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GLOBAL MARKETS LIVE: Uber and Lyft win vote in California, Hilton posts heavy losses…

11/04/2020 | 10:18am EST

Another session, another set of company results. Ant Group's IPO is taking a wrong turn without it being clear at this stage why. Uber and Lyft will not have to requalify drivers as employee.

Earnings season: Costco Wholesale, Qualcomm, Fast Retailing, SoftBank, BMW, Vonovia, Cellnex, Vestas, Intesa Sanpaolo, Ahold Delhaize, Crédit Agricole, Groupe Bruxelles Lambert and Swiss Life are among companies reporting their earnings today.

A few results:

  • Ahold Delhaize: in addition to its quarterly results, the company has raised its 2020 forecast and announced a new €1 billion share buyback program.
  • BMW: the German carmaker's operating profit was slightly lower than expected in Q3, but nevertheless came in at €1.92 billion, down 16% year-on-year.
  • Burckhardt: the results for the first fiscal quarter improved, confirming the annual targets.
  • Hilton reported a third quarter 2020 loss of $79 million, or -28 cents per share, compared to a profit of $288 million, or $1 per share, for the same period last year.
  • Marks & Spencer: the British retailer reported its first half-year loss in nearly a century.
  • Prudential Financial: the stock rose after the U.S. session in the wake of rather robust quarters. The company traditionally launches the series of publications of American insurers.
  • Subaru: The Japanese automaker raised its forecast thanks to a stronger than expected rebound in U.S. auto sales.
  • Zalando: the German retailer recorded growth of nearly 30% in the third quarter, improving its operating margin to 6.4%. The annual forecast has been raised.

In other news:

  • Curious case, the suspension of Ant Group's IPO in Shanghai and Hong Kong, after the management team was summoned by Chinese regulators. Alibaba falls heavily on the Hong Kong stock exchange.
  • Uber and Lyft rose in U.S. equity markets. They benefit from the favorable vote in California allowing them to maintain their economic model based on the use of independent workers, reports the American press. They will therefore not be obliged to requalify them as employees.
  • Osram's shareholders give the go-ahead for the takeover by AMS AG.
  • Comcast and Walmart discuss the development and sale of "smart" televisions, according to the Wall Street Journal.
  • Shanghai Fosun Pharma ends its trials with BioNTech on a Covid-19 vaccine

© MarketScreener.com 2020
Stocks mentioned in the article
ChangeLast1st jan.
AHOLD DELHAIZE N.V. -1.42% 23.54 Real-time Quote.3.33%
BMW AG 3.59% 70.79 Delayed Quote.-1.99%
BURCKHARDT COMPRESSION HOLDING AG -1.36% 326 Delayed Quote.7.65%
CELLNEX TELECOM, S.A. 1.34% 47.63 Delayed Quote.-3.03%
COMCAST CORPORATION 0.07% 48.88 Delayed Quote.-6.72%
COSTCO WHOLESALE CORPORATION 1.93% 361.3 Delayed Quote.-4.11%
CRÉDIT AGRICOLE SA 1.54% 10.205 Real-time Quote.-2.62%
FAST RETAILING CO., LTD. -2.00% 91110 End-of-day quote.-1.47%
GROUPE BRUXELLES LAMBERT SA 0.57% 84.54 Real-time Quote.1.87%
HILTON WORLDWIDE HOLDINGS INC. -0.21% 107.7 Delayed Quote.-3.20%
INTESA SANPAOLO S.P.A. 0.84% 1.9264 Delayed Quote.-0.12%
LYFT, INC. -0.04% 48.94 Delayed Quote.-0.39%
MARKS & SPENCER GROUP PLC 2.46% 137.7 Delayed Quote.-1.39%
OSRAM LICHT AG 0.46% 52.4 Delayed Quote.0.69%
PRUDENTIAL FINANCIAL, INC. -1.00% 84.01 Delayed Quote.7.61%
QUALCOMM INCORPORATED 0.51% 164.6 Delayed Quote.7.50%
SHANGHAI FOSUN PHARMACEUTICAL GROUP CO., LTD. 0.24% 50.02 End-of-day quote.-7.35%
SOFTBANK GROUP CORP. -0.73% 8694 End-of-day quote.7.89%
SUBARU CORPORATION 1.58% 2055 End-of-day quote.-0.36%
SWISS LIFE HOLDING AG -0.26% 426.5 Delayed Quote.3.69%
UBER TECHNOLOGIES, INC. 0.14% 56.38 Delayed Quote.10.55%
VESTAS WIND SYSTEMS A/S 0.53% 1433 Delayed Quote.-0.97%
VONOVIA SE 0.00% 55.8 Delayed Quote.-6.63%
WALMART INC. 1.48% 145.51 Delayed Quote.0.94%
ZALANDO SE 1.60% 95.2 Delayed Quote.4.55%