Liveblog Archief dinsdag 23 juni 2020

TOP NEWS
• White House adviser Navarro walks back on comments China trade deal 'over'
White House trade adviser Peter Navarro on Monday walked back on his earlier remarks that the U.S.-China trade pact was "over", stoking volatility in markets already frazzled by the coronavirus pandemic.
• Sanofi clinches $2 billion vaccines deal with Translate Bio
Sanofi has agreed a potential $2 billion deal with Translate Bio to make vaccines, expanding their collaboration in development of an inoculation against COVID-19.​
• Euro zone downturn eased in June, V-shaped recovery in doubt
The historic euro zone economic downturn eased again this month as swathes of businesses reopened after closures to stem the spread of the coronavirus, but a V-shaped recovery may be unlikely, a set of closely-watched surveys showed.
• Former Wirecard CEO arrested on suspicion of falsifying revenue – prosecutors
Former Wirecard Chief Executive Markus Braun has been arrested on suspicion of falsifying company revenue to make it appear stronger and more attractive for investors and customers, prosecutors said in a statement.
• SoftBank kicks off $21 billion sale of T-Mobile shares
SoftBank Group unveiled a series of transactions on Monday to divest more than $21 billion worth of stock in U.S. wireless carrier T-Mobile US, as it seeks funding for a $41 billion share buyback and debt reduction plan.


BEFORE THE BELL
Futures for Wall Street’s major indexes rose and oil prices climbed as the U.S. President Donald Trump confirmed that a trade deal with China is fully intact after White House trade adviser Peter Navarro’s comments on the deal stoked volatility. Asian equity markets also bounced. European shares surged as upbeat Euro Zone PMI data suggested economic recovery. The euro rose against the dollar. Demand for safety helped gold steady near a one-month high. PMI data from IHS Markit is scheduled on the economic calendar.​


STOCKS TO WATCH
Moves
• Palo Alto Networks Inc (PANW). The company’s Chief Financial Officer Kathy Bonanno is stepping down to join Google's Cloud division, the cybersecurity firm said on Monday. The company said it expects to find a replacement for Bonanno, who has been with Palo Alto for six years, by later this week. Bonanno will, however, continue in her role through the end of the fiscal year to allow smooth transition of her responsibilities.

Deals Of The Day
• Sanofi SA (SNY) & Translate Bio Inc (TBIO). Sanofi has agreed a potential $2 billion deal with the U.S. biotech company to make vaccines, expanding their collaboration in development of an inoculation against COVID-19. The deal strengthens Sanofi's credentials in a market engaged in a frantic race to find a safe and effective vaccine against the coronavirus disease that has killed more than 472,000 worldwide. The companies said they would expand their partnership to develop a wide range of mRNA vaccines. The deal will give Sanofi about 7.2% of Translate Bio and exclusive worldwide rights to develop, manufacture and sell infectious disease vaccines using the U.S. company's technology. Translate Bio, meanwhile, will receive an upfront payment of $425 million, comprising $300 million in cash and a common stock investment of $125 million through a private placement at $25.59 per share - a 57.6% premium to Monday's closing price of $16.24.​

