Liveblog Archief woensdag 14 oktober 2020

TOP NEWS
• As more Americans vote early, Trump presses on to Iowa
With less than three weeks to go until the U.S. presidential election, President Donald Trump will hold a rally in Iowa, as he tries to make up for time lost on the campaign trail during his recent bout with the coronavirus.

• UnitedHealth profit beats as Optum unit drives growth
Health insurer UnitedHealth's quarterly profit beat estimates, helped by growth in its Optum unit that manages its pharmacy benefits business, and a slower-than-expected recovery in demand for optional health care postponed due to COVID-19.

• AMC may need to raise additional capital through equity - CEO
AMC Entertainment may need to raise additional capital either entirely or mostly through equity, its CEO told Reuters late Tuesday, as the cinema operator grapples with the impact of the coronavirus pandemic.

• Panicked Europe battens down against COVID second wave
European countries have begun to close schools and cancel surgeries, going well beyond curbs on social life, as overwhelmed authorities face their nightmare scenario of a COVID-19 resurgence right before the onset of winter.

• Ford moves Escape production to next year after Europe recall of Kuga
Ford Motor said on Tuesday it was moving production of its plug-in Escape sport utility vehicle to next year as it reviews its vehicles with the same engine and battery parts that were recalled in Europe.


BEFORE THE BELL
Wall Street futures were little changed on doubts about more fiscal stimulus, and ahead of the next batch of quarterly earnings. European stocks were in the red on concerns about more lockdowns and pauses in COVID-19 vaccine trials. Japan’s Nikkei recouped earlier losses to close marginally higher, even as sentiment remained subdued across Asia. The dollar index edged up and gold gained on demand for the safe-haven assets as investors contemplated a murky outlook in the near term. Oil prices slipped on worries over faltering fuel demand due to the rising coronavirus infections.



STOCKS TO WATCH
Results
• UnitedHealth Group Inc (UNH). The health insurer's quarterly profit beat estimates, helped by growth in its Optum unit that manages its pharmacy benefits business, and a slower-than-expected recovery in demand for optional health care postponed due to COVID-19. UnitedHealth reported a medical loss ratio - the percentage of premiums paid out for medical services - of 81.9%, better than last year's 82.4%. Revenue from its Optum unit, which manages drug benefits and offers healthcare data analytics services, rose 21.4% to $34.92 billion. UnitedHealth reported adjusted earnings of $3.51 per share, beating estimates of $3.09 per share.


In Other News
• AMC Entertainment Holdings Inc (AMC). The company may need to raise additional capital either entirely or mostly through equity, its CEO told Reuters late Tuesday, as the cinema operator grapples with the impact of the coronavirus pandemic. There was no further contingency planning on the table beyond raising additional capital at the moment, Adam Aron said in an interview. He did not mention the amount that the company was looking to raise. Aron denied an earlier Bloomberg report that said the company was considering a range of options, including a potential bankruptcy protection, calling it "false" and "completely inaccurate".

• Apple Inc (AAPL). The company’s iPhone 12 launch drew mixed reactions in mainland China, with fans cheering a 5G model for their favourite brand while others planned to wait for upcoming devices from local rivals like Huawei. The much-anticipated Apple launch comes in the wake of Chinese Android-platform brands such as Huawei and Xiaomi having already rolled out higher-end 5G devices compatible with China's upgraded telecoms networks, with the U.S. giant seen by some analysts to be late to the party. In its second-largest market by revenue, Apple's announcement was feverishly discussed on social media. With over 6 billion views, the tag 'iPhone12' ranked as the no. 1 topic on China's Twitter-like Weibo.

• Barclays Plc (BCS). The company has appointed former BNP Paribas banker Gauthier Le Milon to head its M&A franchise in France, Belgium and Luxembourg amid a flurry of deals in the region as European boardrooms have regained confidence after a roller-coaster year. Based in Paris, Le Milon will report to Barclays' co-heads of banking for France, Belgium and Luxembourg - Ghislain de Brondeau and Yann Krychowski - as well as Pier Luigi Colizzi, who heads European M&A out of London.

• BHP Group Ltd (BHP). The company has received deferment requests from Chinese coal customers, Chairman Ken MacKenzie said, after reports that China had put a freeze on accepting Australian coal amid trade tensions between the two countries. "We understand there may be some new developments relating to how China plans and moderates imports versus its own domestic coal production," MacKenzie told reporters. "Our commercial team has recently received deferment requests," he told a briefing after the miner's annual general meeting, adding, "It would be concerning if the rumours were true." MacKenzie did not specify whether he was referring to BHP's thermal or metallurgical coal.

