Earnings season. Deutsche Telekom, Analog Devices, Genmab, Worldline, Gecina, Tenaris, Ageas, Atos, Covestro, Plastic Omnium and Puma are among companies reporting their earnings today.
Not a good time for Groupon. Groupon published lower-than-expected quarterly results and unveiled a plan to consolidate its shares. It also announced that it would cease its online product sales activity, citing intense competition.
Transparency required. Boeing has discovered debris in the kerosene tank of the B737 MAX to be delivered, raising further doubts about quality control. "This finding has led to a robust internal investigation and immediate corrective actions in our production chain," said the aircraft manufacturer, forced to achieve very high levels of transparency to restore confidence: just a few months ago, this news would not have been made public.
Auto parts. Jaguar Land Rover (Tata Motors) has enough spare parts from China to continue production in Britain for two to three weeks, but not beyond. Its managing director also said the group is currently not making any sales in China because of the epidemic.
Tesla is on fire again. Tesla finished with the strongest rise in the Nasdaq yesterday, 7.3%, after raising Bernstein's target price from USD 325 to USD 730, which makes amends for its hitherto cautious position, but still finds it difficult to justify the valuation achieved by the company. The stock closed at USD 858.40 yesterday.
In other news. Blue Apron is considering various strategic options, including putting the company up for sale after further losses. EG Group is proposing a partial buyout of Caltex Australia in the face of the improved supply of Alimentation Couche-Tard. Swiss Re finalizes its share buyback program of CHF 1 billion. Alphabet will definitively dispose of its subsidiary dedicated to the design of small wind turbines flying at the end of a cable, Makani. Roche obtains a priority review in the United States for Tecentriq.