Earnings season. L'Oréal, Philip Morris, Cigna, Equinor, ING Groep, Compass, Nordea, Swisscom, Nokia, Skechers and T-Mobile are among companies reporting their earnings today.
Celgene boost. Bristol-Myers Squibb saw its operating profit jump by nearly 30% year-on-year thanks to the partial integration of Celgene, whose buyout for 74 billion dollars (67.3 billion euros) was completed in November.
Good news for the auto industry. Fiat Chrysler recorded an increase of 7.1% increase in its quarterly Ebit to 2.12 billion euros, a result in line with expectations supported by the dynamism of its activities in North America and an improvement in Latin America.
One billion. Twitter announced that has passed the one-billion-dollar mark in quarterly revenues for the first time, a better than expected performance, thanks to a faster than expected growth in the number of its users. However, its net profit was below consensus.
Virus impact. Estee Lauder has revised downwards its profit forecast for fiscal year 2020 due to the expected impact of the coronavirus epidemic in China, one of its main markets.
Other results. Unlike Ford's, General Motors' quarterly results are better than expected. Toyota Motor raises its annual forecasts. Dätwyler suffers a heavier-than-expected loss in 2019. Nordea's earnings cut in half. Equinor exceeds expectations in Q4.
Radical action. Intelsat would consider filing for Chapter 11 bankruptcy protection if the U.S. authorities don't increase the C-band bailout pay for the 5G, according to Bloomberg. Such a procedure, if initiated, would probably thwart federal plans, which are severely opposed by industry players.
Head to tail. After doubling since the beginning of the year, Tesla stock collapsed by 17% yesterday: and it’s difficult to understand what’s happening! The share's violent surge in recent months shows the singularity of the issue, whose capitalization is now the second largest in the world behind Toyota Motor. To justify its status, the company will have to convince with a future trajectory of results worthy of this craze.
Everything to be redone. BP Plc is looking for a buyer for its stake in the Algerian natural gas site of In Amenas, after the failure of discussions with Rosneft, Reuters has learned. A failure which would have been caused by the reluctance of the other main shareholder, Equinor, to do business with the Russian.
The courted DB. The Deutsche Bank share offered itself a gain of 9% in the session, after the rise in the capital of Capital Group. The American pension fund took 3.1% of the capital.
In other news. The European Commission on Wednesday launched an investigation into Qualcomm's competitive practices in the market for radio frequency chips for smartphones. Partner Communications will examine the takeover bid submitted by Altice Europe through its Israeli subsidiary HOT, which values the company at €930 million. Anheuser-Busch Inbev's CFO will resign. Three institutional shareholders of Credit Suisse are urging the bank's president to publicly support CEO Tidjane Thiam in the spinning mill affair that is shaking the institution. Foxconn expects to resume full production in China at the end of February. Huawei accuses Verizon of patent infringement. Advent will buy Forescout at USD 33 per share.