In Other News
• Alphabet Inc (GOOGL). More than 1,600 workers at the company are petitioning its Google unit to stop selling email and other services to police departments, a source familiar with the matter said on Monday. The workers in a petition seen by Reuters expressed disappointment with Google not joining the "millions who want to defang and defund" police departments. A Google spokesperson told Reuters in response, "We have longstanding terms of use for generally available computing platforms like Gmail, G Suite and Google Cloud Platform, and these products will remain available for governments and local authorities, including police departments, to use."
• Apple Inc (AAPL). The company on Monday said it would let software developers "challenge" the guidelines that govern its app review process and will end its practice of blocking routine bug fixes over minor violations. Apple's App Store is the only way for developers to distribute their software to consumers' iPhones and iPads. Apple keeps between 15% and 30% of revenues generated by developers in the store, making it a key part of its growth strategy as the pace of iPhone upgrades has slowed.
• AstraZeneca Plc (AZN). A trial in pigs of the company's experimental COVID-19 vaccine has found that two doses of the shot produced a greater antibody response than a single dose. Research released by Britain's Pirbright Institute found that giving an initial prime dose followed by a booster dose of the vaccine elicited a stronger immune response than a single dose. This suggests a two-dose approach may be more effective in getting protection against COVID-19, the disease caused by the new coronavirus.
• Alibaba Group Holding Ltd (BABA). Fosun International is in talks with Alibaba and others to sell a stake worth $1.3 billion in the e-commerce giant's Cainiao, three people said, at a time when Alibaba has been increasing its holdings in the logistics affiliate. Fosun is looking to sell part or all of its 6.7% stake in Cainiao at a valuation of nearly $20 billion, two of the people said. The once-acquisitive conglomerate has been talking to Chinese investment firms and companies, including Alibaba, over the past few months about the sale, and wants to use the proceeds for new investments in consumer and healthcare businesses, the two people said. Alibaba is considering buying part of the stake from Fosun, one of the people said.
• Chevron Corp (CVX). Woodside Petroleum's Chief Executive Peter Coleman said the Australian firm aims to play a decisive role in the company's plan to sell a stake in the North West Shelf (NWS) project, operated and co-owned by Woodside. Chevron last week put its one-sixth stake up for sale in Australia's oldest and biggest liquefied natural gas (LNG) project. Woodside has a pre-emptive right to match any offer for a stake in what Coleman called his firm's crown jewel. Speaking at Credit Suisse's annual Australian energy conference, Coleman said it was unlikely any oil and gas company would bid for the stake, which analysts have estimated could fetch about $3 billion. Instead, Coleman said, infrastructure players would be attracted as the NWS project's gas fields are drying up and the associated LNG plant is going to become a facility that processes gas for third parties, charging a toll.
• Facebook Inc (FB) & Twitter Inc (TWTR). Democratic presidential candidate Joe Biden's political campaign has asked social media giants Facebook and Twitter to remove posts by Republican President Donald Trump on Monday that it said made false claims aimed at discrediting mail-in voting. Trump tweeted several times on Monday criticizing vote-by-mail plans that numerous states have implemented so that voters concerned about the coronavirus infection can submit their ballots from home.
• Intuit Inc (INTU). The TurboTax-maker has cut 715 jobs, its Chief Executive Officer Sasan Goodarzi said in a note to employees on Monday, a move that is a part of the company's ongoing strategy to become an AI-driven platform. The income-tax filing software firm also said it will revamp its customer experience, technology and sales strategies, among others, as a part of the transformation announced early last year. All impacted employees will receive a minimum of four weeks of pay, and two additional weeks for every year of service, the CEO said in a note that was posted on the company's blog.
• KBR Inc (KBR). The engineering and construction firm will exit most of its liquefied natural gas construction and other energy projects, it told investors and employees, as customers pull back on energy investments. The company will refocus on government contracts and technology businesses, Chief Executive Stuart Bradie wrote to employees on Monday. It will "no longer engage in lump sum, blue collar construction services," saying the COVID-19 pandemic accelerated the decision to leave fixed-contract energy projects.
• Luckin Coffee Inc (LK). The company has picked investment bank Houlihan Lokey as an adviser, according to sources close to the matter, following an accounting scandal that has seen the Chinese coffee chain's shares plummet and creditors pursue assets held by the firm's family. Houlihan Lokey's remit will be to provide financial and strategic advice, one source said. A Cayman Islands court last week granted lenders, led by Credit Suisse, a court order to wind up Primus Investments Fund and Mayer Investments Fund, entities holding shares in Luckin Coffee and ultimately controlled by the family of the coffee firm's Chairman Charles Zhengyao Lu. The lenders are seeking to recover about $324 million of outstanding debt, according to a Cayman Islands court filing.
• Salesforce (CRM). Siemens and the U.S. software developer will work together on products to help companies' employees get back to work while following rules to prevent the spread of the new coronavirus, the firms said. The project will link Salesforce's Work.com platform with products from Siemens Comfy and Enlighted, part of the German company's Smart Infrastructure businesses, to give employees data on their mobile phones when they return.
• Spirit AeroSystems Holdings Inc (SPR). Boeing's largest supplier said on Monday it was seeking relief from its lenders as its finances are stretched by the COVID-19 pandemic and a 737 MAX production halt after deadly crashes. Boeing has asked the aero parts maker to substantially reduce 737 production this year, and Spirit warned that further suspensions or cuts may have a "material adverse" effect on its financial condition. The company said it now expects to deliver only 72 shipsets - or complete sets of parts - to Boeing, compared with 125 planned earlier.
• T-Mobile US Inc (TMUS). SoftBank unveiled a series of transactions to divest more than $21 billion worth of stock in the U.S. wireless carrier, as it seeks funding for a $41 billion share buyback and debt reduction plan. All in all, SoftBank will divest two-thirds of its 24.6% stake in T-Mobile. It also granted Deutsche Telekom, owner of a 43.6% stake in T-Mobile, call options to acquire its remaining T-Mobile shares. The call options expire in 2024. SoftBank will pay T-Mobile a $300 million fee for facilitating the transactions.
• ViacomCBS Inc (VIACA). The company said the animated family film "The SpongeBob Movie: Sponge on the Run" will debut digitally in the United States via premium video-on-demand (VOD) in early 2021, as the COVID-19 pandemic keeps movie theaters shut. After the premium on-demand viewing window closes, the film will move exclusively to CBS All Access, ViacomCBS' subscription VOD and live-streaming service, the company said in a statement. ViacomCBS said the upcoming "SpongeBob" movie will debut on the expanded service.


