Earnings season. Tencent Holdings, Cisco, Orsted, Foxconn, E.ON, Zoetis, Genmab, Novozymes and Just Eat Takeaway are among companies reporting their results today.
-A few business results:
ABN Amro: the Dutch bank is in deficit in the second quarter, but moderately so, as it lost "only" €5 million. It highlights its high prudential ratios, in particular a CET1 of 17.3% under Basel III standards and 14% under Basel IV standards.
E.ON: the German energy company abandoned its previous targets when it published its second quarter results. However, the CEO felt that visibility had improved for the second half of the year.
Evotec: sales increased by 12% to €231 million, but adjusted Ebitda contracted to €47.3 million. The German company confirms its projections for sales (between €440 and €480 million) and adjusted EBITDA (between €100 and €200 million) for the year, but slightly raises its investment forecast.
Just Eat Takeaway: the group specializing in home meal delivery announced a 44% jump in its half-year sales to €1 billion, with adjusted EBITDA up to €177 million.
In the dock. Credit Suisse, BNP Paribas, ING Groep, Natixis, Rabobank and UBS are accused by Stand.earth and Amazon Watch of being the main banks that financed the transfer of around $10bn of oil from Ecuador to US refineries over the last decade. Since then, some have made commitments to distance themselves from this type of project. But to what extent?
Kabbage for sale. American Express is well advanced in its negotiations to buy Kabbage, a fintech specializing in small business loans, for $850 million. The company's shareholders include SoftBank and Reverence Capital Partners. The Barron's revealed the existence of expressions of interest in Kabbage a few days ago.
Too expensive! Tesla is going to split his stock 5-for-5. This will improve the liquidity of the share and make it more accessible. As has been the case for some time now, each announcement by the American manufacturer is accompanied by a post-show surge, +7% in this case. The share was trading yesterday at the close of trading at USD 1374.
Moderna inflates its order book. The United States has signed a $1.5 billion order with Moderna for 100 million doses of the potential Covid-19 vaccine. The laboratory hopes to have completed a phase III trial in September on a large cohort of 30,000 patients, with positive results. In the field of clinical trials, vaccines present fewer risks than most other treatments in advanced phases.
Airbnb on the stock market, it's becoming clearer. According to the Wall Street Journal, Airbnb will file for a Wall Street listing by the end of the month. This could allow the company to go public before the end of the year. Goldman Sachs and Morgan Stanley would be at the helm.
At half-mast. Boeing had no orders in July, and even recorded 43 additional cancellations for its B737MAX, bringing the total number of cancellations to 398 in 2020. The company delivered only four aircraft during the month, two B787s and two cargo planes.
Sunrise finally repurchased. The Board of Directors of Sunrise recommends a takeover bid for Liberty Global at CHF 110 per share. The sea serpent of consolidation in the European telecoms industry is thus making an appearance in Switzerland, with the announcement of this friendly takeover bid, which values the Swiss operator at CHF 6.8 billion. It has received the unanimous support of Sunrise's directors. Last year, a takeover of Liberty Global's Swiss subsidiary by Sunrise had failed. The roles were reversed.
In other news: Wisekey invests $5.5 million in the German company Arago. Microsoft is postponing the release of its flagship title, Halo, until 2021. Information obtained by Bloomberg suggests that Brookfield is negotiating the purchase of Blackstone's shares in Cheniere Energy. Qualcomm wins appeal against the sanction of the American antitrust, which is appealing. The Wall Street Journal has learned that TikTok collects personal information about its users via a method banned by Google. UBI Banca will exit the Italian stock market on September 18, after the successful takeover bid by Intesa Sanpaolo.