Bank rates, Netflix reporting, Lenta delisting: digest

Top 10 deposit rates. Netflix will report on the results of the first quarter of 2022. The Moscow Exchange will delist Lenta's receipts. notable events,

The average rate of the 54 largest depository banks on deposits for a period of one year in the amount of ₽100 thousand as of April 19 is 9.12% per annum, according to the FRG100 index.

The most favorable deposit rate as of April 19, 2022 is 22.83% per annum.

Top 10 banks with high effective rates on deposits and savings accounts as of 04/19/2022:

Novikombank — up to 22.83%; BBR Bank - up to 22%; Gazprombank - up to 21%; Loco Bank — up to 21%; Sinara - up to 21%; VTB — up to 21%; Asia-Pacific Bank - up to 21%; Gazenergo Bank - up to 21%; Promsvyazbank - up to 21%; International financial club - up to 20.10%.

Source: Banki.ru financial marketplace (the effective rate is calculated using the Banki.ru methodology and is not an offer, detailed conditions are in credit institutions).

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Netflix reporting

Streaming service Netflix will report for the first quarter of 2022 after the close of trading on Tuesday, April 19.

Analysts on average believe that over the past three months, the company's adjusted earnings rose to $2.95 per share from $3.75 in the same period a year earlier. Revenue, according to experts, increased to $7.94 billion compared to $7.163 a year earlier.

The company's forecast for subscriber growth for the second quarter will be key for investors, as the market's reaction will depend on it, writes Barron's. The consensus now expects a net increase of 2.5 million. However, the publication notes that the second quarter has historically been the weakest for Netflix. A year earlier, only 1.5 million people subscribed to the service, which was the lowest figure for the year. In 2019, the second quarter was also noticeably weaker than the other three.

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The risk to Netflix's first-quarter performance is the suspension of operations in Russia, where the company has about 1 million subscribers.

Last week, BMO Capital analyst Daniel Salmon cut his first-quarter subscriber forecast from 2.48 million to 1.76 million, largely due to the loss of the company's Russian subscribers. He also lowered his target price for Netflix shares from $650 to $640 (from $337.86 per share on April 18).

However, the expert retained the "Over market" rating, noting that while the number of subscribers still matters, the market is more focused on profitability. Meanwhile, his forecast for free cash flow ( FCF   ) is above consensus, he said.

Rusagro shares

The Rusagro Group is interested in buying the Russian business of the Finnish dairy products manufacturer Valio, Kommersant reported, citing sources.

Valio announced its withdrawal from the Russian market on March 7th. However, on March 9, the Russian division of Valio announced that it was continuing operational work.

The company operates a plant in Ershovo, Moscow Region, with a capacity of 15 thousand tons of products per year. The plant specializes in the production of processed cheese under the Oltermanni and Viola brands, as well as cutting and packaging yellow cheeses.

In 2021, the revenue of the Russian division of Valio increased by 8.78%, to ₽8.14 billion, net profit increased by 29.25%, to ₽320.47 million compared to the previous year.

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Euro exchange rate

As a result of trading on April 18, the euro exchange rate against the DOLLAR fell by 2.15% on the Moscow Exchange to $1.047. On the international currency market, the euro/dollar pair ended the day at $1.07810.

At the same time, the trading volume of the euro with “tomorrow” settlements (TOM) amounted to ₽83 billion, which is twice as much as on Friday, April 15. “Perhaps yesterday's oversupply of the euro was due to some large sales of foreign exchange earnings from gas deals,” said Vasily Karpunin, an expert at BCS World of Investments.

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According to Dmitry Babin from BCS World of Investments, there should not be such a discrepancy in exchange rates, because even if someone needed to sell a significant amount of euros, currency arbitrageurs usually quickly bring domestic quotes into line with the global foreign exchange market based on the rule cross-currency rates.

However, after the introduction of internal and external restrictions, many large participants stopped operations in the Russian market, and besides, access to foreign markets became problematic, Babin said. This leads to the periodic appearance of such anomalies in the Russian foreign exchange market.

Other financial statements

Johnson & Johnson : 1Q 2022 financial results, before market opening, adjusted EPS forecast of $2.59, revenues of $23.69 billion
Lockheed Martin : 1Q 2022, before market opening, adjusted EPS forecast of $6, 21, revenues $15.64 billion
IBM : 1Q 2022 post-market financial results, adjusted EPS forecast $1.39, revenues $13.88 billion
Halliburton : 1Q 2022 post-market results, adjusted EPS forecast - $0.34, revenue - $4.2 billion.

Last day to buy shares for dividends and other important events

Colgate-Palmolive : last day to buy shares at a dividend of $0.47 per share; due date is May 13th.

Lenta : Moscow exchange will delist the company's depositary receipts. The retailer's common shares will continue to be available on the trading floor. Global Ports: 1st Quarter 2022 Operating Results. Annual general meeting of Fortum shareholders. On the agenda is the distribution of profits - including the payment / declaration of dividends - and losses based on the results of 2021. How the previous trading session ended Moscow Exchange Index : 2342.63 (+3.4%) RTS Index : 926.08 (+3.07%) S&P 500 : 4391.69 (-0.02%) DOW JONES Industrial Average : 34 411.69 (-0.11%) NASDAQ Composite: 13,332.36 (-0.14%) Free cash flow. Funds left by a company after all operating expenses have been paid.