getquin Daily Summary 10.08.2022
Hello getquin,
the low water on the Rhine makes the price for the #transportkosten on the canal skyrocket. In addition, the US inflation is weakening and the former #ceo of Nikola leaves his post at the end of the year. Today there are delicious burgers at the #quartalszahlen.
Europe🌍:
1. low water on the Rhine causes transport costs to rise
Transportation costs are rising on the Rhine, Germany's busiest river, due to falling water levels caused by the hot summer and lack of rainfall. On Wednesday, spot costs for shipments from Rotterdam to Karlsruhe rose to around 110 euros per ton. That was 16 euros more than on Tuesday, according to commodity traders. By contrast, in June, before the drop in water levels, only around 20 euros per ton had to be paid.
As a result of the hot and dry weather, the water levels of the Rhine continue to fall. According to the financial service provider Refinitiv, only 48 centimeters were measured in the Kaub-Enge south of Koblenz on Wednesday. However, for ships to be able to sail fully loaded, the level must be at least 1.5 meters.
Read more here: https://bit.ly/3QwvqM7
America🌏:
2nd US inflation weakens
In the United States, inflation fell in July. According to the U.S. Labor Department in Washington on Wednesday, the inflation rate was 8.5 percent. This is down from June, when it was 9.1 percent. Economists surveyed by the Bloomberg news agency had expected a rate of 8.7 percent.
The main reason for the decline was lower gasoline costs and the reaction of the markets was positive. The Dax gained after the release, rising more than 1 percent in the early afternoon.
Do you think the inflation rate continues to fall? https://bit.ly/3zJAEgU
3. Nikola CEO Mark Russell retires at the end of the year
Nikola CEO Mark Russell will retire at the end of the year, the company announced Wednesday. Russell will be replaced by Michael Lohscheller, the former CEO of German automaker Opel, who joined Nikola in February.
Nikola shares rose about 4% in premarket trading immediately after the news was announced.
Is this a good decision? https://cnb.cx/3JK3wKk
🟥 $NKLA (🔽 -1,27%)
Quarterly figures:
🍔Wendy's $WEN (-2,03%)
Wendy's Co missed Wall Street estimates for quarterly U.S. sales growth Wednesday as Americans reined in spending on burgers and fries in the face of inflation.
Low-income households are avoiding discretionary purchases while prices for everyday items are soaring, impacting the hamburger chain, which was already struggling to compete with McDonald's Corp, KFC and Burger King.
EPS: 🟩 $0.22 expected vs $0.24 published; difference: 8.22%.
Revenue: 🟥 $548.85 million expected vs $537.78 million published; variance: -0.2%
Source: https://reut.rs/3vW5Jwx
Stocks of the day:
🟩 TOP $XMTR (-2,28%) 51,25 € (🔼 +24,39%)
➡️ AI-based marketplace for digital manufacturing
👍 Quarterly figures
🟥 FLOP $ANGI (-16,24%) 4,98 € (🔽 -16,71%)
➡️ Home Services USA and Canada
👎 Quarterly figures
🟩Most searched $NVDA (+2,32%) 169,17 € (🔼 +1,14%)
🟩 Most traded $TSLA (-6,59%) 837,25 € (🔼 +0,38%)
🟩 S&P500, 4,195.31 (🔼 +1.77%)
🟩 DAX, 13,661.16 (🔼 +0.93%)
🟩 bitcoin ₿, €23,184.78 (🔼 +2.23%)
Time: 17:00 CEST
Fun Fact:
The name Google should be familiar to all Internet users today. It is a play on words, a variation of googol. One googol corresponds to the number 1 times 10 to the power of 100, which is supposed to symbolize the amount of data on the web that needs to be organized.
