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OFFON

Romain Fournier

Chief Editor
Having worked in the British, French and Swiss financial press, Romain is able to report on local and international issues, as comfortable in French as in the language of Shakespeare, Romain Fournier leads the editorial team at Marketscreener. Fine connoisseur of the English-speaking markets, Romain delivers an editorial every day on US and UK markets.

US tech companies targeted by France... again

12/20/2019 | 08:08am EST

Busy news to end the last week before Christmas. This is a hard time for US tech companies in Europe, as they face increasing pressure from regulators. In other news, Nike posted mixed results, Facebook is the victim of a data leak and Tesla gets back on track.

 

Google must pay. The French Competition Authority has fined Alphabet subsidiary Google 150 million euros for abuse of its dominant position in the advertising market. Google said that it will appeal the decision.

Merck gets the green light. Merck's Ebola fever vaccine approved by the FDA. It was used by the World Health Organization as an experimental vaccine between 2014 and 2016.

So does Nvidia. European competition authorities have approved the acquisition by Nvidia of Mellanox Technologies for a total $6.8 billion.

Mixed results for Nike. Nike reported higher than expected quarterly earnings and sales, but North American sales were below expectations, resulting in a 2% decline in the stock outside of the trading session.

Need a plumber? Facebook could be facing a massive data leak, which the group is studying, after a report by cyber security researchers.  The company told AFP that it is looking into the problem, but it thinks this is information obtained before the changes it made in recent years to better protect people's data. The leak includes the identifiers, phone numbers and names of 267 million users, mainly American.

New purchase. Nestlé retained the offer of the Spanish company Casa Tarradellas for the sale of 60% of Herta, retaining 40% of the shares, on the basis of a valuation of €690 million for 100% of the capital. The joint venture to be created will include Herta's charcuterie and meat products and pasta activities in France and Belgium. The entity will have sales of €667 million in 2018. Completion is expected in the first half of next year.

Tesla’s stock is twice bigger. Thanks to a return to popularity with investors, Tesla has crossed the USD 400 mark on the stock market, doubling in size since the lows of 2019 in June. The share closed yesterday at USD 404, up 2.8%. It had fallen as low as USD 177 during the session on June 3. Will we see Elon Musk perish on Twitter?

In other news. Royal Dutch Shell takes $2.3bn in write-downs and announces a production target and lower than expected investments. The Swiss courts rejected Swisscom's appeal against the CHF 186 million fine imposed on the "ADSL cartel". Banco Bilbao Vizcaya Argentaria is taking a provision of USD 1.5bn in the United States to take into account the impact of exchange rates and the slowdown in growth. Lindt & Sprüngli strengthens its management team. Live Nation finds common ground with the US authorities who accused it of not having respected the commitments made when it acquired Ticketmaster. Tivo and Xperi will merge in a 100% shareholding operation. Dufry will operate four more shops at Singapore airport. The two joint ventures of Zur Rose and Medbase will start operations at the beginning of the year.


ę MarketScreener.com 2019
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.35% 2616.08 Delayed Quote.-9.70%
AT HOME GROUP INC. -0.08% 36.99 End-of-day quote.0.00%
CASA INC. -0.11% 888 Delayed Quote.-4.61%
CORPORATIVO FRAGUA, S.A.B. DE C.V. -4.63% 321 End-of-day quote.-5.44%
DUFRY AG -4.67% 45.76 Delayed Quote.6.31%
EXPERIAN PLC -3.27% 2960 Delayed Quote.-18.81%
LINDT -2.41% 101400 Delayed Quote.-14.98%
LIVE NATION ENTERTAINMENT, INC. -0.84% 108.82 Delayed Quote.-9.08%
MERCK & CO., INC. -1.44% 78.83 Delayed Quote.2.86%
META PLATFORMS, INC. 1.83% 308.71 Delayed Quote.-8.22%
NESTLÉ S.A. -2.51% 118 Delayed Quote.-5.02%
NIKE, INC. 2.13% 146 Delayed Quote.-12.40%
NVIDIA CORPORATION -0.01% 233.72 Delayed Quote.-20.53%
ROYAL DUTCH SHELL PLC -3.98% 20.755 Real-time Quote.7.48%
SWISS RE LTD -0.33% 96.62 Delayed Quote.7.40%
SWISSCOM AG -0.54% 515.6 Delayed Quote.0.74%
TESLA, INC. -1.47% 930 Delayed Quote.-12.00%
ZUR ROSE GROUP AG -13.86% 174 Delayed Quote.-14.23%