Earnings season: SMC Corporation, Bridgestone, Ventas and Bandai Namco are on the agenda.
A few results:
Booking Holdings: Unsurprisingly, the travel specialist sees its revenues fall by 91% in the second quarter, to $2.3 billion. But the net loss of USD 10.80 per share is a little less than what the street was dreading. As a result, the stock is earning more than 3% post-trade.
Goldman Sachs revised sharply down the quarterly profit announced last month to take into account provisions for legal costs related to the Malaysian sovereign wealth fund 1MDB corruption scandal.
News Corp: The stock lost some ground after the close, in the wake of the publication of worse-than-expected quarterly results.
T-Mobile US: it claimed 98.3 million customers at the end of the first half, making it the new number two in the US ahead of AT&T. Second quarter revenues slightly exceeded expectations. The share gained 6% post-season.
TripAdvisor: Net loss was $153 million in the second quarter on revenues of $59 million. The trend was quite positive for the share after the closing.
Uber: the company lost $1.78 billion in the second quarter, on revenues down 29% to $2.24 billion. The share price was down more than 2% post-closing.
New development in the fight against Covid-19. Pfizer announced the signing of a multi-year agreement with Gilead to help it increase the manufacture of the experimental remodeling treatment against Covid--19.
Big appetite. Microsoft wants to buy all of TikTok's worldwide activities, according to information from the Financial Times, and not only the American, Canadian, Australian and New Zealand entities.
Open warfare. Donald Trump has issued decrees prohibiting, in 45 days, any transaction with ByteDance, the Chinese company that owns the video sharing application TikTok, and Tencent, owner of the WeChat application. A decision with far-reaching consequences for the technology sector and international relations.
Bravo Thoma. Intercontinental Exchange, the owner of the New York Stock Exchange, will buy Ellie Mae, a software publisher specializing in mortgages, for $11 billion. This company is at the heart of the digitalization of the mortgage sector. For the investment fund Thoma Bravo, the deal is particularly juicy: it acquired Elie Mae last year for... $3.7 billion! In the meantime, the coronavirus crisis has led to an explosion in the use of remote tools, which partly explains the valuation gap. More details here.
Sony’s new investment. Sony confirms a $250 million investment in Epic Games, the creator of Fortnite, in a financing round that values the company at $17.3 billion.
In other news. AstraZeneca signs an agreement to have its Covid-19 vaccine produced in China. The Financial Times has learned that activist investor ValueAct has exited Rolls-Royce's capital. Twitter will label government accounts and state media. General Motors unveils the Cadillac Lyriq, the first all-electric vehicle of its high-end brand. The president of Mitsubishi Motors resigns at the age of 71 for health reasons, temporarily replaced by the current managing director.