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GLOBAL MARKETS LIVE: Busy session on the M&A front

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08/18/2020 | 09:05am EDT

Mergers & acquisitions are multiplying, including American Express on Kabbage and the rumors of the arrival of a new suitor on the TikTok case. US earnings reports will give a good indication of US consumer morale.

Earnings reports: Walmart, The Home Depot, BHP Group, Coloplast, Agilent, Alcon, Persimmon and Pandora are among companies reporting their results today.

After Microsoft and Twitter, Oracle is rumored to have positioned itself to buy the American, Canadian, Australian and New Zealand activities of TikTok, according to information obtained by the Financial Times. The software giant is said to have made contacts with American investors already present in the capital of the parent company, ByteDance, including General Atlantic and Sequoia.

Epic. Epic Games, the publisher of Fortnite, has launched a lawsuit to prevent Apple from excluding the game from its application store. The lawsuit also aims to prevent the apple brand from banning other games from the publisher. The two companies have been engaged in an arm-wrestling match, which is expected to result in Epic's total exclusion from Apple's development tools on August 28. More details here.

It's all wrapped up. American Express has confirmed the purchase of the fintech Kabbage, with the exception of its pre-existing loan portfolio, under conditions that were kept secret, while rumors had recently been circulating that the price was $850 million. Kabbage specializes in lending to SMEs.

M&S in the hard core. Marks & Spencer has announced that 7,000 of the company's 80,000 jobs will be lost over the next three months due to the pandemic. The UK will be the first to be affected, both in stores and in support functions.

Speculation. Amazon.com has views on a minority share of the capital of the computer group Rackspace, held by the Apollo fund. Rackspace shares jumped 10% yesterday, bringing its capitalization to $3.645 billion.

It's expected to improve. Pandora is expecting a good sales dynamic in the second half of the year, which will not prevent a contraction of 14 to 20% in its annual sales, while the operating margin should be between 16 and 19% excluding restructuring costs.

In other news. According to the Wall Street Journal, Chevron has started discussions to invest in a major Iraqi oil field. In the so-called opioid crisis, the demands of the American states against the Purdue Pharma laboratory have reached $2,200 billion. Zur Rose completed the acquisition of the mail order and diabetes business of the German company Apotal. Another strong session for Tesla yesterday, with the stock closing up more than 11% at USD 1835, after Wedbush raised its target price from USD 1800 to USD 1900. Nestlé Health Science acquires the American company IM Healthscience, a specialist in dietary products.

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -5.45% 3036.15 Delayed Quote.64.31%
AMERICAN EXPRESS COMPANY 0.19% 91.24 Delayed Quote.-26.71%
APPLE INC. -5.60% 108.86 Delayed Quote.48.29%
CHEVRON CORPORATION 1.02% 69.5 Delayed Quote.-42.33%
EPIC GAS LTD 0.00% 14.3 End-of-day quote.-2.05%
MICROSOFT CORPORATION -1.10% 202.47 Delayed Quote.28.39%
ORACLE CORPORATION 0.16% 56.11 Delayed Quote.5.91%
PANDORA A/S -0.94% 506.2 Delayed Quote.74.67%
TESLA, INC. -5.55% 388.04 Delayed Quote.363.80%
TWITTER -21.11% 41.36 Delayed Quote.29.05%
ZUR ROSE GROUP AG -1.92% 255.5 Delayed Quote.138.79%
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