Hi there guys!

Lots of things going on in the Markets… especially as the Economy appears to be booming.

Let’s check out the finance, markets and stocks of Chemical Companies.

Stocks & Markets

Chip Demand: ASML

ASM International, a Dutch company that makes equipment for chip production, cast a bit of a shadow over an otherwise positive earnings report.

While their overall earnings were good, their prediction for revenue this quarter fell short of what analysts were expecting.

This suggests that demand for chips might not be as strong as some had hoped, with uneven recovery happening around the world.

Food Industry: Beyond Meet

• Beyond Meat’s stock price jumped over 78% after exceeding expectations for their fourth-quarter revenue.
• They brought in $73.7 million, according to LSEG (formerly Refinitiv), which was higher than the $66.7 million analysts predicted.

No Apple EV!

Apple hit the brakes on its secretive electric car project, surprising its nearly 2,000 person team.

• Top executives, Jeff Williams and Kevin Lynch, announced the cancellation and many employees will be reassigned to Apple’s AI projects.
• This decision shakes up the electric vehicle industry, potentially giving existing carmakers like Tesla a sigh of relief.

Chemours CC-31.51%

Chemours stock took a nosedive, dropping over 33%, after a series of bad news.

Top executives, including the CEO and CFO, abruptly left the company while an internal investigation into financial reporting is underway.

• This investigation has delayed the release of their fourth-quarter earnings and raised concerns about serious problems with how Chemours handles its finances.

NVIDIA (NVDA 4.00%)

Nvidia’s stock price skyrocketed on Friday, pushing its market value past a whopping $2 trillion for the first time.

• This surge was fueled by positive news from Dell Technologies.
• Dell, a major user of Nvidia’s AI technology in its servers, gave a strong forecast, indicating they expect a surge in demand for these servers.
• This optimism from a key customer about the future of AI using Nvidia’s tech is what propelled Nvidia’s stock price to record highs.

Oil cuts

• OPEC+, a group of major oil-producing countries, decided to extend their production cuts to prevent a glut of oil in the market and keep prices high.
• This decision, backed by powerful members like Saudi Arabia and Russia, aims to cut oil supply by about 2 million barrels per day until at least mid-2024.

Super Micro Compute ( SMCI 18.65%)

Super Micro Computer’s stock price jumped after news broke that the company will be added to the prestigious S&P 500 index on March 18th.

• This move comes as Super Micro benefits from the booming demand for AI servers, and it will replace Zions Bancorporation and Whirlpool in the index.

Tesla’s February China Shipments Plummet

Tesla’s production in China took a hit in February. Shipments from their Shanghai factory plunged to 60,365 vehicles, the lowest in a year.

This slump is attributed to a double whammy: the typical sales slowdown around the Lunar New Year holiday and increased competition in the Chinese electric vehicle market.

The February figures represent a 16% drop from January and a steeper 19% decline compared to February 2023. This drop in production also impacted Tesla’s stock price, which fell to its lowest point in weeks.

GOLD (+0.10%)

• Gold just keeps climbing! Prices hit a record high of $2,160 per ounce today, marking the seventh day in a row of gains.
• The main reason for this surge seems to be the market’s strong belief that the Federal Reserve will cut interest rates in June, which makes gold a more appealing investment.

Novo Nordisk & Pharma

• Novo Nordisk, a diabetes and obesity drugmaker, surged past Tesla today after positive results for a new weight loss pill.
• The stock price jump increased their market cap to $585 billion USD, making them the 12th most valuable company globally.

International Women Day and the workforce

International Women’s Day recognizes both the advancements women have made in business and the need for further progress. While there’s been improvement, like the rise in female CEOs, it’s not equal across all areas.

The growing number of successful, careful women investors shows a positive shift towards women having more control over their finances and bringing different approaches to the market.

Job Openings Drop to Lowest Since March 2021

The U.S. job market showed signs of potential moderation in January 2024. Job openings dipped to 8.86 million, the lowest since March 2021:

• This slight decrease from December’s figures suggests a possible rebalancing after a period of high openings.
• The data, released by the Bureau of Labor Statistics, even came in slightly higher than economist predictions of 8.85 million openings.

Pharma – Moderna

Moderna’s stock price jumped 13.5% after beating Wall Street’s expectations for fourth-quarter revenue.

The company brought in $2.81 billion, which was higher than the $2.5 billion analysts predicted.

• This positive performance was due to two factors: accounting adjustments that recognized revenue sooner and lower expenses than anticipated.

Shorts:

• Henkel adhesives business earnings grow on higher prices, cost-cutting measures
• India opens $2.1B fertilizer plants
• AkzoNobel inaugurates paints, coatings plant in Pakistan
• Conflict with Hamas takes toll on ICL’s earnings, sales
• Mitsubishi Chemical to end MMA production via ACH process, close acrylonitrile plant at Hiroshima
• Sabic denies interest in buying Braskem stake
• Orbia posts loss on weakness in PVC markets
• BASF plans further cost cuts of €1B at Ludwigshafen
• LyondellBasell buys California mechanical recycling assets
• Air Liquide raises margin target as earnings increase…
• Shin-Etsu Chemical to invest $66M to expand pharmaceutical cellulose business in Japan

Final thoughts

There you have it guys, chemical and industrial companies seem to be feeling the stagnation of the economy… will it be that we are heading to a recession? are we in a world recession?

Lets hope for the best!

If you have any feedback, please let me know…

See you next month!