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GLOBAL MARKETS LIVE: Roche, Bank of America, Alphabet, MGM…

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10/16/2019 | 10:37am EST

The news is intensifying with the return of corporate results. On the acquisition side, Mediawan has a new studio and Blackstone a legendary hotel. In the United States, negotiations are underway to compensate victims of the opioid crisis. US stock-index futures head down amid mixed global markets.



S&P 500 futures down 0.3% to 2,987.50

Brent futures down 0.4% to $58.50/bbl

Gold spot up 0.2% to $1,484.44

US Dollar Index up 0.1% to 98.36



Earnings season. Bank of America, US Bancorp, PNC Financial, Bank of New York Mellon, ASML, Segro, Asos, Mercialys, and HighCo are among companies reporting earnings today.

Everything is not as it seems. New vehicle registrations rebounded by 16.5% in September in Europe thanks to a very favorable basis of comparison, ACEA announced. Over the first nine months, sales decreased by -1.6%. All the major markets are up sharply, except the United Kingdom, which is leaded by Brexit. The increase must be put into perspective: in 2018, the arrival of the new standards on pollutant emissions on September 1 boosted sales in August and depressed sales in September.

Eurofins under pressure. Eurofins is suffering because of the publication of a research report by a British management, according to Jefferies. This report attacks the complexity of the company and the complexity of its balance sheet. Nothing very new, according to the analyst, but it weighs today. The fund is positioned for sale.

Solid. Roche exceeded market expectations in the third quarter, with 9% growth in sales. As in the previous two quarters, management has raised its forecasts, anticipating an increase of around 10% this year, compared to the "5 to 9%" range previously envisaged.

Progress in Detroit? General Motors and the UAW union are reportedly close to an agreement after a 30-day strike, according to information from the Wall Street Journal. The manufacturer's president, Mary Barra, participated directly in negotiations with union officials to influence the final decision.

New at Alphabet. Google unveiled its Pixel 4 smartphone and a new affordable laptop yesterday in New York City. The Internet giant has also planned to launch, like some of its counterparts, a streaming video game platform, Stadia, expected on November 19. The Pixel 4 will be sold from October 24 in several regions of the world.

A possible takeover bid. The investment fund Apollo Global Management approached Tech Data with an offer of around $5 billion, or USD 130 per share, according to Bloomberg information. The distributor of technological products was quoted before the announcement USD 111.34.

Compromise on prescription. In the latest rumors, the drug distribution sector in the United States could seal an $18 billion judicial compromise to end the multiple opioid trials. McKesson, AmerisourceBergen and Cardinal Health  have agreed to pay such a sum over 18 years. Other companies, including J&J, could join the agreement.

In other news. European antitrust could demand as early as this Wednesday from Broadcom that it stop its restrictive practices towards its customers during the EU investigation, according to the Financial Times. MGM sells the Bellagio to Blackstone for $4.25 billion in a sale and lease-back transaction. Next's CEO sells nearly 10% of his shares to finance a personal investment. D'Ieteren has raised its profit growth forecast to 35% from at least 25% so far. United Airlines has raised its forecasts. The American courts have accused the Turkish bank Turkiye Halk Bankasi of fraud in connection with operations with Iran. Berkshire Hathaway has asked the Fed for the right to increase its stake in Bank of America beyond 10%. Atlantia and the Italian public rail operator Ferrovie dello Stato have agreed to acquire a stake in Alitalia. HSBC is said to have mandated Lazard to sell its retail banking business in France.

Stocks mentioned in the article
ChangeLast1st jan.
AMERISOURCEBERGEN -2.36% 84.04 Delayed Quote.15.69%
APOLLO GLOBAL MANAGEMENT, INC. 0.38% 42.43 Delayed Quote.72.90%
ASML HOLDING N.V. -0.08% 241.85 Delayed Quote.76.33%
ASOS PLC 3.19% 3174 Delayed Quote.39.39%
ATLANTIA SPA -0.48% 22.69 End-of-day quote.26.18%
BANK OF AMERICA CORPORATION -0.24% 33.18 Delayed Quote.34.98%
BANK OF NEW YORK MELLON CORPORATION (THE) -0.28% 49.06 Delayed Quote.4.53%
BERKSHIRE HATHAWAY INC. -0.16% 330986 Delayed Quote.8.34%
CARDINAL HEALTH -0.13% 53.68 Delayed Quote.20.52%
DJ INDUSTRIAL 0.04% 27691.49 Delayed Quote.18.66%
EUROFINS SCIENTIFIC SE -0.88% 451.4 Real-time Quote.38.47%
GENERAL MOTORS COMPANY 0.13% 38.72 Delayed Quote.15.61%
HIGHCO 0.00% 5.44 Real-time Quote.23.22%
HSBC HOLDINGS PLC -1.51% 586.6 Delayed Quote.-9.32%
LONDON BRENT OIL -0.34% 61.99 Delayed Quote.15.20%
MCKESSON CORPORATION 0.10% 140.34 Delayed Quote.27.04%
MERCIALYS 0.32% 12.38 Real-time Quote.3.43%
MGM RESORTS INTERNATIONAL 0.10% 31.44 Delayed Quote.29.60%
NASDAQ 100 -0.17% 8241.911835 Delayed Quote.30.43%
NASDAQ COMP. -0.13% 8464.276795 Delayed Quote.27.73%
NEXTERA ENERGY, INC. 0.06% 222.22 Delayed Quote.27.84%
PNC FINANCIAL SERVICES GROUP 0.17% 152.46 Delayed Quote.30.41%
ROCHE HOLDING AG 0.18% 297.95 Delayed Quote.22.19%
S&P 500 -0.20% 3087.01 Delayed Quote.23.14%
SEGRO PLC 0.29% 838.4 Delayed Quote.42.58%
UNITED AIRLINES HOLDINGS, INC. 0.10% 93.53 Delayed Quote.11.70%
US BANCORP -0.44% 58.64 Delayed Quote.28.88%
US DOLLAR INDEX -0.18% 98.17 End-of-day quote.1.54%
WALGREENS BOOTS ALLIANCE 5.08% 62.25 Delayed Quote.-8.90%

Romain Fournier
© MarketScreener.com 2019
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