Liveblog Archief vrijdag 28 augustus 2020

TOP NEWS
• PREVIEW-Apple and Tesla split their shares, but does it matter?
Shares of Apple and Tesla will be less costly on Monday as pre-announced stock splits take effect, in theory making them more accessible to retail investors, but as more brokers offer fractional shares, some in the market question the need.
• Japan's PM Abe resigns as coronavirus hits economy, endangers legacy
Prime Minister Shinzo Abe, Japan's longest-serving premier, announced his resignation because of poor health, ending a stint at the helm of the world's third-biggest economy in which he sought to revive growth and bolster its defences.
• J&J to start mid-stage coronavirus vaccine trials in 3 European countries next week
Johnson & Johnson's Janssen unit will begin mid-stage trials for its coronavirus vaccine in Spain, the Netherlands and Germany next week, Spain's health minister said, as the U.S. drugmaker expands testing for its experimental shot.
• Sinovac's coronavirus vaccine candidate approved for emergency use in China, says source
Sinovac Biotech's coronavirus vaccine candidate CoronaVac was approved in July for emergency use as part of a programme in China to vaccinate high-risk groups such as medical staff, a person familiar with the matter said.
• Facebook says Apple rejected its attempt to tell users about App Store fees
Facebook on Thursday told Reuters that Apple rejected its attempt to tell users the iPhone maker would take a 30% cut of sales in a new online events feature, forcing Facebook to remove the message to get the tool to users.


BEFORE THE BELL
U.S. stock index futures were mostly higher after the Federal Reserve's policy shift on inflation suggested an extended period of low interest rates. Japanese shares dropped, with the Nikkei 225 down 1.4%, after news that the country's Prime Minister Shinzo Abe resigned for health reasons. Most European shares fell as investors dumped this year's outperformers including technology and healthcare stocks and bid up banking shares. Gold prices jumped more than 1% as the dollar retreated. Oil prices pared losses.


STOCKS TO WATCH
Results
• Gap Inc (GPS). The apparel retailer reported a surprise 13% rise in quarterly comparable sales on Thursday, as consumers stuck at home due to the COVID-19 pandemic bought more of its Old Navy and Athleta clothing online. Same-store sales rose 13%, compared with analysts' forecast of a 20.97% fall. The retailer said it nearly doubled its e-commerce business for the quarter ended Aug. 1, with about 50% online penetration, and added about 3.5 million new customers. Gap reported second-quarter net loss of $62 million, or 17 cents per share, compared to a profit of $168 million, or 44 cents per share, a year earlier. Net sales fell about 18% to $3.28 billion, but were above expectations of $2.91 billion.
• Workday Inc (WDAY). The business software provider on Thursday appointed Chano Fernandez as co-chief executive officer and raised its annual subscription forecast. The company, which has become the latest to opt for the co-CEO model after Netflix, promoted co-president Fernandez to serve alongside CEO and co-founder Aneel Bhusri. Workday said it expects fiscal 2021 subscription revenue between $3.73 billion and $3.74 billion, up from its previous forecast of $3.67 billion to $3.69 billion. Total revenue jumped 19.6% to $1.06 billion for the second quarter ended July 31, edging past analysts' average estimate of $1.04 billion. ​

