Core Insights - Uber reported better-than-expected revenue for the fourth quarter, but shares declined in premarket trading following the earnings release [1] Financial Performance - Revenue increased to $14.37 billion, surpassing the estimated $14.32 billion [5] - Mobility segment revenue reached $8.2 billion, a 19% increase year-over-year, while delivery revenue climbed 30% to $4.9 billion [1] - Net income for the quarter was $296 million, significantly down from $6.88 billion a year earlier, impacted by a $1.6 billion net pre-tax headwind from equity investment revaluations [2] Gross Bookings - Gross bookings for the quarter totaled $54.1 billion, exceeding the average analyst estimate of $53.1 billion [3] - For the first quarter, gross bookings are expected to increase by at least 17% year-over-year, projected between $52 billion and $53.5 billion [3] Business Segments - The delivery business showed the strongest revenue growth, expanding from restaurants to include groceries and retail [4] - Partnerships with various brands, including OpenTable and Shopify, contributed to the delivery segment's expansion [4]

Eli Lilly and Company’s logo is displayed during a press conference in Houston, Texas, U.S., Sept. 23, 2025.Eli Lilly on Wednesday posted fourth-quarter earnings and revenue and 2026 guidance that blew past estimates, as demand for its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro soars. The pharmaceutical giant anticipates its 2026 revenue will come in between $80 billion and $83 billion. Analysts expected revenue of $77.62 billion, according to LSEG. Lilly also expected adjusted ea ...

Core Viewpoint - Advanced Micro Devices (AMD) experienced a 9% drop in premarket trading due to a first-quarter revenue forecast that did not meet some analyst expectations [1][2] Group 1: Financial Performance - AMD reported fourth-quarter revenue of $10.27 billion, exceeding LSEG consensus estimates of $9.67 billion [1] - The company anticipates first-quarter revenue of $9.8 billion, with a variance of plus or minus $300 million, compared to expectations of $9.38 billion [2] Group 2: Market Context - Analysts had expected AMD to provide stronger guidance for the first quarter, driven by a surge in spending on processors for AI applications [2] - AMD, alongside Nvidia, is a key manufacturer of AI chips and has seen its stock price increase by over 100% in the past year due to rising demand [2]

Core Insights - The cost of national ads for the Super Bowl continues to rise, with NBC selling out ad inventory at an average of $8 million per 30-second commercial, and some ads exceeding $10 million each [1] Advertising Trends - Streaming-only ad spots constitute about 10% of the total ad inventory during the Super Bowl and are priced at approximately half the cost of traditional TV commercials [2] - The streaming simulcast is gaining popularity, with NBC's Peacock service set to simulcast Super Bowl 60, while traditional broadcast remains the primary viewing method [3][4] New Advertisers - Streaming-only ads are attracting new advertisers, allowing smaller brands to participate in the Super Bowl, with all Peacock-only commercials this year being from new advertisers [5] - Brands like Tecovas and Life360 are leveraging streaming ads to engage with a highly targeted audience while managing costs effectively [6] Audience Engagement - Last year, nearly 128 million viewers watched the Super Bowl across TV and streaming platforms, highlighting the event's massive reach [6] - NBC's digital offerings have seen increased demand, driven by the growth of Peacock's subscriber base to 44 million, particularly due to live sports content [7] Brand Strategies - Smaller brands are using streaming-only commercials as a way to enter the Super Bowl advertising space, with companies like Ro and Manscaped exploring more affordable options [9][12] - Ro's experience with streaming ads last year led to a commitment to a traditional ad spot this year, indicating a strategic shift based on previous performance [11]

