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Busy end of week for companies

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11/22/2019 | 08:08am EST

To end the trading week, a European consolidation that promises to be tough for stock market operators, a cybertuck at Tesla, four offers placed on Bourbon and a vast plan of disposals at Exxon Mobil.

A flurry of suitors. Euronext is trying to convince the Madrid Stock Exchange to join it, rather than being bought by the Zurich Stock Exchange. "We are in ongoing discussions with the BME Board of Directors to produce an offer," said Group CEO Stéphane Boujnah yesterday in French media Boursorama. On Monday, SIX Group launched a €2.84 billion takeover bid for Bolsas y Mercados Españoles.

In hostile mode? Xerox could go into hostile mode on HP Inc after the rejection of its merger proposal, if no dialogue is established by Monday evening. Xerox's CEO said he was ready to propose his merger plan directly to HP shareholders, without the advice of the board of directors. The merger is supported by activist investor Carl Icahn, who holds significant stakes in both companies.

Marriage of reason. The market is still buzzing with discussions about Charles Schwab's takeover of TD Ameritrade. Both stocks were also strong yesterday at this announcement, which was positively received as the brokerage sector is suffering from a merciless price war in the United States and elsewhere in the world. It remains to be confirmed that the rumors are true.

Slimming cure. Exxon Mobil is planning to divest $25 billion of assets in Europe, Africa and Asia as part of its 2025 project: Reuters' information is especially important because it cites assets (upstream in Europe, Indonesia, Chad, Malaysia, Equatorial Guinea) when the global envelope was already known. These layoffs are in addition to those of the Norwegian assets, already completed, and the ongoing sale of a subsidiary in Australia and Nigeria.

The pickup Blade Runner. Tesla unveiled yesterday its first model of electric pickup truck, whose production should start at the end of 2021, to compete with the great classics of American manufacturers. The vehicle, with its futuristic look and cybertruck name, will be available from USD 39900, according to Elon Musk, who said the company found its design inspiration in Blade Runner as well as in James Bond's Lotus Amphibious Spirit in The Spy Who Loved Me.

Coty, so much choice. Unilever, Colgate, Henkel and several investment funds such as Advent and Cinven would be interested in the assets put up for sale by Coty. The call for tenders could be launched in December for the company's professional assets, including Wella and Clairol.

In other news. Twitter users will now be able to hide some unwanted responses to their own tweets. WeWork will cut 17% of its workforce worldwide, or 2400 jobs. Roche has yet to shift its offer on Spark.


Stocks mentioned in the article
ChangeLast1st jan.
ADVENT CONVERTIBLE AND INCOME FUND -0.90% 15.21 Delayed Quote.22.41%
COLGATE-PALMOLIVE COMPANY 0.53% 68.16 Delayed Quote.13.94%
COTY INC. 0.68% 11.85 Delayed Quote.79.42%
EURONEXT N.V. -0.07% 69.4 Real-time Quote.38.07%
EXXON MOBIL CORPORATION 1.54% 69.46 Delayed Quote.0.32%
HENKEL AG & CO. KGAA 1.17% 94.96 Delayed Quote.-1.64%
ROCHE HOLDING AG 0.21% 305.15 Delayed Quote.25.10%
TD AMERITRADE HOLDING CORPORATION 2.36% 51.99 Delayed Quote.3.74%
TESLA INC. 2.21% 337.96 Delayed Quote.-0.73%
THE CHARLES SCHWAB CORPORATION 1.95% 49.7 Delayed Quote.17.36%
TWITTER 0.80% 30.265 Delayed Quote.4.52%
UNILEVER PLC 1.66% 4551.5 Delayed Quote.8.92%
XEROX HOLDINGS CORPORATION 1.06% 38.23 Delayed Quote.91.40%

Romain Fournier
© MarketScreener.com 2019
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