Liveblog Archief maandag 27 juli 2020

TOP NEWS
• China seizes U.S. consulate in Chengdu, retaliating for Houston
China took over the premises of the U.S. consulate in the southwestern city of Chengdu, after ordering the facility to be vacated in retaliation for China's ouster last week from its consulate in Houston, Texas.
• U.S. Republicans to unveil coronavirus aid proposal as time runs out on jobless benefits
U.S. Senate Republicans are expected to unveil a $1 trillion coronavirus aid package hammered out with the White House, a starting point for negotiations with Democrats as unemployment benefits that have kept millions Americans afloat are set to expire.​
• Big restaurant chains could see sales rebound this week
McDonald's, Starbucks, Yum Brands and other big restaurant chains could show improving sales, based on early results from rivals such as Chipotle that improved despite dining rooms shuttered for months.
• Hasbro misses profit estimates as lockdowns fuel production delays
Hasbro missed analysts' estimates for quarterly earnings and revenue, hit by production shutdowns due to coronavirus lockdowns and delays in the release of Hollywood movies linked to its action figures.
• Australian regulator says Google misled users over data privacy issues
Australia's competition regulator accused Google of misleading consumers to get permission for use of their personal data for targeted advertising, seeking a fine "in the millions" and aiming to establish a precedent.


BEFORE THE BELL
U.S. stock index futures rose, as bets on a more dovish outlook from the Federal Reserve brightened the mood ahead of a heavy earnings week.European shares slipped after Britain imposed a quarantine on travellers returning from Spain while losses were capped by German data, which showed an improvement in business morale. Asian shares were choppy, as investors remained jittery over tensions between U.S. and China, and rising number of coronavirus cases. Gold prices soared, while the dollar index fell. Oil prices edged lower. Durable goods data is on the economic radar. ​


STOCKS TO WATCH
Results
• Cemex SAB de CV (CX). The Mexican cement producer reported a loss for the second quarter, hurt by sales declines across most of its markets due to coronavirus-led lockdowns. Net loss was $44 million in the second quarter, compared with a profit of $155 million a year earlier. The United States, Cemex's biggest market, was the only region to report positive sales growth of 1%. "In the quarter, we saw a rapid V-shaped volume recovery in our core products from trough levels in April, reaching slightly below pre-COVID-19 volumes in June," Chief Executive Officer Fernando González said.​
• Hasbro Inc (HAS). The toymaker missed analysts' estimates for quarterly earnings and revenue, hit by production shutdowns due to coronavirus lockdowns and delays in the release of Hollywood movies linked to its action figures. The company swung to net attributable loss of $33.9 million in the second quarter ended June 28, compared to a profit of $13.4 million a year earlier. Excluding items, the company earned 2 cents per share, missing the average analyst estimate of 23 cents. Net revenue fell 12.6% to $860.3 million, missing analysts' estimate of $992.2 million.​
• ICICI Bank Ltd (IBN). The Indian bank on Saturday reported a quarterly profit that missed analyst estimates as its provisions for bad loans rose sharply to account for the impact of the coronavirus pandemic. Net profit at the country's second-largest private lender for the quarter ending June 30 was $347.69 million compared with a profit of $255.25 million in the same period a year ago, the bank said in a regulatory filing. The total capital adequacy ratio of the bank was at 16.32% while asset quality improved marginally with gross bad loans at 5.46% compared with 5.53% in the quarter ended March. Net non-performing assets also fell to 1.23% from 1.41%.​
• Ryanair Holdings PLC (RYAAY). The Irish airlines cut its annual passenger target by a quarter and warned a second wave of COVID-19 infections could lower that further, sending its shares down 8% despite reporting a smaller than expected loss during its April-June lockdown. The company posted an after-tax loss of $216.54 million for the three months to June 30. That was its first-ever loss in the quarter, but less than the 232 million euros forecast in a company poll of analysts. Revenue was down 95% in the first quarter, while costs were down by 85%. It hopes to fly 60% of its normal schedule in August and 70% in September.​

