Liveblog Archief dinsdag 1 december 2020

TOP NEWS
• Pfizer-BioNTech seek EU emergency approval for COVID-19 vaccine, target December rollout
Pfizer and BioNTech's COVID-19 vaccine could be rolled out in Europe this month, the companies said after they applied for EU emergency approval for the shot.

• Amazon says sellers racked up more than $4.8 billion in sales over weekend
Amazon.com said independent businesses selling on its platform crossed $4.8 billion in worldwide sales from Black Friday through Cyber Monday, an increase of more than 60% from a year earlier.

• AdaptHealth to buy AeroCare Holdings for $2 billion
Medical equipment provider AdaptHealth said it was buying privately held AeroCare Holdings for $2 billion in cash and stock.

• Biden to introduce top economic advisers as pandemic threat worsens
U.S. President-elect Joe Biden will formally introduce his top economic policy advisers as his administration prepares to take power amid a slowing economic recovery hampered by the resurgent coronavirus pandemic.

• U.S. congressional hearing likely to spotlight Powell, Mnuchin split over pandemic lending
U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell appear together before a congressional panel in a hearing likely to highlight divisions over what more needs to be done in response to the COVID-19 pandemic.​


BEFORE THE BELL
U.S. stock futures rose, in line with world stocks, as optimism around a coronavirus vaccine strengthened the case for an economic recovery. A report showing robust growth in China's factory activity also boosted investors’ sentiment. Bets of more easing from the U.S. Fed weighed on the dollar, pushing the euro near three-month high, while gold rebounded. Oil prices seesawed, as OPEC+ delayed talks on output policy for next year, until Thursday.​


STOCKS TO WATCH
Results
• Zoom Video Communications Inc (ZM). The company warned on Monday its gross margins would remain under pressure going into 2021 as the surging number of free users of its video conferencing service makes it hard to offset a spike in costs to maintain its growth. "We expect gross margins to be consistent with Q3 into the next fiscal year before starting to improve towards our long-term target margin," Chief Financial Officer Kelly Steckelberg said. Zoom said it had 433,700 customers with more than 10 employees, a 485% increase from the year before but only a 17% increase from the fiscal second quarter, compared to the 40% growth rate between the company's first and second quarters. Slower sales to corporate customers could mean Zoom is losing out to established tech giants, said Ryan Koontz, analyst at Rosenblatt Securities. Zoom still forecast fourth-quarter revenue of between $806 million and $811 million, above estimates of $730.1 million, according to Refinitiv data. It forecast adjusted earnings of 77 cents to 79 cents per share, compared to estimates of 66 cents. Revenue for the third-quarter ended Oct. 31 surged 367% to $777.2 million, beating analysts' average estimate of about $694 million.​

Deals Of The Day• AdaptHealth Corp (AHCO). The medical equipment provider said it was buying privately held AeroCare Holdings for $2 billion in cash and stock. Following the deal, AdaptHealth Chief Executive Officer Luke McGee and his counterpart at AeroCare, Steve Griggs, will jointly lead the company as co-CEOs. AdaptHealth said it would pay $1.1 billion in cash and 31 million in its common shares. The company also raised its revenue forecast for fiscal year 2021 to a range of $2.05 billion to $2.20 billion from a range of $1.30 billion to $1.40 billion.
• AstraZeneca PLC (AZN). The company said it would sell rights to its erstwhile blockbuster cholesterol drug, Crestor, to German pharmaceutical company Gruenenthal GmbH for an upfront payment of $320 million as the British drugmaker focuses on its cancer treatments portfolio. The deal will give Gruenenthal rights to sell Crestor and associated medicines in more than 30 countries in Europe, except the UK and Spain, AstraZeneca said. AstraZeneca will continue to manufacture and supply the drug to Grünenthal during a transition period and will continue to sell it in other regions, including North America and China, it said. The deal is expected to close in the first quarter of 2021, AstraZeneca said, adding that Grünenthal could make milestone payments of up to $30 million.

