GLOBAL MARKETS LIVE: Shopify, Rio Tinto, Baidu...
The session is again dominated by corporate results, especially those of a few European heavyweights such as Kering, Ahold Delhaize, Akzo Nobel and Rio Tinto. Nestlé is selling its regional mineral waters in the United States and Kinnevik will distribute Zalando shares to its shareholders.
Shopify, Rio Tinto, Baidu, CSL Limited, British American Tobacco, Kering, Ahold Delhaize, Schindler, Capgemini, Beiersdorf, Akzo Nobel and CNP Assurances are among companies reporting their results today.
- AIG reported a loss of $60 million in Q4compared to a profit of $922 million a year ago. The U.S. insurer explains that this loss is mainly due to realized capital losses on derivatives, amounting to $1.2 billion.
- Kering: net profit declined less than revenues in 2020, which suffered from a worse-than-expected year-end. A dividend of 8 EUR per share will be proposed.
- Ahold Delhaize: 2020 results are down due to rising costs. An increased dividend of EUR 0.90 per share will be proposed. This year, the distributor is aiming for growth in adjusted earnings per share in the range of 3 to 5%.
- Akzo Nobel: Q4 operating income is well above expectations, while a €1 billion share buyback program has been announced.
- General Electric: expects negative cash flow in Q1 but does not call its forecast into question.
- Rio Tinto: 2020 Adjusted EBITDA reached $23.9bn, above consensus. An exceptional dividend will be paid.
- Schindler: 2020 results, down, are close to expectations. This year, sales are expected to be in the range of 0 to 5% growth in local currency. Earnings forecasts will be provided at a later date.
- In Europe, new vehicle registrations fell 24% in January, making it the lowest January in history, according to ACEA statistics.
- Nestlé is selling its U.S. regional mineral waters to One Rock Capital Partners and Metropoulos for $4.3 billion.
- Berkshire Hathaway invested in the pharmaceutical, energy and telecom sectors in Q4 (AbbVie, Bristol-Myers Squibb, Merck, Marsh & McLennan, T-Mobile US, Verizon, Chevron, Kroger), and reduced its position in Apple.
- Ford announced Thursday that its entire range will be fully electric in Europe by 2030.
- Johnson & Johnson has submitted an application for approval of its vaccine in Europe.
- Kinnevik will distribute Zalando shares to its shareholders.
- Epic Games files antitrust complaint against Apple in Europe.
- In Australia, com offers Selz, a platform of e-commerce tools for businesses.
- The United States investigates Ericsson's claim against Samsung Electronics for infringement of 4G and 5G patents.
- HEXO acquires Zenabis Global for $235 million.
- Temenos wins a contract from DXC Technology.
- Western Alliance offers Amerihome for $1 billion.
- Honda Motor appoints its head of R&D, Toshihiro Mibe, as CEO.
- Occidental Petroleum declares force majeure on its production, due to the cold spell in the United States.
- The FDA approves Novartis' Entresto for chronic heart failure.
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