In Other News
• Amazon.com Inc (AMZN). The company said it had ordered 1,800 electric vans from Mercedes-Benz for its European delivery fleet, as part of the online retailer's plans to run a carbon neutral business by 2040. A majority of the electric vehicles from Daimler's car and vans division will go into service this year, the company said, adding that it had ordered 1,200 of Mercedes-Benz's larger eSprinter models and 600 of the midsize eVitos. The order is the largest for Mercedes-Benz's electric vehicles to date and includes 800 vans for Germany and 500 for the United Kingdom.
• Apple Inc (AAPL) & Facebook Inc (FB). Facebook told Reuters that Apple rejected its attempt to tell users the iPhone maker would take a 30% cut of sales in a new online events feature, forcing Facebook to remove the message to get the tool to users. Facebook said that Apple cited an App Store rule that bars developers from showing "irrelevant" information to users. "Now more than ever, we should have the option to help people understand where money they intend for small businesses actually goes. Unfortunately Apple rejected our transparency notice around their 30% tax but we are still working to make that information available inside the app experience," Facebook said in a statement.​
• Boeing Co (BA). The company called on airlines to pull eight 787 Dreamliners from service, after the planemaker found a manufacturing issue in the jet's structure, The Air Current reported. This instruction from Boeing took place earlier this week after finding an issue that undermined the strength of an area of the jet's carbon fiber composite structure, the aviation publication reported. Aircraft for United Airlines, Singapore Airlines and Air Canada are impacted by the impromptu grounding, the report said, citing a person familiar with the situation.
• Freeport-McMoran Inc (FCX). Workers at Indonesia's Grasberg gold and copper mine ended a protest demanding an easing of a coronavirus lockdown at the mine operated by a local unit of the company, a workers' representative and the company said. Yonpis Tabuni, a workers' representative, said by text message that all their demands had been met and the protest had ended. He shared a video showing workers opening up road blockades, partially shrouded by thick fog and rain, at the mine located at a mountain-top mining complex in the easternmost region of Papua.
• Johnson & Johnson (JNJ). The company's Janssen unit will begin mid-stage trials for its coronavirus vaccine in Spain, the Netherlands and Germany next week, Spain's health minister said, as the U.S. drugmaker expands testing for its experimental shot. The Phase II trial will last two months and include 550 participants across the three countries, including 190 people in Spain, Salvador Illa told a news conference in Madrid. "It's a vote of confidence in our health system," Illa said, adding it was the first human trial for a coronavirus vaccine to be approved in Spain. The study will focus on healthy people between the ages of 18 and 55 as well as people over 65.​
• Moderna Inc (MRNA). The company said it was in talks with Japan's government to potentially supply 40 million or more doses of its COVID-19 vaccine candidate. The vaccine candidate, mRNA-1273, would be distributed in Japan by Takeda Pharmaceutical, beginning in the first half of 2021, if it receives regulatory approval. The news comes as the country scrambles to secure access to enough doses of the vaccine to inoculate its population four times over, as it prepares to host a delayed Summer Olympics next year.​
• Sinovac Biotech Ltd (SVA). The company’s coronavirus vaccine candidate CoronaVac was approved in July for emergency use as part of a programme in China to vaccinate high-risk groups such as medical staff, a person familiar with the matter said. China National Biotec Group (CNBG), a unit of state-owned pharmaceutical giant China National Pharmaceutical Group (Sinopharm), also said it had obtained emergency use approval for a coronavirus vaccine candidate in social media platform WeChat on Sunday. CNBG, which has two vaccine candidates in phase 3 clinical trials, did not say which of its vaccines had been cleared for emergency use.
• Tesla Inc (TSLA). Elon Musk said on Thursday that the company’s factory in Nevada was a target of a "serious" cybersecurity attack, confirming a media report that claimed an employee of the company helped the Federal Bureau of Investigation(FBI) thwart the attack. News website Teslarati said that the electric carmaker was the unnamed company in a statement issued by the U.S. Department of Justice on Tuesday about a Russian national's arrest, in connection with a planned attack on an unidentified company. The Justice Department said that Egor Igorevich Kriuchkov, 27, a Russian national, was arrested and charged with conspiracy to intentionally cause damage to a protected computer by trying to recruit an employee to introduce a malware into a system. The malware was aimed at extracting data from the network and then to threaten the company for ransom money, the statement said.
• Veoneer Inc (VNE). Shares in the auto technology group picked up further gains in early trading after jumping 19% on Thursday as it unveiled a partnership with Qualcomm in advanced driver assistance systems. "We believe this collaboration has increased Veoneer's chances of being one of the major players in this market," Handelsbanken Capital Markets said in a research note. Handelsbanken, which repeated its buy recommendation for the Veoneer stock, said the joint product would be the number one competitor to the market-leading EyeQ SoC system from Intel-owned Mobileye.​


