Liveblog Archief dinsdag 27 oktober 2020

TOP NEWS
• AMD to buy chip peer Xilinx for $35 billion in data center push
Semiconductor designer Advanced Micro Devices said it would buy Xilinx in a $35 billion all-stock deal, intensifying its battle with Intel in the data center chip market.

• Pfizer third-quarter sales fall on lower demand for pain drugs
Pfizer reported a 4.3% drop in third-quarter sales, hurt by increased competition for its off-patent pain drug Lyrica and lower demand for some of its treatments during the COVID-19 pandemic.

• Eli Lilly profit misses estimates on weak demand, higher costs
Eli Lilly missed analysts' expectations for third-quarter profit due to lower demand for some its medicines and increased costs to develop COVID-19 treatments.

• 3M profit beats estimates on healthcare product boost
3M Co topped Wall Street estimates for quarterly profit, as the COVID-19 pandemic boosted demand for its healthcare equipment.

• PREVIEW-Big Tech earnings approach under antitrust cloud
Apple, Alphabet, Amazon and Facebook together accounting for about a fifth of the S&P 500's total value, report their quarterly results on Thursday, with their stocks trading near record highs, even as they face increasing antitrust scrutiny.


BEFORE THE BELL
U.S. stock index futures were slightly higher as investors parsed through a deluge of corporate results, while bracing for volatility ahead of the elections. European stocks fell, as worries about the economic fallout of tighter coronavirus restrictions countered gains from upbeat earnings of top companies. Asian equities ended on a mixed note. The dollar index and gold prices were little changed. Crude prices gained as oil companies shut down some Gulf of Mexico output due to Hurricane Zeta. Microsoft is among the companies reporting results after the closing bell. The U.S. durable goods data is on the economic calendar.


STOCKS TO WATCH

Results
• 3M Co (MMM). The industrial conglomerate topped Wall Street estimates for quarterly profit, as the COVID-19 pandemic boosted demand for its healthcare equipment. Sales in its healthcare unit rose 25.5% to $2.2 billion, boosted by demand for protective equipment to fight the spread of the virus. Net income attributable to the company fell to $2.43 per share in the third quarter, from $2.72 per share, a year earlier. Net sales rose to $8.35 billion from $7.99 billion. Analysts on average expected quarterly earnings of $2.26 per share, according to Refinitiv data.

• Banco Santander SA (SAN). The bank expects its core profit in 2020 to beat current market expectations, helped partly by additional cost savings of 1 billion euros in Europe by 2022, which could include thousands of job cuts. "The recovery of our business is progressing well, and the third quarter was significantly stronger than the second," Executive Chairman Ana Botin said a statement. "Revenues increased 18% in constant euros as activity returned close to pre-pandemic levels." Santander's statutory net profit trebled in the third quarter compared with a year ago, but on an underlying basis the bank's profit fell 18% in the same period to 1.75 billion euros due to more coronavirus related provisions. Analysts polled by Reuters expected an operating profit of 1.06 billion euros. Santander lowered its guidance for cost of risk, which measures the cost of managing credit risks and potential losses, to 130 basis points by the end of 2020 after a previous guidance of between 140 bps and 150 bps, implying lower loan-loss provisions in the future.

• BP PLC (BP). The company swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and continued to weigh on fuel demand and refining profits. BP reported a $86 million underlying replacement cost profit, the company's definition of net income, for the three months to Sept. 30, beating analysts' expectations of a loss of $120 million. BP's refining margin of $6.20 per barrel was up slightly from the previous quarter but less than half of what it was a year earlier. The results were boosted by higher oil prices and stronger natural gas trading results, though oil trading was "significantly lower" than the previous quarter, BP said. Its debt-to-equity ratio, or gearing, including leases, was 37.7% at the end of September, flat on the quarter and up from 35.9% a year ago.

• Caterpillar Inc (CAT). The heavy equipment maker reported lower third-quarter earnings as equipment sales fell across all three primary segments. In the quarter, the company reported a profit of $1.22 per share, down 54% from a year ago. Analysts surveyed by Refinitiv, on average, expected earnings of $1.16 per share. Caterpillar Chief Executive Jim Umpleby, however, said the company was witnessing "positive signs" in certain industries and geographies. Construction machine sales in Asia-Pacific, for example, were up 14% year-on-year in the latest quarter.

• Eli Lilly and Co (LLY). The drugmaker missed analysts' expectations for third-quarter profit due to lower demand for some its medicines and increased costs to develop COVID-19 treatments. The company said it expects 2020 COVID-19 research and development expense to be roughly $400 million. Net income fell to $1.21 billion, or $1.33 per share, in the quarter ended Sept. 30, from $1.25 billion, or $1.37 per share, a year earlier. Excluding items, the drugmaker earned $1.54 per share, below analysts' average estimate of $1.71 per share.

