Stock Price Movement of Starbucks, JPMorgan Chase, and more Companies
Starbucks Stocks Fell by 2.3%
In the premarket trading, the stock prices for Starbucks have experienced a 2.3% dip. The dip was observed after the officials at Starbucks announced that it had decided to proceed with suspending the program for the repurchase of shares.
Starbucks has announced that the funds it had allocated for the repurchase of shares will now be used for the expansion. The coffee chain has huge plans for expanding its business and magnifying its growth in the upcoming years.
It is being claimed that the decision for the suspension of the share repurchase program has been made by Howard Schultz. This is the third time Howard Schultz has been appointed as the CEO of Starbucks. Howard Schultz has replaced Kevin Johnson, who is retiring from his post as the CEO of Starbucks.
JPMorgan May Face a Huge Stock Price Dip
It is being expected that the share prices for JPMorgan Chase may experience a dip in the upcoming days. The reason behind the potential dip in the share prices for JPMorgan Chase could be the annual letter that the executives have sent their investors.
In the annual letter, JPMorgan Chase has revealed that it may end up experiencing a $1 billion loss in the upcoming days. Jamie Dimon, the chief executive officer reportedly sent an annual letter to the investors where he talked mentioned the Russian investments.
While talking about the Russian investments, JPMorgan Chase’s CEO stated that the investors from Russia have reportedly invested $1 billion in the investment firm. If JPMorgan Chase ends up taking an action against Russia and removes its investments, it may cost the company a $1 billion loss.
JD.com Shares Surged by 5.1%
The share prices of JD.om have experienced a 5.1% surge in premarket trading. The surge was observed after the Chinese regulatory authorities announced that the confidentiality rules will be revised in the light of audits.
If the revision proposal gets approved, the obstacle may get removed that is putting the reputation of the US-exchange listed Chinese companies on the list.
Netease, Alibaba, and Tencent Music Shares Experienced the Surge
In the premarket trading, the share prices for Netease, Alibaba, and Tencent Music have experienced a significant surge. The reason behind their share price surge is also the same as JD.com. The Chinese regulatory authorities are now taking the steps necessary to rebuild the reputation of the China-based US-stock listed companies.
The report suggests that the share prices for Netease have experienced a 3.9% surge. The share prices for Alibaba have experienced a 4.3% surge, while Tencent Music has experienced a 5.2% surge in premarket trading. If the proposal is approved, the share prices for these companies may surge even more.