Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money

71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

5 Top Stories

Arm Pops; Uber Turns Profit; Disney + Fortnite

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

A Shot in the Arm for Softbank

Shares in Arm [ARM] shot up by more than 37% Wednesday after the chip designer reported revenue and earnings that far exceeded analyst estimates. It also projected revenue of up to $900m in the current quarter, similarly far beyond analyst projections of $778m. This was huge news for Masayoshi Son’s SoftBank [9984:T], which took Arm public in September and still owns some 90% of its outstanding stock.  

Uber Turns a Profit!

The ride-sharing giant [UBER] reported its first-ever annual profit, bringing in $1.1bn in 2023, versus 2022’s $1.8bn loss. This was driven by demand both for ride-hailing and deliveries, as well as its nascent advertising business. CEO Dara Khosrowshahisaid this was “an inflection point for Uber, proving that we can continue to generate strong profitable growth at scale”, according to the Financial Times.


$7bn Data Protection Tie-Up 

Data security-focused software firm Cohesity is to acquire the data protection business of Veritas to form a combined entity worth some $7bn. “You’ve got the fastest growth on our side and the best profitability on their side, combined together to be a profitable growth machine that’ s innovating with AI,” Cohesity CEO Sanjay Poonen told Reuters. Cohesity is backed by SoftBank, whose Vision Fund logged a ¥3.4trn gain in Q4 — its first profit in five quarters.

Bard Rebrand 

Google [GOOGL] announced it is to reboot its AI chatbot Bard with a fresh name — Gemini — and a new app for Android; iPhone users will be able to use Gemini via the Google app on iOS. The change is the first step towards “building a true AI assistant”, Sissie Hsiao, a Vice President at Google and General Manager for Google Assistant and Bard, told reporters.

Disney and Fortnite: the Perfect Match? 

“This marks Disney’s biggest entry ever into the world of games and offers significant opportunities for growth and expansion,” CEO Bob Iger said in a release announcing that Disney [DIS] is to spend $1.5bn on a stake in Epic Games, the maker of smash-hit Fortnite. Fans will be able to play with Disney characters within Fortnite, and the deal will also give rise to new titles and features in its theme parks.  

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles