Earnings season. Roche Holding, Thermo Fisher, Nextera, Biogen, Heineken, Investor AB, Ericsson, Kone, Schindler, STMicroelectronics, CRH, Ipsen, Akzo Nobel, Telia, Moncler, Elisa, Accor and Atos are among companies reporting their results today.

Roche immune. The pharmaceutical group posted organic sales growth of 7% in the first quarter, to CHF 15.14bn, and confirmed its targets. Management confirms that Roche Holding's 2020 dividend will be increased.

Funds to help Expedia. Expedia is reportedly negotiating the sale of part of its capital to investment funds Silver Lake and Apollo, according to the Wall Street Journal. The investment could represent $1 billion. The share of the company specialized in travel and hotel reservations has lost almost half of its value since the beginning of the year, due to coronavirus.

FB in India. Facebook is investing $5.7 billion in the Indian JIO in exchange for 10% of the capital of the subsidiary of Reliance Industries. JIO Platforms is the digital division of the Indian conglomerate. The country is Facebook's largest market, with 400 million users. This investment will create bridges between the two companies.

Capital increase. United Airlines launches a capital increase of $1 billion at $26.50 each. In three months, the company's stock has collapsed by about 67%, due to the plunge in activity caused by the Covid-19. These funds, together with the government support plan, will allow the company to overcome the pitfall, if the containment period does not last too long.

Crusader destinations. Biogen is postponing marketing for an experimental treatment for Alzheimer's disease. The announcement dampens the publication of a better-than-expected quarterly profit. Pfizer is progressing ahead of schedule after receiving approval from the German authorities for clinical trials of an investigational coronavirus vaccine developed with BioNTech.

Unexpected. Snap soared 20% ahead of the market after reporting higher-than-expected quarterly sales and more Snapchat users than expected. A publication against the tide of advertising fears.

A value-containment. Netflix added 15.8 million new subscribers in the first quarter thanks to containment measures, twice as many as expected. At the end of March, Netflix had nearly 183 million subscribers worldwide. The company is confident for the second quarter, with a forecast of 7.5 million new subscribers, again well ahead of analyst expectations.

In other news. Partners Group is postponing most of its investments. Fiat Chrysler Automobiles plans to restart its Sevel plant in central Italy next Monday. Amazon.com has extended the closure of its French warehouses until Saturday inclusive, pending the decision of the Versailles Court of Appeal, scheduled for Friday. Traton, Volkswagen's truck subsidiary, said its results contracted sharply in the first quarter. AT&T will launch its HBO Max streaming platform on May 27. Chipotle is abandoning its forecast. ASM International lowers its financial outlook. UniCredit to take €900 million in provisions for bad and doubtful debts in the first quarter.