ANALYSIS
U.S. big tech dominates stock market after monster rally, leaving investors on edge
U.S. technology giants are increasingly dominating the stock market in the midst of the coronavirus pandemic, even as they draw accusations of unfair business practices, and some investors fear the pump is primed for a tech-fueled sell-off.


ANALYSTS' RECOMMENDATION
• Cooper Companies Inc (COO). Jefferies raises target price to $360 from $340, citing continued momentum ahead of contact lens markets and the absence of any material share loss from competitive launches.
• Dell Technologies Inc (DELL). RBC raises rating to outperform from sector perform and target price to $80 from $48, highlighting the company's plans to sell stake in VMware and its steadily improving balance sheet which is positioned to withstand additional macro shocks.
• Dollar General Corp (DG). Piper Sandler raises target price to $245 from $220, following strong second-quarter earnings results that were well ahead of estimates and strong momentum continuing into the third quarter.
• HP Inc (HPQ). Evercore ISI raises target price to $22 from $21, following impressing earnings results in the third quarter and robust growth in the PC segment.
• Workday Inc (WDAY). Barclays raises target price to $220 from $162, citing the company's third-quarter results that were better-than-expected and an increased revenue guidance for 2021.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 Personal income mm for July: Expected -0.2%; Prior -1.1%
0830 Personal consumption real mm for July: Prior 5.2%
0830 Consumption, adjusted mm for July: Expected 1.5%; Prior 5.6%
0830 Core PCE price index mm for July: Expected 0.5%; Prior 0.2%
0830 Core PCE price index yy for July: Expected 1.2%; Prior 0.9%
0830 PCE price index mm for July: Prior 0.4%
0830 PCE price index yy for July: Prior 0.8%
0830 Advance goods trade balance for July: Prior -70.99 bln
0830 Wholesale inventories advance for July: Prior -1.4%
0830 Retail inventories ex-auto advance for Jul: Prior -0.8%
0945 (approx.) Chicago PMI for Aug: Expected 52.0; Prior 51.9
1000 U Mich Sentiment Final for Aug: Expected 72.8; Prior 72.8
1000 U Mich Conditions Final for Aug: Prior 82.5
1000 U Mich Expectations Final for Aug: Prior 66.5
1000 (approx.) U Mich 1 year inflation final for Aug: Prior 3.0%
1000 (approx.) U Mich 5-year inflation final for Aug: Prior 2.7%
1200 (approx.) Dallas fed PCE for July: Prior 1.7%


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


CORPORATE EVENTS
No major events are scheduled.


EXDIVIDENDS
Agnico Eagle Mines Ltd (AEM). Amount $0.20
Badger Daylighting Ltd (BAD). Amount C$0.05
Barrick Gold Corp (ABX). Amount $0.08
Boralex Inc (BLX). Amount C$0.16
Brookfield Asset Management Inc (BAMa). Amount $0.12
Exchange Income Corp (EIF). Amount C$0.19
First National Financial Corp (FN). Amount C$0.16
Morneau Shepell Inc (MSI). Amount C$0.06
Mullen Group Ltd (MTL). Amount C$0.03
Northland Power Inc (NPI). Amount C$0.10
Superior Plus Corp (SPB). Amount C$0.06
Whitecap Resources Inc (WCP). Amount C$0.01

