GLOBAL MARKETS LIVE: Washington vs Beijing, Farfetch beats expectations…
|11/13/2020 | 09:50am|
To end the week, Farfetch, Disney and Cisco publish good results for the third quarter. Cellnex continues its acquisitions, while Washington is launching a new offensive against Chinese companies.
A few results:
- Cisco: Quarterly results reassured investors, as the company benefited from the rise of work-from-home. On an adjusted basis, earnings per share were 76 cents, well above the consensus of 70 cents.
- The Walt Disney Company: the market is reassured by its quarterly results, boosted by the good performance of its streaming video business. This did not prevent the company from posting losses in the last quarter, but less than expected.
- Farfetch, the online fashion and luxury goods retailer, posted sales of $438 million for the period, a 71% year-over-year increase, and an adjusted loss per share of 17 cents, well above the average analyst expectation of -40 cents.
- 3M reported sales up 3% year-on-year to $2.9 billion, with revenues increasing by 3% in the Asia-Pacific region and by 2% in the EMEA (Europe, Middle East and Africa) region and in the Americas.
In other news:
- Who will stop Cellnex? The Spanish star of base stations will acquire the dedicated European division of CK Hutchison for €10 billion, including €8.6 billion in cash.
- Xi Jinping is said to have intervened in person to block the IPO of Ant (Alibaba), reports the Wall Street Journal.
- The United States prohibits American investors from being present in the capital of companies controlled by or related to the Chinese army, which causes certain shares to sink, like China Mobile this morning.
- The United States gives TikTok a deadline to negotiate its sale.
- Implenia signs several contracts in Germany.
- NTT will place $4.7 billion in bonds to finance the acquisition of Docomo.
- S&P downgrades ABB Ltd.'s credit rating from "A" to "A-".
- Givaudan signed a partnership with Novozymes to develop innovative ingredients and technologies.
- Allianz Care, CSS, Visana and Zur Rose launch a global digital healthcare platform.
© MarketScreener.com 2021
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