Earnings season. Apple, Amazon.com, Alphabet, Facebook, Samsung Electronics, Comcast, Shopify, Sanofi, NTT Docomo, Anheuser-Busch Inbev, Starbucks, Royal Dutch Shell, Volkswagen, Airbus, Equinor, Orange... In all, more than 160 companies weighing more than $10 billion are publishing their results today.
A few results:
- Airbus: The Group, which posted a net loss of €2.68 billion over nine months, is targeting at least break-even in adjusted free cash flow in the fourth quarter.
- Sanofi: the laboratory has raised its 2020 earnings per share forecast after good figures in the third quarter.
- Amgen: the laboratory has raised its annual forecast.
- Anheuser-Busch Inbev: the brewer reported an Ebitda of $4.9 billion in Q3, above consensus.
- Clariant: over nine months, sales decreased by 6% to CHF 2.84 billion.
- Credit Suisse: The bank reported net income of CHF 546 million in Q3, down 38% and below consensus expectations.
- Deutsche Börse: Q3 results are down, but annual targets remain unchanged.
- eBay: Q3 results do not really convince the market, with a stock losing 4% after the announcement.
- Equinor: results are below expectations, due to a higher than expected impairment charge on oil assets.
- Ford Motor: earnings exceed $2 billion in Q3, above expectations. The stock gained 5% in the off-season.
- Nokia: Finland's telecom network specialist reported net earnings below expectations in Q3.
- Pinterest: The stock soared 30% in the quarter after the publication of promising results.
- Royal Dutch Shell: Quarterly earnings are lower than expected, but the oil majors are still proposing a slightly higher dividend.
- Standard Chartered: the British bank with a strong presence in Asia reported better-than-expected results, thanks in particular to lower provisions for bad debts.
- Samsung: Third quarter results were higher than expected, while the fourth quarter is expected to be somewhat weaker due to lower demand for microchips.
- Sony: The share price is rising in Tokyo, following an increase in annual targets.
- Sunrise: UPC holds 96.5% of the capital after its takeover bid.
- Visa: Quarterly figures are down, but less than expected.
- Volkswagen: the manufacturer has returned to profitability in Q3, as it had recently hinted.
- WPP: the organic contraction in business is slightly less than expected in Q3.
In other news:
- LVMH has convinced Tiffany to accept a lower offer than initially expected to avoid a long and costly lawsuit. The French company reduced its proposal from USD 135 to USD 131.50 per share from the jeweler, who accepted it. The legal actions are cancelled.
- Ericsson has been chosen by UK operator BT Group to deploy the 5G mobile network in several major cities in the UK.
- The Senate hearing of Facebook, Google and Twitter bosses was long and tense.
- Regeneron's Covid processing data is more robust than Eli Lilly's data.
- Exxon Mobil maintains a quarterly dividend of USD 0.87.
- The remdesivir has already yielded around $900 million to Gilead
- Toyota is recalling 5.84 million vehicles worldwide due to a fuel pump defect, primarily in North America. Initially, the recall was expected to involve approximately 3.2 million vehicles.
- Kioxia, Toshiba's division that was unable to complete its IPO, will invest $9.5 billion in a state-of-the-art plant to meet 5G demand.
- Dow Jones understands that Marvell Technology will acquire Inphi.
- Harley-Davidson launches an electric bicycle company....