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Technology, Media & Telecom IBM Corp. ($IBM) 3Q operating EPS $2.52 vs est. $2.50 on revs 17.6B vs est. $17.8B; qtrly operating gr margin 48%, flattish YoY; says continue to make progress in software and consulting businesses AT&T ($T) Q3 adj EPS $0.87 vs. est. $0.78; Q3 revs $39.92B vs. est. $39.14B; added 928,000 net new phone subscribers who pay a monthly bill, above quarterly expectations of 560,000, (VZ added 429,000 subscribers in its latest quarter); AT&T added 12.5 million subscribers globally for its premium TV channel HBO and streaming service HBO Max; sees FY21 adjusted EPS at high end of low- to mid-single digit growth SAP SE ($SAP) said Q3 operating profit and revenue rose; operating profit rose to 2.10 billion euros ($2.45 billion) from EUR2.07 billion last year, with its operating margin down to 30.7% from 31.7%; total revenue climbed to EUR6.85 billion from EUR6.54 billion Roku ($ROKU) says it has been working with Google (GOOGL) since April to continue offering YouTube TV to shared customers but “threat remains that Google may remove YouTubeTV from the Roku platform,” the company said in a blog post Thursday. Lam Research ($LRCX) Q3 EPS $8.36 vs. est. $8.21; Q3 revs $4.304B vs. est. $4.32B; U.S. GAAP gross margin of 45.9%, U.S. GAAP operating income as a percentage of revenue of 31.9%, and non-GAAP gross margin of 46.0% Crown Castle ($CCI) Q3 AFFO $1.77 vs. est. $1.71; site rentals revs grew 8% or $112M YoY; sees 2021 AFFO $6.78-$6.89 vs. est. $6.85; sees 2022 AFFO $7.31-$7.41 vs. est. $7.29 Enfusion ($ENFN)75M share IPO priced at $17.00 TaskUs ($TASK)078M share Secondary priced at $63.50
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UK Market Closed higher yesterday, after the British economy returned to growth. Man Group jumped 7.6%, after the active management business reported a rise in its funds under management in the third quarter, amid strong net inflows. Barratt Developments climbed 6.3%, after the house builder announced that the robust demand for its homes continued into the current fiscal year. On the other hand, RHI Magnesita dropped 6.9%, after a top broker downgraded its rating on the stock to ‘Sector Perform’ from ‘Outperform’ and lowered its target price to 3,700p from 4,750p. Centrica fell 4.6%, after the gas owner announced that it would delay its capital markets day due to an unknown crisis in the energy sector. Informa shed 2.4%, following a rating downgrade on the stock to ‘Sell’ from ‘Neutral’. The FTSE 100 gained 0.2%, to close at 7,141.8, while the FTSE 250 rose 0.7%, to end at 22,635.3. . Europe Market European markets finished higher yesterday, amid strong corporate earnings report. Spie climbed 8.5%, after the energy company announced that it has cancelled plans to acquire utility company, Engine’s Equans services unit. SAP advanced 3.9%, after the software group reported strong growth in its current cloud backlog across its cloud portfolio. LVMH Moet Hennessy Louis Vuitton rose 3.2%, after the luxury goods maker reported better than expected revenue and earnings in the third quarter. Infineon Technologies edged 1.8% up, despite reports that Apple would cut its production of iPhone 13, amid global chip shortage. On the flipside, Hannover Rueck fell 1.6%, after the re-insurance company pledged to achieve net zero emissions in business operations by 2030 and in its reinsurance portfolio and investments by 2050. The FTSEurofirst 300 index gained 0.6%, to close at 1,783.1. Among other European markets, the German DAX Xetra 30 rose 0.7%, to close at 15,249.4, while the French CAC-40 advanced 0.8%, to settle at 6,597.4. . US Market US markets closed mostly higher yesterday, after minutes from the US Federal Reserve’s (Fed) latest policy meeting indicated that the central bank would begin tapering its bond purchases before year-end. Vimeo surged 13.6%, after the video platform company reported strong year-on-year revenue growth in September. Plug Power jumped 12.8%, after the company announced that it has joined forces with aircraft maker, Airbus to decarbonize air travel and airport operations. BlackRock rose 3.8%, after the company reported better than expected revenue and earnings in the third quarter. Meanwhile, Delta Air Lines dropped 5.8%, after the company announced that it expects rising costs of fuel and other expenses to affect its fourth quarter earnings. Monster Beverage fell 3.0%, following a rating downgrade on the stock to ‘Hold’ from ‘Buy’. The S&P 500 gained 0.3%, to settle at 4,363.8. The DJIA marginally fell, to settle at 34,377.8, while the NASDAQ advanced 0.7%, to close at 14,571.6. . Asia Market Markets in Asia are trading higher this morning. In Japan, Konami Holdings, Toho Zinc and Kikkoman have advanced 3.2%, 3.3% and 3.7%, respectively. Meanwhile, Fukuoka Financial Group, Resona Holdings and T&D Holdings have dropped 2.5%, 2.9% and 3.4%, respectively. In South Korea, Choil Aluminum, Korea Line and Miwon Holdings have climbed 8.3%, 8.9% and 9.0%, respectively. Meanwhile, Aekyung Petrochemical, Thelma Therapeutics and Jcontentree have fallen 2.7%, 2.9% and 3.1%, respectively. Meanwhile, markets in Hong Kong are closed today on account of a public holiday. On Tuesday, the Hang Seng index fell 1.4% to close at 24,962.6. Today, the Nikkei 225 index is trading 1.0% higher at 28,425.9, while the Kospi index is trading 1.2% higher at 2,979.6.