In Other News
• Alibaba Group Holding Ltd (BABA). An Indian court has summoned the company and its founder Jack Ma in a case in which a former employee in India says he was wrongfully fired after objecting to what he saw as censorship and fake news on company apps, documents seen by Reuters showed. In court filings dated July 20 and previously not reported, the former employee of Alibaba's UC Web, Pushpandra Singh Parmar, alleges the company used to censor content seen as unfavourable to China and its apps UC Browser and UC News showcased false news "to cause social and political turmoil". The judge has also sought written responses from the company and its executives within 30 days, according to the summons.
• Alphabet Inc (GOOGL). Australia's competition regulator accused Google of misleading consumers to get permission for use of their personal data for targeted advertising, seeking a fine "in the millions" and aiming to establish a precedent. "This change ... was worth a lot of money to Google," said commission chairman Rod Sims. "We allege they've achieved it through misleading behaviour." The change allowed Google to link the browsing behaviour of millions of consumers with their names and identities, providing it with extreme market power, the regulator added.
• Amazon.com Inc (AMZN). The company announced it would create an additional 1,000 jobs in Ireland, bringing its workforce in the country to 5,000. Many of the new jobs, which include software and network engineers, will be in Amazon Web Services, which has a large presence in Ireland, Amazon said in a statement. Amazon also plans to open a delivery station in Dublin this year, it said.
• ArcelorMittal SA (MT). Twenty-one workers at a steel plant owned by the steel producer in the Mexican port city of Lazaro Cardenas have died from COVID-19, the steelworkers' trade union said Saturday. The dead include employees, contractors and suppliers to the plant, said Carlos Solorio, secretary general of the local branch of the national mining and metallurgical workers' union. Solorio said the 21 deaths had occurred since April, and that the workers likely contracted the virus outside the plant, given the strict sanitary protocols adopted by the firm.
• AstraZeneca PLC (AZN). The company will pay up to $6 billion to Japan's Daiichi Sankyo under the drugmakers' second multi-billion dollar oncology collaboration to develop and market a niche type of targeted cancer treatment. London-listed AstraZeneca said on Monday it would make an upfront payment of $1 billion to Daiichi for an experimental drug called DS-1062, which belongs to a newer class of treatments called antibody drug conjugates (ADC). Further payments would depend on regulatory and sales milestones being achieved.
• HSBC Holdings PLC (HSBC). The bank on Saturday denied Chinese media reports that it had "framed" Huawei Technologies and played a role in the arrest of the chief financial officer (CFO) of the world's biggest telecoms equipment maker. "The context of the development of the Huawei incident clearly shows that the U.S. investigation of Huawei was not triggered by HSBC," the bank said in its WeChat post, without directly referring to the People's Daily report. "In response to information requests from the U.S. Department of Justice, HSBC only provided factual information."
• Moderna Inc (MRNA). The drugmaker said on Sunday it has received an additional $472 million from the U.S. government's Biomedical Advanced Research and Development Authority (BARDA) to support development of its novel coronavirus vaccine. The company said the additional funding will support its late-stage clinical development including the expanded Phase 3 study of Moderna's vaccine candidate. A Phase 3 study, conducted in collaboration with the National Institute of Allergy and Infectious Diseases, will begin on July 27 and involve about 30,000 participants, according to the company. Separately, the company said said on Friday its formula used in developing a COVID-19 vaccine was not covered under patents owned by Arbutus Biopharma.
• Novartis AG (NVS). The Swiss drugmaker's Sandoz division and the Austrian government will invest about 150 million euros ($176 million) to shore up antibiotics production at a plant in Tyrol, the company said. Sandoz plans to strengthen the competitiveness of its antibiotic manufacturing operations at Kundl by developing technology for active pharmaceutical ingredients and finished dosage forms, it said. Under the plan still subject to formal approvals by both parties, the Austrian government would line up public funding worth about 50 million euros towards the total investment.
• SAP SE (SAP). The business software group plans to spin off and float Qualtrics, the U.S. specialist in measuring online customer sentiment that it acquired less than two years ago for $8 billion. Investors reacted by pushing SAP shares 3.9% higher, closing in on record highs, as Klein sought to close a chapter of management turmoil triggered by the Qualtrics deal. SAP would keep control over and consolidate Qualtrics, which it still sees as a key part of its "Intelligent Enterprise" proposition that spans everything from finance to personnel, logistics and customer relationship management.
• Uber Technologies Inc (UBER). French supermarket retailer Carrefour and Uber Eats said they were rolling out their home delivery partnership nationwide and to Belgium. As of July 20, it had been expanded to 330 stores, the statement said. Outside France, Carrefour, which already has a home delivery partnership with Uber Eats in Taiwan, will launch the service in September in Belgium.
• Zebra Technologies Corp (ZBRA). The Israeli medical imaging analytics company said it received clearance from the U.S. Food and Drug Administration for its mammography technology. The company's latest cleared product uses artificial intelligence to prioritize and identify suspicious mammograms. The mammograms are automatically sent to Zebra's platform, where they are processed and analysed for suspected breast lesions. The HealthMammo product then returns its result to the radiologist. Zebra said its technology can help clear the backlog of mammograms that has resulted from the coronavirus crisis, which forced many tests to be postponed or cancelled.


