Read this Friday’s edition of the FolhaMercado newsletter (3) – 02/03/2023 – Market

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Only the Meta was saved

Apple, Alphabet (owner of Google) and Amazon, three of the five largest companies in the world by market value, released their results for the last quarter on Thursday (2).

• In post-market negotiations, the balance sheets did not change prices much.

In common among the results released this Thursday, the three companies felt the effects of high interest rates and the economic slowdown, but nothing much beyond what the market had already calculated.

the highlights of big tech balance sheets in the last quarter of 2022:

Apple saw its three-year run of high earnings come to an end. You US$117.2 billion (R$ 584.7 billion) represent a drop of 5% compared to the same period last year, and were below analysts’ estimates.

• The company suffered in the period with bottlenecks in its production in China, where the largest iPhone factory in the world is located, but the CEO also cited economic factors and the appreciation of the dollar as revenue reducers.

Advertising revenue from alphabetby far the most relevant for the company, fell from US$ 61.2 billion to $59 billion (R$ 294.3 billion), also below projections.

• It is the first drop of this type of revenue since the beginning of the pandemic and the second time in history since the company went public in 2004.

the recipe of $149.2 billion (R$ 744.4 billion) from Amazon even grew compared to last year and came above expectations, but the slowdown in the company’s cloud sector (AWS), the most profitable sector, took away the analysts’ spirits.

the new reality of big techs after the digital explosion in the pandemic led these companies to lay off en masse – the exception is Apple, which did not announce a wave of cuts, but has been holding back hiring.

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Directors sold shares before the Americanas crisis

The directors of Americanas sold 14.1 million of shares in the second half of 2022, almost five times the amount traded between May 2019 and June 2022.

The data was compiled by the Quantzed Platform.

In numbers: the operations yielded BRL 244.3 million in values ​​corrected for inflation, a growth of 55% in relation to sales from May 2019 to June 2022 — even though the value of the shares fell over the period.

Why it matters: this surge in share sales at a time when the retailer had already announced the change in command of the company, which would take place the following year, is the subject of one of the inquiries by the CVM (Comissão de Valores Mobiliário).

• It is also used by creditor banks to reinforce suspicions that the company’s management was aware of the financial situation that led to the request for judicial recovery on the 19th.

More on the subject of judicial recovery

Santander was the first bank, this Thursday, to disclose the results of the quarter that ended in December.

• The result of the crisis involving Americanas should appear strongly in the next balance sheet, but the bank has already separated BRL 1.1 billion (about 30% of its exposure) on provisions expenses (money to cover defaults).

A Americans managed to prevent in court that concessionaires cut the supply of water, energy and internet for non-payment.

Find out why Hiwho is heading towards a second request for judicial recovery, must have more difficulties to leave the process this time.

• See here how Oi’s crisis began, still in 2008.

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take a break

• To watch: “McMillions” – on HBO Max

The six-episode documentary reports a fraud of US$ 24 million from a McDonald’s promotion, in the United States, between 1989 and 2001.

Understand: in the promotion, customers won stamps to fill out the Monopoly game card – which in Brazil was adapted for Banco Imobiliário. Some of these stamps were rewarded with cash values ​​of up to US$ 1 million (about R$ 5.5 million).

• The employee of a company that provided services to McDonald’s found a way to steal the most valuable stamps and, with the help of a criminal, pass them on to people who were willing to receive the prize and deliver part of the value.

In the second episode we already know who are the brains of the fraud, but “McMillions” does not lose interest. The merit of the series is to seek to understand what led dozens of people to accept the role of oranges in crime, wrote columnist Mauricio Stycer in 2020.

In addition to economics:

• TV Folha: Bricklayers from Pernambuco are successful with covers recorded in buildings under construction; watch.