From an all-time high to a tumble.
Amazon announces 20-for-1 stock split and Buyback plan & CrowdStrike stock soars
Hello there,
The ever-surging oil price tumbled on Wednesday to $109 a barrel.
Why it matters: West Texas Intermediate crude declined 12% & brent dropped 13%. This sudden decline could be as a result of the U.S. encouraging oil production from other sources aside Russia. This decline also sent the Energy Select Sector SPDR (XLE) down by 3.1% after gaining more than 30% this year. (Barrons) (Barrons)
Amazon announces 20-for-1 stock split and Buyback plan
Amazon (AMZN) shares are moving sharply in trading after the cloud-computing and e-commerce giant declared a 20-for-1 stock split.
Why it matters: The cloud-computing and e-commerce giant also announced a $10 billion stock-repurchase program. The program doesn’t have an expiration date. While stock-splits don’t necessarily create value for holders, they often trigger short-term rallies and in fact, Amazon shares are up nearly 7% since the announcement. The Amazon split will take effect at the close of business on May 27. (Barrons)
CrowdStrike stock soars
Shares rallied 14% after the security software provider posted a revenue of $431million for its fourth quarter.
Why it matters: This revenue is up 63% from a year-ago quarter and well-ahead of the Wall Street expectations of $410.9 million. For its April quarter, CrowdStrike (CRWD) is projecting a revenue of $459.9 million to $465.4 million, which is ahead of Wall Street’s consensus. We wait to see its results in April. (Barrons)
That’s it from us today,
See you tomorrow.
Create your profile
Only paid subscribers can comment on this post
Check your email
For your security, we need to re-authenticate you.
Click the link we sent to , or click here to sign in.