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Today in the Market (2/15/2024)

Good Morning! On Thursday, stocks saw a sudden increase, with the S&P 500 index reaching a new all-time high, despite poor retail sales data that cast doubt on the possibility of a smooth economic slowdown in the U.S.

Another day of green, with the S&P 500 increasing by 0.58% while the Dow Jones decreased by 0.91%. The Nasdaq had a rough start but turned it around by rising 0.30%.


Stellantis (STLA), a holding company that oversees Chrysler, Fiat, and other brands, released its full-year financial results and unveiled a fresh share repurchase program. This announcement sent the company’s stock price upward while cautioning about an upcoming year marked by instability.

  • Revenue: $204 Billion vs. $204 Billion Expected
  • Global delivery: Increased by 7%
  • Adjusted Net Income: $20.04 Billion vs. $19.83 Billion Expected

What else? The company announced its intention to buy back 3 Billion euros ($3.2 Billion) worth of shares this year, building upon a previous buyback program conducted last year. The corporation has also declared a dividend of 1.55 euros ($1.67) per share, representing a 16% increase from the previous year.

The past and the future! Stellantis had previously reported that strikes had a negative impact of $808.1 million on earnings in the preceding year and around $3.23 Billion in terms of sales. However, because of its greater ability to set higher prices, Stellantis will be less impacted by post-strike labor expenses compared to Ford (F) or GM (GM). However, the company has cautioned about the challenges they expect to face in the next year.


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Microsoft’s (MSFT) Xbox is expanding its reach by making many of its formerly exclusive titles available on Sony’s PlayStation and Nintendo’s Switch. Xbox chief Phil Spencer said Microsoft would release four games on other platforms, starting with Hi-Fi Rush and Pentiment, followed by Sea of Thieves and Grounded.

Some people are mad, however… Xbox enthusiasts were very concerned about the prospect of Microsoft’s decision to make first-party Xbox games available on other platforms, as they believed it might potentially lead to the downfall of the company’s gaming brand. However, Spencer disagrees with the claim. Most importantly, Xbox Studio head Matt Booty said  Microsoft’s Xbox Game Pass gaming subscription program would not be extended to other gaming platforms

Why is the Xbox Game Pass important? While Microsoft’s first-party games may have achieved a different level of popularity, its Game Pass service has performed brilliantly. Based on the most recent data from the firm, there are 34 million people who are subscribed to Game Pass on both PC and Xbox.

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