Liveblog Archief vrijdag 10 juli 2020

TOP NEWS
• Pandemic-proofing: Insurance may never be the same again
Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis.
• IEA raises 2020 oil demand forecast but warns COVID-19 clouds outlook
The International Energy Agency (IEA) bumped up its 2020 oil demand forecast but warned that the spread of COVID-19 posed a risk to the outlook.
• Ford says restrictions at Mexico plants "not sustainable"
Ford on Thursday said new staffing restrictions imposed on plants producing car parts in the Mexican state of Chihuahua were "not sustainable," the latest sign U.S. automakers are still reeling from coronavirus lockdowns in Mexico.
• Amazon plans at least $100 million to keep Zoox talent after $1.3 billion deal
Amazon plans to create at least $100 million in stock awards to retain the 900-plus employees of Zoox, the self-driving car startup it offered to buy last month, and can walk away from the deal if large numbers of them turn down job offers from the technology giant.
• Goldman Sachs-backed payments startup Marqeta prepares for IPO -sources
Marqeta Inc, the U.S. payment card issuing start-up whose investors include Goldman Sachs, is seeking to hire investment banks to advise on a potential initial public offering (IPO), according to people familiar with the matter.


BEFORE THE BELL
Wall Street futures fell as a record increase in coronavirus cases in several U.S. states led to worries that more lockdowns may be necessary, disrupting business activity ahead of the start of the second quarter earnings season next week. Asian shares were in the red, while Italy's rebound after strong May industrial output data pulled European stocks out of loss. The dollar was little changed, while gold prices were higher. Oil dropped on virus resurgence worries and oversupply concerns. U.S. producer prices data for June is scheduled for release later in the day.


STOCKS TO WATCH
Moves
• Wells Fargo & Co (WFC). The bank said on Thursday it has hired Flagstar Bank's Kristy Fercho to run its mortgage division following the retirement of 23-year veteran Michael DeVito from the company. Fercho will oversee home lending operations of the largest mortgage lender in the United States during a time of uncertainty in the industry. "She has been an inspiring and vocal leader across the mortgage industry while driving transformational growth at Flagstar,” said Mike Weinbach, new CEO of Consumer Lending at Wells Fargo, referring to Fercho.

In Other News
• Amazon.com Inc (AMZN). The company plans to create at least $100 million in stock awards to retain the 900-plus employees of Zoox, the self-driving car startup it offered to buy last month, and can walk away from the deal if large numbers of them turn down job offers from the technology giant. Attempts to wrest Zoox or its talent away from Amazon started before the two even reached a definitive agreement. After Zoox signed an exclusive agreement to negotiate with Amazon but before they reached a deal, a third party stepped in to offer $1.05 billion, according to the deal documents.
• Cannae Holdings (CNNE) & CoreLogic Inc (CLGX). Cannae Holdings and Senator Investment Group, which are trying to buy property data and analytics company CoreLogic Inc, have hired a proxy solicitor, a source familiar with the matter said on Thursday. The source said the two firms tapped D.F. King two days after CoreLogic rejected their unsolicited $7 billion takeover bid. CoreLogic said it "is open to all viable paths to increasing shareholder value" and that it is "willing to meet with Senator and Cannae."
• Ford Motor Co (F). The carmaker on Thursday said new staffing restrictions imposed on plants producing car parts in the Mexican state of Chihuahua were "not sustainable," the latest sign U.S. automakers are still reeling from coronavirus lockdowns in Mexico. U.S. ambassador to Mexico Christopher Landau on Thursday said the Dearborn, Michigan-based automaker may have to shut some U.S. car plants as early as next week if they fail to receive Mexico-produced engines.
• Goldman Sachs Group Inc (GS). Marqeta Inc, the U.S. payment card issuing start-up whose investors include Goldman Sachs, is seeking to hire investment banks to advise on a potential initial public offering (IPO), according to people familiar with the matter. The IPO could come later this year or in 2021, the sources said. Marqeta raised $150 million in a private fundraising round in May, doubling its valuation to $4.3 billion. Banks have told the company it could go public at a considerably higher valuation, one of the sources said.