• HSBC Holdings PLC (HSBC). The bank signalled it would embark on a pandemic-induced overhaul of its business model, seeking to flip its main source of income from interest rate to fee-based businesses. Reporting a 35% tumble in quarterly profit, Europe's largest bank also accelerated plans to shrink in size, targeted deeper cost cuts, and said it will resume conservative dividend payments when able. In a potentially seismic shift for the banking industry, HSBC also said it could start charging for products such as standard current accounts that customers in some markets such as Britain expect to be free. Underscoring its challenges, the bank's third-quarter revenue fell to $11.9 billion, down 11% from a year earlier. Its 35% slide in pretax profit to $3.1 billion beat a consensus estimate of $2.07 billion as HSBC flagged an easing in bad loan provisions. HSBC said it plans to reduce annual costs to below $31 billion by 2022, a more ambitious target than it set out in February and well below the operating expenses of $42.3 billion it reported in 2019. It will also accelerate the transformation of its U.S. business, where it has long struggled to compete with much bigger players, and will provide an update at its 2020 results in February.

• Novartis AG (NVS). The Swiss drugmaker nudged up its operating profit guidance, as the company predicted healthcare systems would navigate a second COVID-19 wave better than the first and keep drug sales flowing. The company now expects 2020 operating income growth in a low-to-mid double-digit percentage range, compared with a low double-digit rate forecast previously. Sales are seen rising by a mid single-digit percentage, unchanged from previous guidance. Third-quarter core net income climbed 8% to $3.47 billion, above analysts' average forecast of $3.32 billion in a Refinitiv poll. Sales rose 1% to $12.3 billion, missing the $12.7 billion forecast. Chief Executive Vas Narasimhan acknowledged COVID-19 disruptions could still derail 2020 targets, but said hospitals, doctors and patients had learned from lockdowns earlier this year that delayed treatment and hit sales of Novartis medicines.

• Pfizer Inc (PFE). The drugmaker reported a 4.3% drop in third-quarter sales, hurt by increased competition for its off-patent pain drug Lyrica and lower demand for some of its treatments during the COVID-19 pandemic. In the third quarter, Pfizer said Lyrica sales fell 33% to $352 million. Total sales fell to $12.13 billion from $12.68 billion a year ago. As the COVID-19 pandemic crimps demand for certain Pfizer therapies and damages global economies, investors are keenly focused on seeing late-stage study data of the vaccine candididate being developed by Pfizer and German partner BioNTech.

• Teck Resources Ltd (TECK). The Canadian miner reported a 66.6% fall in third-quarter adjusted profit, as production of steelmaking coal decreased. Average price realized for steelmaking coal dropped 34.6% to $102 per tonne in the quarter, while sales stood at 5.1 million tonnes compared with 6.1 million tonnes a year earlier. Net adjusted income fell to C$130 million, or C$0.24 per share in the third quarter ended Sept. 30 from C$389 million, or 69 Canadian cents per share, a year earlier. This missed analysts' average estimate of 27 Canadian cents. Teck also reduced its copper production guidance range for the second half of 2020 by 5,000 tonnes.

• Twilio Inc (TWLO). The cloud communications company on Monday posted a surprise third-quarter profit and forecast sales above estimates for the fourth, as a switch to remote working and learning due to the COVID-19 pandemic boosted demand for cloud services. The company, however, expects to post a loss of 8 cents to 11 cents per share for the current quarter. Analysts on average were expecting a profit of 2 cents. Excluding items, Twilio posted a profit of 4 cents per share for the third quarter, while analysts had expected a loss of 3 cents per share. The company's revenue jumped over 50% to about $448 million in the third quarter and beat estimates of $409.9 million. Twilio's active customer accounts rose 21% to 208,000 as of Sept. 30.

Deals Of The Day
• Advanced Micro Devices Inc (AMD) & Xilinx Inc (XLNX). Semiconductor designer AMD said it would buy Xilinx in a $35 billion all-stock deal, intensifying its battle with Intel in the data center chip market. The deal, which AMD expects to close at the end of 2021, would create a combined firm with 13,000 engineers and a completely outsourced manufacturing strategy that relies heavily on Taiwan Semiconductor Manufacturing. Under the deal, Xilinx shareholders will receive about 1.7 shares of AMD common stock for each share of Xilinx common stock, valuing Xilinx at $143 per share, or about 24.8% higher than its $114.55 closing price on Oct. 26. AMD shareholders will own about 74% of the combined firm, with Xilinx shareholders owning the remaining 26%. The companies said the transaction was intended to be a tax-free reorganization for U.S. federal income tax purposes. AMD's Lisa Su will lead the combined company as chief executive, with Xilinx's Victor Peng serving as president responsible for the Xilinx business and strategic growth initiatives. The companies expect the deal to generate $300 million in cost savings. AMD also reported earnings earlier than scheduled. It reported revenue and adjusted earnings of $2.80 billion and 41 cents per share, beating Wall Street expectations of $2.57 billion and 36 cents per share.

