Earnings season. Zscaler, Somfy, Computacenter, Dermapharm, Technogym, Boiron, Neurones and Samse are among companies posting their results today.
Covid break. AstraZeneca suspended its Covid-19 vaccine trial after one of the participants developed an unexplained illness while safety data was reviewed. This is not an uncommon event in clinical development, but comes at a time when the race against time against the pandemic is on. However, only one out of thousands of patients would be affected.
LVMH backstracks. The takeover of Tiffany by LVMH seemed highly compromised on Wednesday, after the global luxury giant announced that it was "unable" to complete the transaction "as is".Tiffany decided to take legal action.
Battle Royale Apple / Epic. Apple is counter-attacking Epic Games, the publisher of Fortnite, which it accuses of having violated its contractual obligations by offering its users a payment method that bypasses the App Store. The publisher had previously attacked the brand for its pricing policy. In addition, Apple has scheduled commercial announcements for September 15, which could concern 5G iPhones in particular.
Annus Horribilis. Boeing received five orders for B737 MAXs in August, but also received 17 cancellations, leaving the balance of the aircraft largely negative for the year. At the same time, inspections necessitated by defective parts on the B787 will slow the pace of delivery of the wide-body aircraft.
Still higher. Jeff Bezos (Amazon.com) leads the Forbes ranking of the world's richest people for the third consecutive year. The CEO took advantage of the appreciation in the stock market value of his company's stock on the stock exchange. He was followed by Bill Gates (Microsoft), Bernard Arnault (LVMH) and Warren Buffet (Berkshire Hathaway).
Giant contract in missiles. Northrop Grumman receives a huge $13.3 billion contract from the Pentagon to develop a new ballistic missile. The company's work will be spread over more than eight years, to provide the U.S. Air Force with new capabilities beginning in 2029. Numerous subcontractors from the U.S. aerospace sector are associated with the project.
Adopt a bank. Banco de Sabadell is considering a merger with Banco Bilbao Vizcaya Argentaria, one more move in the ongoing consolidation of the bank in Spain. The Spanish market is currently buzzing with rumors after the announced merger between CaixaBank and Bankia. An indiscretion of the Spanish press suggests that another option would be a cross-border merger, why not with Crédit Agricole or BNP Paribas, writes El Confidencial.
The shadow of a doubt. JPMorgan Chase is investigating allegations of misappropriation of Covid-19 support funds by bankers and clients in the United States. The bank has detected actions contrary to its code of conduct concerning loans dedicated to SMEs in particular.
A few results. Slack falls by 18% after the session despite higher than expected results. Lululemon loses 6% post session. Tullow Oil is looking for financing leads after a heavy loss.
In other news. Tullow Oil is looking for financing opportunities after heavy losses. GTT Communications is close to selling its European assets to Macquarie, AustralianSuper and 3i for $2 billion, according to Bloomberg. Tesla lost 21% yesterday, "more than the combined value of General Motors and Ford" in terms of capitalization, Reuters noted. Samsung and LG Display will stop supplying displays to Huawei because of restrictions put in place by the United States. Bloomberg understands that Nintendo will increase its Switch production by another 20%. Bucher Industries acquires Australian Spoutvac.