Liveblog Archief vrijdag 14 augustus 2020

TOP NEWS
• China's economic recovery underwhelms as consumer comeback stays elusive
China's retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world's second-largest economy failed to shake off wariness about the coronavirus, while the factory sector's recovery struggled to pick up pace.
• ANALYSIS-A faltering U.S.-China trade deal is now the nations' strongest link
Top U.S. and Chinese trade officials are expected to recommit to a Phase 1 trade deal during a review on Saturday, even though China's promised purchases of U.S. exports are far behind schedule.
• U.S. to make coronavirus strain for possible human challenge trials
U.S. government scientists have begun efforts to manufacture a strain of the novel coronavirus that could be used in human challenge trials of vaccines, a controversial type of study in which healthy volunteers would be vaccinated and then intentionally infected with the virus, Reuters has learned.​
• Fortnite maker sues Apple, Google after removal of game from app stores
Apple and Google removed popular video game "Fortnite" from their app stores for violating the in-app payment guidelines, prompting developer Epic Games to file federal antitrust lawsuits challenging their rules.
• Google stops responding directly to data requests from Hong Kong government
Google said it would no longer provide data in response to requests from Hong Kong authorities following the enactment of a new national security law imposed by China.


BEFORE THE BELL
U.S. stock index futures retreated with attention turning to retail sales figures for signs of a domestic rebound after Chinese figures pointed to a wobbly economic recovery from the COVID-19 pandemic. European shares slipped after Britain added more countries from the continent to its quarantine list. Asian equities ended on a mixed note. Gold prices fell as a rally in U.S. treasuries and a steady dollar prompted a sell-off in bullion following a steep retreat from record peaks. Oil slipped over demand recovery fears and rising supply. ​


STOCKS TO WATCH
Results
• Applied Materials Inc (AMAT). The company forecast fourth-quarter revenue above analysts' estimates on Thursday as demand rebounds for semiconductor equipment and services from the coronavirus-driven slump, and predicted sustained spending into 2021. The company expects current-quarter revenue to be about $4.60 billion, plus or minus $200 million, above analysts' expectation of $4.36 billion. Net sales rose 23% to $4.40 billion in the third quarter ended July 26, beating analysts' average estimates of $4.18 billion. Revenue from semiconductor systems, which supplies gears to chipmakers, surged 28% to $2.92 billion.
• Baidu Inc (BIDU). The Chinese search engine giant posted quarterly revenue a notch ahead of estimates, but its shares slid in extended trade after its streaming service iQIYI said it was being probed by the U.S. Securities and Exchange Commission. Baidu's second-quarter revenue fell 1% to 26.0 billion yuan from the same period a year earlier but was better than an average analyst estimate of 25.7 billion yuan. It forecast third-quarter revenue of 26.3 billion yuan to 28.7 billion yuan, in line with estimates and which compares with 28.0 billion yuan for the same quarter a year ago.​

IPOs
• CureVac BV (CVAC). The company said it raised $213.3 million in its initial public offering in New York, setting the stage for the first stock market debut of a company developing a potential vaccine to combat the coronavirus. The German biotechnology firm, sold 13.33 million shares at $16 apiece, the top end of its indicated price range of between $14 and $16 per share. Bank of America, Jefferies, and Credit Suisse are lead underwriters on the IPO. CureVac shares are due to start trading on Nasdaq on Friday under the symbol 'CVAC'.​