POLL
Fed's gloomy economic outlook "about right," say economists
The Federal Reserve struck the right tone in its first pandemic-era economic outlook, suggesting years of extraordinary policy support for an economy facing a slow and long slog back, according to a majority of economists in a Reuters poll.​


ANALYSTS' RECOMMENDATION
• Banner Corp (BANR). Piper Sandler cuts target price to $39 from $40, after the company released an updated investor presentation and estimated its 2Q20 provision to be higher than the previous quarter.
• CME Group Inc (CME). Credit Suisse cuts target price to $183 from $190, forecasting a challenging volume backdrop for the company in Q2/2H, driven by the interest rates and energy franchises that face cyclical headwinds.
• DexCom Inc (DXCM). Canaccord Genuity raises target price to $435 from $370, on a belief that robust cycle of innovation in CGM and insulin segments remains in place to drive the company’s sustained growth.
• Etsy Inc (ETSY). RBC raises target price to $117 from $79, in wake of the company’s deep dive bottom-up analysis, proprietary survey work, and positive industry data points.
• Karyopharm Therapeutics Inc (KPTI). JPMorgan raises target price to $37 from $31, after the company announced FDA approval for XPOVIO drug.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0945 Markit Composite Flash PMI for Jun: Prior 37.0
0945 Markit Manufacturing PMI Flash for Jun: Expected 48; Prior 39.8
0945 Markit Service PMI Flash for Jun: Expected 46.5; Prior 37.5
1000 New home sales-unit for May: Expected 0.640 mln; Prior 0.623 mln
1000 New home sales change mm for May: Expected 2.9%; Prior 0.6%
1000 (approx.) Rich Fed Composite Index for Jun: Prior -27
1000 (approx.) Rich Fed, Services Index for Jun: Prior -48
1000 (approx.) Rich Fed Manufacturing Shipments for Jun: Prior -26


COMPANIES REPORTING RESULTS
No major S&P 500 companies are scheduled to report.​


CORPORATE EVENTS (All timings in U.S. Eastern Time)
1000 Pegasystems Inc (PEGA). Annual Shareholders Meeting
1000 Vapotherm Inc (VAPO). Annual Shareholders Meeting
1030 Momenta Pharmaceuticals Inc (MNTA). Annual Shareholders Meeting
1100 ACADIA Pharmaceuticals Inc (ACAD). Annual Shareholders Meeting
1100 Adverum Biotechnologies Inc (ADVM). Annual Shareholders Meeting
1230 Zuora Inc (ZUO). Annual Shareholders Meeting
1300 Carmax Inc (KMX). Annual Shareholders Meeting
1300 FS KKR Capital Corp (FSK). Annual Shareholders Meeting
1500 Equity Commonwealth (EQC). Annual Shareholders Meeting
1500 2U Inc (TWOU). Annual Shareholders Meeting
1530 Blueprint Medicines Corp (BPMC). Annual Shareholders Meeting
1630 AeroVironment Inc (AVAV). Q4 earnings conference call


