Today on Wall Street: Alibaba, Bristol-Myers Squibb, T-Mobile US…
|11/05/2020 | 10:47am|
Another session largely dominated by company results, particularly in Europe, with around fifty companies included in the Stoxx Europe 600 index. In the rest of the news, Jeff Bezos is selling a large batch of Amazon shares.
Earnings season. Alibaba, Bristol-Myers Squibb, T-Mobile US, AstraZeneca, Linde, Enel, Zoetis, Cigna, Nintendo, Uber, Barrick Gold, Electronic Arts, ING Groep, Suzuki, Siemens Gamesa, Legrand and ArcelorMittal are among companies posting their results today.
A few results:
- AstraZeneca: Q3 net profit reaches USD 0.94, compared to the consensus of USD 1.
- Commerzbank: Results are a bit short compared to expectations.
- Deutsche Lufthansa: the German airline confirmed its cash target for 2021, while the net loss for the third quarter flirts with €2 billion.
- Expedia: the online tour operator posted a quarterly loss, the third in a row, the market welcomed the figures with a 6% increase in the share price outside of the trading session.
- HeidelbergCement: the German cement manufacturer improved its Q3 results and is targeting improved performance this year.
- ING Groep posted pre-tax profit of €1.2 billion, slightly below expectations, and announced a plan to cut 1,000 jobs.
- MetLife: results are close to expectations, but are not exciting the crowds.
- Nintendo: the group is raising its forecast, which was expected, but less than analysts expected.
- Qualcomm : the results are attractive to investors, with a stock jumping 14% after the session.
- Solvay: net profit fell 42% in Q3 to €176 million, due to difficulties in industrial sectors such as aerospace and automotive. Forecasts are confirmed, but could be jeopardized by the return of the pandemic.
- Unicredit: Like most other European banks, the Italian bank published better-than-expected results in Q3.
In other news:
- Vale is negotiating the sale of its nickel plant in New Caledonia to a consortium including Trafigura, investment funds and local stakeholders.
- Jeff Bezos sold another $3 billion of Amazon.com shares this week, bringing his 2020 sales to more than $10 billion.
- Biogen closed up 44% yesterday on Wall Street, after the US drug agency suggested its Alzheimer's treatment had a good chance of being approved. The stock of its Japanese partner Eisai was incoherent for part of the session.
- According to information from Bloomberg, Apple faces problems with the supply of components for its iPhone 12.
Investors are getting more jittery
Decisive week for investors
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