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Wednesday, October 13, 2021 Futures Up/Down % Last Dow 34.00 0.10% 34,295 S&P 500 5.75 0.14% 4,346 Nasdaq 61.75 0.42% 14,715 U.S. futures recover from overnight losses ahead of Dow component JPMorgan earnings and inflation data later this morning (CPI), reversing overnight losses despite weakness in Dow component Apple (AAPL), which is down about -0.5% after reports it expects to make 10 million fewer iPhone than planned and is poised to slash iPhone production goal due to chip crunch. Oil prices and Treasury yields decline, while gold rises ahead of a key reading of consumer price September inflation. Futures are getting a boost after better economic data in China as September exports rose 28.1% from last year as consumer demand outpace supply chain disruptions and power shortages, while last night’s passage of a debt ceiling extension by House lawmakers puts at least one market concern to the side until early December. In Asian markets, The Nikkei Index fell -90 points to 28,140, the Shanghai Index rose 14 points to 3,561 and the Hang Seng Index was closed. In Europe, the German DAX is up over 100 points to 15,250, while the FTSE 100 is slightly lower at 7,120. U.S. stocks ended lower following a choppy session on Tuesday, with investors nervous about upcoming third-quarter earnings reports. In addition to the CPI data, the Federal Reserve will release minutes from its last policy meeting, and investors are looking for further clues on when the central bank could begin tapering its bond-buying program. Market Closing Prices Yesterday The S&P 500 Index dropped -10.54 points, or 0.24%, to 4,350.65 The Dow Jones Industrial Average fell -117.72 points, or 0.34%, to 34,378.34 The Nasdaq Composite slipped -20.28 points, or 0.14%, to 14,465.92 The Russell 2000 Index advanced 13.63 points, or 0.61% to 2,234.27 Events Calendar for Today 7:00 AM ET MBA Mortgage Applications Data 8:30 AM ET Consumer Price Index (CPI) Headline MoM for September…est. +0.3% 8:30 AM ET CPI Core: Ex Food & Energy MoM for September…est. +0.2% 8:30 AM ET Consumer Price Index (CPI) Headline YoY for September…est. +5.3% 8:30 AM ET CPI Core: Ex Food & Energy YoY for September…est.+4.0% 10:30 AM ET Weekly DOE Inventory Data 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: AYR, BLK, DAL, JPM, SOTK Earnings After the Close: ETWO, ODC Other Key Events: China CPI, PPO for September Macro Up/Down Last Nymex -0.56 80.08 Brent -0.60 82.82 Gold 11.60 1,772.80 EUR/USD 0.0034 1.1562 JPY/USD -0.04 113.56 10-Year Note -0.015 1.565% World News China September exports rose1% from last year as consumer demand outpace supply chain disruptions and power shortages Japanese Core Machine Orders (M/M) Aug: -2.4% (exp 1.4%; previous 0.9%); Core Machine Orders (Y/Y) Aug: 17.0% (exp 13.9%; previous 11.1%) The House on Tuesday voted along party lines to raise the U.S. borrowing limit into December, as Democratic lawmakers wrestled with how to set a new ceiling for U.S. debt later this year over Republican resistance. Sector News Breakdown Consumer Duckhorn Portfolio Inc ($NAPA) said selling stockholders are offering 12 mln shares of common stock Monster Beverage ($MNST) downgraded to Hold from Buy at Jefferies Energy, Industrials and Materials International Paper ($IP) announces up to $2B share repurchase program Boeing ($BA) is the latest federal contractor to mandate COVID-19 vaccinations for all employees by December 8 under the Biden administration’s new rules saying its 125K U.S. employees must show proof of vaccination or have an approved religious or medical exemption by the deadline. Yesterday, Chicago soybean futures fell to the lowest level in