EX-DIVIDENDS
Cabot Microelectronics Corp (CCMP). Amount $0.44

Goedemorgen
De nacht was in veel opzichten onrustig zie ik na het overzicht te bekijken want de Dow future laten een range van rond de 600 punten zien, als ik kijk wat er gaande was rond die low dan zie ik een bericht dat de Trade Deal voorbij zou zijn, later werd dat snel weer tegengesproken. Hoe dan ook merk je hoe overspannen de markten zijn momenteel, er wordt hoe dan ook een nieuwe BUBBEL gecreëerd met de stevig oplopende waarderingen en dat zorgt ervoor dat iedereen klaar zit om te verkopen als blijkt dat die BUBBEL kan uiteenspatten. Zoiets kan een tijd duren weten we uit ervaring, denk aan de Bitcoin top in 2017 maar ook de Nasdaq ofwel tech-bubbel eind 1999-2000 en zo zijn er nog veel meer te ontdekken als we de overzichten nakijken. Gevaarlijk om nu blind long te gaan omdat er een te groot gapend gat onder de huidige standen ligt. Het gat kunnen we eigenlijk bepalen vanaf 23 maart (bodem recente crash) tot de standen van nu. Bij de ene index is dat meer dan bij de andere maar ik zie gemiddeld zo'n 20-30% risico in de markten op dit moment en dat is genoeg voor de CRASH#2 die op ons afkomt.

Wanneer die komt kan niemand voorspellen op de dag na, wel denk ik dat richting de verkiezingen in de VS er een grote kans bestaat dat alles er weer totaal anders uit zal zien. Let wel, er kan nog 10% of zelfs meer bovenop komen, we weten dat niet en we zien het dagelijks op ons afkomen met die hoger koersen maar het gevaar wordt met de dag groter door dat de markten doortrekken terwijl de consument het niet ziet zitten of later in de problemen kan komen door het uitgavenpatroon samen met door economische omstandigheden met minder moet rondkomen. Zijn zaken voor later, maar ze zijn er hoe dan ook wel ...

We kunnen dat ook zien aan het verloop van de VIX ofwel de volatiliteit meter op Wall Street, mocht er sprake zijn van kalmte, rust en vertrouwen in hetgeen we zien dan stond de VIX al lang weer in de buurt van de 10-15, vandaag staat de VIX nog steeds zeer hoog met een waarde van 32, dat is in feite dubbel zo hoog als normaal. Ook hier laat de markt zien er niet gerust op te zijn, later moet blijken of deze volatiliteit meter het bij het rechte eind heeft. Toch opletten met alles, ook al lijkt het erop dat de markt geen enkele intentie toont om weer te gaan crashen of fors terug te vallen. Beleggers, speculanten en nieuwe Robin Hood traders gaan er vanuit dat er totaal niks aan de hand is en dat baart me de nodige zorgen ... Allemaal voor later, wel iets om duidelijk rekening mee te houden want in het verleden was er geen enkele BUBBEL die het kon houden en bij het barsten ervan veel beleggers met lege handen nalaat. Vrij herkenbaar, maar de timing om zo'n fase aan te pakken is en blijft zeer moeilijk. En een trader of ervaren belegger wil er ook niet zo makkelijk aan meedoen omdat we weten hoe het kan aflopen ...

Nu nog even geen posities, wel kijk ik uit om wat te gaan doen waar het kan, mogelijk in de loop van de dag als de koersen weer wat hoger uitkomen om wat kleine shorts op te pakken. Meedoen kan door lid te worden, nu loopt er een aanbieding tot 1 SEPTEMBER voor €39 ... Schrijf u in via de link https://www.usmarkets.nl/tradershop

Tot straks ... Guy Boscart

GLOBAL TOP NEWS
U.S. President Donald Trump suspended the entry into the United States of certain foreign workers on Monday, a move the White House said would help the coronavirus-battered economy, but which business groups strongly oppose.

White House trade adviser Peter Navarro said on Monday the trade deal with China "continues in place', walking back on his earlier remarks that the pact was 'over', stoking volatility in markets already frazzled by the coronavirus pandemic.

Japan's factory activity remained stuck at an 11-year low in June, in a sign the coronavirus pandemic is taking a toll on manufacturers even as services-sector sentiment picks up.