• Northern Genesis Acquisition Corp (NGA). Lion Electric said on Monday it would go public through a merger with the blank-check company, as it aims to ramp up production capacity to tap growing demand for electric vehicles.Lion Electric, mainly known for its yellow electric school buses, expects to receive about $500 million of net cash proceeds from the deal. The company said proceeds from the deal would be used to expand its U.S. manufacturing capacity, develop advanced battery systems and construct a battery-system assembly factory. The deal, likely to close in the first quarter of 2021, is expected to create a company with a market value of about $1.9 billion.

Moves
• Credit Suisse Group AG (CS). The company said it has proposed outgoing Lloyds Banking Group Chief Executive Officer António Horta-Osório as its candidate to succeed Urs Rohner as chairman after the latter's nearly 10 years in the job."António Horta-Osório shall succeed Urs Rohner who will step down in 2021 as previously announced upon reaching the statutory term of 12 years," Switzerland's second-biggest bank said in a statement, referring to Rohner's boardroom stint, first as vice-chairman and since 2011 as chairman. Despite a largely successful turnaround of Credit Suisse during his time, the previously expected departure of Rohner, born in 1959, comes with the bank under the cloud of an ongoing regulatory probe into an internal spying scandal.

• Tellurian Inc (TELL). The company said late on Monday that president and chief executive Meg Gentle is leaving the company and will be succeeded by Octavio Simoes, previously executive vice president of LNG Marketing and Business Development. Tellurian announced the changes in a statement without saying why Gentle, who has been with Tellurian since August 2016, is leaving. Gentle could not immediately be contacted for comment.Simoes joined Tellurian in 2019 as senior advisor to the chief executive and was previously chief executive and president of Sempra LNG & Midstream, where he was responsible for all LNG and natural gas midstream activities, according to an earlier statement.

In Other News
• Alphabet Inc (GOOGL) & Facebook Inc (FB). Canada plans to impose a tax on corporations providing digital services from 2022 that will stay in place until major nations come up with a coordinated approach on taxation, the Finance Department said on Monday. The Organisation for Economic Cooperation and Development is working on a common approach to ensure digital behemoths, such as Alphabet's Google and Facebook, pay their share of taxes as the coronavirus hammers budgets. The new tax would come into effect on Jan. 1, 2022, and remain in place until a common approach is agreed upon. The measure would raise federal revenues by C$3.4 billion ($2.6 billion) over five years, starting in the 2021-22 fiscal year.

• Amazon.com Inc (AMZN) & Apple Inc (AAPL). The company said independent businesses selling on its platform crossed $4.8 billion in worldwide sales from Black Friday through Cyber Monday, an increase of more than 60% from a year earlier.In its first indication of performance for the year's peak online shopping days, Amazon said more than 71,000 small- and medium-sized businesses worldwide had surpassed $100,000 in sales this holiday season to date. The company did not, however, give a breakdown of U.S. sales, or its own numbers for the weekend, nor for either of the two big shopping days, saying only that the holiday season overall had been its biggest ever. The robust performance comes despite nearly two months of offers since Amazon held its Prime Day sales event in October, with retailers seeking to recoup business lost during this year's coronavirus-driven closures of malls and stores. Meanwhile, the company will run Apple's macOS on its cloud service for the first time, allowing app developers for Apple's devices to access the operating system on demand, the company's cloud unit Amazon Web Services said on Monday.

• BioNTech SE (BNTX) & Pfizer Inc (PFE). The companies' COVID-19 vaccine could be rolled out in Europe this month, the companies said after they applied for EU emergency approval for the shot.The application to the European Medicines Agency (EMA) comes days after the companies applied for emergency use of their vaccine in the United States. They said their candidate, BNT162b2, could be launched in the European Union this month."If EMA concludes that the benefits of the vaccine candidate outweigh its risks in protecting against COVID-19, it will recommend granting a CMA (conditional marketing authorization)that could potentially enable use of BNT162b2 in Europe before the end of 2020," they said in a joint statement.