• J M Smucker (SJM) & B&G Foods (BGS). J M Smucker will sell its Crisco business to peer B&G Foods in an all-cash deal valued at about $550 million, as it focuses on pet food, coffee and snacks, the companies said on Monday. J M Smucker, which is looking to exit the U.S. baking category, said the deal also includes its oils and shortening business outside the United States. The company, known for its jelly and beverages, expects the divestiture to cut its annual adjusted earnings per share by 45 cents to 55 cents.

Moves
• American International Group Inc (AIG). The insurer on Monday said its board approved a plan to separate the life and retirement business from the rest of the company, and named President Peter Zaffino as chief executive officer, effective next year. The insurer said it has yet to make a decision on how to carry out the separation, beyond the board voting to establish two independent, market-leading companies. The separation of the business could take "a couple of years" and may be done in phases through sales of minority stakes, according to two people familiar with the matter. The board's decision does not rule out a single sale and any proposed transactions will also need board approval, AIG said. AIG also on Monday said that it incurred an estimated $790 million in catastrophe losses during the third quarter, net of reinsurance and before tax, including $185 million of estimated catastrophe losses for claims related to COVID-19. The losses were broadly in line with what analysts expected.​

• Tapestry Inc (TPR). The company said its interim chief executive officer Joanne Crevoiserat would take over the role on a permanent basis. Crevoiserat was serving as the company's chief financial officer until July, before replacing Jide Zeitlin who stepped down as CEO amid an investigation into his personal behavior. Crevoiserat is also expected to be appointed to Tapestry's board, the company said.

In Other News
• Alibaba Group Holding (BABA). Ant Group will close institutional order books of the Hong Kong portion of its record-setting dual IPO ahead of schedule due to strong demand, sources with direct knowledge of the matter said. The institutional book of the $17.2 billion Hong Kong listing was due to close on Thursday, but that deadline will be accelerated to Wednesday 5.00 p.m. in each region, three sources said. The book was oversubscribed just one hour after the launch on Monday, two separate sources said. The company, which is an affiliate of Alibaba, is looking to raise up to $34.4 billion in Hong Kong and Shanghai, with the offer split between the two cities, giving it a valuation of about $312 billion. "The demand is overwhelming ... It will smash all previous records," Francis Lun, Hong Kong-based chief executive of GEO Securities, said about retail demand for Ant.

• Alphabet Inc (GOOGL). U.S. District Judge Amit Mehta on Monday set a status hearing on the Justice Department's antitrust lawsuit against Google for Friday. The Justice Department last week sued the $1 trillion company and accused it of illegally using its market muscle to hobble rivals in the biggest challenge to the power and influence of Big Tech in decades. Mehta said lawyers for Google and the Justice Department must appear at the telephone status hearing at 10 a.m. EDT that will be open to the public or media.

• AstraZeneca PLC (AZN). South Korea's food and drug ministry said it had begun a preliminary review of a COVID-19 vaccine being developed by AstraZeneca for potential fast-track approval. The Ministry of Food and Drug Safety said in a statement that it had formed a screening team to review the vaccine candidate, with an application for formal approval expected in 90 days under its rapid approval programme for COVID-19 treatments and vaccines. The team is reviewing the vaccine's non-clinical test data, the ministry said.

• Boeing Co (BA). The U.S. State Department has approved the potential sale of 100 Boeing-made Harpoon Coastal Defense Systems to Taiwan in a deal that has a potential value of up to $2.37 billion, the Pentagon said on Monday. "We deplore Beijing’s efforts to retaliate against U.S. and foreign companies for their sales that support Taiwan’s legitimate self-defense requirements," U.S. State Department spokeswoman Morgan Ortagus said in a statement. Monday's formal notifications to Congress by the State Department covered the proposed sale of up to 100 Harpoon Coastal Defense Systems (HCDS), which includes 400 RGM-84L-4 Harpoon Block II Surface Launched Missiles to serve as coastal defense cruise missiles.

