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US markets rallied; Lyft fell after-hours on Q4 results; Harley Davidson jumped 15% on Q4 results

  • The Nasdaq rose 1.3% on Tuesday to close the session at 14,194 points.
  • Lyft shares fell 3.6% after-hours on lower-than-expected active rider growth.
  • Harley Davidson jumped 15.4% on Q4 results including a swing to profit.

The US markets rallied on Tuesday on the release of some upbeat quarterly corporate earnings reports and news that analysts expect profits rose 30% overall across the board in the fourth quarter from a year earlier according to FactSet.

The Dow Jones rose 1.1% to finish the trading day up 372 points to close at 35,463 points.

The tech heavy NASDAQ rose 1.3% to finish the trading day up 179 points to close at 14,194 points with Amazon and Apple gaining 2.2% and 1.85% respectively.

One bitcoin is worth US$44,069 going into the Asian trading day.

The Australian dollar is stronger against the major currencies and is buying 71.46 US cents.

Rideshare company Lyft fell 3.57% in after-hours trade following the release of its fourth-quarter earnings after the closing bell on Tuesday. For the period, Lyft reported adjusted earnings per share of US$0.09/share, revenue of US$970m and revenue per active rider of US$51.79 which beat all market expectations, but the company fell well short of market estimates for active riders growth with just 18.73m compared to the expected 20.2m. Lyft executives also said the spread of Omicron will weigh on first quarter results.

Shares in motorcycle giant Harley Davidson popped 15.4% on Tuesday after the company reported fourth-quarter earnings including a swing to profit. For the period, Harley Davidson reported adjusted EPS of US$0.14/share, motorcycle and related product sales up 54% YoY to US$815m and total revenue for the year was up 32% to US$5.3bn, driven by increased demand for motorcycles during the pandemic.

And the World Wildlife Fund has canceled its plans to raise funds for its conservation efforts by launching a Tokens for Nature NFT collection featuring 13 endangered species after receiving backlash from environmentalists questioning the WWF’s plans to join one of the least sustainable practices on earth.

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