GameStop (GME) Thrilled The Market Again, Blackstone (BX), Nasdaq (NDAQ), Abbott (ABT) Calmed

AUUD Stock
AUUD Stock

GameStop Corp. (GME) grew to $347.51, up +134.84 percent. After a 93 percent leap on Tuesday, with a capitalization of nearly $25 billion, GME soared again. The stock of the video game distribution chain has become the most speculative vehicle of the moment, boosted Wednesday by a tweet from Elon Musk, Tesla’s boss, even though it had already been multiplied under the fire of frantic purchases of smallholders, causing panic buybacks of short-selling positions of hedge funds. But the group has posted losses since 2018, and despite a jump in online sales in 2020, it is not expected to return to profit until 2023, analysts said.

Nasdaq, Inc. (NDAQ) was +0.05% stable to $141.2. NDAQ posted sales of $2.9 billion in 2020, up 15%. Revenues from Solutions grew by 11 percent, while consumer facilities with trading volumes increased by 21 percent. Revenues for the fourth quarter rose 22 percent to $788 million. In 2020, diluted adjusted EPS was $6.18, up 24%, while the fourth quarter was $1.60, up 24%.

Blackstone Group Inc. (BX) rose +0.4% to $65.16. Blackstone, which will acquire a $2.8 billion Allstate business, has posted higher-than-expected sales and earnings. Quarterly profits per share were $1.07 versus 89 cents by consensus. $1.13 was the distributable EPS.

Abbott Laboratories (ABT) was down to $114.29, down -0.38 percent. For the year, ABT surpassed the revenue consensus with rapid diagnostics. For the year, the company posted a net income of $2.1 billion or $1.20 per share, relative to $1 billion a year ago. The average EPS was $1.45 against the $1.35 estimate. There was $10.7 billion in quarterly sales, relative to $8.3 billion in the same time last year. There was a sales consensus of 9.9 billion dollars. Sales of rapid diagnostics more than quadrupled, with Covid-19 PCR studies, to $2.4 billion. The company says it plans at least $3.74 EPS and $5 or more adjusted EPS for 2021.


Please enter your comment!
Please enter your name here