Cboe’s Market Recap: April 18 To April 22

Photo by Mark Basarab on Unsplash

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The first quarter of 2022 has been relatively kind to Wall Street’s bears.

Cboe Global Markets Inc. CBOE reports a third consecutive week of declining market indices and exchange-traded funds across the world, particularly the Nasdaq 100 Index and the S&P 500 Index.

Similar weakness is observed in European stock markets, specifically in Germany’s DAX 30, France’s CAC 40 and Europe’s MSCI European.

Reed Hastings and Ted Sarandos’ Netflix Inc. NFLX wins chart of the week following a disappointing earnings report.

Bears have also been enjoying themselves in the cryptocurrency market, where major coins continue to struggle to find a bullish ground. Finally, Cboe notes important upcoming earnings that may lift investors’ eyebrows in the following week.

Quick Bites

Exchange-Traded Funds (ETFs)

The SPDR S&P 500 ETF SPY declined 2.68% last week, noting a third consecutive week of declines.
The Invesco QQQ Trust Series 1 QQQ declined 3.85% last week, dropping 44 points over a three-week period.
The iShares Russell 2000 ETF IWM declined 3.16% last week. It now approaches the low of the 12-week range between the $212.25 and $187.92 price levels.
The Cboe Volatility Index™ VIX increased 24.23% last week, the first double-digit change since the week ending March 21.

World Markets

The MSCI European ETF IEUR declined 1.77%, mimicking other indices’ three weeks of consecutive losses.
The iShares FTSE 100 ISF dropped 1%, declining from the highs it set a couple of weeks ago.
The iShares DAX 30 EXS declined 0.25% week-on-week.
The Lyxor CAC 40 ETF CAC declined 0.06% week-on-week.

Chart Of The Week: NFLX

This photo was taken from the TradingView platform

Shares of streaming-service provider Netflix took another blow to its already-declining stock price following an earnings release that saw its subscriber count decline for the first time in decades. NFLX shares tumbled 25% on the news. The company partially attributes its loss of 200,000 subscribers to the loss of 700,000 Russian subscribers.

Co-CEO Reed Hastings declared that Netflix is exploring lower-priced, ad-supported tiers to combat declining subscribers.

Major Cryptocurrencies

- Bitcoin BTC/USD declined 0.56% following last week’s failed attempt to make a new high over the prior week.
- Ethereum ETH/USD declined 2.22% following a test of $3,200 last week.
- Solana SOL/USD declined 0.94% following a test of $111 last week.

Upcoming Earnings And Catalysts

April 25

Coca-Cola Co. KO, Activision Blizzard Inc. ATVI and Otis Worldwide Corp. OTIS released earnings on April 25. Earnings estimates stand at $0.58 per share, $0.72 per share and $0.74 per share, respectively.

April 26

Several major corporations report earnings on April 26, including Microsoft Corp. MSFT,

Alphabet Inc. GOOGL, Visa Inc. V, United Parcel Service Inc. UPS, Enphase Energy Inc. ENPH and General Electric Co. GE.

According to Kiplinger, for Alphabet stock, specifically, consensus estimates are for earnings of $26.11 per share (-0.7% year-over-year) and revenue of $68.1 billion, up 23% from the year-ago figure. Kiplinger reports that analysts of Microsoft are, on average, projecting a top-line estimate of $49 billion for revenue. On the bottom line, the average outlook is for $2.18 per share (+7.4% YoY).

April 27

Meta Platforms Inc. FB, Paypal Holdings Inc. PYPL, Spotify Technology SA SPOT, Harley-Davidson Inc. HOG and Boeing Co. BA report earnings on April 27.

The earnings estimates per share for each are $2.56, $0.88, -$0.25, $1.47 and -$0.15, respectively.

April 28

Apple Inc. AAPL, Amazon.com Inc. AMZN, Twitter Inc. TWTR, Caterpillar Inc. CAT and Roku Inc. ROKU report earnings on April 28.

The earnings estimates per share for each are $1.43, $8.13, $0.03, $2.61 and -$0.19, respectively.

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