In Other News
• Alphabet Inc (GOOGL). Google said it would no longer provide data in response to requests from Hong Kong authorities following the enactment of a new national security law imposed by China. The U.S. tech giant had not produced any data since the sweeping new law took force in June and would not directly respond to such requests henceforth, it added. Meanwhile, the U.S. Justice Department is moving "full-tilt" on its antitrust investigation of Google and other Big Tech platforms, the department's second-ranking official told Reuters. "We are going full-tilt. It's a major priority," Deputy Attorney General Jeff Rosen said. "We have a great team working really hard to get on top of the documents, hearing from people in the industry and the like."
• Alphabet Inc (GOOGL) & Apple Inc (AAPL). Apple and Google on Thursday removed popular video game "Fortnite" from their app stores for violating the in-app payment guidelines, prompting developer Epic Games to file federal antitrust lawsuits challenging their rules. Apple and Google cited a direct payment feature rolled out on the Fortnite app earlier in the day as the violation. Epic sued in U.S. court seeking no money from Apple or Google, but rather injunctions that would end many of the companies' practices related to their app stores.
• Amazon.com Inc (AMZN). The company can be held liable like other traditional retailers for injuries from defective products sold via its sprawling e-commerce marketplace, a California state appeals court ruled on Thursday. The decision overturned a San Diego Superior Court ruling that the retailer was shielded from liability because it acted as a service provider, which is not subject to California product liability law. Meanwhile, Amazon.com launched an online pharmacy in India to serve the southern city of Bengaluru, the latest move by the e-commerce giant to widen its reach in a key growth market.
• American International Group Inc (AIG). The insurer on Thursday promoted David McElroy to the post of chief executive officer of general insurance and executive vice president with immediate effect. McElroy, who was president and chief executive officer of the North American operations of general insurance at AIG, will also join the AIG executive leadership team and report to Peter Zaffino, the insurer's president and global chief operating officer.
• Carnival Corp (CCL). Health officials in Australia's most populous state made "unjustifiable" and "inexcusable" mistakes which allowed cruise ship passengers with COVID-19 to disembark in central Sydney, an inquiry said. The Carnival-owned Ruby Princess was for a time Australia's biggest single source of infection, with more than 600 cases and over 20 deaths directly linked to those passengers. Some 2,700 passengers, 120 of whom were feeling unwell, were allowed to leave the ship on March 19, helping spread the virus across the country and internationally.
• Hertz Global Holdings (HTZ). A former chief executive of Hertz Global will pay $2.18 million to settle U.S. Securities and Exchange Commission charges he failed to reimburse incentive-based pay to the rental car company following a financial restatement. Without admitting or denying wrongdoing, Mark Frissora agreed to pay $1.98 million to Hertz and a $200,000 civil fine to the SEC, according to settlement papers filed on Thursday with the federal court in Newark, New Jersey.
• Johnson & Johnson (JNJ) & Novavax Inc (NVAX). Britain will buy potential COVID-19 vaccines from U.S. drugmakers Johnson & Johnson and Novavax, the companies said, boosting the number of deals it has with drugmakers as the global vaccine race rages on. Johnson & Johnson said its Janssen Pharmaceutica unit will supply the British government with its candidate known as Ad26.COV2.S with an initial sale of 30 million doses on a not-for-profit basis for emergency pandemic use. The advance purchase agreement will also provide an option for an additional purchase of up to a 22 million doses, it said. Novavax said Britain would buy 60 million doses of its coronavirus vaccine candidate, NVX-CoV2373, for a phase 3 clinical trial.​


COLUMN
Debt mountain meets population cliff : Mike Dolan
Hopes the world economy can grow itself out of the mountain of debt being accumulated during this year's pandemic shock may have failed to factor in the uncomfortable prospect of a peaking population within the next 50 years.


ANALYSTS' RECOMMENDATION
• Applied Materials Inc (AMAT). JPMorgan raises target price to $84 from $78, after the company reported better than expected third-quarter revenue driven by semiconductor sales.
• Bunge Ltd (BG). Credit Suisse raises target price to $53 from $50, citing positive industry conditions with upward revisions for U.S. crop, improving vegetable oil demand and strong grain exports to China.
• Farfetch Ltd (FTCH). KeyBanc raises target price to $32 from $25, saying the company is well positioned to take advantage of the shift to online luxury retailing.
• Globant SA (GLOB). Piper Sandler raises target price to $193 from $181, after the company's second-quarter earnings beat estimates.
• II-VI Inc (IIVI). Canaccord Genuity raises target price to $67 from $52, following the company's strong fourth-quarter results. ​


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 Labor costs preliminary for Q2: Expected 6.2%; Prior 5.1%
0830 Productivity preliminary for Q2: Expected 1.5%; Prior -0.9%
0830 Retail sales ex-autos mm for Jul: Expected 1.3%; Prior 7.3%
0830 Retail sales mm for Jul: Expected 1.9%; Prior 7.5%
0830 Retail control for Jul: Expected 0.8%; Prior 5.6%
0915 Industrial production mm for Jul: Expected 3.0%; Prior 5.4%
0915 Capacity utilization SA for Jul: Expected 70.3%; Prior 68.6%
0915 Manufacturing output mm for Jul: Expected 3.0%; Prior 7.2%
1000 Business inventories mm for Jun: Expected -1.2%; Prior -2.3%
1000 U Mich Sentiment Preliminary for Aug: Expected 72.0; Prior 72.5​


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


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0730 Majesco Ltd (MAJCS). Q1 earnings conference call
0830 Draftkings Inc (DKNG). Q2 earnings conference call


EXDIVIDENDS
Amerisourcebergen Corp (ABC). Amount $0.42
Amgen Inc (AMGN). Amount $1.60
Bunge Ltd (BG). Amount $0.50
CF Industries Holdings Inc (CF). Amount $0.30
Chemed Corp (CHE). Amount $0.34
CNA Financial Corp (CNA). Amount $0.37
Dolby Laboratories Inc (DLB). Amount $0.22
Donaldson Company Inc (DCI). Amount $0.21
Gaming and Leisure Properties Inc (GLPI). Amount $0.60
Jefferies Financial Group Inc (JEF). Amount $0.15
Kemper Corp (KMPR). Amount $0.30
KKR & Co Inc (KKR). Amount $0.13
KLA Corp (KLAC). Amount $0.90
MSA Safety Inc (MSA). Amount $0.43
National Instruments Corp (NATI). Amount $0.26
Oshkosh Corp (OSK). Amount $0.30
Rockwell Automation Inc (ROK). Amount $1.02
Southern Co (SO). Amount $0.64
Woodward Inc (WWD). Amount $0.08​

