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OFFON

GLOBAL MARKETS LIVE: Another vaccine announcement, Nasdaq makes new acquisition…

11/19/2020 | 10:18am EST

The potential vaccine developed by AstraZeneca and Oxford University produces a robust immune response in older adults, Nasdaq announced the acquisition of financial crime prevention software publisher Verafin, Starbucks has planned a huge salary increase for its employees, while industrial job cuts continue in Europe, at ThyssenKrupp in particular.

Earnings season. Intuit, Netease, Knorr-Bremse, Bouygues, CNP Assurances, Kingfisher, Halma, Altice Europe, Colas, Cofinimmo, ThyssenKrupp and Royal Mail are among companies reporting their results today.

 

A few results:

  • L Brands, the parent company of the Victoria's Secret brand, reported better than expected quarterly results thanks to strong demand for its lingerie. The group reported third quarter net income of $330.6 million, compared to a loss of $252 million a year earlier. Revenues increased to $3.06 billion from $2.68 billion.
  • Macy's stores recorded a loss of $91 million in the third quarter of 2020, compared to a profit of $2 million a year earlier. Sales did better than expected at $3.99 billion.
  • Nvidia presented better than expected results and forecasts. The processor and graphics card specialist saw its net income increase by 49% to $1.336 billion. Revenues jumped 57% to $4.73 billion, exceeding expectations at $4.41 billion.
  • ThyssenKrupp: in addition to its quarterly results, the German steelmaker announced it will cut 5,000 additional jobs.

 

In other news:

  • The potential vaccine developed by AstraZeneca and Oxford University produces a robust immune response in older adults, according to data from the mid-term trials published today in the Lancet. The phase 3 study is ongoing.
  • Nasdaq announced the acquisition of financial crime prevention software publisher Verafin for $2.75 billion in cash.
  • Starbucks plans to raise U.S. employee wages by at least 10 percent, according to documents obtained by Reuters.
  • U.S. airlines are once again calling on Congress for help.
  • Former Wirecard boss Markus Braun is on the grill of German MPs today.
  • Google is strengthening its banking services offer, Google Pay, including the ability to open a current account directly in the app from next year in the United States.
  • Goldman Sachs carries out a second round of redundancies in three months.
  • According to the Financial Times, Cineworld could start industrial action in the UK to survive the crisis.
  • Apple will pay $113 million for a dispute over the iPhone slowdown.
  • Muddy Waters attacks Joyy, believing that YY Live is "an ecosystem of mirages".
  • Affirm applies for an IPO in the United States.

© MarketScreener.com 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALTICE EUROPE N.V. 0.00% 5.344 Real-time Quote.0.30%
APPLE INC. 2.77% 142.92 Delayed Quote.4.81%
ASTRAZENECA PLC 0.73% 7969 Delayed Quote.7.82%
BOUYGUES 1.41% 33.2 Real-time Quote.-2.70%
CINEWORLD GROUP PLC -0.45% 68.7453 Delayed Quote.7.64%
CNP ASSURANCES 1.66% 12.89 Real-time Quote.-3.79%
COFINIMMO N.V. 1.14% 124.2 Real-time Quote.0.82%
COLAS -1.24% 119.5 Real-time Quote.-2.02%
GOLDMAN SACHS BDC, INC. -1.10% 17.94 Delayed Quote.-6.17%
HALMA PLC 0.31% 2605 Delayed Quote.6.04%
INTUIT INC. -0.11% 374.43 Delayed Quote.-1.43%
JOYY INC. 2.63% 93.39 Delayed Quote.16.77%
KINGFISHER PLC 1.48% 274.56 Delayed Quote.0.15%
KNORR-BREMSE AG 0.10% 115.5 Delayed Quote.3.40%
L BRANDS, INC. -2.98% 43.93 Delayed Quote.18.12%
MACY'S 10.87% 14.28 Delayed Quote.26.93%
NASDAQ 1.34% 142.3 Delayed Quote.7.20%
NETEASE, INC., 6.45% 124.29 Delayed Quote.29.78%
NVIDIA CORPORATION -0.43% 546.13 Delayed Quote.4.58%
ROYAL MAIL PLC 0.74% 421.7 Delayed Quote.24.02%
STARBUCKS CORPORATION -0.44% 103.45 Delayed Quote.-2.87%
THYSSENKRUPP AG 3.10% 9.656 Delayed Quote.15.12%
WIRECARD AG -44.85% 0.6 End-of-day quote.92.93%