FedEx, Uber, TSG Consumer: This Week's Top Trending Financial Tweets - Week 12
#7. FedEx warns about weaker global trade
On Tuesday, FedEx reported third-quarter earnings that were weaker than expected. The declining international revenue was a result of unfavorable exchange rates and the negative effects of trade battles, CNBC reports.
On top of that, slowing international macroeconomic conditions and a weaker global trade growth continue, FedEx said in a statement.
FedEx warned the whole globe is slowing earlier this week. https://t.co/CcWMkMshOk— CNBC (@CNBC) March 24, 2019
#6. Levi Strauss up 31%
On Thursday, Levi Strauss came back to the stock market after more than three decades with a valuation of $6.6 billion, Reuters reports. The company is controlled by the descendants of founder Levi Strauss which will keep 80% of voting control following the listing.
Levi’s reported an annual mid-revenue of 5.6 billion in 2018.
#5. Altria’s bet on Juul
In December, Altria Group Inc., the US tobacco company behind Marlboro, invested $12.8 billion in e-cigarette maker Juul Labs Inc. The vaporizers of the latter have boosted the e-cigarette market and this is how Altria hopes to keep up with the quickly changing market, the Wall Street Journal reports.
America's biggest tobacco company is investing billions in the thing that could kill it: vaping https://t.co/tCAVCdynPL— The Wall Street Journal (@WSJ) March 24, 2019
#4. Australia’s 10-year bond yield drops
On Friday, the yield on the Australian government 10-year note fell 6 basis points to an unprecedented 1.771%, Bloomberg reports. As the bond market showed signs of further deterioration of the local and global economy, returns on Australia’s 10-year sovereign note hit an all-time low.
Additional pressure came from falling US 10-year swap rates and a 10-year German yield that fell below zero after reports about weakness across France and Germany, according to the same Bloomberg article.
Australia's 10-year bond yield drops to a new record low amid growing fears that the global economy is slowing https://t.co/aT3ikxsOXs— Bloomberg (@business) March 24, 2019
#3. Flying taxis
The sky literally is the limit, it seems. In its latest pilot program, flying taxi startup Blade has started to taxi the Bay Area (San Francisco, Silicon Valley), TechCrunch reports. As such, it is not the only company eyeing the aerial space.
Uber has plans to develop a consumer sky ride-sharing business too (called UberAIR), as do company’s like Kitty Hawk, Volocopter, and Lilium, according to the same TechCrunch article.
#2. TSG Consumer expands in Europe
TSG Consumer Partners, the US private equity group behind craft beer maker BrewDog, recently raised $4 billion for a new global fund. The company intends to use $1 billion of that to buy rapidly growing upstart brands that are challenging consumer goods giants, the Financial Times reports.
TSG wants to try and take advantage from the fact that online shopping and social media have made it easier than ever to launch new brands in the consumer goods sector - and helped challenger brands to take market share from big players such as Unilever and L’Oreal, the FT article continues.
TSG Consumer expands in Europe after raising $4bn https://t.co/rXH1q4WA8W— Financial Times (@FT) March 24, 2019
#1. Uber’s potential deal
On Sunday, there was news about Uber potentially offering more than $3 billion to buy Dubai-based competitor Careem Networks FZ. Sources told Reuters that the offer from Uber could be revealed early next week, Reuters reported.
Uber has been preparing its highly anticipated IPO and bankers have indicated that the company could be valued as high as $120 billion.
There you have it, the 12th week of 2019 all captured in Tweets. As always, we’ll continue to track Twitter and bring you the top financial micro-messages from the web. See you back here next Friday.