Goedemorgen
Een divergerende sessie gisteren, Europa lager maar Wall Street kon het nog vasthouden richting het slot omdat men hoopt op een sterk optreden van Trump tijdens zijn speach die vannacht werd gegeven. Veel nieuws zei hij niet, de gebruikelijke leugens ofwel vooral door de waarheid te verbergen. Maar dat zijn we gewoon van hem, de markt kreeg wel een impuls omhoog erdoor, ook dat geraken we gewoon. Verder staat de VS in vuur en vlam, liggen de Zuidelijke staten stil door de orkaan Laura en kregen we gisteren een blik op de economie en de wekelijkse aanvragen van nieuwe uitkeringen. De economie in de VS ging met het aangepaste cijfer in het Q2 achteruit met 31,7% wat iets beter werd dan de 32,9% waar men eerder vanuit ging. Verder kwam de wekelijkse aanvraag voor een uitkering weer boven de 1 miljoen uit.

Microsoft en Wal-Markt vechten om TikTok over te nemen, beide bedrijven die in de Dow Jones index zitten gingen er fors op vooruit, Microsoft met 2,5% en Wal-Mart met 4,5%. Een van beiden zal de deal niet krijgen of ze vissen beiden achter het net.

De tijd zal het leren, maar we zitten in een fase waar elk nieuwtje de koersen nog hoger krijgt en waar slecht nieuws gewoonweg wordt genegeerd. De krimp van de economie en opnieuw zoveel aanvragen voor een uitkering doet vrijwel niks met de markt maar volgens mij moet dat op een gegeven moment allemaal nog komen. Typisch gedrag bij bubbel--vorming, meer kan ik er niet van maken ...

We zitten in de markt met wat posities, de leden weten waar ze staan op dit moment, het zijn strategische posities waar ik wat van verwacht, de stops liggen ver weg dus we kunnen ook de tijd nemen om er iets leuks van te maken. U kunt ook mee door lid te worden, zodra u zich inschrijft via de aanbieding kunt u via de Tradershop zien welke posities we open hebben staan en u kunt ze meteen aankopen.

Er loopt nu een aanbieding tot 1 NOVEMBER voor €39, ruim 2 maanden kunt u kennis maken met US Markets Trading ... Om u in te schrijven ga naar https://www.usmarkets.nl/tradershop

Bubbels groeien verder, en verder ...

Tot later, Guy

GLOBAL TOP NEWS
The Federal Reserve on Thursday rolled out a sweeping rewrite of its approach to its dual role of achieving maximum employment and stable prices, putting new weight on bolstering the U.S. labor market and less on worries about too-high inflation.

A defiant President Donald Trump accepted the Republican nomination for a second term on Thursday with a scathing attack on rival Joe Biden, asserting that a Democratic victory in November would only exacerbate the racial strife and coronavirus pandemic besieging the nation.

China's ByteDance told engineers of its popular short-video app TikTok this week to make contingencies should it need to shut down its U.S. operations, even as it works toward divesting them, people familiar with the matter said on Thursday.​


EUROPEAN COMPANY NEWS
The European Commission has made a 336 million euro downpayment to British drug maker AstraZeneca to secure at least 300 million doses of its potential COVID-19 vaccine, a spokesman said on Thursday.

German drugs company Bayer said on Thursday there were "bumps" in sealing its $11 billion settlement of thousands of U.S. lawsuits over its Roundup weed killer after a U.S. judge cast doubt on the progress of the agreement.

Glencore will likely sell its entire 73.1% stake in Zambia's Mopani Copper Mines to the government's mining investment arm ZCCM-IH rather than becoming a minority stakeholder, two sources with direct knowledge told Reuters.​


