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GLOBAL MARKETS LIVE: PG&E, Huawei, Mitsubishi, Royal DSM…

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01/29/2019 | 08:33am EDT

The news this morning is dominated by corporate results and the Huawei judicial series. U.S. stock index futures remain flat, after Asian equities declined and European shares rose.


-S&P 500 futures little changed at 2,640.75

-Brent futures up 1% to $60.55/bbl

-Gold spot up 0.4% to $1,308.19

-U.S. Dollar Index down 0.1% to 95.67


Earnings season. In Europe, the main results of the day are published by LVMH, SAP, The Swatch Group, Philips, Hargreaves Lansdown, Siemens, Sartorius AG and Royal Mail. In the United States, Apple, eBay, Juniper, Amgen, AMD, 3M, Verizon, Allergan, Biogen, Danaher, Harley-Davidson-, Lockheed and Pfizer are among companies reporting earnings.

Chapter 11. After a series of wildfires that killed more than 100 people and scorched hundreds of thousands of acres in California, PG&E filed for Chapter 11 bankruptcy in San Francisco as investigators are trying to establish whether its equipment started wildfires. The company listed $51.7 billion in total debts and $71.4 billion in assets.

ANA chooses both. According to the latest rumors, the Japanese company had planned to sign a contract with the only Boeing. Finally, it opted for 30 B737MAX and 18 A320neo from Airbus. 

It's getting tough for Huawei. The American justice system unveils 13 charges against Huawei, including claims of theft of trade secrets and trade with Iran. The Chief Financial Officer, Meng Wanzhou, is specifically implicated and should be the subject of an extradition request.

SAP restructures. After mixed figures, SAP announced the suppression of 4400 jobs worldwide (the initial figure of "more than 3000 jobs" was later specified).

Arm wrestling. Andrea Orcel, who has been dismissed from Santander's management, is considering taking the case to court. The former UBS banker reportedly contacted Spanish lawyers for a procedure.

DSM is investing. Royal DSM will set up a 75%-owned joint venture with China's Nenter to produce vitamin E. The Dutch company will pay 135 million euros for the Chinese factories, which will keep 25% of the division. An operation welcomed this morning by Baader Helvea.

Riyadh comes out covered. The Saudi SWF reportedly covered most of its 4.9% stake in Tesla with a derivative product, according to the Financial Times. A rather expensive operation that limits the impact of stock fluctuations on valuation.

In other news. Mitsubishi Heavy and Bombardier are tearing each other apart in the aerospace industry. BHP considers that the conditions for the restart of the Samarco mine are not met. Unilever acquires the Laundress household brand for an unspecified amount. After the closing, Whirlpool's prospects were disappointing (-7% after the session). The social plan of the Ford factory in Blanquefort was rejected. For the first time in 10 years, Volkswagen is reducing its workforce in Slovakia. According to Reuters, Snap is thinking about permanent snaps. PG&E's counsel has opted for bankruptcy.

Stocks mentioned in the article
ChangeLast1st jan.
ALLERGAN PLC 0.02% 193.02 Delayed Quote.0.97%
AMDOCS LIMITED 2.02% 62.1 Delayed Quote.-13.98%
AMGEN INC. -0.60% 244.67 Delayed Quote.1.49%
APPLE INC. 10.47% 425.04 Delayed Quote.44.74%
BIOGEN INC. -0.06% 274.69 Delayed Quote.-7.43%
DANAHER CORPORATION 0.82% 203.8 Delayed Quote.32.79%
DJ INDUSTRIAL 0.44% 26428.32 Delayed Quote.-7.39%
DSM KON FEB0 0.00%End-of-day quote.0.00%
EBAY INC. 1.02% 55.28 Delayed Quote.53.09%
EURO / US DOLLAR (EUR/USD) -0.47% 1.1726 Delayed Quote.4.99%
HARGREAVES LANSDOWN PLC 4.15% 1820.5 Delayed Quote.-9.61%
HUAWEI CULTURE CO.,LTD. -0.35% 2.85 End-of-day quote.-10.38%
JUNIPER NETWORKS, INC. 1.81% 25.38 Delayed Quote.3.05%
JUST GROUP PLC 0.40% 44.98 Delayed Quote.-43.29%
LOCKHEED MARTIN CORPORATION -0.72% 378.97 Delayed Quote.-2.67%
LONDON BRENT OIL 0.37% 43.56 Delayed Quote.-33.91%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 1.80% 373.35 Real-time Quote.-11.46%
MITSUBISHI UFJ FINANCIAL GROUP, INC. -2.91% 393.2 End-of-day quote.-33.72%
NASDAQ 100 1.78% 10905.881114 Delayed Quote.24.88%
NASDAQ COMP. 1.49% 10745.274812 Delayed Quote.19.76%
PFIZER, INC. -0.67% 38.48 Delayed Quote.-1.79%
PHILIPS KON DEC9 0.00%End-of-day quote.0.00%
ROYAL DUTCH SHELL PLC 0.73% 12.776 Delayed Quote.-51.51%
ROYAL MAIL PLC 2.95% 165.65 Delayed Quote.-28.90%
S&P 500 0.77% 3271.12 Delayed Quote.1.25%
SAP SE 2.77% 137.26 Delayed Quote.11.19%
SARTORIUS AG 3.08% 268 Delayed Quote.48.57%
SIEMENS AG 2.36% 110.84 Delayed Quote.-7.05%
SNAP INC. 0.04% 22.42 Delayed Quote.37.29%
TESLA, INC. -3.81% 1430.76 Delayed Quote.242.02%
THE GLOBAL LTD. 0.00% 183 End-of-day quote.-61.15%
THE SWATCH GROUP SA 0.94% 192.75 Delayed Quote.-29.26%
VERIZON COMMUNICATIONS 0.31% 57.48 Delayed Quote.-6.38%
WILL GROUP, INC. 0.00% 535 End-of-day quote.-57.27%

Romain Fournier
© MarketScreener.com 2019
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