Goedemorgen
Wat wordt de volgende fase voor wat betreft de aandelenmarkt? De S&P 500 kan de top van begin dit jaar niet overtreffen tot nu toe, ook niet via de FAANG aandelen die er een schepje bovenop doen momenteel want we zien dat door sector rotatie andere sectoren wat beginnen in te leveren. En zo blijft het al een tijdje, niet veel duidelijkheid, geen echte drang naar nog hogere standen op dit moment en zoals we al dagen, zelfs weken zien een markt die hopt tussen diverse sectoren om een daling in de algemene zin tegen te houden. Dat wil wel zeggen dat de TOP-5 ofwel de FAANG groep de markt stabiel moet zien te houden. Op zich is dat vrij makkelijk omdat deze groep meer dan 25% van de waarde van de S&P 500 voor zich neemt en binnen de Nasdaq 100 zelfs richting de helft aan het oplopen is, zeker als we er Nvidia nog bijzetten ...

Kijk, het gaat er niet om wanneer het zal draaien maar eerder door wat en vooral door wie. Dat die TOP-5 in een BUBBEL zit lijkt me meer dan duidelijk, als daar het grote moment komt dat het over en uit is, de BUBBEL uiteen spat, dan gaan we zien waar de echte waarde uit gaat komen. Let wel, die hoogvlieger kunnen makkelijk, en ik ben er van overtuigd dat ze ZEER makkelijk 15-20% of zelfs 25% omlaag kunnen, zelfs een halvering van de koers zou kunnen. En dan met aandelen die 25% van de S&P 500 en bijna 50% van de Nasdaq 100 omvatten, in beurswaarde wel te verstaan, dan moet u eens zien wat er met deze indexen gaat gebeuren ... Ik zeg het maar, alleen kan ik niet zeggen wanneer dit zich zal voordoen, ik weet alleen dat het elke dag, elke week wordt ingekort dat moment. Wat ik wel wil is in de markt zitten op dat moment en voor een tijdje ... Hoe dan ook, let op want dit gaat hoe dan ook niet goed aflopen.

Europa zit zoals ik eerder al aangaf niet zo met dat probleem, hier krijgen we wel normale sessies op een uitzondering na, hier zien we niet van dit soort hoogvliegers die de markt in de greep houden. Wel is het zo dat de AEX een tijdje in de greep van ASML zat maar dat aandeel begint al een tijdje af te koelen. Verder zien we binnen de AEX nog genoeg bedrijven die toe zijn aan een correctie, aan de andere kant zijn er nog bedrijven die vanaf de bodem in maart niks zijn opgeschoten. Denk aan Unibail, Shell en nog een paar ... Ook de DAX blijft al een tijdje hangen, wel afgewisseld met goeie en mindere dagen maar geen nieuwe toppen meer voorlopig. Alles zal dus afhangen van wat er op Wall Street zal gebeuren, wat de TOP-5 nog in petto heeft, hoe de FAANG aandelen zullen verlopen de komende periode.

Frappant detail ter afsluiting, Apple heeft voor miljarden aan nieuwe obligaties uitgegeven die werden opgekocht door de FED, Apple bulkt van de CASH, is super rijk en toch slurpen ze nog een boel geld uit de buidel van de Amerikaanse overheid, van de FED. Geld dat eigenlijk bedoeld was voor Main Street, voor mensen zonder werk, gelukkig zijn die niet echt bekwaam genoeg om het te begrijpen want anders zouden er een soort revolutie komen door het volk in de VS. Het wordt hoog tijd om te veranderen en dat merkt Trump ook want hij wordt behoorlijk bang van het kamp Biden-Harris gezien zijn Tweets met alleen maar verwijten in hun richting.

Verder, ik blijf voorlopig rustig met de posities afwachten, de markt komt wel naar ons toe en dan is het belangrijk om de grote move mee te pakken. Wie nog geen lid is kan nog mee met de posities door lid te worden, dat kan tot 1 OKTOBER voor €39 ...

Inschrijven kan via de link https://www.usmarkets.nl/tradershop en dan kunt u meteen mee met de posities ... Denk eraan dat als er een grote move komt we erbij zullen zijn en ook dan ben ik van plan om wat langer in de markt te blijven zodat we voor een mooie winst gaan ... Wordt dus vandaag nog lid en neem de lopende posities op ...