• Charles Schwab Corp (SCHW). The company said on Monday it is laying off about 1,000 positions in the combined workforce of Charles Schwab and TD Ameritrade to streamline and reshape their branch network. "These reductions are part of our efforts to reduce overlapping or redundant roles across the two firms," Charles Schwab, which completed the acquisition of TD Ameritrade earlier in October, said. The financial services company also said it won't be executing any additional company-wide reductions for the rest of 2020. "Employees whose roles are impacted by today's changes will have early access to all newly opened positions and be treated as internal candidates for the more than 1,000 currently open positions at Schwab through their 60-day notice period", the company said on Monday.

• Citigroup Inc (C). Ireland's permanent tsb (PTSB) announced the sale of a portfolio of 3,700 buy-to-let mortgage accounts for a consideration of 1.2 billion euros to a subsidiary of U.S. bank Citibank. The sale of the loans, which are predominately on interest-only repayment terms, are classified as performing and have an average remaining term of 10 years, PTSB said in a statement. Citibank, which is making the purchase via Citibank NA London, intends to syndicate the portfolio via securitisation following completion of the acquisition, the PTSB statement said.

• dMY Technology Group Inc II (DMYD). Genius Sports Group said it would go public through a merger with New York-listed special purpose acquisition company (SPAC) dMY Technology Group, valuing it at about $1.5 billion, including debt. The boards of both the companies have unanimously approved the transaction, the company said in a statement. The new company is expected to trade its ordinary shares on the New York Stock Exchange under the symbol "GENI", upon closing of the deal, the company said.

• Goldman Sachs Group Inc (GS). The bank attempted to cover up allegations of workplace sexual misconduct by the company's global head of litigation, a lawsuit filed on Monday in New York State Supreme Court claimed. The lawsuit was filed by Marla Crawford, a former associate general counsel at the bank, against Goldman Sachs, the bank's General Counsel Karen Seymour and its Global Head of Litigation, Darrell Cafasso. The lawsuit claimed Cafasso used his position of power to "romantically prey upon a much younger and vulnerable female colleague." Crawford, who was a confidant of the alleged victim, attempted to speak up about the alleged misconduct, the lawsuit said, and was subsequently fired after 10 years of "exemplary performance."

• Las Vegas Sands Corp (LVS). The casino operator is exploring a sale of its flagship casinos in Las Vegas for about $6 billion, a source told Reuters on Monday, with the move likely to mark the exit of the group's chairman from the U.S. gambling industry for now. The properties included in the potential sale are Sands Expo Convention Center, the Venetian Resort Las Vegas and the Palazzo, the source added, asking not to be identified. Bloomberg reported earlier that Las Vegas Sands is working with an adviser to solicit interest from potential suitors, with a company representative cited by the news outlet confirming there were early discussions about a sale and that nothing has been finalised.

• Tiffany & Co (TIF). The jeweler has received all regulatory approvals needed for the completion of its $16 billion acquisition by French luxury goods group LVMH, Tiffany said on Monday after it received a nod from the European Commission. The approval from the European competition authorities comes amid a legal battle between LVMH and Tiffany, with the latter suing the Louis Vuitton owner in a Delaware court, alleging that the French company has deliberately been stalling the completion of the deal.

• Twitter Inc (TWTR). The social media company on Monday flagged a tweet by U.S. President Donald Trump about mail-in ballots, adding a disclaimer describing the post's content as "disputed" and potentially misleading. "Big problems and discrepancies with Mail In Ballots all over the USA. Must have final total on November 3rd", Trump tweeted late on Monday, with the tweet giving no evidence for his assertion. "Some or all of the content shared in this Tweet is disputed and might be misleading about how to participate in an election or another civic process", Twitter's disclaimer said. The disclaimer included a link to a page highlighting how mail voting was legal and safe.


INSIGHT
U.S. stock market braces for rocky week ahead of contentious U.S. election
Wall Street faces a rocky run-up to Election Day, with mounting worries about the outcome in Washington adding to nerves about the coronavirus pandemic and fading chances of stimulus.


ANALYSTS' RECOMMENDATION
• Amazon.com Inc (AMZN). Credit Suisse raises target price to $3,700 from $3,680, citing the company’s higher e-commerce segment operating margin and faster-than-expected free cash flow growth.

• Bank of New York Mellon Corp (BK). Jefferies raises target price to $45 from $44, noting the company’s organic growth opportunities and better earnings per share forecast.

• Cognizant Technology Solutions Corp (CTSH). JPMorgan raises target to $84 from $79, reflecting on the company’s higher sales growth forecast and improved earnings per share.

• Hasbro Inc (HAS). KeyBanc raises target price to $92 from $85, following the company’s better-than-expected third-quarter revenue and diversified product portfolio.

