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OFFON

GLOBAL MARKETS LIVE: AIG, Toyota Motor, Allianz…

11/06/2020 | 10:09am EST

For the last session of the week, plenty of results, including Uber, Electronic Arts, Peloton, Toyota, Honda and Bandai Namco. On the financial operations side, the British insurer RSA is the subject of a takeover bid.

Earnings season. Toyota Motor, Allianz, CVS Health, Honda Motor, Compagnie Financière Richemont, Marriott, The Hershey, Bandai Namco, Axel Springer, Royal Vopak and Scor SE are among companies reporting their earnings today.

A few results:

  • AIG reported third quarter 2020 net income of $281 million, or 32 cents per share, compared with $648 million, or 72 cents per share, at the same time last year.
  • Allianz: Q3 operating profit of €2.91bn is above consensus expectations at €2.65bn.
  • Compagnie Financière Richemont: the Geneva-based luxury goods group posted much higher than expected half-year results.
  • Electronic Arts: despite solid results, investors are sanctioning the share price out of session.
  • Macquarie Group: the Australian financial group recorded a 32% drop in annual profits due to an increase in the cost of risk.
  • Peloton Interactive: the manufacturer of connected sports equipment raises its 2020 targets, but does not convince the market, with a stock losing 7% after the session.
  • T-Mobile US: Deutsche Telekom's subsidiary T-Mobile US publishes convincing results, with the stock gaining more than 6% after the session.
  • Toyota Motor: the Japanese manufacturer has significantly raised its forecast for operating profit 2020/2021 for the fiscal year ending at the end of March.
  • Uber: the group posted a loss of $1.1 billion in Q3. The stock lost 1.9% post-season.

In other news:

  • British insurer RSA Insurance has received a takeover offer denominated at 685 GBp by the Tryg / Intact Financial duo, valuing the company at £7.1 billion.
  • Compagnie Financière Richemont and Alibaba will each invest $300 million in Farfetch and $250 million in a new Chinese joint venture with Farfetch.
  • General Motors plans to sell large-format SUVs in China, including under the GMC brand, Reuters has learned.
  • Hertz Global is securing $4 billion in financing for its fleet.
  • Japan Airlines launches a capital increase of JPY168 billion.
  • Carl Icahn increases Xerox's stake to 14%.
  • Banque Profil de Gestion SA wants to merge with One Swiss Bank.

© MarketScreener.com 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIGAN CO.,LTD. 1.33% 229 End-of-day quote.0.00%
ALIBABA GROUP HOLDING LIMITED -2.13% 260.25 Delayed Quote.11.82%
ALLIANZ SE -1.41% 190.3 Delayed Quote.-5.18%
AXEL SPRINGER SE 7.84% 55 End-of-day quote.0.00%
BANDAI NAMCO HOLDINGS INC. 2.91% 9544 End-of-day quote.6.92%
BANQUE PROFIL DE GESTION SA 0.00% 1.96 Delayed Quote.-19.01%
COMPAGNIE FINANCIÈRE RICHEMONT SA -1.15% 82.76 Delayed Quote.3.35%
CVS HEALTH CORPORATION -2.44% 72.42 Delayed Quote.6.03%
ELECTRONIC ARTS INC. -0.05% 146.23 Delayed Quote.1.83%
GENERAL MOTORS COMPANY -5.19% 49.34 Delayed Quote.18.49%
HERTZ GLOBAL HOLDINGS, INC. 0.00%End-of-day quote.0.00%
HONDA MOTOR CO., LTD. -0.95% 2824.5 End-of-day quote.-1.84%
JAPAN AIRLINES CO., LTD. -0.21% 1890 End-of-day quote.-5.26%
MACQUARIE GROUP LIMITED -0.01% 137.08 End-of-day quote.-1.01%
MARRIOTT INTERNATIONAL, INC. -2.47% 117.47 Delayed Quote.-10.95%
PELOTON INTERACTIVE, INC. -1.91% 144.96 Delayed Quote.-4.46%
ROYAL VOPAK N.V. 0.91% 42.37 Real-time Quote.-1.44%
RSA INSURANCE GROUP PLC -0.12% 676.4 Delayed Quote.-0.21%
SCOR SE -1.41% 25.14 Real-time Quote.-4.84%
T-MOBILE US -6.19% 123.27 Delayed Quote.-8.59%
THE HERSHEY COMPANY -2.23% 146.19 Delayed Quote.-1.84%
TOYOTA MOTOR CORPORATION 0.22% 7677 End-of-day quote.-3.52%
UBER TECHNOLOGIES, INC. -7.34% 48.11 Delayed Quote.-5.67%
XEROX HOLDINGS CORPORATION -0.95% 20.87 Delayed Quote.-9.14%