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GLOBAL MARKETS LIVE: New iPhone 5G, Facebook bans QAnon groups…

10/07/2020 | 10:07am EST

In today's corporate news, Apple is set to introduce an iPhone 5G next week. General Electric is going to get a slap on the wrist. Boeing has hope for the B737 MAX, while Airbus is signing orders outside of civil aviation.

Some good news for Boeing and Airbus. France orders 10 NH90 helicopters from Airbus for its special forces. In addition, the aircraft manufacturer won six orders for the latest addition to its ACJ business jet range, the TwoTwenty, based on the A220, the aircraft inherited from Bombardier. Meanwhile, the U.S. Federal Aviation Administration (FAA) on Tuesday released a draft report on a review of Boeing 737 MAX pilot training procedures, an important step toward lifting the flight ban on the aircraft, which was involved in two air disasters. The aeronautical group's share price gained 1.8% in the run-up to the stock market.

GE soon to be sanctioned. The SEC is about to accuse General Electric of accounting fraud, an accusation that was hanging over the conglomerate's head. The company confirmed that it had received a communication from the stock exchange regulator. The new management team will have to answer for catastrophic management in recent years, which has led the group into an impasse and forced it to take drastic restructuring decisions.

Airline support. On Twitter, Donald Trump urged Congress to pass a new $25 billion plan to help jobs in the airline industry, hours after freezing talks on a plan to support the U.S. economy.

Soft Power. Unsurprisingly, the U.S. parliamentary report on the behavior of technology giants Alphabet, Apple, Amazon.com and Facebook shows significant abuses of dominance and compares these ex-start-ups to the oil barons and railroad tycoons of yesteryear. At this stage, however, it is impossible to say what the real consequences of the nearly 450-page document will be on the future of these companies, which are also flagships of the new American soft power.

Apple 5G. Apple has organized an event on October 13, during which it is expected to present its new iPhone family. Specialists are notably expecting the presentation of an iPhone 5G.

Not before the election. The FDA requires two months of reliable data before granting emergency marketing authorization for Covid-19 vaccines, which will not change the theoretical order of arrival of the data, with the Pfizer / BioNTech duo by the end of the month, before Moderna soon after (but availability of data does not mean availability of the vaccine). GlaxoSmithKline and Vir Biotechnology are moving their Covid-19 treatment into Phase III.

At a glance. Continental is considering the divestiture of some of its automotive divisions, including Vitesco Technologies and Contitech. Levi Strauss jumped more than 10 percent in the off-season following the release of its quarterly reports. Facebook bans all groups related to the QAnon conspiracy. Good performance for Tesco in the first half of the year, but slightly below expectations.

© MarketScreener.com 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 1.31% 96.24 Real-time Quote.-26.24%
ALPHABET INC. 0.11% 1823.76 Delayed Quote.36.16%
AMAZON.COM, INC. -0.76% 3162.58 Delayed Quote.71.15%
APPLE INC. -0.56% 122.25 Delayed Quote.67.46%
BIONTECH SE 1.11% 120 Delayed Quote.254.19%
CONTINENTAL AG 1.04% 117 Delayed Quote.1.51%
FACEBOOK INC -0.76% 279.7 Delayed Quote.36.27%
GENERAL ELECTRIC COMPANY 2.64% 10.88 Delayed Quote.-2.51%
GLAXOSMITHKLINE PLC 0.81% 1386 Delayed Quote.-22.09%
LEVI STRAUSS & CO. 2.22% 19.83 Delayed Quote.2.80%
MODERNA, INC. -3.01% 152.52 Delayed Quote.679.75%
PFIZER, INC. 0.62% 40.34 Delayed Quote.8.67%
TESCO PLC -0.92% 226.5 Delayed Quote.-11.25%
TWITTER -0.13% 47.73 Delayed Quote.48.92%
VIR BIOTECHNOLOGY, INC. -0.29% 31.41 Delayed Quote.149.78%