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GLOBAL MARKETS LIVE: Microsoft, Qualcomm, Netflix, Facebook…

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07/18/2019 | 09:39am EST

The news is varied this morning: a major transaction in sight with the proposed acquisition of GrandVision by EssilorLuxottica, which is looking to strengthen its distribution network. A lot of results with Netflix crying and eBay laughing. Qualcomm has been fined again. US stock-index futures, Asian and European shares head down.


S&P 500 futures down 0.1% to 2,981.75
Brent futures up 0.4% to $63.91/bbl
Gold spot down 0.4% to $1,420.66
US Dollar Index down 0.2% to 97.08


Earnings season. Microsoft, UnitedHealth, Novartis, SAP, Honeywell, Philip Morris, Danaher, Morgan Stanley, Compagnie Financière Richemont, Volvo, Kone, Givaudan, SGS, Publicis, Gecina and Alstom are among companies reporting earnings today.

Qualcomm Hit by new antitrust fine in Europe. Qualcomm was fined $272 million by EU competition authorities for abusing its dominant position to drive a competitor out of business and hindering competition in the market for baseband chips. This is the second penalty from the bloc in 18 months.

Big appetite. EssilorLuxottica goes on the offensive by confirming discussions for a takeover of GrandVision, based on a price of EUR 28, which represents a 22% premium over the company's closing price yesterday and an invoice in the order of EUR 7 billion. This decision comes as no surprise to Bernstein, who had considered that the group's next strategic offensive would take place in distribution. However, the analyst acknowledges that he thought this movement would come a little later. Based on the available information, it estimates that the transaction would have a positive impact of 5 to 6% on earnings per share from 2019. A priori positive, therefore.

Mixed US results. The Netflix share fell by about 10% after the New York session due to subscriber gains that were half as low as expected in the second quarter. As for other results, International Business Machines provides insurance, Alcoa suffers losses and eBay shines.

The shadow of a doubt. American parliamentarians are extremely skeptical about Facebook's Libra. "I am seriously concerned about Facebook's plans to create a digital currency and portfolio," said Maxine Waters, Chair of the House of Representatives' Financial Services Committee.

In other news. After signing with IBM Cloud for its business applications, AT&T is committed to Microsoft Azure for its core business. Takeda has launched, with the support of J.P. Morgan, the sale of a portfolio of generics marketed in Western Europe, according to consistent sources, which could be worth €1.5 billion. Washington is blocking Ankara's participation in Lockheed Martin's F-35 aircraft program after Turkey's decision to equip itself with Russian anti-aircraft missiles. Chinese Didi, Uber's counterpart, is looking to raise $2 billion, according to the Wall Street Journal. Temenos buys Logical Glue. The Danish Genmab raised $506 million on the Nasdaq.

Stocks mentioned in the article
ChangeLast1st jan.
ALSTOM 0.10% 40.56 Real-time Quote.15.00%
COMPAGNIE FINANCIÈRE RICHEMONT SA -0.32% 75.02 Delayed Quote.19.46%
DANAHER CORPORATION 0.68% 1154.4 Delayed Quote.0.00%
DJ INDUSTRIAL -0.38% 27909.6 Delayed Quote.19.64%
FACEBOOK 0.14% 201.34 Delayed Quote.53.59%
GECINA 0.64% 157.4 Real-time Quote.39.29%
GIVAUDAN 0.00% 2915 Delayed Quote.28.08%
GRANDVISION -0.07% 27.44 Delayed Quote.43.44%
HONEYWELL 0.00%End-of-day quote.0.00%
IBMAROCCOSR 0.00% 135 End-of-day quote.0.00%
J.P. MORGAN CHASE & CO. 0.00%End-of-day quote.0.00%
KONE 0.63% 57.24 Delayed Quote.36.60%
LOCKHEED MARTIN CORPORATION -0.91% 383.34 Delayed Quote.47.75%
MICROSOFT CORPORATION -0.26% 151.36 Delayed Quote.49.02%
MORGAN STANLEY -0.40% 49.6 Delayed Quote.25.09%
NASDAQ 100 -0.41% 8362.743592 Delayed Quote.32.66%
NASDAQ COMP. -0.40% 8621.827413 Delayed Quote.30.46%
NETFLIX -1.58% 302.5 Delayed Quote.13.02%
NOVARTIS -0.11% 91.18 Delayed Quote.22.87%
PHILIP MORRIS INTERNATIONAL 0.41% 83.59 Delayed Quote.24.70%
PUBLICIS GROUPE -0.22% 40 Real-time Quote.-20.13%
QUALCOMM 1.31% 84.92 Delayed Quote.49.22%
S&P 500 -0.32% 3135.96 Delayed Quote.25.10%
SAP 0.00%End-of-day quote.0.00%
SGS -0.65% 2604 Delayed Quote.18.60%
TAKEDA PHARMACEUTICAL COMPANY LIMITED -0.32% 4371 End-of-day quote.20.75%
TEMENOS AG -0.23% 153.4 Delayed Quote.26.49%
UNITEDHEALTH GROUP -0.95% 277.54 Delayed Quote.11.41%
US DOLLAR INDEX -0.06% 97.64 End-of-day quote.0.99%
VOLVO -1.10% 143.9 Delayed Quote.25.49%

Romain Fournier
© MarketScreener.com 2019
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