Liveblog Archief dinsdag 22 september 2020

TOP NEWS
• Elon Musk expected to use Tesla 'Battery Day' to argue for the end of combustion engines
Tesla CEO Elon Musk is scheduled to showcase the company's advanced battery technology, with investors expecting he will outline how the company's electric vehicles will surpass the cost and convenience of internal combustion engines.
• Fed chief Powell slated for first of week's three congressional appearances
U.S. Federal Reserve Chair Jerome Powell makes the first of three appearances on Capitol Hill this week to address lawmakers' questions and concerns about the raft of emergency measures the central bank has taken to blunt the hit to the economy delivered by the coronavirus pandemic.
• Intel gets U.S. licences to supply some products to Huawei
Intel has received licences from U.S. authorities to continue supplying certain products to Huawei Technologies, an Intel spokesman said.
• Trump to meet state attorneys general to discuss key U.S. tech liability shield
U.S. President Donald Trump plans to meet on Wednesday with a group of Republican state attorneys general about revising a key law that shields social media companies from liability for content posted by their users and allows them to remove lawful but objectionable posts.
• U.S. and UAE eye December goal to agree on F-35 deal -sources
The United States and the United Arab Emirates hope to have an initial agreement on the sale of F-35 stealth fighter jets to the Gulf state in place by December, as the Trump administration studies how to structure a deal without running afoul of Israel.


BEFORE THE BELL
Futures tracking the S&P 500 and the Nasdaq indexes rebounded with beaten down technology-related stocks leading early gains, while Dow futures were lower. Europe's stock markets clawed back some ground after a sell-off in the previous session, while Asian shares ended lower. The dollar erased gains against a basket of major currencies. Oil prices rose as analysts took the view renewed lockdown restrictions would have only a limited impact on fuel demand. Spot gold fell, with investors doubting over additional stimulus measures to aid the coronavirus-hit economy ahead of speeches from Federal Reserve officials this week. Data on existing home sales is due later in the day.


STOCKS TO WATCH
IPO
• Huazhu Group Ltd (HTHT). Shares of the Chinese franchised hotel operator traded as high as 5.1% above its Hong Kong listing offer price, bucking the negative sentiment across Asian equities markets. The stock rose as high as to HK$312 after it opened at HK$305 each in their Hong Kong debut. The shares last traded at HK$311, still up 4.7% from their offer price of HK$297 each. Huazhu Group offered 20.4 million shares, raising HK$6.06 billion in its secondary offering in Hong Kong to fund expansion of its hotel network, upgrade its technology platform and pay down debt.

In Other News
• Boeing Co (BA). The U.S. aviation regulator should require new cockpit procedures for the company’s 737 MAX to help pilots disable an erroneous stall alert that could be a serious distraction during mid-flight emergencies, major pilots unions said on Monday. The proposal about an erroneous "stick shaker" alert is among recommendations the Air Line Pilots Association (ALPA) and the Allied Pilots Association submitted during a 45-day public comment period for proposed 737 MAX design and operating changes laid out last month by the U.S. Federal Aviation Administration (FAA).
• Comcast Corp (CMCSA). Activist investor Trian Fund Management has taken a stake in the company in a bet that the media company's stock is undervalued, a regulatory filing on Monday showed. The investor has taken a stake of 7.16 million shares, the filing said, adding that the change in holdings are as of June 30.
• Deutsche Bank AG (DB). The bank plans to shutter one in five branches in its home market in Germany as it seeks to save costs and capitalise on the changing habits of customers during the coronavirus pandemic, an executive said. Philipp Gossow, who oversees the retail banking business in Germany, told Reuters that the reduction to some 400 branches from around 500 currently would occur primarily in urban locations and take place "as quickly as possible". Separately, the bank is working hard to prepare for a wave of mergers in the banking sector, its finance chief said, signalling a potential change in tone at Germany's biggest bank which has been focusing mainly on its turnaround.
• Intel Corp (INTC). The company has received licences from U.S. authorities to continue supplying certain products to Huawei Technologies, an spokesman said. The person, declining to be identified as they were not authorised to speak to media, said non-U.S. firms may not have a high chance of getting U.S. approval, and chipmakers are drafting contingency plans to increase supplies to other customers.
• Nvidia Corp (NVDA). Britain is assessing the impact of the sale of chip designer Arm to the U.S. company, including commitments to keep its head office and staff in Cambridge, Eastern England, digital minister Caroline Dinenage said. "We are currently working very hard to understand the full impact of this move and what potential impact it may have on the future, and from there we are able to consider what steps we may wish to take," she told lawmakers.
• Tesla Inc (TSLA). The company’s CEO Elon Musk is scheduled to showcase the company's advanced battery technology, with investors expecting he will outline how the company's electric vehicles will surpass the cost and convenience of internal combustion engines. As automakers shift from horsepower to kilowatts to comply with stricter environmental regulations, investors are looking for evidence that Tesla can increase its lead in electrification technology over legacy automakers who generate most of their sales and profits from gasoline-powered vehicles. Separately, Musk warned about the difficulties of speeding up production as an expert cautioned the carmaker's increased reliance on large-scale aluminium parts could bring new manufacturing challenges.
• Tiffany & Co (TIF). A U.S. court on Monday fast-tracked the company's lawsuit against LVMH for trying to back out of its $16 billion deal to acquire the jeweler. Delaware Chancery Court Vice Chancellor Joseph Slights said he would set a four-day trial beginning Jan. 5, 2021, which is after the Nov. 24 "drop-dead" date for the biggest luxury merger deal to close but before antitrust approvals begin to expire. Slights said he hoped both Tiffany and LVMH could have "productive discussions to avoid the need for litigation," referring to a potential settlement.
• ZTO Express (Cayman) Inc (ZTO). The Chinese delivery group has indicated its shares will be priced at HK$218 each as it raises up to $1.27 billion in its Hong Kong listing, according to two sources with direct knowledge of the matter. The final pricing will be set later on Tuesday as the company sells 45 million shares. The indicative guidance is 1.92% below the stock's closing price on Monday in New York of $28.68.


