% of VisionFund employees

After SoftBank posted a $23 trillion loss last quarter, Masayoshi Son now wants to cut costs. A large part of the quarterly loss comes from falling valuations in the VisionFund portfolio. As a result, SoftBank's investment arm is now set to cut about 100 of its 500 jobs worldwide.

SOURCE: https://bloom.bg/3wQWiPn

🟥 $SFTBY (+0.75%) 39,15 (🔽 -0,45%)

Worldwide🌏:

4th G7 countries want price cap for Russian oil

To counter rising oil prices and also limit Russian revenues, the G7 countries want to decide on a price cap for Russian oil. The idea emerged back in June and is to be discussed in more detail today.

SOURCE: https://bit.ly/3B8HIpd

🟩 Brent oil 95.09 (🔼 +3.16%)

Stocks of the day:

🟩 TOP $UN01 5,65 (🔼 +3,34%)

👍 Uniper is considered a systemically important company and enjoys state aid. The upcoming gas levy will provide additional relief for Uniper, giving investors renewed confidence in the company.

🟥 FLOP $BYDDY (-0.77%) 27,62 (🔽 -6,57%)

👎 The poor quarterly figures of competitors and the exit of Warren Buffet probably continue to weigh on the share.

🟩 Most searched $NVDA (-2.33%) 141,00 🔼 +0,50%)

🟥 Most traded $BYDDY (-0.77%) 27,62 (🔽 -6,57%)

🟩 S&P500, 4,015.98 (🔼 +1.24%)

🟩 DAX, 12,994.78 (🔼 +2.89%)

🟩 bitcoin ₿, 20,379.69 (🔼 +0.75%)

Time: 17:00 CEST

Fun Fact:

Did you know that the United States represents 54.5% of the world's equity market capitalization?

#MarketNews
#MarketNewsUpdate

getquin Daily Summary 31.08.2022

Hello getquin,

Today we have again exciting topics for you from the search at J.P. Morgan in Frankfurt to layoffs and crazy market movements at Snapchat.

Europe🌍:

1. investigators search US major bank J.P. Morgan in Frankfurt

JP Morgan wants to cooperate. The background is the Cum-Ex scandal. There are said to be more than 20 defendants, including managers and employees from the compliance department. The term Cum-Ex stands for trading in large blocks of shares with (cum) and without (ex) dividends, which comes from Latin. Those involved had capital gains taxes refunded to them that they had not paid at all. JP Morgan is said to have been involved in classic cum-ex transactions and later also used corresponding models for tax evasion.

Read more: https://bit.ly/3CHK2oj

🟥 $JEDT €114.16 (🔽 -0.24%)

Americas🌏:

2nd Snapchat announces 20% employee layoffs

Snapchat will lay off 20% of its more than 6,000 employees and discontinue several projects, including its Pixy photo drone and Snap Originals premium shows. The company promoted Jerry Hunter, senior vice president of engineering, to chief operating officer. Snapchat recently reported disappointing second-quarter results and said it would not provide guidance for the current quarter.

Read more: https://cnb.cx/3pWFaDY

🟩 $SNAP (+8.21%) €11.14 (🔼 +11.14%)

Asia🌏:

3rd top Softbank executive resigns

Rajeev Misra, a top SoftBank executive and a key ally of CEO Masayoshi Son, has stepped down from his roles as corporate officer and executive vice president of SoftBank Group. He remains CEO of SoftBank Investment Advisers, the company responsible for the $100 billion Vision Fund, which has made high-profile bets on companies such as Uber. SoftBank's investment strategy has come under fire after a series of bad investments such as WeWork, and the recent slide in tech stocks has hurt the fund's performance. SoftBank's Vision Fund posted a record loss of 3.5 trillion Japanese yen for the fiscal year ended March 31.

Read more: https://cnb.cx/3AE1yH9

🟩 $SFTBY (+0.75%) €20,01 (🔼 +1,65 %)

Welt🗺️:

4th BYD plunges after Buffett reduces his stake

Hong Kong-listed shares of BYD plunged Wednesday after Warren Buffett's Berkshire Hathaway cut its stake in the Chinese electric carmaker. One fund manager said this could be a warning sign of further developments.

The conglomerate slightly reduced its stake to 19.92% from 20.04%, according to a filing on the Hong Kong Stock Exchange. Berkshire sold 1.33 million BYD shares for about $47 million - the group now owns 218.7 million shares, according to the report. EV maker BYD falls more than 12%, dragging down the Hang Seng Index on Wednesday.

Read more: https://cnb.cx/3KynUym

🟥 $BYDDY (-0.77%) €30,90(🔼 +3,89 %)

Special:🎤

5. Bed Bath & Beyond shares plummet after memestock submits share offer for undisclosed amount

Shares of Bed Bath & Beyond fell after the meme-stock-turned-retailer said in a filing that it would sell shares for an undisclosed amount. The company also announced $500 million in new financing and plans for layoffs. The stock fell 24% when the market opened Wednesday. The announcement came just hours before Bed Bath & Beyond unveiled a turnaround plan Wednesday to regain the trust of customers, investors and suppliers. Some investors had called for the retailer to capitalize on its meme status by issuing stock to raise much-needed cash.

Read more: https://cnb.cx/3dYe3Wr

🟥 $BBBY €9,51 (🔼 -23,35%)

Quarterly figures:

🚖 Crowdstrike $CRWD (+4.74%)

EPS: 🟩 $28 cents expected vs $36 cents published

Revenue: 🟩 $516 million expected vs $516 million published

🚖 Hewlett Packard $HPQ (+2.09%)

EPS: 🟥 $1.05 cents expected vs $0.94 cents published

Revenue: 🟥 $14.9 billion million expected vs $14.7 billion million published

🟥 $EUNL (+1.13%) €73.62 (🔽 -0.25%)

🟥 $TSLA (+4.29%) €274.83 (🔽 -1.26%)

🟥 $SP500TR 3.985,56 (🔽 -0,010 %)

🟥 $GDAXI 12.929,62 (🔽 -0,23 %)

🟩 $BTC (-0.17%) ₿, €19.986,32 (🔼 +0,63%)

Time: 17:30 CEST

Joke of the day:

'I won $3 million on the lottery this weekend so I decided to donate a quarter of it to charity. Now I have $2,999,999.75.'

#marketnews
#marketnewsupdate