You are using an older browser version. Please use a supported version for the best MSN experience.

Jobs report, Tesla truck, Asana falls and more: Friday's 5 things to know

FOX News logo FOX News 12/2/2022 Ken Martin
UP NEXT
UP NEXT

Here are the key events taking place on Friday that could impact trading.

JOBS REPORT: This week’s key economic report, November’s employment data out at 0830 ET Friday morning, will give investors further insight into the impact that higher borrowing costs are having on growth.

Economists surveyed by Refinitiv say the U.S. economy likely added 200,000 new nonfarm jobs. 

That’s down from a stronger-than-expected tally of 261 thousand in October and would mark the weakest job growth since December 2020. 

JOB CUTS SURGE 127% IN NOVEMBER AS COMPANIES BRACE FOR ECONOMIC DOWNTURN

"Now hiring" sign is displayed on the front door of a Staples store in Manchester, N.H. AP © AP "Now hiring" sign is displayed on the front door of a Staples store in Manchester, N.H. AP

"The outlook has been fading for the job market after the strength seen earlier this year. That’s expected to be reflected in the November employment data," said Bankrate.com senior economic analyst Mark Hamrick. "After matching the pre-pandemic low of 3.5% in July and September, the jobless rate edged up to 3.7% in October. Further increases in the unemployment rate are likely in the unemployment rate in the months ahead, even if unchanged in the forthcoming November snapshot."

READ ON THE FOX BUSINESS APP

The unemployment rate is anticipated to hold steady at 3.7%.

TOM HANKS ANNOUNCES COFFEE LINE WITH 100% OF PROFITS GOING TO VETERANS

ASANA RESULTS: Shares are plunging 19% in premarket trading. The work management platform topped Wall Street estimates but lowered its fiscal 2023 forecast.

The company expects revenues of $541 million to $543 million, representing year-over-year growth of 43%. The previous forecast was for revenues of $544 million to $547 million, representing year-over-year growth of 44% to 45%.

Fiscal third quarter revenue rose 41% to $141.4 million.

The GAAP operating loss was $101.1 million, or 71% of revenues, compared to GAAP operating loss of $68.1 million, or 68% of revenues, in the third quarter of fiscal 2022.The non-GAAP net loss per share of $0.23, topping the estimate of a net loss of $0.32 per share.

The American electric vehicle EV infrastructure company ChargePoint Holdings logo is displayed on a smartphone screen. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) © (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) The American electric vehicle EV infrastructure company ChargePoint Holdings logo is displayed on a smartphone screen. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)

CHARGEPOINT RESULTS: Shares fell 2% in the extended trading after the electric-vehicle charging company missed Wall Street revenue estimates for its fiscal third quarter. 

Revenue rose 92.7% to $125.34 million from a year ago; analysts expected $132.12 million.

ChargePoint lost $84.5 million, or 25 cents a share, in the quarter, compared with $69.4 million, or 21 cents a share, in the year-ago quarter. 

The company reported a quarterly adjusted loss of 16 cents​​ per share for the quarter. The mean expectation for the quarter was for a loss of 19 cents per share.

The company guided for fiscal fourth-quarter revenue between $160 million and $170 million.

The FactSet analysts expect fourth-quarter revenue of $161 million.

For full fiscal 2023, ChargePoint guided for revenue between $475 million and $485 million. The street estimates full-year revenue of $483 million. 

FIRST TESLA SEMIS TO BE DELIVERED THURSDAY NIGHT, THREE YEARS LATE

TESLA LONG-HAUL: Tesla Chief Executive Elon Musk delivered the company's first heavy-duty Semi on Thursday to PepsiCo.

A view of the Tesla Semi electric truck during its live-streamed unveiling in Nevada, U.S. December 1, 2022. Tesla/Handout via REUTERS © Tesla/Handout via REUTERS A view of the Tesla Semi electric truck during its live-streamed unveiling in Nevada, U.S. December 1, 2022. Tesla/Handout via REUTERS

At the event, Musk said the battery-powered, long-haul truck would reduce highway emissions, outperform existing diesel models on power and safety and spin-off a fast-charging technology Tesla would use in its upcoming Cybertruck pickup.

PepsiCo, which used the truck to deliver snacks for those attending the Nevada launch event, had ordered 100 trucks in 2017, according to Reuters..

Brewer Anheuser-Busch, United Parcel Service and Walmart were among other companies that had reserved the Semi. 

UBER TECHNOLOGIES: The company isn’t looking at cutting jobs while competitors such as DoorDash and Lyft have, according to Chief Executive Officer Dara Khosrowshahi.

"No, we’re in a good place," Khosrowshahi told Bloomberg News Thursday after speaking at the Economic Club of Chicago, responding to a question about whether the ride-hailing giant will reduce headcount.

Uber has avoided widespread layoffs, though the CEO has said the company is taking more conservative stance on hiring and other investments.

In November, Uber reported third-quarter revenue jumped 72% to $8.34 billion,

AdChoices
AdChoices

More From FOX News

image beaconimage beaconimage beacon