Core Viewpoint - Gold and silver prices have rebounded significantly after a recent selloff, with analysts indicating that future gains will depend on foreign exchange movements and interest rate expectations [2][3][8]. Price Movements - Spot gold increased by 2.4% to $5,054.6 per ounce, while gold futures rose by approximately 3.4% [2]. - Spot silver saw a rise of 5.8% to $90 per ounce, with silver futures up 8% at $90.16 [2]. Market Context - The rebound in precious metals follows a nearly 10% drop in gold and a 30% decline in silver prices, marking the worst one-day performance for silver since 1980 [2]. - Analysts suggest that the recent price movements are a result of dip buying after significant corrections in the market [3]. Mining Companies Performance - London-listed mining companies experienced gains, with Rio Tinto up 1% and Anglo American up 0.7%, while Antofagasta saw a slight decline of 0.2% [4]. - The FTSE 350 Precious Metals and Mining Total Return Index rose by 2% to approximately 34,963 [4]. Investor Sentiment - UBS CEO noted that clients are becoming more cautious, seeking protection and moving away from the tech sector [4]. - There is a trend of excess cash being redeployed into capital markets, including precious metals [5]. Future Outlook - Analysts predict that further gains in precious metals may be muted, with volatility expected to persist [7]. - The pace and sustainability of future price increases will be influenced by the U.S. dollar, interest rate expectations, and overall risk sentiment [8]. - Goldman Sachs has set a price target of $5,400 for gold by the end of 2026, while BofA Securities has a more bullish target of $6,000 [9]. Market Fundamentals - The physical market fundamentals are described as somewhat shaky but still supportive [10]. - Political uncertainty surrounding the upcoming mid-term elections and the direction of U.S. interest rates under the potential new Federal Reserve chair could impact forecasts [10][11].

Group 1 - Euro zone inflation cooled to 1.7% in January, down from 2% in December, aligning with economists' expectations [1][2] - Core inflation, excluding volatile items, decreased slightly to 2.2% from 2.3% in December [1] - The key inflation rate is now below the European Central Bank's (ECB) 2% target, indicating a likely pause in rate cuts [2] Group 2 - The ECB is expected to maintain its benchmark interest rate at 2% during its upcoming meeting, with no changes anticipated in the near future [2] - Factors that could influence the ECB's stance include geopolitical tensions, euro appreciation, or higher-than-expected inflation [3] - The baseline scenario suggests no changes in policy rates for 2026 and 2027, with a high threshold for any action [4]

Core Viewpoint - The recent U.S.-India trade deal, which includes India's agreement to halt Russian oil purchases, is met with skepticism regarding its actual implementation, given India's historical ties with Russia and its need for affordable oil. Group 1: U.S.-India Trade Deal - President Trump announced a trade deal with India, stating that India agreed to stop buying Russian oil and increase purchases from the U.S. and potentially Venezuela [4] - The U.S. will reduce the main tariff on India from 25% to 18% and remove an additional 25% penalty tariff imposed last summer [6] - Modi confirmed the deal, expressing satisfaction over reduced tariffs for Indian products [7] Group 2: Russia's Response - The Kremlin has not received any official communication from India regarding the cessation of oil purchases, emphasizing the importance of the strategic partnership with India [2] - Deputy Prime Minister Alexander Novak downplayed the potential loss of Indian custom, stating that energy resources remain in demand [3] Group 3: Skepticism and Analysis - Analysts express doubt that India will completely end Russian oil purchases due to its need for cheap oil and the desire to maintain foreign policy autonomy [7][8] - Evan A. Feigenbaum noted that India is unlikely to make explicit commitments against Russian oil, as it would undermine its defense relationship with Russia [9] - Farwa Aamer highlighted that India will need to balance its relations with both Russia and the U.S. while navigating its oil import structure [10] Group 4: Economic Implications - Moody's Ratings agency indicated that India is unlikely to completely turn away from Russian oil due to potential economic impacts, including increased manufacturing costs and higher consumer prices [11] - A complete shift away from Russian oil could disrupt India's economic growth and lead to tighter supply and higher inflation [12]

