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GLOBAL MARKETS LIVE: Alibaba could be Trumpís next target

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08/17/2020 | 10:53am EDT

The week starts with a few earnings reports. Donald Trump wants to ban other Chinese companies in the U.S. Sanofi is buying the biotech company Principia for $3.7 billion. Facebook is not happy with Apple, while Lockheed Martin seals a huge deal in Taiwan.


Earnings season. JD.com, Geely, Demant, Curaleaf and Grand City Properties are among companies posting their results today.

Friendly takeover bid. Sanofi will acquire US biotech company Principia Biopharma (specialist in BTK inhibitors) for $3.68 billion in cash ($100 per share), financed out of treasury stock. The French laboratory has external growth ambitions and adequate resources. Concerning Principia, Bloomberg had already revealed Sanofi's interest a few weeks ago. The transaction will increase the group's exposure to autoimmune and allergic diseases. The two laboratories have been collaborating since 2017.

Alibaba next on Trump’s list. Donald Trump said on Saturday that he could dismiss other Chinese groups, including Alibaba, from the United States after signing an executive order banning American companies from trading with ByteDance, owner of TikTok, and Tencent, which owns WeChat.

No forced marriage. In Japan, political leaders have reportedly evoked a scenario of a merger between Honda and Nissan to create a sector champion, an idea rejected by the management of each manufacturer. The Financial Times reports that this hypothesis was first put forward towards the end of 2019, but that it was immediately rejected by the interested parties. The daily newspaper reminds us that Japan still has eight major brands, Mazda, Subaru, Suzuki and Daihatsu, which are capitalistically linked to Toyota Motor, Honda, Nissan and Mitsubishi.

Beijing not happy about it. Lockheed Martin is finalizing the sale of F-16 fighter jets to Taiwan, as part of an agreement that could go up to $62 billion over 10 years. The basic agreement covers 66 fighter jets. Taiwan had already owned previous generation F-16s since 1992.

Microsoft’s 90 days to buy TikTok. Donald Trump is giving ByteDance 90 days to sell his US interests, thus putting his threats into effect. Microsoft is expected to buy the American assets of the Chinese application, which has 100 million users in the country.

FB criticizes Apple. Facebook was added Friday to the list of companies that criticize Apple for its inflexibility on commissions for its application platform. "We asked Apple to reduce its 30% App Store fee or to allow us to offer Facebook Pay, in order to absorb all the costs of companies in difficulty during Covid-19," but both requests were rejected. More details here.

Arbitrations. Berkshire Hathaway exits The Goldman Sachs Group and Restaurant Brands, reduces its shares in JPMorgan Chase and Wells Fargo and takes a Barrick Gold position. Warren Buffet's holding company shares lost 7% in 2020, significantly underperforming US benchmarks, particularly because of its initial exposure to banking stocks and the airline sector.

In other news. Tesco is to launch a free food delivery service to fight the web giants, its CEO told The Telegraph. The German antitrust authority is launching an investigation into the relationship between Amazon.com and its third-party vendors. Novavax will begin Phase II trials for its experimental coronavirus vaccine. CureVac goes on fire for its entry on the Nasdaq: the stock tripled. The MSC Grandiosa of Costa Crociere (Carnival) is the first cruise ship to return to the Mediterranean Sea.

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 1.50% 312.56 Delayed Quote.47.36%
AMAZON.COM, INC. 1.52% 3211.01 Delayed Quote.73.77%
APPLE INC. 3.71% 115.32 Delayed Quote.57.09%
BERKSHIRE HATHAWAY INC. 0.42% 303000 Delayed Quote.-10.77%
CARNIVAL CORPORATION & PLC 5.53% 12.98 Delayed Quote.-75.80%
CURALEAF HOLDINGS, INC. 7.77% 12.34 Delayed Quote.39.98%
CUREVAC N.V. 6.07% 49.6 Delayed Quote.0.00%
DAIHATSU DIESEL MFG. CO., LTD. -1.44% 410 End-of-day quote.-42.25%
DEMANT A/S -2.34% 200.3 Delayed Quote.-2.24%
FACEBOOK INC 4.92% 280.83 Delayed Quote.36.82%
GEELY AUTOMOBILE HOLDINGS LIMITED 1.01% 16.06 End-of-day quote.5.38%
GRAND CITY PROPERTIES S.A. 2.04% 19.52 Delayed Quote.-8.70%
HONDA MOTOR CO., LTD. 0.10% 2483 End-of-day quote.-19.88%
JD.COM, INC. 3.70% 83.04 Delayed Quote.135.71%
JPMORGAN CHASE & CO. 0.65% 97.17 Delayed Quote.-30.75%
LOCKHEED MARTIN CORPORATION 0.45% 352.44 Delayed Quote.-9.49%
MAZDA MOTOR CORPORATION 0.71% 567 End-of-day quote.-39.55%
MICROSOFT CORPORATION 1.01% 204.72 Delayed Quote.29.82%
MITSUBISHI UFJ FINANCIAL GROUP, INC. -0.07% 411.6 End-of-day quote.-30.61%
NISSAN MOTOR CO., LTD. 0.48% 375.9 End-of-day quote.-40.91%
NOVAVAX, INC. 7.75% 87.63 Delayed Quote.2,101.76%
SANOFI -1.02% 78.23 Real-time Quote.-12.71%
SUBARU CORPORATION -0.03% 1994 End-of-day quote.-26.52%
SUZUKI MOTOR CORPORATION 1.38% 4486 End-of-day quote.-1.77%
TESCO PLC -0.39% 203 Delayed Quote.-20.45%
THE GOLDMAN SACHS GROUP, INC. 0.09% 189.94 Delayed Quote.-17.39%
TOYOTA MOTOR CORPORATION -0.03% 6893 End-of-day quote.-10.64%
WELLS FARGO & COMPANY -0.19% 21.14 Delayed Quote.-60.71%
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