INSIGHT
The U.S. has more COVID-19 testing than most. So why is it falling so short?
The United States might have more COVID-19 testing capacity than any other country. So why have we seen laboratories overwhelmed and many patients again waiting a week or more for results? At the heart of the crisis is a reliance by public and private labs on automated testing equipment that locks them in to using proprietary chemical kits and other tools made by a handful of manufacturers.


ANALYSTS' RECOMMENDATION
• Apple Inc (AAPL). JPMorgan raises target price to $425 from $365, forecasting improved volume expectations for iPhone SE, iPhone 11, Macs and iPads, led by work from home and online learning trends.
• Archer-Daniels-Midland Co (ADM). Credit Suisse cuts target price to $39 from $40, citing weaker demand for ethanol and corn sweeteners which are likely to pose as obstacles for the company.
• Honeywell International Inc (HON). Jefferies raises target price to $175 from $170, reflecting on better than expected sales in the second quarter.
• Procter & Gamble Co (PG). Jefferies raises target price to $148 from $140, expecting the company to report strong fourth-quarter results supported by demand in the U.S. and recovery in China.
• Schlumberger NV (SLB). JPMorgan raises target price to $19 from $17, after the company's EPS beat estimates in the second-quarter.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 Durable goods for Jun: Expected 7.2%; Prior 15.7%
0830 Durables ex-transport for Jun: Expected 3.5%; Prior 3.7%
0830 Durables ex-defense mm for Jun: Prior 15.3%
0830 Nondefense cap ex-air for Jun: Expected 2.3%; Prior 1.6%​


COMPANIES REPORTING RESULTS
Alexandria Real Estate Equities Inc (ARE). Expected Q2 earnings of 53 cents per share
Avery Dennison Corp (AVY). Expected Q2 earnings of $1.13 per share
Cincinnati Financial Corp (CINF). Expected Q2 earnings of 39 cents per share
F5 Networks Inc (FFIV). Expected Q3 earnings of $2.04 per share
National Oilwell Varco Inc (NOV). Expected Q2 loss of 14 cents per share
Principal Financial Group Inc (PFG). Expected Q2 earnings of $1.30 per share
Universal Health Services Inc (UHS). Expected Q2 earnings of 74 cents per share​