• Twilio Inc (TWLO). RBC raises target price to $400 from $375, stating the company’s robust third-quarter results and higher revenue guidance.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 (approx.) Durable goods for Sep: Expected 0.5%; Prior 0.5%
0830 (approx.) Durables ex-transport for Sep: Expected 0.4%; Prior 0.6%
0830 (approx.) Durables ex-defense mm for Sep: Prior 0.9%
0830 (approx.) Nondefense cap ex-air for Sep: Expected 0.5%; Prior 1.9%
0900 (approx.) Monthly home price mm for Aug: Prior 1.0%
0900 (approx.) Monthly home price yy for Aug: Prior 6.5%
0900 (aprrox.) Monthly Home Price Index for Aug: Prior 293.0
0900 Caseshiller 20 mm SA for Aug: Expected 0.5%; Prior 0.6%
0900 Caseshiller 20 mm NSA for Aug: Expected 0.5%; Prior 0.6%
0900 Caseshiller 20 yy for Aug: Expected 4.2%; Prior 3.9%
1000 (approx.) Consumer Confidence for Oct: Expected 102.0; Prior 101.8
1000 (approx.) Rich Fed Composite Index for Oct: Prior 21
1000 (approx.) Rich Fed, Services Index for Oct: Prior 6
1000 (approx.) Rich Fed Manufacturing Shipments for Oct: Prior 13
1030 (approx.) Texas Service Sector Outlook for Oct: Prior 11.5
1030 (approx.) Dallas Fed Services Revenues for Oct: Prior 14.0


COMPANIES REPORTING RESULTS
Aflac Inc (AFL). Expected Q3 earnings of $1.14 per share
Akamai Technologies Inc (AKAM). Expected Q3 earnings of $1.23 per share
Boston Properties Inc (BXP). Expected Q3 earnings of 51 cents per share
CH Robinson Worldwide Inc (CHRW). Expected Q3 earnings of 97 cents per share
Chubb Ltd (CB). Expected Q3 earnings of $2.19 per share
Cummins Inc (CMI). Expected Q3 earnings of $2.43 per share
DexCom Inc (DXCM). Expected Q3 earnings of 65 cents per share
DTE Energy Co (DTE). Expected Q3 earnings of $2.07 per share
Ecolab Inc (ECL). Expected Q3 earnings of $1.12 per share
Edison International (EIX). Expected Q3 earnings of $1.47 per share
Equity Residential (EQR). Expected Q3 earnings of 34 cents per share
Fiserv Inc (FISV). Expected Q3 earnings of $1.16 per share
Fortive Corp (FTV). Expected Q3 earnings of 87 cents per share
Franklin Resources Inc (BEN). Expected Q4 earnings of 68 cents per share
Juniper Networks Inc (JNPR). Expected Q3 earnings of 43 cents per share
Marketaxess Holdings Inc (MKTX). Expected Q3 earnings of $1.74 per share
Maxim Integrated Products Inc (MXIM). Expected Q1 earnings of 58 cents per share
Microsoft Corp (MSFT). Expected Q1 earnings of $1.54 per share
Old Dominion Freight Line Inc (ODFL). Expected Q3 earnings of $1.53 per share
ONEOK Inc (OKE). Expected Q3 earnings of 61 cents per share
Varian Medical Systems Inc (VAR). Expected Q4 earnings of $1.02 per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Brown & Brown Inc (BRO). Q3 earnings conference call
0800 Merck & Co Inc (MRK). Q3 earnings conference call
0800 OneMain Holdings Inc (OMF). Q3 earnings conference call
0800 Roper Technologies Inc (ROP). Q3 earnings conference call
0800 Sensata Technologies Holding PLC (ST). Q3 earnings conference call
0800 Stanley Black & Decker Inc (SWK). Q3 earnings conference call
0800 Waters Corp (WAT). Q3 earnings conference call
0815 Omnicom Group Inc (OMC). Q3 earnings conference call
0830 Caterpillar Inc (CAT). Q3 earnings conference call
0830 Centene Corp (CNC). Q3 earnings conference call
0830 Corning Inc (GLW). Q3 earnings conference call
0830 Neogenomics Inc (NEO). Q3 earnings conference call
0830 Raytheon Technologies Corp (RTX). Q3 earnings conference call
0830 S&P Global Inc (SPGI). Q3 earnings conference call
0900 3M Co (MMM). Q3 earnings conference call
0900 DTE Energy Co (DTE). Q3 earnings conference call
0900 Eli Lilly and Co (LLY). Q3 earnings conference call
0900 Invesco Ltd (IVZ). Q3 earnings conference call
0900 Laboratory Corporation of America Holdings (LH). Q3 earnings conference call
0900 Packaging Corp of America (PKG). Q3 earnings conference call
0930 TransUnion (TRU). Q3 earnings conference call
1000 American Campus Communities Inc (ACC). Q3 earnings conference call
1000 Cintas Corp (CTAS). Annual Shareholders Meeting
1000 Cummins Inc (CMI). Q3 earnings conference call
1000 Hubbell Inc (HUBB). Q3 earnings conference call
1000 Lincoln Electric Holdings Inc (LECO). Q3 earnings conference call
1000 Marketaxess Holdings Inc (MKTX). Q3 earnings conference call
1000 Old Dominion Freight Line Inc (ODFL). Q3 earnings conference call
1000 Pfizer Inc (PFE). Q3 earnings conference call
1000 Polaris Inc (PII). Q3 earnings conference call
1000 Principal Financial Group Inc (PFG). Q3 earnings conference call
1100 Cincinnati Financial Corp (CINF). Q3 earnings conference call
1100 Franklin Resources Inc (BEN). Q4 earnings conference call
1100 MSCI Inc (MSCI). Q3 earnings conference call
1100 Sherwin-Williams Co (SHW). Q3 earnings conference call
1200 Ares Capital Corp (ARCC). Q3 earnings conference call
1300 Ecolab Inc (ECL). Q3 earnings conference call
1500 Alexandria Real Estate Equities Inc (ARE). Q3 earnings conference call
1630 Akamai Technologies Inc (AKAM). Q3 earnings conference call
1630 DexCom Inc (DXCM). Q3 earnings conference call
1630 Edison International (EIX). Q3 earnings conference call
1630 Enphase Energy Inc (ENPH). Q3 earnings conference call
1630 First Solar Inc (FSLR). Q3 earnings conference call
1630 Masimo Corp (MASI). Q3 earnings conference call
1700 Advanced Micro Devices Inc (AMD). Q3 earnings conference call
1700 CoStar Group Inc (CSGP). Q3 earnings conference call
1700 Fiserv Inc (FISV). Q3 earnings conference call
1700 Juniper Networks Inc (JNPR). Q3 earnings conference call
1700 Lattice Semiconductor Corp (LSCC). Q3 earnings conference call
1700 Solarwinds Corp (SWI). Q3 earnings conference call
1700 Ultragenyx Pharmaceutical Inc (RARE). Q3 earnings conference call
1730 Fortive Corp (FTV). Q3 earnings conference call
1730 Microsoft Corp (MSFT). Q1 earnings conference call


