Welcome to this week’s edition of 4 Customs Street, our weekly newsletter on the stock market.
The newsletter is divided into two parts:
Green White Green is focused on the Nigerian stock market.
Star-Spangled Banner is focused on the US stock market
Green White Green Last Week
Bubbling under
United Capital may have an interim dividend and bonus in the works going by its agenda for a board meeting scheduled for this month. If approved, that would be the very first interim dividend approved by the firm.
Green White Green This Week
There should be more details from other banks as they warm up to raise capital to meet the requirements set by the Central Bank of Nigeria (CBN).
Star-Spangled Banner Last Week
H1 was a good period for stocks. The S&P 500 is up 14.5%.
Chipotle’s 1 for 50 split took effect during the week. Chipotle is an extremely successful restaurant chain known for its burritos and tacos.
Nike is under pressure
Nike shares had their worst decline in over three decades following the release of its Q4 numbers. What’s the issue? The company’s growth is slowing.
Full year revenue was $51.4 billion compared to $51.2 billion in the previous year. Fourth quarter revenues were down 2% year-on-year.
The company dropped the ball by its own admission when it turned its focus to distribution rather than innovating. Competitors such as Lululemon are doing much better.
Star-Spangled Banner This Week
Aside from Constellation brands, it is a pretty quiet week in terms of earnings.
The focus will move to delivery numbers from the country’s automakers, most notably Tesla.
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