• CC Neuberger Principal Holdings I (PCPL). U.S. supply chain management software firm E2open LLC is nearing a deal to go public through a merger with blank-check acquisition company CC Neuberger Principal Holdings I at a valuation of more than $2.5 billion, including debt, people familiar with the matter said on Tuesday. An agreement could be announced as soon as Wednesday, the sources said, cautioning that talks could still falter. E2open is owned by private equity firm Insight Partners.

• Ford Motor Co (F). The company said on Tuesday it was moving production of its plug-in Escape sport utility vehicle to next year as it reviews its vehicles with the same engine and battery parts that were recalled in Europe. "We are moving full scale production of Escape PHEV to the 2021 model year. The first Escape PHEVs will be sold next year," a company spokesman said in a statement. The automaker said it recalled 20,500 Kuga PHEV vehicles in Europe last month and suspended their sale as it looks into potential concern with the high voltage battery, which in certain cases could result in a fire.

• Liberty Global Plc (LBTYA). The company has been successful in its $8.74 billion attempt to buy Switzerland's Sunrise Communications after the all-cash offer was accepted by nearly 82% of the target's shareholders. Liberty Global offered 110 Swiss francs per share of Sunrise, Switzerland's second-biggest telecoms company, in a surprise deal in August. The approach was a reversal of Sunrise's failed bid to buy Liberty's Swiss business, which collapsed after running into shareholder opposition last year. At the end of the offer period on Oct. 8, 37.1 million Sunrise shares - equivalent to 81.98% of the voting rights and share capital - had been offered, the companies said in the definitive notice of the interim result.

• Netflix Inc (NFLX). The world's largest streaming service said on Tuesday it has stopped offering free trials in the United States. "We're looking at different marketing promotions in the U.S. to attract new members and give them a great Netflix experience", a Netflix spokesperson said, confirming media reports. The company has pulled down the free-trial option from its website for the United States.

• Pearson Plc (PSO). The outgoing boss of the company hailed the wisdom of his lengthy and often painful battle to rebuild the education group for a digital generation after COVID-19 accelerated the switch to online learning. John Fallon, who issued a string of profit warnings as students moved from expensive textbooks to digital learning, said the company would not have been able to cope with the rapid shift online during the pandemic had it not previously prepared. While group sales fell in the first nine months due to cancelled tests and closed schools, global online learning jumped 32% in the third quarter.

• Pilgrim's Pride Corp (PPC). The poultry company said it has agreed to pay a fine of more than $110 million following a Justice Department probe into alleged price-fixing in the sale of broiler chicken products in the United States. The antitrust division of the department fined the company for restraining competition, which affected three contracts for the sale of chicken products to a customer in the United States, Pilgrim's said.

• Uber Technologies Inc (UBER) & Lyft Inc (LYFT). A California appeals court on Tuesday listened to arguments by lawyers for Uber, Lyft and the state of California about whether the state can recognize their drivers as employees with the right to minimum wage, overtime pay, health insurance and unemployment insurance. The case is part of a battle over the future of the so-called gig economy in California. In January, the state implemented a law making it harder for ride-hail, food delivery and other app-based companies to classify workers as independent contractors. While state law gives the appeals court 90 days to issue a ruling, a decision on the future of gig work will likely be made by California's voters on Nov. 3 instead.

• Walmart Inc (WMT). The company will extend its Black Friday deals beyond the usual one day period this year, the world's largest retailer said, as the COVID-19 pandemic forces consumers to significantly change their spending habits. The revamped promotion will offer Walmart shoppers reduced prices during three separate savings events across November, the company said. Each savings event will begin online at Walmart.com and continue in Walmart stores.

• Walt Disney Co (DIS). U.S. Senator Elizabeth Warren slammed Walt Disney's move to lay off 28,000 workers while making shareholder payouts in the years leading up to the COVID-19 pandemic, demanding more information from company executives on the measures. Warren, a progressive former U.S. presidential candidate, blasted the entertainment company for the layoffs that came as Disney reportedly restored pay for some executives who had taken cuts due to the pandemic, according to a letter the Massachusetts senator sent to Disney on Tuesday and seen by Reuters.

• Westpac Banking Corp (WBK). The company is exiting banking operations in China and some other Asian markets to focus on its core domestic and New Zealand businesses, as it grapples with capital constraints amid the COVID-19 pandemic. The country's second-largest lender, whose capital has been eroded by a record lawsuit settlement and a surge in bad-debt provisions due to the pandemic, said it will exit operations in Beijing, Shanghai, Hong Kong, Mumbai and Jakarta, where it does business with institutional clients. It will instead consolidate its international operations into branches in Singapore, London and New York.

