Ma 29 jun. 2020, 15:18

Markt snapshot Wall Street voorbeurs

TOP NEWS
• Global coronavirus deaths top half a million
The death toll from COVID-19 surpassed half a million people on Sunday, according to a Reuters tally, a grim milestone for the global pandemic that seems to be resurgent in some countries even as other regions are still grappling with the first wave.
• Shale pioneer Chesapeake Energy files for bankruptcy
Chesapeake Energy filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets.
• Boeing 737 MAX certification flight tests to begin on Monday -sources
Pilots and test crew members from the U.S. Federal Aviation Administration and Boeing are slated to begin a three-day certification test campaign for the 737 MAX on Monday, people familiar with the matter told Reuters.
• KKR, Apollo among suitors for National Australia Bank's wealth unit -sources
KKR and Apollo Global Management are among potential buyers which have conducted due diligence on National Australia Bank's wealth management unit, three sources familiar with the matter told Reuters.
• BP sells petchems arm for $5 billion in energy transition revamp
BP has agreed to sell its global petrochemicals business to billionaire Jim Ratcliffe's Ineos for $5 billion, pulling out of a sector widely seen as a key driver of oil demand growth in the coming decades.​


BEFORE THE BELL
Wall Street futures were little changed as the relentless spread of the coronavirus curbed optimism on the global economy. European shares struggled for direction and Japan’s Nikkei sank. Gold prices rose on safe-haven bets, while the dollar fell against rival currencies. Oil prices rose. U.S. pending home sales data is due later in the day.​


STOCKS TO WATCH
Deals Of The Day
BP Plc (BP). The company has agreed to sell its global petrochemicals business to billionaire Jim Ratcliffe's Ineos for $5 billion, pulling out of a sector widely seen as a key driver of oil demand growth in the coming decades. The surprise move means BP has hit its $15 billion asset sales target a year ahead of schedule as CEO Bernard Looney prepares the company for a shift to low-carbon energy. Looney acknowledged that the sale of the business, which employs 1,700 people and produced 9.7 million tonnes of petrochemicals last year, "will come as a surprise".​