ANALYSIS
‘The Ultimate Hold’: Why Disney has investors stuck in place
Walt Disney Co is planning to reopen its Orlando-based Walt Disney World theme park on July 11, ending the longest shutdown of the company's highly profitable U.S. theme park division in its history. Yet investors remain wary that a reopening that includes attendance limits and strict social distancing rules will boost the company's shares, especially as record numbers of coronavirus cases limit the appeal of traveling to Florida.


ANALYSTS' RECOMMENDATION
• Beyond Meat Inc (BYND). Citigroup initiates coverage with sell rating and target price of $123, as the company has proven to be very successful at innovation, the addressable market is huge and foodservice is a great way for consumers to try the product, the company plans to price its products at a discount to traditional meat by 2024 and expects to become a lot more profitable over time, representing an attractive acquisition target.
• Harley-Davidson Inc (HOG). RBC raises rating to sector perform from underperform and raises target price to $28 from $19, believing that given aggressive inventory management in the second half of 2020, the setup for the company is favorable heading into 2021 given likely easy retail comps and the need to restock dealer inventories.
• Moelis & Co (MC). Piper Sandler cuts rating from to neutral from overweight and target price to $32 from $40, reflecting a reassessment of comp expense flexibility in this more challenged operating environment.
• Nvidia Corp (NVDA). Rosenblatt Securities raises target price to $500 from $400, as they see the secular shift to data processing units within the data center, the entrance into new markets and strategic partnerships helping to drive strong revenue growth over the coming years.
• Walgreens Boots Alliance Inc (WBA). JPMorgan cuts target price to $45 from $56, after the company reported Q3 adjusted EPS well below estimates, with the shortfall due to greater than expected COVID-19 related headwinds.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 PPI final demand yy for Jun: Expected -0.2%; Prior -0.8%
0830 PPI final demand mm for Jun: Expected 0.4%; Prior 0.4%
0830 PPI ex food/energy yy for Jun: Expected 0.4%; Prior 0.3%
0830 PPI ex food/energy mm for Jun: Expected 0.1%; Prior -0.1%
0830 PPI ex food/energy/transport yy for Jun: Prior -0.4%
0830 PPI ex food/energy/transport mm for Jun: Prior 0.1%


COMPANIES REPORTING RESULTS
Carnival Corp (CCL). Expected Q2 loss of $2.26 per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
1000 Carnival Corp (CCL). Q2 earnings conference call
1000 MongoDB Inc (MDB). Annual Shareholders Meeting
1200 PriceSmart Inc (PSMT). Q3 earnings conference call


EX-DIVIDENDS
Bank Ozk (OZK). Amount $0.27
Global Net Lease Inc (GNL). Amount $0.40
Hormel Foods Corp (HRL). Amount $0.23
Mack-Cali Realty Corp (CLI). Amount $0.20
Universal Corp (UVV). Amount $0.77
Waddell & Reed Financial Inc (WDR). Amount $0.25

Goedemorgen
Even een bedenking, Amazon nog 100 dollar hoger, Apple naar record en de Nasdaq pakt opnieuw 100 pluspunten erbij. Dat terwijl de Dow Jones en de SP 500 in moesten leveren, dat deed de Dow Transport ook. Verder zien we in de VS dat het virus steeds meer besmettingen veroorzaakt maar volgens Trump is er niks aan de hand, hij blijft het wegwuiven alsof alles onder controle is. Als hij het even moeilijk krijgt met vragen erover dan zegt hij dat hij bijna een vaccin heeft. Verder blijft de economie zwak en het herstel ziet er steeds minder goed uit. Mensen houden de hand op de knip, ook in de VS. Ik vraag me dan ook af waar we staan op dit moment, je moet altijd door de markt heen zien te kijken en wat we merken is dat deze markt op de "Headlines" draait, dat wil zeggen een beetje omlaag op slecht nieuws en vol gas vooruit op goed nieuws ook al is dat meestal iets wat amper wat toevoegt. En ja, dan zit je met Trump die het altijd goed probeert te doen overkomen maar vertel mij eens hoeveel procent van hetgeen hij zegt de waarheid is?

Vanmorgen zien we lagere futures, gisteren sloot Wall Street al verdeeld, eigenlijk lager op de tech aandelen na die wederom fors opliepen, althans sommigen ervan en dus vooral weer die TOP 5. Die zitten niet in de Dow 30 op 2 na (Apple en Microsoft) en die liepen dan ook niet zoveel op gisteren. Amazon dus wel.

