Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

GLOBAL MARKETS LIVE: A flurry of earnings reports

10/21/2020 | 10:01am EST

Today, we have a multitude of quarterly results, including Netflix, Nestlé's strong performance and Snap. Tesla and a host of other US healthcare companies are expected to follow.

 

 

Akzo Nobel: The paint and coatings chemist recorded a sharp rebound in earnings in the third quarter.

Deutsche Lufthansa: the airline posted an operating loss of €1.26 billion in the third quarter.

Ericsson: the Swedish telecom network specialist posted quarterly profits that exceeded market expectations. It is maintaining its 2022 forecast.

Nestlé: organic growth accelerated to 4.9% in the third quarter, well above market expectations. Annual targets have been raised.

Netflix: the most famous streaming service lost more than 5% offline after lower than expected new subscriber figures.

Snap: the application's share of the action is soaring 24% post session thanks to its results.

Texas Instruments: the semiconductor group's stocks reacted rather well in the off-season to the publication of the quarterly accounts.

Zur Rose: third-quarter sales rose 15.3%. Annual forecasts are confirmed.

 

Important announcements:

Goldman Sachs pays $2.8 billion and admits defaults to avoid a lawsuit in the 1MDB case.

The opening of an antitrust investigation against Google does not make Alphabet blink on the stock market.

Pioneer Natural Resources buys Parsley Energy for $4.5 billion.

Atlantia extends its discussions with the Italian group CDP on its highway subsidiary Autostrade until October 27.

Cogeco has officially postponed the improved takeover bid submitted by Altice USA and Rogers Communications.

Cathay Pacific Airways will cut 8,500 jobs, nearly a quarter of its workforce, and abandon its Cathay Dragon brand.

General Motors is spending $2 billion to convert its Spring Hill, Tennessee plant into a site specializing in electric vehicles.

Volkswagen has started preliminary discussions with candidates for its Ducati brand, but could also extend its thinking to Lamborghini and Bugatti (whose sale project had already been discussed).

Idorsia is placing nearly 8 million shares with institutional investors, the remainder of its fund-raising.

Iberdrola (via Avangrid) bought PNM Resources for $4.32 billion.


© MarketScreener.com 2020
Stocks mentioned in the article
ChangeLast1st jan.
AKZO NOBEL N.V. -0.33% 89.42 Delayed Quote.-0.97%
ALPHABET INC. -0.17% 1821.84 Delayed Quote.36.02%
ALTICE USA, INC. 0.06% 34.64 Delayed Quote.26.70%
ATLANTIA SPA 0.74% 15.705 Delayed Quote.-25.42%
CATHAY PACIFIC AIRWAYS LIMITED 4.03% 7.75 End-of-day quote.-32.73%
COGECO COMMUNICATIONS INC. -0.20% 95.2 Delayed Quote.-15.73%
DEUTSCHE LUFTHANSA AG -0.44% 10.11 Delayed Quote.-38.15%
ERICSSON AB 0.48% 104.5 Delayed Quote.27.57%
GENERAL MOTORS COMPANY -1.10% 44.09 Delayed Quote.20.46%
GOLDMAN SACHS BDC, INC. 2.39% 19.29 Delayed Quote.-9.35%
IBERDROLA, S.A. 0.04% 11.26 Delayed Quote.22.66%
IDORSIA LTD 0.29% 27.44 Delayed Quote.-7.05%
NESTLÉ S.A. 0.90% 100.12 Delayed Quote.-5.22%
NETFLIX, INC. -1.16% 497.52 Delayed Quote.53.76%
PARSLEY ENERGY, INC. 4.20% 13.14 Delayed Quote.-30.51%
PIONEER NATURAL RESOURCES COMPANY 3.76% 105.35 Delayed Quote.-30.40%
ROGERS COMMUNICATIONS INC. 1.68% 61.09 Delayed Quote.-6.82%
SNAP INC. 0.97% 47.95 Delayed Quote.193.63%
TEXAS INSTRUMENTS -0.45% 161.98 Delayed Quote.26.26%
VOLKSWAGEN AG 0.10% 145.22 Delayed Quote.-17.11%
ZUR ROSE GROUP AG -2.13% 275 Delayed Quote.163.08%