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Airbus beats Boeing, Mixed results for banks, Amazon spends big money…

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01/15/2020 | 10:12am EST

Bank results, Amazon and takeover bids make headlines today. On social networks, Pinterest is taking back its third place in the US from Snap. And Boeing is still having setbacks.

Wall Street’s big results. Bank of America posted earnings for the fourth quarter that dropped by 4.1% to USD 6.75 billion. Goldman Sachs’ net income for the same period reached USD 1.72 billion, down 26% year-on-year due to the slowdown in its investment banking activities and the increase in its operating expenses. Blackrock said that its EPS excluding non-recurring items were higher than expected.

Big investment in India. During a trip to India, Amazon CEO Jeff Bezos announced that the group would invest $1 billion in the digital transition of small and medium-sized Indian companies. The online retailer plans to export $10 billion worth of Indian products by 2025.

Progress for PG&E. Shares in the California-based energy company soared by 3.5% pre-trading after Bloomberg reported progress towards an agreement with its creditors on a debt restructuring plan.

On the lookout. Euronext has not yet decided to file a takeover bid on the Madrid Stock Exchange, but is still following the dossier also being sought by SIX Group. "We are conducting a detailed analysis of the transaction. This analysis may or may not lead to an offer," said Euronext CEO Stéphane Boujnah at a conference. BME is currently trading at EUR 34.60 and weighs €2.9bn, above SIX's offer price of EUR 34.

In June, if all goes well. American Airlines plans to resume commercial flights with Boeing's 737 MAX on June 4, based on the "latest indications" provided by the various protagonists. The latest generation single-aisle aircraft of the American manufacturer has been grounded since March 13, 2019, after two air disasters.

Fedex is back. Amazon.com has once again authorized the third party companies on its site to use Fedex services for Prime service subscribers, after considering that the logistician had improved the quality of its service. This is good news for Fedex, which had suffered from being banned by the e-commerce giant.

FB, Insta, Pinterest. Pinterest is back ahead of Snapchat in the United States to take 3rd place on the social networking podium, according to the work of eMarketer, while Facebook and Instagram (also owned by Facebook) maintain their top two positions. The Pinterest share jumped 9% yesterday at closing, bringing the capitalization to €12bn: not bad for a company that still hasn't made any money.

Target misses its target. End-of-year sales were worse than expected for the distributor. The Target share will be heckled today.

The shadow of a doubt. Will T-Mobile US and Sprint ever get married? The market is in doubt: Sprint shares are losing ground compared to the price offered as part of the share deal with its rival.

Airbus by KO. Boeing's commercial division has announced that it will deliver 380 aircraft in 2019, the lowest level for more than ten years (especially since it includes some military versions of civil aircraft). Airbus has delivered a total of 863 over the same period.  Malaysia Airlines announced Wednesday that it has suspended the delivery of 25 Boeing 737 MAX aircraft due to the prolonged grounding of the aircraft, another setback for the aircraft manufacturer.

In other news. A bipartisan group of U.S. senators is urging the United States to release funds to help companies that would provide an alternative to Huawei's network equipment. Microsoft releases a patch for Windows 10 after a major security flaw discovered by the NSA. London finally flies to the rescue of Flybe. Swissquote raises its objectives.  Tullow Oil will depreciate $1.5 billion of assets.  Persimmon sees its revenues fall but confirms results close to expectations. 

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 1.09% 133.1 Real-time Quote.1.01%
AMAZON.COM, INC. 0.68% 2170.22 Delayed Quote.17.45%
AMERICAN AIRLINES GROUP INC. -1.05% 28.33 Delayed Quote.-1.22%
BANK OF AMERICA CORPORATION 1.31% 34.72 Delayed Quote.-1.42%
BLACKROCK, INC. 1.29% 572.07 Delayed Quote.13.80%
BOEING COMPANY (THE) -0.17% 338.3 Delayed Quote.4.03%
EURONEXT N.V. -0.43% 81.95 Real-time Quote.13.21%
FACEBOOK -0.14% 217.49 Delayed Quote.5.96%
FEDEX CORPORATION 1.62% 161.14 Delayed Quote.4.87%
GOLDMAN SACHS GROUP INC. 1.77% 237.33 Delayed Quote.3.22%
MICROSOFT CORPORATION 0.03% 187.28 Delayed Quote.18.76%
PERSIMMON 0.21% 3305.2122 Delayed Quote.22.37%
PINTEREST, INC. 3.69% 23.6 Delayed Quote.26.61%
SPRINT CORPORATION 3.49% 9.49 Delayed Quote.76.01%
SWISSQUOTE GROUP HOLDING LTD -0.40% 61.9 Delayed Quote.28.09%
T-MOBILE US 0.61% 100.49 Delayed Quote.28.14%
TARGET CORPORATION -0.37% 117.39 Delayed Quote.-8.10%
TULLOW OIL -0.05% 42.44 Delayed Quote.-33.75%

Romain Fournier
© MarketScreener.com 2020
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