• Wipro Ltd (WIT). India-listed shares of the company fell, a day after the software services firm posted quarterly organic revenue growth that was lower than peers and disappointed some investors with its plans to revive growth. Chief Executive Officer Thierry Delaporte, who took the helm in July, said on Tuesday Wipro would focus more on large deals and "prioritize the markets and sectors that are relevant," without giving more details. The commentary let down some investors who were hoping for more concrete steps from a company that has underperformed its rivals in the recent past.


ANALYSIS
Fewer movies in theaters? Big Media turns focus to streaming video
Walt Disney's revamp of its media and entertainment businesses represents Hollywood's latest move to prioritize streaming media, raising questions about how much big media companies will continue to support movie theaters.


ANALYSTS' RECOMMENDATION
• Abercrombie & Fitch Co (ANF). B. Riley raises target price to $19 from $14, citing the company’s plan to downsize and rationalize their square footage in addition to closing unprofitable flagship stores and renegotiating leases for better terms, along with a robust online penetration.

• Allscripts Healthcare Solutions (MDRX). Cantor Fitzgerald raises target price to $13 from $9, citing upsides to the company’s balance sheet from its announcement of selling CarePort Health business to WellSky for $1.35 billion.

• A.O. Smith Corp (AOS). Jefferies raises target price to $60 from $55, saying the company is well positioned to benefit from a Biden presidential win, with his focus on funding for residential appliances to increase energy efficiency.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 (approx.) PPI final demand yy for Sep: Expected 0.2%; Prior -0.2%
0830 (approx.) PPI final demand mm for Sep: Expected 0.2%; Prior 0.3%
0830 (approx.) PPI exfood/energy yy for Sep: Expected 0.9%; Prior 0.6%
0830 (approx.) PPI exfood/energy mm for Sep: Expected 0.2%; Prior 0.4%
0830 (approx.) PPI ex food/energy/transport yy for Sep: Prior 0.3%
0830 (approx.) PPI ex food/energy/transport mm for Sep: Prior 0.3%
1200 Refinitiv IPSOS PCSI for Oct: Prior 50.62


COMPANIES REPORTING RESULTS
Goldman Sachs Group Inc (GS). Expected Q3 earnings of $5.57 per share
Progressive Corp (PGR). Expected Q3 earnings of $1.72 per share
United Airlines Holdings Inc (UAL). Expected Q3 loss of $7.45 per share
Wells Fargo & Co (WFC). Expected Q3 earnings of 45 cents per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0830 Bank of America Corp (BAC). Q3 earnings conference call
0845 UnitedHealth Group Inc (UNH). Q3 earnings conference call
0900 U.S. Bancorp (USB). Q3 earnings conference call
0930 PNC Financial Services Group Inc (PNC). Q3 earnings conference call
0930 Goldman Sachs Group Inc (GS). Q3 earnings conference call
1000 Wells Fargo & Co (WFC). Q3 earnings conference call


EX-DIVIDENDS
Abbott Laboratories (ABT). Amount $0.36
ABBVIE Inc (ABBV). Amount $1.18
American Financial Group Inc (AFG). Amount $0.50
Idex Inc (IEX). Amount $0.50
Mid-America Apartment Communities Inc (MAA). Amount $1.00
Watsco Inc (WSO). Amount $1.77

Goedemorgen
De markt blijft voorlopig hangen rond de toppen van de afgelopen dagen, alleen de Dow en de SP 500 lieten wat liggen gisteren. Wel zien we dat de uitslagen groter worden en dan vooral bij de technologie ofwel beide Nasdaq indices. Ze verloren gisteren wel wat maar amper in vergelijking met de Dow Jones. Europa liet dan wel weer wat daling zien, behalve de AEX sloot alles wat lager. De AEX verloor vooral niet door ASML dat fors hoger sloot, het bedrijf kwam met cijfers vanmorgen en die waren beter dan verwacht. We moeten vandaag kijken wat ASML zal doen, de koers was de afgelopen dagen al fors opgelopen zodat er wel eens winstnemingen kunnen komen.

