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GLOBAL MARKETS LIVE: Netflix, Google, Intel…

10/20/2020 | 10:31am EST

IBM, Logitech and UBS released their results today. Financial transactions continue with Intel's sale of its NAND memories to SK Hynix.

Earnings season: The Procter & Gamble, Netflix, Texas Instruments, Philip Morris, Reckitt Benckiser, Vinci, UBS and Vivendi are among companies reporting their earnings today.

A few results:

International Business Machine: loses about 3% after the session following the publication of its quarterly reports marked by the absence of forecasts.

Kuehne + Nagel: the quarterly figures are better than expected for the logistician.

Logitech: quarterly results surge well beyond expectations.

Reckitt Benckiser: 3rd quarter double-digit organic growth exceeds expectations.

UBS Group: results are better than expected and allow the bank to announce that it has $1.5 billion to buy back shares. In addition, Robert Stoker (Bernstein) joins UBS's US wealth management business.

Google in the hot seat. The U.S. Department of Justice will file an antitrust complaint today alleging that Google engaged in anticompetitive behavior to preserve its monopolies on search and search-related advertising, according to the Wall Street Journal.

$2bn. Goldman Sachs reportedly agreed to pay more than $2 billion to settle a dispute with the U.S. Department of Justice over its role in the Malaysian sovereign wealth fund 1MDB scandal, Bloomberg reports.

Intel slims down. Intel is selling its NAND memories to SK Hynix for $9 billion. The Korean is number 2 in the world for DRAM chips but only number 4 in NAND memories. It will thus reduce the gap on his rival and compatriot Samsung.

In other news. Moderna's CEO expects preliminary results of its Covid-19 vaccine to be available in November. Tigerluxone places 22 million TeamViewer shares. According to Reuters, Didi's Chinese would consider an IPO in Hong Kong in 2021 on the basis of a valuation of around $60 billion.

© MarketScreener.com 2020
Stocks mentioned in the article
ChangeLast1st jan.
GOLDMAN SACHS BDC, INC. 1.24% 18.84 Delayed Quote.-11.47%
INTEL CORPORATION 0.69% 49.9 Delayed Quote.-17.19%
KUEHNE + NAGEL INTERNATIONAL AG -2.75% 196.05 Delayed Quote.23.53%
LOGITECH INTERNATIONAL S.A. -1.66% 78.02 Delayed Quote.73.12%
MODERNA, INC. 1.41% 143 Delayed Quote.631.08%
NETFLIX, INC. -0.24% 503.38 Delayed Quote.55.57%
PHILIP MORRIS INTERNATIONAL, INC. 1.35% 78.07 Delayed Quote.-8.25%
PROCTER & GAMBLE COMPANY -0.72% 138.36 Delayed Quote.10.78%
RECKITT BENCKISER GROUP PLC -1.52% 6348 Delayed Quote.3.61%
SK HYNIX, INC. 8.46% 109000 End-of-day quote.15.83%
TEXAS INSTRUMENTS -0.47% 162.72 Delayed Quote.26.84%
UBS GROUP AG -0.88% 12.89 Delayed Quote.6.38%
VINCI SA 0.32% 88.4 Real-time Quote.-10.71%
VIVENDI SE 0.08% 25.2 Real-time Quote.-2.40%