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Pig-Market Down

US markets fell; Cerner soared 13% on acquisition reports; FedEx rallied on Q2 results & upgrade of FY22 guidance.

  • The Nasdaq fell 0.07% to close Friday’s session at 15,170 points.
  • Cerner rose 13% on reports Oracle is looking to acquire it for around US$30bn.
  • FedEx jumped almost 5% after releasing Q2 results that topped expectations.

The US markets closed lower on Friday as investors assessed how policy shifts by the world’s big central banks could impact economic recovery and growth. Investors are also assessing the rise in COVID-19 cases across Europe which has sent the Netherlands among other countries into a strict lockdown over Christmas.

The Dow Jones fell 1.48% to finish the trading day down 532 points to close at 35,365 points .

The tech heavy NASDAQ fell 0.07% to finish the trading day down 11 points to close at 15,170 points.

One bitcoin is worth US$47,216 going into the Asian trading day.

The Australian dollar is stronger against the major currencies and is buying 71.24 US cents.

Cerner shares soared 13% on Friday after the Wall St Journal reported Oracle could soon acquire the health information tech services, devices and hardware company for as much as US$30bn. The acquisition would allow Oracle to expand more aggressively into the US$4tn healthcare industry and if approved at US$30bn, would be the largest takeover in history.

Shares in US-based shipping giant FedEx jumped 4.9% following the release of better-than-expected second-quarter financial results and the company raising its guidance for FY22. For the period, FedEx reported adjusted EPS of US$4.83/share on revenue of US$23.5bn. FedEx also announced a US$5bn share repurchase program and raised its guidance for FY22 to a range of US$20.5-US$21.5/share from US$19.75 to US$21/share.

And General Motors has started delivering its Hummer EV Edition 1 pickup trucks to customers ahead of Christmas. The Hummer EV costs US$110,295 and has a range of around 329 miles on one charge of the battery.

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