EUROPEAN COMPANY NEWS
The German government held talks with Lufthansa's biggest shareholder on Monday to persuade him to accept the terms of a 9 billion euro coronavirus bailout that it has offered the airline group.

European Union antitrust regulators on Monday warned about the possible anti-competitive effects of the London Stock Exchange's $27 billion bid for data and analytics company Refinitiv as they launched a four-month investigation into the deal.

Volkswagen AG's Mexican unit on Monday said about 2% of its workers tested for coronavirus had contracted the disease at some point, underlining the challenge faced by automakers in reopening factories before the pandemic has peaked in Mexico.


TODAY'S COMPANY ANNOUNCEMENTS
2G Energy AG Annual Shareholders Meeting
Aberdeen New Thai Investment Trust PLC Annual Shareholders Meeting
Accsys Technologies PLC FY 2020 Earnings Call
Affimed NV Q1 2020 Earnings Call
All Star Minerals PLC Shareholders Meeting
Artea SA Annual Shareholders Meeting
Baikowski SASU Annual Shareholders Meeting
Bijou Brigitte modische Accessoires AG Annual Shareholders Meeting
Ceps PLC Annual Shareholders Meeting
Compagnie Generale des Etablissements Michelin SCA Annual Shareholders Meeting
Digigram SA Annual Shareholders Meeting
Eeii AG Annual Shareholders Meeting
Enwell Energy PLC Annual Shareholders Meeting
EPE Special Opportunities Ltd Annual Shareholders Meeting
Eurobio Scientific SA Annual Shareholders Meeting
F I P P SA Annual Shareholders Meeting
Groupe IRD SA Annual Shareholders Meeting
Haldex AB Annual Shareholders Meeting
Hansa Biopharma AB Annual Shareholders Meeting
Henderson High Income Trust PLC Annual Shareholders Meeting
Holidaycheck Group AG Annual Shareholders Meeting
IHS Markit Ltd Q2 2020 Earnings Call
Integrated Diagnostics Holdings PLC Annual Shareholders Meeting
Keyrus SA Annual Shareholders Meeting
Lechwerke AG Annual Shareholders Meeting
Logic Instrument SA Annual Shareholders Meeting
Masterflex SE Annual Shareholders Meeting
Merchants Trust PLC Annual Shareholders Meeting
MS Industrie AG Annual Shareholders Meeting
Netfonds AG Annual Shareholders Meeting
Orpea SA Annual Shareholders Meeting
Oxford BioMedica PLC Annual Shareholders Meeting
Panther Securities P L C Annual Shareholders Meeting
ProQR Therapeutics NV Annual Shareholders Meeting
PSB Industries SA Annual Shareholders Meeting
PV Crystalox Solar PLC Annual Shareholders Meeting
Riber SA Annual Shareholders Meeting
SHW AG Annual Shareholders Meeting
Si Participations SCA Annual Shareholders Meeting
Sixt Leasing SE Annual Shareholders Meeting
Smart Metering Systems PLC Annual Shareholders Meeting
Soditech SA Annual Shareholders Meeting
Studsvik AB Annual Shareholders Meeting
US Solar Fund PLC Annual Shareholders Meeting
Zalando SE Annual Shareholders Meeting


ECONOMIC EVENTS (All times GMT)0715 France Markit Manufacturing Flash PMI for June: Expected 46.0; Prior 40.60715 France Markit Services Flash PMI for June: Expected 44.2; Prior 31.10715 France Markit Composite Flash PMI for June: Expected 46.3; Prior 32.10730 Germany Markit Manufacturing Flash PMI for June: Expected 41.5; Prior 36.60730 Germany Markit Service Flash PMI for June: Expected 42.0; Prior 32.60730 Germany Markit Composite Flash PMI for June: Expected 44.2; Prior 32.30800 Euro Zone Markit Manufacturing Flash PMI for June: Expected 44.5; Prior 39.40800 Euro Zone Markit Services Flash PMI for June: Expected 41.0; Prior 30.50800 Euro Zone Markit Composite Flash PMI for June: Expected 42.4; Prior 31.90830 United Kingdom Flash Composite PMI for June: Expected 41.0; Prior 30.00830 United Kingdom Flash Manufacturing PMI for June: Expected 45.0; Prior 40.70830 United Kingdom Flash Services PMI for June: Expected 40.0; Prior 29.0