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Tiffany is part of LVMH, Tesla gives some bad news, a $30 billion merger on the horizon…

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02/05/2020 | 10:09am EDT

Some financial operations today, such as LVMH, which is going to complete the acquisition of Tiffany. We also have ICE, which is interested in eBay, or Bombardier, which could sell its business jets to the American Textron.

Earnings season. Merck, Novo Nordisk, Costco Wholesale, GlaxoSmithKline, Siemens, Qualcomm, BNP Paribas, Vinci, Vodafone, ABB, General Motors, Aperam, Unicredit and Infineon are reporting their earnings today.

Nike impacted by coronavirus. Nike warned yesterday that the ongoing coronavirus outbreak in China will have a marked impact on its activities in the region. The stock lost nearly 3%.

Change in the pharmaceutical sector. Merck announced today that it plans to split its women's health, biosimilars and legacy products businesses into a new listed company to focus on oncology, vaccines, hospital products and animal health.

Bad news for Tesla. Tesla lost 4.7% in pre-stock market trading after it announced delays for the delivery of part of its February production of Model 3 in China due to the coronavirus. Meanwhile, Elon Musk talked about a new Tesla factory in Texas.

The ring on the finger. Tiffany's shareholders approved the proposed acquisition by LVMH for €14.7 billion. The transaction is expected to be completed in the middle of the year. With this acquisition, Bernard Arnault's group strengthens its jewelry division and its position as world number one in luxury goods.

Dismantling in progress? Bombardier is negotiating the sale of its business aviation branch to Textron (owner of Cessna in particular), according to the Wall Street Journal. The Canadian group had already sold its CSeries business aviation program (now the A220) to Airbus and would be discussing with Alstom a marriage in the rail sector. The stock soared 18% yesterday on the stock market with the announcement of the Textron rumor. If all the deals go through, there won't be much left of Montreal's industrial flagship.

Amazing merger. Intercontinental Exchange approached eBay for a buyout for more than $30 billion. The Wall Street Journal revealed yesterday the existence of informal discussions, before the ICE confirmed its interest. The exchange operator would only be interested in the marketplace but not in the classifieds, which could be sold, according to the scheme unveiled by the financial newspaper.

Balance sheet. Walt Disney (slightly down after closing) is reporting good results and claims 28.6 million subscribers for its new video service. Heavy loss for Ford, whose share price fell by more than 9% after the closing, and disappointment for Snap (-10%). Imperial Brands takes over after its accounts.

Recomposition. Siemens buys Iberdrola's 8.1% stake in Siemens Gamesa for €1.1bn, or €20 per share, against a current price of €15.78. The Siemens Gamesa share has made up, in three days, the backlog accumulated on January 30 after the publication of very poor results.

In other news. Credit Suisse's Board of Directors is today discussing the possible consequences of the spy and spinning business. Google and Tinder (Match Group) are the targets of an investigation in Europe into the use of personal data, revealed the Irish Data Protection Commission. Macy's will close 125 of its least profitable stores and cut 2,000 jobs. Amazon.com passes the $1 trillion capitalization mark for the first time. The boss of Best Buy remains in office after being cleared by an internal investigation into his behavior. Greenpeace blocks the BP Plc headquarters for the arrival of the new boss.

Stocks mentioned in the article
ChangeLast1st jan.
ABBOTT LABORATORIES 0.01% 79.45 Delayed Quote.-8.53%
AMAZON.COM, INC. -0.64% 1906.59 Delayed Quote.3.18%
APERAM -0.98% 19.195 Delayed Quote.-32.67%
BEST BUY CO., INC 1.36% 53.48 Delayed Quote.-39.09%
BNP PARIBAS -5.03% 24.735 Real-time Quote.-53.18%
BOMBARDIER INC. -4.71% 0.405 Delayed Quote.-79.02%
COSTCO WHOLESALE CORPORATION -0.97% 288.65 Delayed Quote.-1.79%
CREDIT SUISSE GROUP AG -1.14% 7.626 Delayed Quote.-41.81%
EBAY INC. 0.75% 29.41 Delayed Quote.-18.55%
GENERAL MOTORS COMPANY -0.82% 18.04 Delayed Quote.-50.71%
GLAXOSMITHKLINE 0.08% 1489.4 Delayed Quote.-16.28%
INTERCONTINENTAL EXCHANGE, INC. -0.18% 80.99 Delayed Quote.-12.49%
MATCH GROUP, INC. 2.43% 63.7 Delayed Quote.-22.42%
MERCK & CO., INC -0.81% 76.25 Delayed Quote.-16.16%
NIKE, INC. -1.60% 78.86 Delayed Quote.-22.16%
NOVO NORDISK A/S 2.19% 417.3 Delayed Quote.7.93%
QUALCOMM, INC. -4.10% 65.23 Delayed Quote.-26.07%
SIEMENS AG -0.09% 76.33 Delayed Quote.-34.50%
TESLA, INC. 5.62% 480.01 Delayed Quote.14.74%
TIFFANY & CO. -1.15% 128.28 Delayed Quote.-4.02%
UNICREDIT S.P.A. -3.53% 6.54 Delayed Quote.-49.77%
VINCI -1.94% 63.84 Real-time Quote.-35.52%
VODAFONE GROUP PLC 0.76% 110.8 Delayed Quote.-24.35%
WALT DISNEY COMPANY (THE) -3.19% 93.88 Delayed Quote.-35.09%

Romain Fournier
© MarketScreener.com 2020
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