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Linde PLC (LIN). Annual Shareholders Meeting
0830 Hasbro Inc (HAS). Q2 earnings conference call
1000 Lincoln Electric Holdings Inc (LECO). Q2 earnings conference call
1000 RPM International Inc (RPM). Q4 earnings conference call
1100 Albertsons Companies Inc (ACI). Q1 earnings conference call
1300 Avery Dennison Corp (AVY). Q2 earnings conference call
1630 F5 Networks Inc (FFIV). Q3 earnings conference call​


EXDIVIDENDS
Fastenal Co (FAST). Amount $0.25

Goedemorgen
Het ziet er naar uit dat de week positief zal opstarten, de vraag is natuurlijk of de plussen kunnen worden vastgehouden in de loop van de sessie en de komende dagen waar een en ander op ons afkomt. Dan heb ik het over kwartaalcijfers, de FED en uiteraard ook weer een reeks economische data zowel in de VS als hier in Europa. Het zwaartepunt zal zoals ik al aangaf in de weekendupdate liggen tussen woensdag en donderdag, vooral donderdag nabeurs wordt de soep heet opgediend met nabeurs cijfers van Apple, Amazon en Alphabet (Google) welke meteen de 3 bedrijven uit de TOP 5 van de VS zijn. Een overzicht van de cijfers deze week heb ik in de LIVEBLOG geplaatst ...

Nog 2 dingen die opvallen nu zijn het goud en de dollar, de dollar verliest snel waarde ten opzichte van andere valuta door dat de VS te veel aan het printen is. Het gevolg daarvan is dat ook het goud stevig oploopt de afgelopen dagen en vandaag een nieuw record neerzet op 1936 dollar, het zilver volgt uiteraard deze weg ook gestaag. De euro werd behoorlijk wat duurder ten opzichte van de dollar aangezien we vandaag de 1,17 dollar al hebben aangetikt. Zit er een soort verborgen inflatie in de markt die er nog uit moet komen? Je zou het haast gaan denken met het verloop wat ik aangaf. Opletten dus, in dit soort situaties weet je niet zo goed hoe zich dat zal uiten bij het verdere verloop. Geldcreatie kan naast dit soort problemen ook de bubbel nieuwe lucht inblazen, niet dat het terecht is maar het is wel iets vreemds dat velen doet zoeken naar een veilige haven en dan denkt men ook aan de aandelen. Terecht is het niet maar wel is het zo dat het landschap behoorlijk mistig aan het worden is.

Naast het goud ziet men ook de Bitcoin als alternatief blijkbaar, voor het eerst sinds ergens in juni geraakt de digitale munt weer boven de 10.000 dollar. En zo krijg je op een maandag weer het een en ander op je bordje, deze maandag wel een vreemde MIX dus ...

Vrijdag had ik de posities al gesloten, wel met een hele mooie winst (Systeem Trading zelfs bijna €1000 en Guy Trading richting de €2000) maar door dat ik tussendoor had moeten door rollen naar een andere stop hadden we al wat verlies op papier voor de maand juli. In ieder geval ziet het er voor deze maand nu beter uit, ik richt me nu op weer wat nieuwe kansen, nieuwe posities met kansen. Aan de volatiliteit zal het in ieder geval niet liggen want die blijft. Voorzichtig zal ik wat kansen zoeken bij de indexen en waar het kan ook op wat aandelen maar de Timing zal goed moeten zijn. Om meet te doen kan dat nu tot 1 OKTOBER voor €39 ... Inschrijven kan via de website waar u de Tradershop ziet ... Ga naar https://www.usmarkets.nl/tradershop

Tot straks ... Guy

GLOBAL TOP NEWS
China said it had taken over the premises of the U.S. consulate in the southwestern city of Chengdu on Monday after ordering the facility be shut in retaliation for being ousted from the Chinese consulate in Houston, Texas.

Top aides to U.S. President Donald Trump said they agreed in principle with Senate Republicans on a $1 trillion coronavirus relief package -- the party's opening offer in negotiations with Democrats less than a week before enhanced unemployment benefits expire.