• Deutsche Bank AG (DB). The company is planning to cut one in three jobs at its retail banking hubs in Frankfurt and Bonn as part of its efforts to cut costs and restore profitability, according to a letter to staff seen by Reuters."We will only make our private customer business in Germany profitable and sustainable if we continue to reduce costs significantly. To achieve this, we will have to take further measures", the letter signed by Deutsche Bank board member Karl von Rohr said. The 350 redundancies affecting mainly the Postbank retail banking arm will be made by the end of 2022 and will be carried out in the most socially acceptable way possible, the letter said.

• Exxon Mobil Corp (XOM). The company on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion, its biggest ever impairment, and slash project spending next year to its lowest level in 15 years.The writedown lays bare the size of the miscalculation that the company made in 2010 when it paid $30 billion for U.S. shale producer XTO Energy as natural gas prices went into a decade-long decline. The writedown also includes properties in Argentina and western Canada. While smaller than the up to $30 billion charge the company forecast a month ago, the quarterly charge to earnings reflects the company's recent reduction in its outlook for oil and gas prices.The impairment charge "further worsens the company's already substantial jump in financial leverage," said Pete Speer, senior analyst at Moody's Investors Service. "With this charge added to the big rise in debt this year, we see ExxonMobil’s debt/capitalization rising to nearly 30%, from just over 20% at the start of 2020." Next year's spending will fall, to between $16 billion to $19 billion, but Exxon could increase spending by 2025 to more than this year's about $23 billion level, Woods said.

• General Motors Co (GM). The company which has long struggled with labour relations in South Korea, will have to renegotiate a preliminary labour deal after a majority of union members voted against it.Only about 45% of members were in favour of an agreement reached with union negotiators last week for each member to receive a lump sum payment of 4 million won by early 2021, a union official said.The union stepped up demands this year as wages have been frozen since 2018, when the U.S. automaker received a state-backed rescue package to stay in the country.

• Rio Tinto Ltd (RIO). The company said that it would not offer any comment in response to a threat of legal action from the largest minority shareholder in its Mongolian copper project Oyu Tolgoi.Rio Tinto operates what is slated to become the world's third-largest copper mine which is jointly owned by the Mongolian government and Canada's Turquoise Hill Resources, in which Rio owns a 50.8% stake. Activist investor Pentwater Capital Management holds a 9.23% stake in Turquoise Hill and is its largest minority investor. In a letter to the Australian exchange on Monday, Pentwater Chief Executive Matthew C. Halbower accused Rio of mismanaging costs, and then unfairly restricting Turquoise Hill's ability to obtain finance to pay for those costs.

• Royal Dutch Shell PLC (RDSa). Environmental activists took the company to court, as they demand the energy firm drastically reduces the production of oil and gas to limit its effects on climate change.Seven activist groups, including Greenpeace and Friends of the Earth Netherlands, filed the lawsuit in the Netherlands in April last year on behalf of more than 17,000 Dutch citizens who say the oil major is threatening human rights as it continues to invest billions in the production of fossil fuels.They demand that Shell cuts its greenhouse gas emissions almost in half by 2030 and to zero by 2050 - which would effectively force the Anglo-Dutch firm to quickly move away from oil and gas and direct its investments to sustainable sources of energy. "What will accelerate the energy transition is effective policy, investment in technology and changing customer behaviour. None of which will be achieved with this court action", the company said.

