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OFFON

GLOBAL MARKETS LIVE: Washington vs Beijing, Farfetch beats expectations…

11/13/2020 | 09:50am EST

To end the week, Farfetch, Disney and Cisco publish good results for the third quarter. Cellnex continues its acquisitions, while Washington is launching a new offensive against Chinese companies.

Earnings season. The Charles Schwab Corporation, Mitsubishi UFJ, Sumitomo Mitsui, Engie, Deutsche Wohnen, Atlantia, Ageas and Aedifica are among companies reporting their results today.

A few results:

  • Cisco: Quarterly results reassured investors, as the company benefited from the rise of work-from-home. On an adjusted basis, earnings per share were 76 cents, well above the consensus of 70 cents.
  • The Walt Disney Company: the market is reassured by its quarterly results, boosted by the good performance of its streaming video business. This did not prevent the company from posting losses in the last quarter, but less than expected.
  • Farfetch, the online fashion and luxury goods retailer, posted sales of $438 million for the period, a 71% year-over-year increase, and an adjusted loss per share of 17 cents, well above the average analyst expectation of -40 cents.
  • 3M reported sales up 3% year-on-year to $2.9 billion, with revenues increasing by 3% in the Asia-Pacific region and by 2% in the EMEA (Europe, Middle East and Africa) region and in the Americas.

In other news:

  • Who will stop Cellnex? The Spanish star of base stations will acquire the dedicated European division of CK Hutchison for €10 billion, including €8.6 billion in cash.
  • Xi Jinping is said to have intervened in person to block the IPO of Ant (Alibaba), reports the Wall Street Journal.
  • The United States prohibits American investors from being present in the capital of companies controlled by or related to the Chinese army, which causes certain shares to sink, like China Mobile this morning.
  • The United States gives TikTok a deadline to negotiate its sale.
  • Implenia signs several contracts in Germany.
  • NTT will place $4.7 billion in bonds to finance the acquisition of Docomo.
  • S&P downgrades ABB Ltd.'s credit rating from "A" to "A-".
  • Givaudan signed a partnership with Novozymes to develop innovative ingredients and technologies.
  • Allianz Care, CSS, Visana and Zur Rose launch a global digital healthcare platform.

© MarketScreener.com 2020
Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD -0.63% 26.61 Delayed Quote.8.38%
AEDIFICA SA -1.77% 99.8 Real-time Quote.3.36%
AGEAS SA/NV -1.67% 43.1 Real-time Quote.0.57%
ALIBABA GROUP HOLDING LIMITED -1.38% 262.2221 Delayed Quote.14.26%
ATLANTIA SPA -2.22% 13.215 Delayed Quote.-8.15%
CELLNEX TELECOM, S.A. -1.26% 48.45 Delayed Quote.-0.10%
CISCO SYSTEMS, INC. 2.23% 46.27 Delayed Quote.0.63%
DEUTSCHE WOHNEN SE -1.75% 41.44 Delayed Quote.-3.46%
ENGIE -2.00% 12.73 Real-time Quote.3.75%
FARFETCH LIMITED -2.66% 58.72 Delayed Quote.-5.49%
GIVAUDAN SA -0.21% 3719 Delayed Quote.-0.08%
IMPLENIA AG 2.27% 25.26 Delayed Quote.2.75%
MITSUBISHI UFJ FINANCIAL GROUP, INC. -0.62% 480 End-of-day quote.5.24%
NTT DOCOMO, INC. 0.00% 3880 End-of-day quote.0.00%
SUMITOMO MITSUI FINANCIAL GROUP, INC. -0.69% 3316 End-of-day quote.4.02%
THE CHARLES SCHWAB CORPORATION -3.32% 54.35 Delayed Quote.5.98%
THE WALT DISNEY COMPANY -3.50% 163.6028 Delayed Quote.-6.41%