Thomson Reuters/INSEAD Asian Business Sentiment 2020Q3
Thomson Reuters and graduate business school INSEAD ask Asia-Pacific companies to rate their business outlook for the next six months in a survey which in Q2 yielded a negative sentiment index of 35. The latest survey will be released at 0300 GMT on Wednesday.


ANALYSIS
TikTok's promise of 25,000 new U.S. jobs sets lofty goal
Even as dealmakers bicker over who will actually own TikTok Global, another question emerged after President Donald Trump agreed over the weekend to keep the wildly popular video-sharing app running in the United States for another week: how can they possibly create 25,000 new jobs in the United States?


ANALYSTS' RECOMMENDATION
• Accenture Plc (CAN). Cowen and Company raises price target to $240 from $225, based on the company’s leading scale, strong position in digital businesses and a solid financial position.
• Allstate Corp (ALL). KBW raises price target to $108 from $107, factoring the company’s announcement of accelerated share repurchase program.
• CBTX Inc (CBTX). KBW raises rating to outperform from market perform, citing the company’s declining deferrals and resumption of share repurchase program.
• Cigna Corp (CI). Piper Sandler cuts target price to $193 from $240, to reflect near term drug pricing regulation.
• Illumina Inc (ILMN). Canaccord Genuity cuts target price to $300 from $350, after the company announced an $8B deal to acquire private liquid biopsy screening company GRAIL.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1000 Existing home sales for Aug: Expected 6.00 mln; Prior 5.86 mln
1000 Existing home sales percentage change for Aug: Expected 2.4%; Prior 24.7%
1000 (approx.) Rich Fed Composite Index for Sep: Prior 18
1000 (approx.) Rich Fed Services Index for Sep: Prior 2
1000 (approx.) Rich Fed Manufacturing Shipments for Sep: Prior 22


COMPANIES REPORTING RESULTS
Nike Inc (NKE). Expected Q1 earnings of 47 cents per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0930 General Mills Inc (GIS). Annual Shareholders Meeting
1000 Autozone Inc (AZO). Q4 earnings conference call
1100 Neogen Corp (NEOG). Q1 earnings conference call
1630 Tesla Inc (TSLA). Annual Shareholders Meeting
1700 Nike Inc (NKE). Q1 earnings conference call
1700 KB Home (KBH). Q3 earnings conference call
1700 Stitch Fix Inc (SFIX). Q4 earnings conference call

Goedemorgen
Wat er opvalt is dat de indices die achterbleven op de tech zwaargewichten het nu laten afweten, dat zien we aan het verloop van de DAX en de Dow Jones. Gisteren verloren beiden fors, de Dow even bijna 1000 punten al kwam er een stevig slot offensief op Wall Street waar de Nasdaq 100 zelfs nog in de plus wist te eindigen al was het maar een fractie. Dat kwam vooral door die zwaargewichten, de TOP-8 zoals we die noemen de afgelopen periode al deden er 2 niet mee (Alphabet en Facebook). De rest en dat zijn Microsoft, Apple, Amazon, Tesla, Netflix en Nvidia konden alle 6 een redelijk verlies ombuigen naar een winst van tussen de 0,5 en 4%. Een duidelijk herstel intraday en vooral het op pakken van de winners van enkele weken geleden.

Of dat nu door speculanten komt of niet, al deze aandelen blijven in een moeilijke fase zitten. De vraag is dan ook of de grote jongens die blijkbaar aan het dumpen zijn dit zullen toelaten want er zit behoorlijk wat druk op de markt en dat kan nog wel een tijdje zo blijven.