• Tesla Inc (TSLA). The company's shares jumped 4% in extended trade on Monday after S&P Dow Jones Indices said it would add one of Wall Street's most valuable companies to the S&P 500 index all at once on Dec. 21. Adding Elon Musk's Tesla to Wall Street's most followed benchmark will force index funds to buy about $73 billion worth of its shares, S&P Dow Jones Indices said.The company's stock has surged over 40% since Nov. 16, when it was announced Tesla would join the index. "In its decision, S&P DJI considered the wide range of responses it received, as well as, among other factors, the expected liquidity of Tesla and the market’s ability to accommodate significant trading volumes on this date," S&P Dow Jones Indices said. With a stock market value around $550 billion, Tesla will be among the most valuable companies ever added to the index. Tesla will account for just over 1% of the S&P 500.


SPECIAL REPORT
U.S. air monitors routinely miss pollution - even refinery explosions
When a Philadelphia oil refinery exploded in 2019, it sent tons of toxic pollution into the surrounding community. But the U.S. EPA air monitor nearby recorded none of it. The nationwide pollution-detection network often doesn't work because of low funding and industry pressure that ensures the air monitors are sparsely deployed, often in spots least likely to record pollution.​


ANALYSTS' RECOMMENDATION
• Appian Corp (APPN). Barclays cuts to underweight from equal weight, expecting the company’s shares to derate, as it believes stocks rallied in November primarily due to technical factors, rather than a change in fundamental narrative.

• Biogen Inc (BIIB). RBC raises target price to $256 from $249, believing that the company’s deal with Sage adds much needed late-stage pipeline optionality and diversification beyond Aducanumab that could incrementally help investor confidence.

• IHS Markit Ltd (INFO). RBC cuts rating to sector perform from outperform, after the company and S&P Global announced a definitive agreement to merge in all-stock transaction.

• Lazard Ltd (LAZ). KBW raises target price to $44 from $40, citing the company’s higher asset management, advisory and equity capital market (ECM) revenues.

• ​Walker & Dunlop Inc (WD). KBW raises target price to $80 from $64, to reflect lower credit loss provisions and strong multifamily rent collections.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0945 Markit Manufacturing PMI Final for Nov: Prior 56.7
1000 (approx.) Construction spending mm for Oct: Expected 0.8%; Prior 0.3%
1000 ISM Manufacturing PMI for Nov: Expected 58.0; Prior 59.3
1000 ISM Manufacturing Prices Paid for Nov: Expected 65.0; Prior 65.5
1000 ISM Manufacturing Employment Index for Nov: Prior 53.2
1000 ISM Manufacturing New Orders Index for Nov: Prior 67.9
1030 (approx.) Texas Service Sector Outlook for Nov: Prior 13.2
1030 (approx.) Dallas Fed Services Revenues for Nov: Prior 7.1


COMPANIES REPORTING RESULTS
Hewlett Packard Enterprise Co (HPE). Expected Q4 earnings of 34 cents per share
NetApp Inc (NTAP). Expected Q2 earnings of 73 cents per share
Salesforce.Com Inc (CRM). Expected Q3 earnings of 75 cents per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
1100 Golub Capital BDC Inc (GBDC). Q4 earnings conference call
1630 Veeva Systems Inc (VEEV). Q3 earnings conference call
1630 At Home Group Inc (HOME). Q3 earnings conference call
1700 NetApp Inc (NTAP). Q2 earnings conference call
1700 Salesforce.Com Inc (CRM). Q3 earnings conference call
1700 Box Inc (BOX). Q3 earnings conference call
1700 Hewlett Packard Enterprise Co (HPE). Q4 earnings conference call
1700 Root Inc (ROOT). Q3 earnings conference call