EXDIVIDENDS
Aptargroup Inc (ATR). Amount $0.36
Bank of New York Mellon Corp (BK). Amount $0.31
Citizens Financial Group Inc (CFG). Amount $0.39
Entegris Inc (ENTG). Amount $0.08

Goedemorgen
Op Wall Street deze keer een slechte start van de week vooral door de slepende onderhandelingen rondom een nieuw steunpakket dat er maar niet komt en nu tot na de verkiezingen wordt opgeschoven. De markt reageerde daar negatief op samen met het als maar toenemende aantal nieuwe besmettingen met COVID-19 in de VS waar er opnieuw nieuwe records worden neergezet. Trump laat het aan zich voorbij gaan en praat er amper over, het zal vanzelf wel overwaaien zegt hij en een vaccin komt eraan. Een instelling die nergens op slaat maar ja, het is en blijft Trump natuurlijk, die denkt alleen maar aan zichzelf ... Het is nu afwachten tot over precies 1 week waar de kiezer dat mag bepalen, tenminste als alles normaal verloopt, Biden staat ruim voor maar je weet nooit hoe het loopt ...

Uiteindelijk sloot de De Dow Jones de sessie 2,2% lager af met een slotstand op 27.677 punten. De SP 500 zakt met 1,85% terug tot tot 3401 punten, de Nasdaq verloor 1,65% tot 11.358 punten. Ook de Dow Transport deed het slecht met een verlies van 2,3%. In Europa moest de AEX 1,5% inleveren terwijl de DAX door een stevige koersval van het aandeel SAP met maar liefst 3,7% terug. Een slechte start van de week met de meeste indices nu weer onder hun 20- en 50-daags gemiddelde, een negatief beeld dus maar met de volatiliteit van nu zegt dat nog niks, er kunnen nog heftige sessies tussen zitten de komende dagen zowel UP als DOWN ... De Nasdaq kon het 50-MA nog vasthouden op slotbasis.