In Other News
• Amazon.com Inc
(AMZN). The Indian unit of the company has eliminated all single-use plastic in its packaging across fulfillment centers in the country, in line with its target to weed out the packaging material by June, the e-commerce giant said. Separately, Workers at six Amazon sites in Germany will go on strike in protest over safety after some staff at logistics centres tested positive for coronavirus, labour union Verdi said.
• American Airlines Group Inc (AAL). The company expects to have between 10% and 20% more workers than needed in July 2021, Chief Executive Doug Parker told employees at a town hall this week, and said that avoiding furloughs will be difficult. "It's going to be even harder than I thought," Parker said at an employee town hall on Wednesday, adding that "revenue is not coming back as fast as we'd like." "It really makes zero sense to go furlough a pilot in October if you're going to need that pilot again in July," Parker said, noting the costly training needed to bring a pilot back from a furlough.
• Andersons Inc (ANDE). CME Group, parent of the Chicago Board of Trade (CBOT), has ordered Andersons, an Ohio-based grain business, to pay a $2 million fine for violating futures trading rules in late 2017, the exchange said in a statement on Friday. The Andersons confirmed the settlement in a statement to Reuters and said it cooperated with the CME's investigation. "We do not believe we engaged in any wrongdoing," it said in the statement.
• Boeing Co (BA). Pilots and test crew members from the U.S. Federal Aviation Administration and Boeing are slated to begin a three-day certification test campaign for the 737 MAX, people familiar with the matter told Reuters. The FAA confirmed to U.S. lawmakers on Sunday that an agency board had completed a review of Boeing's safety system assessment for the 737 MAX "clearing the way for flight certification testing to begin. Flights with FAA test pilots could begin as early as Monday, evaluating Boeing’s proposed changes to the automated flight control system on the 737 MAX." After a preflight briefing over several hours, the crew will board a 737 MAX 7 outfitted with test equipment at Boeing Field near Seattle, one of the people said.
• Chesapeake Energy Corp (CHK). The company filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets. The filing marks an end of an era for the Oklahoma City-based shale pioneer, and comes after months of negotiations with creditors. "Despite having removed over $20 billion of leverage and financial commitments, we believe this restructuring is necessary for the long-term success and value creation of the business," Lawler said in a statement announcing the filing.​
• Coty Inc (COTY). The company has agreed to buy a 20% stake in reality TV star Kim Kardashian West's makeup brand KKW for $200 mln, the Financial Times reported, citing people familiar with the matter. The deal values West's cosmetics company at $1 billion, slightly lower than the $1.2 billion valuation Coty put on West's half sister Kylie Jenner's business, the report said.
• Delta Air Lines (DAL). The company said late on Friday it will soon send warning notices to about 2,500 pilots regarding possible furloughs at the airline, as the industry takes a huge blow after the coronavirus pandemic slashed air travel demand. "In an effort to best prepare our pilots should furloughs be needed, Delta will send required notices to approximately 2,500 pilots," a Delta spokesperson said, adding that the so-called 'WARN' notices will be sent next week. Delta also reached a tentative agreement with the Air Line Pilots Association (ALPA) labor union on a pilot-specific voluntary early retirement option.
• KKR & Co Inc (KKR) & Apollo Global Management Inc (APO). The two companies are among potential buyers which have conducted due diligence on National Australia Bank's wealth management unit, three sources familiar with the matter told Reuters. The sale of the unit, called MLC, could fetch more than $688 million, said two of the sources, who declined to be identified as the negotiations are private. Suitors are expected to submit bids for MLC by Tuesday, one of the sources said. A second source said the timeline for the sale was fluid.
• Pfizer Inc (PFE). The company filed a lawsuit on Friday seeking to require the federal government to let it help Medicare beneficiaries afford two drugs to treat a rare and sometimes fatal heart condition, and which cost $225,000 a year. The drugmaker said the U.S. Department of Health and Human Services' Office of Inspector General is blocking it from offering financial aid to patients unable to afford copayments for its Vyndaqel and Vyndamax drugs, because it views such aid as an illegal kickback.
• Starbucks Corp (SBUX). The company will pause advertising on all social media platforms as it explores the best ways to help stop the spread of hate speech, the company said in a statement on Sunday. The company will "have discussions internally and with media partners and civil rights organizations to stop the spread of hate speech," the statement said. A CNBC report on Sunday added that this social media pause by Starbucks will not include YouTube.
• Under Armour (UAA). The athletic apparel maker said on Saturday it will discontinue its partnership with UCLA - a 15-year, $280 million accord announced in 2016 that was billed as the largest apparel deal in the history of American collegiate sports. The University of California, Los Angeles promised to fight the move. The company said that it made the decision to terminate the agreement with UCLA because "we have been paying for marketing benefits that we have not received for an extended time period." The agreement with UCLA allowed the company to terminate the deal in such an event and it is exercising its right, Under Armour added.
• Walmart Inc (WMT). A shooting at a Walmart distribution center in Red Bluff, California, killed at least two people and injured four others late on Saturday, officials said. Tehama County's assistant sheriff said the attacker circled the center's parking lot four times before crashing his vehicle into the building and opening fire with a semi-automatic rifle. The shooter killed an employee before police officers shot and killed the attacker.
• Walt Disney Co (DIS). Workers at California's Disneyland Resort protested from their cars on Saturday, arguing that the company has not agreed to adequate protections for employees when the destination reopens to the public amid a pandemic. The company had planned to welcome guests back to Disneyland and neighboring California Adventure starting July 17 but delayed the restart date indefinitely. On Saturday, about 200 cars formed a caravan outside the resort in the protest staged by the Coalition of Resort Labor Unions, a group of 11 unions that represent 17,000 Disneyland workers. The unions have called on the company to commit to providing onsite testing for COVID-19.​


ANALYSIS
A cash cliff spells trouble for U.S. unemployed, and everyone else
Judith Ramirez is bracing for July. That's when the hotel housekeeper and her electrician husband - who have both been out of work for three months - expect their combined unemployment benefits to drop by more than half, and their deferred $1,500 monthly mortgage payment on their Honolulu home to come due. It's a cash cliff millions of Americans face this summer as the emergency benefits -- which lifted U.S. consumer incomes by a record 10.8% in April -- expire.


ANALYSTS' RECOMMENDATION
• BCB Bancorp Inc (BCBP). Piper Sandler cuts target price to $9.50 from $11, noting the risk of a downturn in economic performance or real estate markets in the company’s core operating footprint.
• Bristol-Myers Squibb Co (BMY). Cowen and Company cuts target price to $66 from $72, reflecting lower 2022-25 earnings per share estimates.
• Zogenix Inc (ZGNX). Mizuho cuts target price to $55 from $64, reflecting the lower-than-expected average list price of Fintepla.
• Zoominfo Technologies Inc (ZI). RBC initiates coverage with sector perform and target price of $50, believing the company offers the leading go-to-market intelligence database, as well as valuable surrounding data.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1000 Pending home sales index for May: Prior 69.0
1000 Pending home sales change mm for May: Expected 19.7%; Prior -21.8%​
1030 (approx.) Dallas Fed Manufacturing Business Index for Jun: Prior -49.20


COMPANIES REPORTING RESULTS
Micron Technology Inc (MU). Expected Q3 earnings of 77 cents per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0900 TransDigm Group Inc (TDG). Annual Shareholders Meeting
1000 Constellium SE (CSTM). Annual Shareholders Meeting
1100 Dell Technologies Inc (DELL). Annual Shareholders Meeting
1100 eBay Inc (EBAY). Annual Shareholders Meeting
1200 Eldorado Resorts Inc (ERI). Annual Shareholders Meeting
1630 Micron Technology Inc (MU). Q3 earnings conference call


