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Dynamic quotes 
OFFON

Romain
Fournier

Journalist
By the same author
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GLOBAL MARKETS LIVE: Occidental Petroleum's saving plan, Mylan-Pfizer merger postponed…

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03/26/2020 | 10:11am EDT

Companies keep revising or even withdrawing their full-year guidance because of coronavirus. Mylan will not complete its merger with Pfizer's generics division until later. Food distributors appear to be doing well, although their margins are expected to contract.

 

Carl Icanh wins. Finally, Occidental Petroleum gave in to pressure from Carl Icahn, announcing a vast savings plan.

Mylan will wait. Mylan will not complete its merger with Pfizer's generics division until the second half of 2020, because of coronavirus, the two companies announced Thursday. Initially, the operation should have been completed by the end of June.

Well targeted. Target Corporation's sales have been boosted by coronavirus, but the retailer fears that its results may be down as consumers are less inclined to buy high-margin products. In March, sales are 20% higher than a year earlier.

5G will wait. According to the Japanese agency Nikkei, Apple is considering delaying the release of its iPhone 5G by a few months. Initially, the terminal was originally planned for September, but coronavirus has turned everything upside down. The Californian is already behind on the 5G compared to its rivals Samsung and Huawei, who already offer this technology.

Corporate debt is still alive. Even if the rating agencies are drawing downgrades in credit quality, like Ford or Softbank recently, the corporate debt market is not closed, as demonstrated by the operations carried out by Nike, McDonald's or Pfizer, which follow those of Comcast or MasterCard. In Europe, Sanofi, Engie or BPCE have also tapped the bond market this week, and Carrefour just this morning.

The defense is getting organized. A group of cybersecurity experts, comprising nearly 400 volunteers from specialist companies, has been set up to combat piracy linked to coronavirus, which is exploding, particularly in terms of phishing.

In other news. Micron publishes good short-term prospects, but says it is unable to assess the consequences of coronavirus. ENI, Sonova review their objectives. The European Commission has opened an investigation into the takeover of TachoSil (Takeda) by Johnson & Johnson. Relief Therapeutics and NeuroRx applied to the FDA for approval to test Aviptadil for the treatment of Covid-19. Evolva renews vanillin agreement with International Flavors & Fragrances. Marubeni falls in the stock market after announcing losses for the year just ending. Calida changes its board of directors. Adecco to introduce short-time working in certain areas in Switzerland. ABN Amro takes a $200 million loss on a customer due to Covid-19.

Stocks mentioned in the article
ChangeLast1st jan.
ADECCO GROUP AG 1.45% 36.29 Delayed Quote.-37.70%
APPLE INC. 0.32% 241.48 Delayed Quote.-17.96%
CALIDA HOLDING AG -0.73% 27.2 Delayed Quote.-23.91%
CARREFOUR -0.11% 14.225 Real-time Quote.-4.75%
COMCAST CORPORATION 5.15% 34.0701 Delayed Quote.-27.91%
ENGIE -0.91% 8.894 Real-time Quote.-37.67%
ENI SPA 6.93% 9.838 Delayed Quote.-33.41%
EVOLVA HOLDING SA -6.09% 0.1726 Delayed Quote.-16.44%
FORD MOTOR COMPANY -2.05% 4.305 Delayed Quote.-52.69%
MARUBENI CORPORATION -4.16% 539 End-of-day quote.-2.69%
MASTERCARD 3.38% 235.77 Delayed Quote.-19.10%
MCDONALD'S CORPORATION 0.52% 158.91 Delayed Quote.-19.96%
MICRON TECHNOLOGY, INC. 1.96% 40.61 Delayed Quote.-21.79%
MYLAN N.V. -3.30% 13.775 Delayed Quote.-29.05%
NIKE, INC. 0.86% 79.74 Delayed Quote.-21.79%
OCCIDENTAL PETROLEUM CORPORATION 18.35% 12.71 Delayed Quote.-71.90%
PFIZER, INC. 2.80% 32.59 Delayed Quote.-18.96%
RELIEF THERAPEUTICS HOLDING AG -19.03% 0.04 Delayed Quote.4,960.00%
SANOFI 0.68% 79.48 Real-time Quote.-11.92%
SOFTBANK GROUP CORP. 2.57% 3788 End-of-day quote.1.34%
SONOVA HOLDING AG -2.45% 163 Delayed Quote.-21.26%
TARGET CORPORATION -1.82% 93.36 Delayed Quote.-25.69%

Romain Fournier
© MarketScreener.com 2020
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