Programma deze week:
Deze week staan er best nog wat belangrijke zaken op de rol terwijl we midden in de battle zitten tussen Trump en Biden waar de laatste nog steeds een ruime voorsprong blijft houden via de polls. Verder geraakt de VS nog steeds niet akkoord om een steunpakket los te laten en het lijkt er sterk op dat het pas na de verkiezingen zal gebeuren. Donderdag komt de ECB nog met een vergadering over de rente met daarna een persconferentie door Lagarde. Dus door cijfers, verkiezingen en steun voor de markten en de bevolking zie ik de markt nog wel op en neer bewegen ...

De kwartaalcijfers komen ook verder op gang, in de VS krijgen we vandaag nabeurs cijfers van Microsoft en AMD terwijl de grote 3 Amazon, Apple en Facebook donderdag nabeurs hun kwartaal resultaten presenteren. Zie hieronder het overzicht per dag wat betreft de kwartaalcijfers deze week ...

Binnen de AEX komen er ook wat grote spelers met cijfers, Shell, Heineken, KPN en KLM-Air France. Dan hebben we ook de grootste al gehad wat betreft de AEX want Unilever, Philips en ASML hebben we al achter de rug. Toch maar eens goed de AEX in de gaten houden de komende dagen want we blijven al een tijdje gevangen tussen de 540 en de 570 punten met onze index.

50- en 20-daags gemiddelde
Wat ik al aangaf zien we dat de meeste indices al onder hun 20- en 50-daags gemiddelde terecht komen behalve de Nasdaq en de Nasdaq 100 die nog net boven het 50-MA blijven. Europa staat er al sinds vorige week onder en gaan nog wat verder door omlaag, vooral de DAX ziet er slecht uit nu want de index laat het nu helemaal los. We blijven letten op dat 20- en 50-MA uiteraard, ook deze week zal dat belangrijk blijven. Een rebound of verder omlaag? Voorlopig zie ik nog wat kansen via Wall Street maar niks is zeker, we zitten nog met veel zaken die de markt deze week zullen blijven sturen ...

Euro, olie en goud:
De euro zien we rond de 1,1825 dollar uitkomen, de olie (Brent) herpakt zich vanmorgen met 1% vanmorgen tot 41,2 dollar. De prijs van het goud loopt wat op tot 1910 dollar per troy ounce.

US Markets Trading nu voor €39 tot 1 JANUARI 2021:
Maak gebruik van de nieuwe aanbieding die loopt tot het einde van dit beursjaar, ofwel tot 1 januari 2021 ... We hebben gisteren winst genomen op de lopende posities en staan in ieder geval voor deze maand oktober in de plus bij alle abonnementen. Ik blijf zoeken naar kansen in de markt en vrijdag werden er al wat kleine posities opgenomen voor de komende week. Die kunt u nog opnemen door lid te worden.

De markt blijft wel nog wat te moeilijk om met grotere posities te werken dus blijf ik het met kleine aantallen doen tot na de verkiezingen in de VS. De volatiliteit is wel stevig genoeg om ook met kleine posities te werken hetgeen we aan beide kanten merken. Op zich kunnen we ermee overweg maar wel blijf ik zeer alert in deze markt en moeten we waar het kan geduld blijven houden.

Meedoen kan nu via de speciale aanbieding tot 1 JANUARI voor €39, na uw inschrijving staat u meteen op de verzendlijst en ontvangt u de updates, de signalen en kunt u inloggen op onze Tradershop om alle posities LIVE te volgen.

Schrijf u in via https://www.usmarkets.nl/tradershop

Tot snel,

Guy Boscart

GLOBAL TOP NEWS
President Donald Trump reveled in one of his signature achievements on Monday at a White House ceremony to celebrate U.S. Senate confirmation of his third Supreme Court nominee, Amy Coney Barrett, eight days before the election.

The United States, Russia, France and many other countries are setting records for coronavirus infections as a tidal wave of cases washes over parts of the Northern Hemisphere, forcing some countries to impose new curbs.

With just a week to go until the Nov. 3 election, President Donald Trump and Democrat Joe Biden will criss-cross the country in an intense day of campaigning that will also see former President Barack Obama back on the stump.​


EUROPEAN COMPANY NEWS
HSBC said it plans to accelerate its restructuring plan, slashing costs further than previously suggested, flipping its model from generating income mainly from interest rates to fee-based business, and shrinking in size.

Tiffany has received all regulatory approvals needed for the completion of its $16 billion acquisition by French luxury goods group LVMH, the U.S. jeweler said on Monday after it received a nod from the European Commission.

