The most important news from last week 2.5.2022
Tesla recalled another batch
Tesla again recalled more than 14.000 vehicles in China because of software issues, which could lead to an accident. It is already second recalled batch in April. The problem occurred on Model 3 type of their cars, which were manufactured between January 2019 and March 2022. Some of the recalled cars were produced also outside of China. Cars did not show a unit for speed under Track Mode, which could cause misleading to the drivers.
Activision shareholders approved Microsoft deal
It seems that saga of Microsoft buying Activision Blizzard is over, as stockholders approved an offer from Microsoft, to sell the company for 68,7 billion dollars. More than 98% of shareholders voted in favour of the deal. First hints came out in January, when Microsoft said that they agreed to buy Activision for 95 dollars per share. It is the biggest deal in gaming industry in history, amid tech giants increasing their part in virtual future.
Movement of Microsoft’s stock in the last five years. (Source: Trading Economics)*
Volkswagen and BP expansion
Partnership between Europe’s carmaker giant Volkswagen and oil company BP is expected to get even stronger, as companies are planning to expand to other regions and technologies. The comments of CEO’s were targeting an increasing effort to expand charging infrastructure for EV’s and with this battle the fear over range, that an EV can drive. They are planning to install around 8000 additional charging stations across Europe by 2024. We could also witness the faster charging.[1]
Apple’s supply problems grow
On Thursday, Apple announced that they were expecting bigger problems in supply. The reason, as company said, is Covid 19 lockdowns in China, war in Ukraine and global chip shortage. CFO of Apple warned investors, that the war in Ukraine could worsen the sales in third quarter even more. The expected financial damage to sales is between 4 billion and 8 billion dollars, which is even bigger than the damage, that was done in the second quarter. [2]
Ford stopping production
Ford Motor, an American car manufacturer, confirmed that they are halting the production of vehicles next week at its Flat Rock plant. One of the plant’s objectives is also to assemble the Mustang. Company said that the reason for this decision was shortage of semiconductor chips. Ford also stated that they have produced more than 50.000 vehicles, but are not able to ship them, because they are waiting for the final parts, which are held up because of the mentioned cause.
Sources: Trading Economics, Investing, Reuters, CNBC
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[1,2] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.
The content of this material constitutes marketing communication and should not be considered as any type of investment advice and/or investment research and/or a solicitation for any transactions. This material was prepared for informational/educational purposes only and does not imply an obligation to perform investment transactions nor does it guarantee or predict future performance. BCM Begin Capital Markets Cy Ltd and its relevant persons including affiliates, agents, directors, or employees do not guarantee the accuracy, validity, timeliness, or completeness of any information/data provided by third parties and assume no liability for any loss arising from any investment made based on the said information/data. Past performance is no guarantee of future results.