EX-DIVIDENDS
Avery Dennison Corp (AVY). Amount $0.62
Avnet Inc (AVT). Amount $0.21
Commerce Bancshares Inc (CBSH). Amount $0.27
Costco Wholesale Corp (COST). Amount $10.0
Electronic Arts Inc (EA). Amount $0.17
EnPro Industries Inc (NPO). Amount $0.26
Fastenal Co (FAST). Amount $0.40
Goldman Sachs Group Inc (GS). Amount $1.25
Houlihan Lokey Inc (HLI). Amount $0.33
Jack Henry & Associates Inc (JKHY). Amount $0.43
Jack in the Box Inc (JACK). Amount $0.40
La-Z-Boy Inc (LZB). Amount $0.14
New Fortress Energy Inc (NFE). Amount $0.10
Old Dominion Freight Line Inc (ODFL). Amount $0.15
PJT Partners Inc (PJT). Amount $0.05
Principal Financial Group Inc (PFG). Amount $0.56
Schlumberger NV (SLB). Amount $0.12
Vertiv Holdings Co (VRT). Amount $0.01

Goedemorgen
De markt blijft zich vreemd gedragen, ook gisteren hebben we kunnen zien dat als er een draai komt die heel snel gaat en met kracht. Aan de andere kant komt er koop paniek op een onverklaarbare manier want de manier waarop dips worden gekocht is een gevaarlijke aangezien de verhouding 2,5 op 1 is zoals ik gisteren heb uitgelegd in de ledenupdate. Dat wil zeggen dat er bij een draai slechts 1 aandeel omhoog gaat tegen 2,5 dalers daar tegenover. Het volume lag op 56% bij de stijgers en 44% bij de dalers.

Dat zijn getallen die je amper ziet en geven heel vaak aan dat het einde zich aankondigt. Door het grote volume samen met de minderheid wat betreft de keuze wil dat zeggen dat men de toppers die al zeer hoog staan en met een torenhoge waardering zitten kiest.

Gisteren dus veel divergenties en zelfs tijdens de sessie hebben we de nodige sprongen gezien tussen sectoren en regio's. Vooral Europa viel op met een late draai omlaag, Wall Street daarentegen liet een stevige draai bij de Nasdaq zien van laag naar omhoog. De Dow Jones moest tot 450 punten inleveren maar herpakt zich ook behoorlijk richting het slot en we zien vanmorgen via de futures dat alles weer rond de slotstand van vrijdag uitkomt (Dow Jones). De SP 500 en de Nasdaq staan op record niveau's als we naar de futures kijken. Het blijft vreemd in deze tijden waar onzekerheden rondom de economie meer en meer duidelijk worden ... Normaals, blijf opletten, deze markt stinkt en staat klaar om een diepe duik omlaag te maken ...

U kunt mij en dus @USMarkets uiteraard ook volgen via onze Twitter account, ga naar ... https://twitter.com/USMarkets waar ik tussentijds wat charts over de markt en sentiment plaats, ook opvallende beursfeiten komen er vaak langs !

Euro, olie en goud:
De euro zien we nu rond de 1.197 dollar, de prijs van een vat Brent olie staat op 47,5 dollar terwijl een troy ounce goud nu terugvalt tot 1790 dollar.

Maak nu gebruik van de aanbieding op US Markets Trading:
Denk eraan, ik sta hoe dan ook klaar om me te herpakken in 2021 wat mijn jaar zal worden wat betreft Trading, lid worden is dus belangrijk om alles optimaal te volgen.

Doe nu mee via de proef aanbieding voor €39 tot 1 FEBRUARI. Dan pakt u december mee en de start van 2021 meteen ook. Polleke Trading is dan €49 ... Schrijf u vandaag nog in via de link https://www.usmarkets.nl/tradershop en dan staat u meteen op de lijst, en ontvangt u de updates en signalen meteen !!

Met vriendelijke groet,
Guy Boscart

GLOBAL TOP NEWS
U.S. President-elect Joe Biden named several women to his top economic policy team on Monday, including former Federal Reserve Chair Janet Yellen as Treasury secretary nominee, setting the stage for diversity and a focus on recovery from the pandemic.

Moderna said on Monday it has applied for U.S. emergency authorization for its COVID-19 vaccine after full results from a late-stage study showed it was 94.1% effective with no serious safety concerns.