An Indian court has summoned Alibaba and its founder Jack Ma in a case in which a former employee in India says he was wrongfully fired after objecting to what he saw as censorship and fake news on company apps, documents seen by Reuters showed.


EUROPEAN COMPANY NEWS
Germany must toughen its rules for auditing and accounting to prevent another billion-euro scam like the Wirecard scandal, Bundesbank President Jens Weidmann said in a newspaper interview.

Business software group SAP said it planned to float Qualtrics, the U.S. specialist in measuring online customer sentiment, which it acquired in late 2018 for $8 billion.

Italian state lender Cassa Depositi e Prestiti could buy a controlling stake in Atlantia's motorway unit Autostrade in an initial public offering to allay investors concerns over the price of the asset, a source close to the matter said.


TODAY'S COMPANY ANNOUNCEMENTS
Aeroports de Paris SA HY 2020 Earnings Release
Almirall SA HY 2020 Earnings Call
Ascential PLC HY 2020 Earnings Call
Atos SE HY 2020 Earnings Call
Axway Software SA HY 2020 Earnings Call
BMIT Technologies plc Annual Shareholders Meeting
BMO UK High Income Trust PLC Annual Shareholders Meeting
Cambridge Cognition Holdings PLC Annual Shareholders Meeting
CEMEX Latam Holdings SA Q2 2020 Earnings Call
City Pub Group PLC Annual Shareholders Meeting
Columbus Energy Resources PLC Shareholders Meeting
Compagnie Generale des Etablissements Michelin SCA HY 2020 Earnings Call
Costamare Inc Q2 2020 Earnings Release
Edenred SA HY 2020 Earnings Call
Faurecia SE HY 2020 Earnings Call
Galp Energia SGPS SA Q2 2020 Earnings Call
Iamfire PLC Annual Shareholders Meeting
Imerys SA HY 2020 Earnings Call
Italgas SpA Q2 2020 Earnings Call
Koninklijke KPN NV Q2 2020 Earnings Call
Laboratorios Farmaceuticos ROVI SA HY 2020 Earnings Call
Luxfer Holdings PLC Q2 2020 Earnings Release
LVMH Moet Hennessy Louis Vuitton SE HY 2020 Earnings Call
Mercialys SA HY 2020 Earnings Release
Moncler SpA HY 2020 Earnings Call
National Grid PLC Annual Shareholders Meeting
NXP Semiconductors NV Q2 2020 Earnings Release
Piaggio & C SpA HY 2020 Earnings Call
Recipharm AB (publ) Q2 2020 Earnings Call
Ryanair Holdings PLC Q1 2021 Earnings Call
SAP SE Q2 2020 Earnings Call
Sogefi SpA HY 2020 Earnings Call
Spaceandpeople PLC Shareholders Meeting
Tectonic Gold PLC Annual Shareholders Meeting
Tekcapital PLC Annual Shareholders Meeting
Ucb SA Q2 2020 Earnings Call


ECONOMIC EVENTS (All times GMT)
0730 Sweden Household Lending Growth yy for Jun: Prior 5.1%
0730 (approx.) Sweden Broad Money for Jun: Prior 3,974,330 mln SEK
0800 (approx.) Germany Ifo Business Climate New for Jul: Expected 89.3; Prior 86.2
0800 (approx.) Germany Ifo Curr Conditions New for Jul: Expected 85.0; Prior 81.3
0800 (approx.) Germany Ifo Expectations New for Jul: Expected 93.7; Prior 91.4
0800 (approx.) Euro Zone Money-M3 Annual Growth for Jun: Expected 9.3%; Prior 8.9%
0800 Euro Zone Loans to Households for Jun: Prior 3.0%
0800 Euro Zone Loans to Non-Fin for Jun: Prior 7.3%
0800 (approx.) Euro Zone Broad Money for Jun: Prior 13,790,007 mln EUR