Tot straks ... Guy

GLOBAL TOP NEWS
China's retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world's second-largest economy failed to shake off wariness about the coronavirus, while the recovery in the factory sector struggled to gain momentum.

President Donald Trump said on Thursday he was blocking Democrats' effort to include funds for the U.S. Postal Service and election infrastructure in a new coronavirus relief bill, a bid to block more Americans from voting by mail during the pandemic.

Apple and Alphabet's Google on Thursday removed popular video game "Fortnite" from their app stores for violating the companies' in-app payment guidelines, prompting developer Epic Games to file federal antitrust lawsuits challenging the two companies' rules.


EUROPEAN COMPANY NEWS
Daimler said on Thursday it has reached agreements costing nearly $3 billion to settle civil investigations by U.S. regulators and lawsuits from vehicle owners stemming from a long-running probe into software to cheat diesel emissions tests.

The Philippine unit of Royal Dutch Shell said on Thursday it will permanently shut one of the country's two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow, according to analysts.

Production of 400 million doses of a COVID-19 vaccine for Latin America could begin early next year, an executive for pharmaceutical company AstraZeneca said on Thursday, as the region's coronavirus death toll stands at nearly 230,000.


TODAY'S COMPANY ANNOUNCEMENTS
ACS Actividades de Construccion y Servicios SA HY 2020 Earnings Release
Adecoagro SA Q2 2020 Earnings Call
Aker Solutions ASA Shareholders Meeting
Baker Steel Resources Trust Ltd Annual Shareholders Meeting
Clas Ohlson AB July 2020 Corporate Sales Release
Deutsche Euroshop AG Q2 2020 Earnings Call
EQS Group AG Q2 2020 Earnings Release
Flow Traders NV HY 2020 Earnings Release
H+H International A/S HY 2020 Earnings Call
Hapag Lloyd AG HY 2020 Earnings Call
HELLA GmbH & Co KgaA FY 2020 Earnings Release
Impax Environmental Markets PLC Shareholders Meeting
Invisio AB HY 2020 Earnings Call
Kloeckner & Co SE Q2 2020 Earnings Release
Maersk Drilling A/S Q2 2020 Earnings Release
Navigator Holdings Ltd Q2 2020 Earnings Call
Neonode Inc Q2 2020 Earnings Call
Newriver Reit PLC Annual Shareholders Meeting
Nexway AG Annual Shareholders Meeting
Rosenbauer International AG Q2 2020 Earnings Call
Rovio Entertainment Oyj Q2 2020 Earnings Release
Semperit AG Holding HY 2020 Earnings Release
Shurgard Self Storage SA HY 2020 Earnings Call
TDC A/S Q2 2020 Earnings Call
va Q tec AG Annual Shareholders Meeting
Verona Pharma PLC Q2 2020 Earnings Call
Voxeljet AG Q2 2020 Earnings Call
windeln de SE Q2 2020 Earnings Call​


ECONOMIC EVENTS (All times GMT)
0630 Switzerland Producer/Import Price mm for Jul: Prior 0.5%
0630 Switzerland Producer/Import Price yy for Jul: Prior -3.5%
0645 France CPI (EU Norm) Final mm for Jul: Expected 0.4%; Prior 0.4%
0645 France CPI (EU Norm) Final yy for Jul: Expected 0.9%; Prior 0.9%
0645 France Inflation Ex-Tobacco mm for Jul: Prior 0.1%
0645 (approx.) France Inflation Ex-Tobacco Idx for Jul: Prior 104.04
0645 (approx.) France CPI yy NSA for Jul: Prior 0.8%
0645 (approx.) France CPI mm NSA for Jul: Prior 0.4%
0645 (approx.) France CPI NSA for Jul: Prior 104.79
0730 Netherlands GDP Prelim SA qq for Q2: Expected -9.2%; Prior -1.5%
0730 Netherlands GDP Prelim NSA yy for Q2: Expected -9.7%; Prior -0.2%
0830 Netherlands Trade Balance for Jun: Prior 3.487 bln EUR
0900 (approx.) Euro Zone Employment Overall Flash for Q2: Prior 160,370,700​
0900 Euro Zone Employment Flash yy for Q2: Expected -1.7%; Prior 0.4%
0900 Euro Zone Employment Flash qq for Q2: Expected -1.7%; Prior -0.2%
0900 Euro Zone Eurostat Trade NSA for Jun: Expected 12.6 bln EUR; Prior 9.4 bln EUR
0900 (approx.) Euro Zone Total Trade Balance SA for Jun: Prior 8.00 bln EUR
0900 Euro Zone GDP Flash Estimate qq for Q2: Expected -12.1%; Prior -12.1%
0900 Euro Zone GDP Flash Estimate yy for Q2: Expected -15.0%; Prior -15.0%​