Asian factories continued to recover steadily in November thanks to a boom in economic powerhouse China, private surveys showed, offering hope the region was shaking off the drag from the COVID-19 crisis.


EUROPEAN COMPANY NEWS
Italy's UniCredit said Chief Executive Officer Jean Pierre Mustier would step down at the end of his mandate in April next year after clashing with the bank's board over strategy.

British tycoon Philip Green's Arcadia fashion group has collapsed into administration, putting over 13,000 jobs at risk and becoming the country's biggest corporate casualty of the COVID-19 pandemic so far.

A federal judge has rejected Bayer's proposed $648 million settlement of class-action litigation by cities and other claimants over contamination from polychlorinated biphenyls, or PCBs, made by the former Monsanto.


TODAY'S COMPANY ANNOUNCEMENTS
Blackrock Greater Europe Investment Trust PLC Annual Shareholders Meeting
Claranova SA Shareholders Meeting
Isra Vision Parsytec AG Annual Shareholders Meeting
Navios Maritime Acquisition Corp Q3 2020 Earnings Call
STV Group PLC Shareholders Meeting
Zumtobel Group AG HY 2021 Earnings Release


ECONOMIC EVENTS (All times GMT)
0645 Switzerland GDP qq for Q3: Expected 5.9%; Prior -7.3%
0645 Switzerland GDP yy for Q3: Expected -3.3%; Prior -8.3%
0700 United Kingdom Nationwide house price mm for Nov: Expected 0.3%; Prior 0.8%
0700 United Kingdom Nationwide house price yy for Nov: Expected 5.5%; Prior 5.8%
0730 (approx.) Sweden PMI Manufacturing Sector for Nov: Prior 58.2
0800 (approx.) Netherlands PMI - Manufacturing for Nov: Prior 50.4
0800 (approx.) Austria Unemployment for Nov: Prior 358,400
0800 (approx.) Austria Unemployment Rate for Nov: Prior 8.7%
0815 Spain Manufacturing PMI for Nov: Expected 50.5; Prior 52.5
0830 Switzerland Manufacturing PMI for Nov: Expected 51.3; Prior 52.3
0845 Italy Markit/IHS Manufacturing PMI for Nov: Expected 52.0; Prior 53.8
0850 France Markit Manufacturing PMI for Nov: Expected 49.1; Prior 49.1
0855 Germany Markit/BME Manufacturing PMI for Nov: Expected 57.9; Prior 57.9
0855 Germany Unemployment Change SA for Nov: Expected 8,000; Prior -35,000
0855 Germany Unemployment Total NSA for Nov: 2.760 mln
0855 Germany Unemployment Rate SA for Nov: Expected 6.3%; Prior 6.2%
0855 Germany Unemployment Total SA for Nov: Prior 2.863 mln
0900 Italy GDP Final qq for Q3: Expected 16.1%; Prior 16.1%
0900 Italy GDP Final yy for Q3: Expected -4.7%; Prior -4.7%
0900 (approx.) Spain Car Registration mm for Nov: Prior 4.9%
0900 (approx.) Spain Car Registration yy for Nov: Prior -21.0%
0900 Euro Zone Markit Manufacturing Final PMI for Nov: Expected 53.6; Prior 53.6
0930 United Kingdom Markit/CIPS Manufacturing PMI Final for Nov: Expected 55.2; Prior 55.2
1000 Euro Zone HICP Flash yy for Nov: Expected -0.2%; Prior -0.3%
1000 Euro Zone HICP-X F&E Flash yy for Nov: Expected 0.4%; Prior 0.4%
1000 Euro Zone HICP-X F,E,A&T Flash yy for Nov: Expected 0.2%; Prior 0.2%
1000 (approx.) Euro Zone HICP-X F, E, A, T Flash mm for Nov: Prior 0.10%
1000 (approx.) Euro Zone CPI NSA for Nov: Prior 105.15