Beleggers kregen gisteren al wat kwartaalcijfers binnen van onder andere . JPMorgan dat negatief sloot (-1,7%) al waren de cijfers wat beter dan werd verwacht. Ook Citigroup werd na de cijfers minder waard, het aandeel verloor 5% gisteren. BlackRock daarentegen kon winst boeken na de cijfers, het aandeel liep met bijna 4% op na dat bekend werd dat het belegd vermogen verder steeg nieuwe hoogtes.

Apple kwam met een nieuwe lijn iPhones die geschikt zijn voor het nieuwste 5G-netwerk en kwam ook met wat nieuwe producten zoals de iPhone MINI en een nieuwe slimme speaker thuis. Opvallend is dat Apple geen oortjes of oplader meer zal leveren bij de nieuwe iPhones, dat is een klimaatinitiatief, luidt het. De koers van Apple daalde dinsdag met 2,7% na de stevige plus van maandag toen het aandeel nog met ruim 6% opliep.

Verder weinig nieuws te melden alleen dat de markten volatiel blijven momenteel en dat de waarderingen zo verder oplopen en dus veel te hoog staan. Let wel, dan op Wall Street en vooral bij meerdere sectoren, het is niet zo dat alle aandelen of sectoren te hoog staan. De bekende Tech reuzen uiteraard net als meerdere Bio-tech en Pharma bedrijven die op het wel of geen vaccin forse uitslagen laten zien op hoop dat ze met iets komen. De markt blijft wel kwetsbaar nu Wall Street en Main Street steeds verder uit elkaar komen te liggen. Blijf opletten, een grote move omlaag zit eraan te komen als we alles goed evalueren.

US Markets Trading nu voor €29 tot 1 DECEMBER:
We zitten in de markt met wat posities, die kunt u nog aankopen vandaag door lid te worden. De markt blijft wel nog even te moeilijk om met grotere posities te werken dus blijven we met kleine aantallen werken 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 DECEMBER voor €29, 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
U.S. drug inspectors uncovered serious quality control problems at an Eli Lilly and Co pharmaceutical plant that is ramping up to manufacture one of two promising COVID-19 drugs touted by President Trump as “a cure” for the disease, according to government documents and three sources familiar with the matter.

Apple Inc launched its next-generation iPhone 12, with faster 5G connectivity that the California company hopes will spur consumers to trade in their old phones and keep its sales booming through the end of the year.

Senate Majority Leader Mitch McConnell said on Tuesday the Republican-led U.S. Senate would vote next week on a targeted, $500 billion coronavirus economic aid bill of the type Democrats already have rejected as they hold out for trillions in relief.


EUROPEAN COMPANY NEWS
The European Union on Tuesday won the right to impose tariffs on $4 billion of U.S. goods in retaliation against subsidies for planemaker Boeing - deepening a record trade spat that has already prompted Washington to slap duties on EU imports.

Italian bank UniCredit on Tuesday named economist Pier Carlo Padoan as director and said it would appoint the former Treasury chief as chairman when it renews the board next spring.

Italy's Atlantia said on Tuesday it had entered exclusive talks until Oct. 18 with state lender Cassa Despositi e Prestiti (CDP) over the sale of the group's motorway assets.


TODAY'S COMPANY ANNOUNCEMENTS
ABG Sundal Collier Holding ASA Q3 2020 Earnings Release
ASML Holding NV Q3 2020 Earnings Call
Barratt Developments PLC Annual Shareholders Meeting
BioArctic AB 9 months 2020 Earnings Call
Edinburgh Worldwide Investment Trust PLC Shareholders Meeting
Primorus Investments PLC Annual Shareholders Meeting
TomTom NV Q3 2020 Earnings Call
Watches of Switzerland Group PLC Annual Shareholders Meeting​


ECONOMIC EVENTS (All times GMT)
0600 (approx.) Sweden money market CPIF inflation 1 year for Oct: Prior 1.0%
0600 (approx.) Sweden money market CPIF inflation 5 years for Oct: Prior 1.7%
0700 Spain CPI mm final NSA for Sep: Expected 0.2%; Prior 0.2%
0700 Spain CPI yy final NSA for Sep: Expected -0.4%; Prior -0.4%
0700 Spain HICP final mm for Sep: Expected 0.4%; Prior 0.4%
0700 Spain HICP final yy for Sep: Expected -0.6%; Prior -0.6%
0700 Spain Core CPI yy for Sep: Prior 0.4%
0700 (approx.) Spain CPI final NSA for Sep: Prior 103.741
0900 Euro Zone industrial production mm for Aug: Expected 0.8%; Prior 4.1%
0900 Euro Zone industrial production yy for Aug: Expected -7.2%; Prior -7.7%​