De futures dus lager, het gaat om ongeveer 1% zo te zien op moment van schrijven, het moet allemaal nog open gaan straks, dan hebben we een echt overzicht over de start van de sessie. Europa moest wel al inleveren gisteren, de AEX verloor 5 punten terwijl de DAX amper moest inleveren maar de DAX verloor woensdag al behoorlijk. Als we op weekbasis kijken dan zien we bij de AEX en de DAX tot nu toe een klein verlies staan wat voor beiden ongeveer gelijk is. Bij de Nasdaq (+3,3%) en de Nasdaq 100 (+4%) zien we deze week een geheel ander verloop met dus wederom een forse plus. We moeten vandaag er nog bijdoen maar dat zien we vanavond wel.

We zitten in de markt, dat gaf ik de afgelopen dagen al aan. De posities zijn strategisch en die wil ik nog aanhouden al blijf ik opletten met het verloop van de markt. Waar het moet zal ik uitstappen maar de kans dat we hier een mooie positie hebben voor deze maand is groot. Meedoen kan nog door lid te worden via de aanbieding die loopt tot 1 SEPTEMBER voor €39 ...

Ga naar https://www.usmarkets.nl/tradershop

Tot straks ... Guy

GLOBAL TOP NEWS
More than 60,500 new COVID-19 infections were reported across the United States on Thursday, according to a Reuters tally, setting a one-day record as weary Americans were told to take new precautions and the pandemic becomes increasingly politicized.

The United States on Thursday imposed sanctions on the highest ranking Chinese official yet targeted over alleged human rights abuses against the Uighur Muslim minority, a move likely to further ratchet up tensions between Washington and Beijing.

China's aviation industry sank further into the red, losing $4.89 billion in the second quarter, only slightly narrower than in the first quarter, underlining the colossal financial impact from the coronavirus pandemic.


EUROPEAN COMPANY NEWS
Britain's retail industry urged UK and European negotiators to reach a post-Brexit trade deal, warning that without tariff-free trade, consumers face higher prices from next year.

Aerospace engineer Rolls-Royce burned through 3 billion pounds in the first half as the hours flown by its engines halved due to the COVID-19 pandemic, and said it expected a further 1 billion pound outflow in the second half.

Volkswagen's labour chief Bernd Osterloh has been on a roadshow to tell analysts and investors the carmaker has no need for deeper cost cuts in Germany.


TODAY'S COMPANY ANNOUNCEMENTS
Assetco PLC Shareholders Meeting
Atrium Ljungberg AB Q2 2020 Earnings Release
BioArctic AB HY 2020 Earnings Call
Bulten AB HY 2020 Earnings Call
Carnival Corp & Carnival PLC Q2 2020 Earnings Call
Entra ASA Q2 2020 Earnings Call
Europris ASA Q2 2020 Earnings Call
Hornbach Holding AG & Co KGaA Annual Shareholders Meeting
ITAB Shop Concept AB Q2 2020 Earnings Release
Kaufman & Broad SA Q2 2020 Earnings Call
Kitron ASA Q2 2020 Earnings Call
Melia Hotels International SA Annual Shareholders Meeting
Norwegian Property ASA Q2 2020 Earnings Presentation
Ocean Yield ASA Q2 2020 Earnings Presentation
OVS SpA Q1 2020 Earnings Call
Protector Forsikring ASA Q2 2020 Earnings Call
Q-Free ASA Q2 2020 Earnings Call
Urban Logistics Reit PLC Annual Shareholders Meeting
Westag & Getalit AG Annual Shareholders Meeting
Xvivo Perfusion AB Q2 2020 Earnings Call


ECONOMIC EVENTS (All times GMT)
0645 France Industrial Output mm for May: Expected 15.1%; Prior -20.1%
0800 Italy Industrial Output mm SA for May: Expected 22.8%; Prior -19.1%
0800 Italy Industrial Output yy WDA for May: Expected -32.5%; Prior -42.5%
1000 (approx.) Portugal CPI mm for Jun: Prior 0.9%
1000 (approx.) Portugal CPI yy for Jun: Prior 0.2%
1000 (approx.) Portugal CPI NSA for Jun: Prior 103.910
1000 (approx.) Portugal Global Trade Balance for May: Prior -4.282 bln EUR
1000 (approx.) Portugal Trade Balance 1-Month for May: Prior -1.131 bln EUR