Earnings season. Novo Nordisk, AbbVie, Exxon Mobil, Chevron, Honeywell, Total, Altria, LafargeHolcim, Colgate-Palmolive, Safran, Itochu, Cellnex, Glencore, Swiss Re and NatWest are among companies reporting their results today.
A few results:
- Alphabet’s share price rose sharply following the publication of higher than expected results.
- Amazon.com: In the fourth quarter, the e-tailer should post record results, after an already very strong third quarter, thanks in particular to AWS.
- Apple: the stock is losing more than 4% off session. If results have exceeded expectations, iPhone sales are a little disappointing.
- Facebook: the stock lost ground after the close in the wake of good results but cautious comments on 2021.
- LafargeHolcim: the cement manufacturer reported better than expected quarterly results, both in terms of sales and operating income. It was relatively confident for the rest of the year.
- NatWest: results are slightly higher than expected, and annual provisions will be in the low range of what was previously announced.
- Starbucks: Share price fell on mixed outlook
- Total: The oil major suffered a 72% contraction in net profit in the third quarter, but the quarterly dividend of EUR 0.66 per share is maintained. Total has revised downwards its 2020 investment forecasts.
- Twitter: the stock drops 17% after the session after the announcement of a weaker-than-expected quarterly number of users.
In other news:
- Continental's CEO must resign for health reasons.
- AB Volvo will sell its UD division (formerly Nissan Diesel) to Isuzu as part of a joint venture for SEK 20 billion.
- Netflix rose 3% yesterday after announcing a price increase in the US.
- BP Plc will close Australia's largest refinery to convert it into an import terminal.
- LG Chem shareholders approved the principle of a spin-off of the battery business.
- Exxon Mobil will cut 14,000 jobs worldwide, or about 15% of its workforce, to cope with the new oil situation.
- Takeda signs a distribution contract for Moderna's future Covid-19 vaccine in Japan, with the support of authorities.
- AMP Limited was approached by Ares Management for an acquisition.
- Prosus will repurchase $5 billion of Naspers and Prosus shares.
- Roche obtains a new green light from the FDA for its Cobas test.
- Partners Group and UBS Group join forces in wealth management products.