GLOBAL MARKETS LIVE: Microsoft, Deutsche Bank, Sony…

10/28/2020 | 10:16am

The news is still very busy on the corporate side, as the earnings season is in full swing, with Microsoft, AMD, Sony and Deutsche Bank. Financial operations continue, with the acquisition of Xilinx by AMD, the return to the negotiating table of Tiffany and LVMH, and the strengthening of ties between Daimler and Aston Martin.

 

Earnings season. Visa, Mastercard, United Parcel Service, Amgen, Sony, The Boeing Company, GlaxoSmithKline, Anthem, Gilead, General Electric, Orsted, Vale, BASF, Adyen, Heineken, Peugeot, Carrefour, Suez and GTT are among companies reporting their results today.

A few results:

  • Advanced Micro Devices: results exceed expectations, but it is above all the announcement of the friendly, share-based buyout of competitor Xilinx for $35 billion that focuses the attention of investors.
  • Bankia: the Spanish bank recorded a sharp decline in Q3 results due to an increased bad debt provision.
  • Carlsberg: the brewer's Q3 sales exceeded expectations, enabling the company to raise its annual projections.
  • Deutsche Bank: Third quarter results were better than expected, with a return to profits after losses a year earlier.
  • Microsoft: The group exceeded expectations in the third quarter, with solid figures, although the stock lost some ground after the close because the market is demanding.
  • Orsted: the Danish renewable energy specialist has, seasonally, exceeded the expected targets. Results are down, but less than expected.
  • Puma: Revenues rebounded in the third quarter, with operating income increasing even faster to €190 million, compared to the consensus expectation of €174 million.
  • Sony: the Japanese electronics giant raised its annual forecast.

In other news:

  • LVMH and Tiffany have resumed negotiations to save their merger, based on a price that could decline to between $130 and $133 per share of the American jeweler, according to corroborating sources.
  • Google, Twitter and Facebook are today on the grill of the U.S. Senate Commerce Committee, which is wondering how to limit the omnipotence of the digital giants.
  • TikTok and Shopify sign a partnership in online commerce.
  • Daimler strengthens its technological partnership with Aston Martin, which could lead it to hold up to 20% of the capital of the British company.
  • The acquisition of Plaid by Visa is allegedly in the sights of the American competition authorities.
  • Sony expects very strong demand for its PlayStation 5, which will be launched on November 12.
  • EQT Corporation acquired the Appalachian Basin assets from Chevron Corporation for $735 million.
Romain Fournier
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