Fiat Chrysler and PSA are set to win EU approval for their $38 billion merger to create the world's No.4 carmaker, people close to the matter said, as they strive to meet the industry's dual challenges of funding cleaner vehicles and the global pandemic.​


TODAY'S COMPANY ANNOUNCEMENTS
AB SKF Q3 2020 Earnings Release
Accrol Group Holdings PLC Annual Shareholders Meeting
Adevinta ASA Q3 2020 Earnings Call
Applus Services SA Q3 2020 Earnings Call
Atos SE Shareholders Meeting
Banco Santander SA Annual Shareholders Meeting
Banco Santander SA Q3 2020 Earnings Call
BAWAG Group AG Q3 2020 Earnings Call
BP PLC Q3 2020 Earnings Release
Brooks Macdonald Group PLC Annual Shareholders Meeting
Chubb Ltd Q3 2020 Earnings Release
City of London Investment Trust PLC Annual Shareholders Meeting
Costamare Inc Q3 2020 Earnings Release
Covestro AG Q3 2020 Earnings Release
Davide Campari Milano NV Q3 2020 Earnings Call
Dechra Pharmaceuticals PLC Annual Shareholders Meeting
Elkem ASA Q3 2020 Earnings Release
Ence Energia y Celulosa SA Q3 2020 Earnings Release
Eurocommercial Properties NV Fifth Quarter 2020 Earnings Release
First Derivatives PLC Q2 2021 Earnings Call
Glaston Oyj Abp Q3 2020 Earnings Release
Hotel Chocolat Group PLC Annual Shareholders Meeting
HSBC Holdings PLC Q3 2020 Earnings Call
IMA Industria Macchine Automatiche SpA Shareholders Meeting
Nine Months 2020 Indra Sistemas SA Earnings Release
ITAB Shop Concept AB Q3 2020 Earnings Release
Itera ASA Q3 2020 Earnings Call
Kemira Oyj Q3 2020 Earnings Release
Lassila & Tikanoja Oyj Q3 2020 Earnings Release
Liberbank SA Annual Shareholders Meeting
Luxfer Holdings PLC Q3 2020 Earnings Call
Mapfre Middlesea PLC Annual Shareholders Meeting
Mdundocom A/S Annual Shareholders Meeting
Mediobanca Banca di Credito Finanziario SpA Q1 2021 Earnings Release
Navigator Company SA Earnings Release
Nokian Tyres plc Q3 2020 Earnings Release
Novartis AG Q3 2020 Earnings Call
NXP Semiconductors NV Q3 2020 Earnings Call
Oriole Resources PLC Shareholders Meeting
Ossur hf Q3 2020 Earnings Call
Renalytix AI PLC Q4 2020 Earnings Call
Resurs Holding AB (publ) Q3 2020 Earnings Call
Rolls-Royce Holdings PLC Shareholders Meeting
Saga PLC Annual Shareholders Meeting
Scorpio Bulkers Inc Q3 2020 Earnings Call
Sequans Communications SA Q3 2020 Earnings Call
Solaria Energia y Medio Ambiente SA Annual Shareholders Meeting
Suominen Oyj Q3 2020 Earnings Release
Swedish Match AB Q3 2020 Earnings Release
TietoEVRY Corp Q3 2020 Earnings Release
Trafalgar Property Group PLC Annual Shareholders Meeting
Trelleborg AB Q3 2020 Earnings Release
Unicaja Banco SA Annual Shareholders Meeting
UPM-Kymmene Oyj Q3 2020 Earnings Release
Valmet Oyj Q3 2020 Earnings Release
Vattenfall AB Q3 2020 Earnings Release
XXL ASA Q3 2020 Earnings Release


ECONOMIC EVENTS (All times GMT)0745 France Producer Prices mm for September: Prior 0.1%0745 (approx.) France Producer Prices yy for September: Prior -2.5%0800 Spain Unemployment Rate for Q3: Expected 15.90%; Prior 15.33%0830 Sweden Household Lending Growth yy for September: Prior 5.2%0830 (approx.) Sweden Broad Money for September: Prior 4,063.25 bln SEK0830 Sweden Trade Balance for September: Prior -1.6 bln SEK0830 Sweden Exports for September: Prior 104.0 bln SEK0830 Sweden Imports for September: Prior 105.6 bln SEK0900 (approx.) Euro Zone Money-M3 Annual Growth for September: Expected 9.6%; Prior 9.5%0900 Euro Zone Loans to Households for September: Prior 3.0%0900 Euro Zone Loans to Non-Fin for September: Prior 7.1%0900 (approx.) Euro Zone Broad Money for September: Prior 14,017.39 bln EUR 1100 (approx.) France Unemployment Class-A SA for September: Prior 3,621,5001100 United Kingdom CBI Distributive Trades for October: Expected 1; Prior 11