EX-DIVIDENDS
Agilent Technologies Inc (A). Amount $0.18
AGNC Investment Corp (AGNC). Amount $0.12
Alexandria Real Estate Equities Inc (ARE). Amount $1.06
Amdocs Ltd (DOX). Amount $0.32
Ameris Bancorp (ABCB). Amount $0.15
Annaly Capital Management Inc (NLY). Amount $0.22
AvalonBay Communities Inc (AVB). Amount $1.59
B&G Foods Inc (BGS). Amount $0.47
BancFirst Corp (BANF). Amount $0.32
CoreSite Realty Corp (COR). Amount $1.22
Deere & Co (DE). Amount $0.76
Douglas Emmett Inc (DEI). Amount $0.28
Eastgroup Properties Inc (EGP). Amount $0.75
Fifth Third Bancorp (FITB). Amount $0.27
FMC Corp (FMC). Amount $0.44
Humana Inc (HUM). Amount $0.62
Illinois Tool Works Inc (ITW). Amount $1.07
Innovative Industrial Properties Inc (IIPR). Amount $1.06
Kennedy-Wilson Holdings Inc (KW). Amount $0.22
Kilroy Realty Corp (KRC). Amount $0.48
Lennox International Inc (LII). Amount $0.77
Mondelez International Inc (MDLZ). Amount $0.28
Monolithic Power Systems Inc (MPWR). Amount $0.50
National Fuel Gas Co (NFG). Amount $0.44
National Health Investors Inc (NHI). Amount $1.10
Nucor Corp (NUE). Amount $0.40
Owl Rock Capital Corp (ORCC). Amount $0.31
Paramount Group Inc (PGRE). Amount $0.10
Pioneer Natural Resources Co (PXD). Amount $0.55
Prospect Capital Corp (PSEC). Amount $0.06
Rexford Industrial Realty Inc (REXR). Amount $0.21
Safehold Inc (SAFE). Amount $0.16
Spirit Realty Capital Inc (SRC). Amount $0.62
STAG Industrial Inc (STAG). Amount $0.12
Steel Dynamics Inc (STLD). Amount $0.25
STORE Capital Corp (STOR). Amount $0.35
Stryker Corp (SYK). Amount $0.57
Sun Communities Inc (SUI). Amount $0.79
Terreno Realty Corp (TRNO). Amount $0.27
Thor Industries Inc (THO). Amount $0.40
Towne Bank (TOWN). Amount $0.18
Two Harbors Investment Corp (TWO). Amount $0.14
VEREIT Inc (VER). Amount $0.07
VICI Properties Inc (VICI). Amount $0.29
WP Carey Inc (WPC). Amount $1.04
Xerox Holdings Corp (XRX). Amount $0.25

Gisteren, 20:01

TA Morgan Stanley, S&P 500, Umicore, Montea en ASM Int.

Er zijn drie ver­zoeken bin­nengekomen. Ik ga ze alle­maal behan­de­len. Umi­core op ver­zoek van rvdv: Hoe zou ik zo’n vrien­delijk ver­zoek nou ooit kun­nen weigeren? Alle drie uw ver­zoeken komen dus voor­bij in de col­umn van van­daag. Umi­core zette een belan­grijke stap door de groene dal­ende trendlijn…

Lees verder »
Gisteren, 16:03

Marktcijfers

Actueel Verwacht Vorige
USA USA: ISM niet-verwerkende Industrie Index (juni) 16:00 50,8 50,8 49,9 Actueel: 50,8 Verwacht: 50,8 Vorige: 49,9
Gisteren, 15:47

Marktcijfers

Actueel Verwacht Vorige
USA USA: Diensten Inkoopmanagersindex (PMI) (juni) 15:45 52,9 53,1 53,1 Actueel: 52,9 Verwacht: 53,1 Vorige: 53,1
Gisteren, 14:33

Marktcijfers

Actueel Verwacht Vorige
USA USA: Gemiddeld Inkomen per Uur (Maandelijks) (juni) 14:30 0,2% 0,3% 0,4% Actueel: 0,2% Verwacht: 0,3% Vorige: 0,4%
USA USA: Eerste Aanvragen Werkloosheidsvergoeding 14:30 233K 240K 237K Actueel: 233K Verwacht: 240K Vorige: 237K
USA USA: Niet-agrarische Loonlijsten (juni) 14:30 147K 111K 144K Actueel: 147K Verwacht: 111K Vorige: 144K
USA USA: Werkloosheidscijfer (juni) 14:30 4,1% 4,3% 4,2% Actueel: 4,1% Verwacht: 4,3% Vorige: 4,2%
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