Day Trading Guide - Best Stocks to Buy Today - March 04, 2022

 

TOP 5 STOCKS TO WATCHOUT:-

1.HYUNDAI :  South Korea’s Hyundai Motor Co said on Friday it has not decided when to resume operations at its assembly plant in St Petersburg, Russia, citing ongoing issues with components delivery.

“Hyundai Motor Company is deeply concerned by the situation in Ukraine. We can confirm operations of the Hyundai Motor Manufacturing Russia (HMMR) are suspended until further notice due to ongoing global logistics issues with components delivery,” it said in a statement to Reuters.

“The safety of our employees and caring for our customers remains the utmost priority of Hyundai Motor. We sincerely hope the situation is resolved peacefully as soon as possible,” it added.

Operations at the St Petersburg plant have been suspended since March 1.

The South Korean automaker, which together with affiliate Kia Corp is among the world’s top 10 biggest automakers by sales, builds about 200,000 vehicles per year in Russia, about 4% of its global production capacity.

Global auto and truck makers, including U.S. automaker General Motors Co and Germany’s Daimler  Truck, this week suspended some business in Russia following its invasion of Ukraine.

2.GRAB:Shares in Grab tumbled 37% on Thursday after Southeast Asia’s no. 1 ride-hailing and food delivery firm posted a $1.1 billion quarterly loss and a worse-than-expected drop in revenue, hit by promotional offers and higher driver incentives.

Singapore-based Grab Holdings Ltd has poured money into incentives to attract drivers as ride-share demand recovers from pandemic lows, and also offered aggressive food-delivery promotions as people began to dine out more with the easing of COVID-19 restrictions.

But the incentives ate into sales in the fourth quarter ended Dec. 31 – the first it has reported as a public company -which slumped 44% to $122 million.

“We plan to be judicious and disciplined in allocating capital, as we double down on the long-term growth opportunities of our on-demand, advertising and financial services businesses,” Chief Financial Officer Peter Oey said in a statement.

The loss for the whole year ballooned to $3.56 billion versus $2.75 billion in 2020.

Grab is fighting to retain its market-leader position in the face of stiffer competition from GoTo, a company formed by the merger between ride-hailing app Gojek and e-commerce firm Tokopedia, as well as Southeast Asian tech firm Sea Ltd.

Shares of Grab skidded to their lowest ever on Thursday at $3.09, wiping off more than $7 billion from its market value.

Since going public in December after a $40 billion merger with a blank check firm, Grab’s stock has shed nearly three-quarters of its value.

Still, the incentives managed to boost gross merchandise volume (GMV), a measure of transaction volumes, which rose 26%.

Grab said it expects GMV growth between the second and fourth quarters of 2022 to jump 30% to 35% year-on-year, and predicted it would break even on an adjusted EBITDA basis in its food delivery unit by the first half of next year.

 3.BLACK ROCK:-BlackRock Inc, the world’s largest asset manager, said it had halted the purchase of all Russian securities in its active and index funds as of Monday after Russia’s invasion of Ukraine.

It has “proactively advocated” with “index providers to remove Russian securities from broad-based indices,” Rich Kushel, head of the portfolio management group, and Salim Ramji, global head of iShares and index investments, said in a joint statement on Thursday.

Russian securities account for less than 0.01% of their clients’ assets, they said.

Western sanctions on Moscow after it invaded Ukraine last week have prompted a wave of investors to announce they were cutting positions in Russia.

Canadian asset manager Purpose Investments said on Thursday it had divested all direct holdings of Russian companies as of Feb. 28 and pledged to stop new investments as long as Russia’s invasion continued.

Efforts by investors to cut positions have been complicated, however, by a Russian ban on local brokers from selling securities held by foreigners.

BlackRock said earlier this week it was consulting with regulators, index providers, and other market participants to ensure its clients could exit their positions in Russian securities, where allowed.

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