Core Viewpoint - Shares of Chinese solar panel manufacturers surged following reports of a visit by staff linked to Elon Musk to several photovoltaic suppliers in China, indicating potential demand increase for advanced solar products [1][2][5]. Group 1: Market Reaction - JinkoSolar's shares rose by as much as 20%, reaching their daily limit, while Jolywood Suzhou Sunwatt also saw a 20% increase [2]. - Other solar manufacturers, including Trina Solar and Shenzhen Topraysolar, experienced gains of 8.9% and 10%, respectively, with the CSI All Share Solar Power Equipment Sub-Industry Index increasing by 6.8% [3]. Group 2: Business Developments - Musk's team showed particular interest in suppliers focusing on heterojunction and perovskite technologies, which aim to enhance cell efficiency and potentially lower costs if manufacturing challenges are addressed [4]. - Reports indicated that the visitors were from SpaceX and Tesla, with JinkoSolar confirming the visit but not providing details on business plans [5]. Group 3: Industry Context - The solar sector is currently facing a prolonged price slump and oversupply, which has pressured margins despite leading producers expanding capacity [10]. - JinkoSolar plans to increase its solar wafer, cell, and module capacity in Southeast Asia to over 12 gigawatts by the end of 2030 and operates a factory in Florida with an annual production capacity of about 1.2 million solar panels [11]. Group 4: Future Outlook - Musk's intention to build 100 gigawatts of solar cell capacity in the U.S. suggests a significant opportunity in the solar market, which is currently underestimated [9]. - Despite the recent stock rally, some analysts believe many solar stocks are now fully valued or overvalued, while maintaining a positive long-term outlook for the sector [11].

Core Viewpoint - Venezuela has assured China that its oil pricing will remain independent of U.S. influence, emphasizing the security of Chinese investments in the country [2][5]. Oil Pricing and U.S. Influence - Venezuelan ambassador to China, Remigio Ceballos, stated that Venezuela will not adhere to U.S. arrangements regarding oil pricing, asserting the right to make independent decisions based on international market prices [3][4]. - Reports indicated that the U.S. was considering exerting control over Venezuela's state-run oil company, PDVSA, potentially lowering prices to $50 per barrel [2][3]. China-Venezuela Relations - China has condemned the U.S. military actions against Venezuela and reaffirmed its commitment to the partnership with Venezuela, which is based on mutual trust [4][5]. - Ceballos emphasized that Chinese investments in Venezuela, including those in the petroleum sector, will continue unaffected by external pressures [5][6]. Chinese Investments in Venezuela - China National Petroleum Corporation has joint ventures with PDVSA, and China Concord Resources Corp. plans to invest over $1 billion in a Venezuelan oil project, aiming for a production target of 60,000 barrels per day by the end of 2026 [6]. - Despite Venezuela's significant oil reserves, its crude output has been hindered by mismanagement and U.S. sanctions [6]. U.S. Actions and Responses - The Trump administration has promoted U.S.-led reforms to boost oil production and attract foreign investment in Venezuela, which is seen as beneficial for both the country and American consumers [7]. - The U.S. has returned $500 million from an initial oil sale to Venezuela and is reportedly moving to ease sanctions to revive the energy sector [8]. Diplomatic Developments - Following the military operation against Maduro, the U.S. reportedly urged Venezuela to sever economic ties with China and other nations, although Trump later indicated that Chinese investment would be welcomed [9]. - Chinese President Xi Jinping expressed a commitment to working with Latin American countries, emphasizing the importance of sovereignty and development goals [10].

Core Insights - Novo Nordisk's stock experienced an 18% drop following a surprise pre-release of its 2026 forecast, indicating a decline in sales and operating profit between 5% and 13%, which was worse than analysts' expectations [1][4] - CEO Mike Doustdar acknowledged the challenges posed by significantly lower U.S. pricing for its weight loss drug Wegovy, suggesting that a recovery may take time [2][6] - The company faces competition from cheaper alternatives and rivals like Eli Lilly, impacting its pricing strategy in the U.S. market [6][7] Financial Guidance - The guidance for 2026 indicates a decline in both sales and operating profit, which has led to significant market reactions, reminiscent of previous guidance cuts that resulted in sharp stock declines [4][8] - Analysts from Barclays noted that the current guidance might be overly conservative, similar to past instances where initial forecasts were not met [4] Market Dynamics - The launch of the Wegovy pill in the U.S. exceeded expectations, with 170,000 people using it within four weeks, showcasing strong initial demand despite pricing pressures [7] - The market is questioning whether the recovery will follow a "Nike swoosh" or a "U-shaped" pattern, indicating uncertainty about the timing and nature of the recovery [8]