A daily market update from FS Insight — what you need to know ahead of opening bell

“We have not yet seen the predicted flood in misinformation. We still might.” — Sam Altman, OpenAI CEO

Overnight

Sweden becomes second major central bank to cut rates (MW)

Top E.U. diplomats agreed Wednesday to use windfall profits from frozen Russian assets to arm Ukraine (Semafor)

After 3+ billion dozes and an estimated 6 million lives saved, AstraZeneca withdraws its COVID-19 vaccine, citing low demand (Semafor)

Google DeepMind’s latest AI model poised to revolutionize drug discovery (TIME)

Uber fell ~6% after reporting an unexpected net loss due to equity markdowns (CNBC

Airbnb beat on Q1 top and bottom lines but gave weaker-than-expected guidance despite expectations of robust travel demand causing shares to fall ~8% (CNBC

Shopify plunged ~19% despite better-than-expected Q1 earnings and revenue due to sales guidance that represented a slowdown in growth (CNBC

Robinhood rose ~4% after beating Q1 earnings and revenue estimates driven by the recent stock and crypto rally (CNBC

Toyota smashed Q4 earnings estimates on booming hybrid demand but forecast a 20% FY profit decline citing looming in...

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