TODAY'S COMPANY ANNOUNCEMENTS
AcadeMedia AB FY 2020 Earnings Call
Addtech AB Annual Shareholders Meeting
Amigo Holdings PLC Q1 2021 Earnings Call
Benchmark Holdings PLC Q3 2020 Earnings Call
Beneteau SA Shareholders Meeting
Bigblu Broadband PLC Shareholders Meeting
Distil PLC Annual Shareholders Meeting
Essentra PLC HY 2020 Earnings Release
Eurocommercial Properties NV FY 2020 Earnings Release
Fresenius SE & Co KGaA Annual Shareholders Meeting
Hafnia Ltd Q2 2020 Earnings Call
Insr Insurance Group ASA Q2 2020 Earnings Call
K3 Business Technology Group PLC Shareholders Meeting
Lacroix Group SA Shareholders Meeting
Norwegian Air Shuttle ASA Q2 2020 Earnings Release
Onoff AG Annual Shareholders Meeting
Orphazyme A/S HY 2020 Earnings Call
Oryx International Growth Fund Ltd Annual Shareholders Meeting
Paxman AB (publ) Q2 2020 Earnings Call
SCHUMAG AG Annual Shareholders Meeting
Sesa SpA Annual Shareholders Meeting
Silc SA Annual Shareholders Meeting
Steinhoff International Holdings NV Annual Shareholders Meeting​


ECONOMIC EVENTS (All times GMT)
0600 Germany GfK Consumer Sentiment for Sep: Expected 1.2; Prior -0.3
0600 (approx.) Germany Import Prices mm for Jul: Expected 0.2%; Prior 0.6%
0600 (approx.) Germany Import Prices yy for Jul: Expected -4.7%; Prior -5.1%
0645 France Consumer Spending mm for Jul: Expected 2.0%; Prior 9.0%
0645 France GDP qq Final for Q2: Expected -13.8%; Prior -13.8%
0645 (approx.) France GDP yy Final for Q2: Expected -19.0%; Prior -19.0%
0645 France CPI (EU Norm) Prelim yy for Aug: Expected 0.2%; Prior 0.9%
0645 (approx.) France CPI (EU Norm) Prelim mm for Aug: Expected -0.2%; Prior 0.4%
0645 (approx.) France CPI Prelim yy NSA for Aug: Prior 0.8%
0645 (approx.) France CPI Prelim mm NSA for Aug: Prior 0.4%
0645 France Producer Prices mm for Jul: Prior 0.7%
0645 (approx.) France Producer Prices yy for Jul: Prior -2.7%
0700 (approx.) Spain Retail Sales yy for Jul: Prior -4.7%
0700 Switzerland KOF Indicator for Aug: Expected 90.0; Prior 85.7
0700 Austria GDP Growth qq Final for Q2: Prior -10.7%
0700 Austria PPI mm for Jul: Prior 0.2%
0700 Austria PPI yy for Jul: Prior -2.1%
0730 Sweden GDP qq for Q2: Expected -8.6%
0730 Sweden GDP yy for Q2: Expected -8.2%
0800 Italy Manufacturing Business Confidence for Aug: Expected 88.9; Prior 85.2
0800 Italy Consumer Confidence for Aug: Expected 100.0; Prior 100.0
0830 (approx.) Portugal Business Confidence for Aug: Prior -2.90
0830 (approx.) Portugal Consumer Confidence for Aug: Prior -28.30
0900 (approx.) Italy Producer Prices mm for Jul: Prior 0.5%
0900 (approx.) Italy Producer Prices yy for Jul: Prior -4.5%
0900 (approx.) Euro Zone Business Climate for Aug: Prior -1.80
0900 Euro Zone Economic Sentiment for Aug: Expected 85.0; Prior 82.3
0900 Euro Zone Industrial Sentiment for Aug: Expected -14.3; Prior -16.2
0900 Euro Zone Services Sentiment for Aug: Expected -24.4; Prior -26.1
0900 Euro Zone Consumer Confidence Final for Aug: Expected -14.7; Prior -14.7
0900 Euro Zone Consumer Inflation Expec for Aug: Prior 17.5
0900 Euro Zone Selling Price Expec for Aug: Prior -1.0
0930 (approx.) Belgium CPI mm for Aug: Prior 0.22%
0930 (approx.) Belgium CPI yy for Aug: Prior 0.73%​