In Europa was het vooral bij de DAX prijs deze keer, de index verloor ruim 4% en kwam in een soort selloff terecht. De 13.000 werd meteen doorbroken met vervolgens de 12.750 en zelfs de 12.500 punten die werd aangetikt om er net boven te sluiten. Ook de AEX die er al minder goed bij lag de voorbije weken kreeg het heel moeilijk en verloor 15 punten om onder de 540 te sluiten, de volgende steun zie ik rond de 528 en de 520 punten. Later kan de AEX bij grotere verkoopdruk zelfs terug tot rond de 490 punten maar dat zien we later wel. De DAX kan richting de 12.200 punten waar we steun zien door het 200-MA en een eerdere bodem. De markt blijft vanaf nu zeker kwetsbaar.

Wat kunnen we doen wat betreft nieuwe posities:
Daar ik vrijdag op een dip had ingezet op een nieuwe groene maandag, want die kregen we de afgelopen weken vrijwel altijd, heb ik de kleine long posities met wat verlies gesloten. Er komen snel weer nieuwe mogelijkheden waar ik op ga handelen, de trend kan wel aanhouden met tussentijds wat rebounds dus over het algemeen zal ik voor shorts moeten kiezen. U kunt dus meteen mee met de nieuwe posities door lid te worden via de aanbieding die loopt tot 1 DECEMBER voor €39 ... Om u in te schrijven ga meteen naar de link https://www.usmarkets.nl/tradershop en dan staat u vandaag nog op de lijst.

Zie hieronder de tabel met het resultaat na de posities die deze maand al zijn gesloten ... Systeem Trading staat nu al op €884 winst terwijl we met Guy Trading op €1319 winst uitkomen.

Marktoverzicht maandag op slotbasis:

Guy Boscart

GLOBAL TOP NEWS
Beijing is unlikely to approve an "unfair" deal Oracle and Walmart said they have struck with ByteDance over the future of video-streaming app TikTok, state-backed newspaper Global Times said in an editorial.​

President Donald Trump raced on Monday to cement a conservative majority on the U.S. Supreme Courtbefore the Nov. 3 election, telling reporters he planned by Saturday to reveal his pick to succeed liberal icon Ruth Bader Ginsburg.

World leaders came together, virtually, on Monday to mark the 75th anniversary of the United Nations, as the deadly coronavirus pandemic and tensions between the United States and China challenge the effectiveness and solidarity of the 193-member body. ​


EUROPEAN COMPANY NEWS
Global banks faced a fresh scandal about dirty money on Monday as they sought to limit the fallout from a cache of leaked documents showing they transferred more than $2 trillion in suspect funds over nearly two decades.​

A U.S. court on Monday fast-tracked Tiffany's lawsuit against French luxury goods conglomerate LVMH for trying to back out of its $16 billion deal to acquire the jeweler.

Lufthansa announced further cuts to its fleet and workforce on Monday along with a 1.1 billion euro impairment on idled aircraft as Europe's worsening coronavirus situation spread gloom across the airline sector.​


Thomson Reuters/INSEAD Asian Business Sentiment Survey 2020Q3
Thomson Reuters and graduate business school INSEAD ask Asia-Pacific companies to rate their business outlook for the next six months in a survey which in Q2 yielded a negative sentiment index of 35. The latest survey will be released at 0300 GMT on Wednesday.


TODAY'S COMPANY ANNOUNCEMENTS
A.G.Barr PLC HY 2020 Earnings Release
Alliance Pharma PLC HY 2020 Earnings Call
BD Multi Media SA Annual Shareholders Meeting
Blue Planet Investment Trust PLC Annual Shareholders Meeting
Bluefield Solar Income Fund Ltd FY 2020 Earnings Call
Close Brothers Group PLC FY 2020 Earnings Call
Demire Deutsche Mittelstand Real Estate AG Annual Shareholders Meeting
EAB Group Oyj Annual Shareholders Meeting
Focus Home Interactive SA Annual Shareholders Meeting
Grafenia PLC Annual Shareholders Meeting
Kingfisher PLC HY 2020 Earnings Release
Kko International SA Annual Shareholders Meeting
Manolete Partners PLC Annual Shareholders Meeting
Morses Club PLC Annual Shareholders Meeting
Odyssean Investment Trust PLC Annual Shareholders Meeting
Orpea SA HY 2020 Earnings Release
Pantheon International PLC Annual Shareholders Meeting
Prime People PLC Annual Shareholders Meeting
SM Wirtschaftsberatungs AG Annual Shareholders Meeting
Trifast PLC Annual Shareholders Meeting
Yourgene Health PLC Annual Shareholders Meeting​


ECONOMIC EVENTS (All times GMT)
0730 Sweden GDP Revised yy for Q2: Prior -7.7%
0730 Sweden GDP Revised qq for Q2: Prior -8.3%
0730 (approx.) Sweden Riksbank Rate: Expected 0.00%; Prior 0.00%
1000 United Kingdom CBI Trends - Orders for Sep: Expected -40; Prior -44
1400 Euro Zone Consumer Confidence Flash for Sep: Expected -14.6; Prior -14.7 ​