nearly a year following a U.S. Department of Agriculture report that showed larger than expected yields of soybeans and corn; the USDA showed an uptick of nearly 100M bushels to U.S. corn ending stocks Glencore Plc ($GLNCY) said that it had reached an agreement to sell its zinc business in Bolivia to Canada’s Santa Cruz Silver Mining for some $110M Rattler Midstream LP ($RTLR), a subsidiary of Diamondback Energy, Inc. (FANG) announces strategic midland basin gas gathering & processing joint venture; invested approximately $104 mln in cash to acquire a minority interest in joint venture Vistra ($VST) announces $2 billion share repurchase program Gran Tierra Energy Inc. ($GTE) said that Q3 production grew 53% and that it expects the gains to continue in Q4; said it has produced an average of 28,957 barrels of oil a day in the quarter, compared with 18,944 barrels a day in the prior year period and 23,035 barrels a day QoQ Greenbrier ($GBX) announced the acquisition of more than 3,600 railcars, a portion of which will be held in GBX Leasing Financials BlackRock ($BLK) Q3 adj EPS $10.95 vs. est. $9.35; Q3 revs $5.05B vs. est. $4.9B; qtrly long-term net inflows of $98 billion; assets under management at qtr-end were $9.46 trillion vs $7.81 trillion at end of Q3 AvidXchange ($AVDX)64M share IPO price $25.00 AllianceBernstein L.P. ($AB) preliminary assets under management decreased to $742 billion during September 2021 from $761B at the end of August. Firmwide net inflows were outweighed by market depreciation, resulting in a 2% decline in AUM. In the month of September, net inflows to Retail and Private Wealth were partially offset by net outflows from Institutions. Ellington Financial Inc ($EFC) commenced an underwritten public offering of 5 mln shares of common stock RenaissanceRe Holdings Ltd. ($RNR) estimates that losses from certain 2021 catastrophe events will have a net negative impact of approximately $725 million on the Company’s Q3 results of operations Manning & Napier ($MN) preliminary assets under management (AUM) of $22B for September, compared with $22.7B as of Aug.31. Healthcare Sarepta ($SRPT) announces $500M common stock offering and guiding Q3 revs about $166.9M vs. est. $172M; had approximately $1.6 bln in cash, cash equivalents and investments as of September 30, 2021 CRISPR Therapeutics ($CRSP) shares slipped after announcing updated results from the company’s early-stage trial of its CAR-T cell therapy CTX110 as two patients in the phase 1 trial experienced Grade 3 or higher infections, with one patient having HHV-6 encephalitis, and another developing pseudomonal sepsis that resolved in four days. CytoSorbents ($CTSO) receives full FDA investigational device exemption approval to begin U.S. star-d trial on apixaban and rivaroxaban removal by the DrugSorb-ATR™ antithrombotic removal system during urgent cardiothoracic surgery Homology Medicines ($FIXX) announced the pheEDIT Phase 1 clinical trial for HMI-103, a one-time, in vivo product candidate that utilizes a gene editing approach for phenylketonuria, or PKU, based on the investigational new drug application, or IND, clearance from the FDA Apollo EndoSurgery ($APEN)4M share Spot Secondary priced at $7.75 Bicycle Therapeutics ($BCYC)24M share Secondary priced at $54.00 Relay Therapeutics ($RLAY)21M share Secondary priced at $26.50 Biogen ($BIIB) announces results of a new analysis of immune response to the COVID-19 vaccine among people with multiple sclerosis (MS). Teva Pharmaceuticals Europe BV, a European affiliate of Teva ($TEVA) presents new analyses of the COBRA study, which concluded no evidence was found to suggest that infants were adversely affected by maternal exposure to glatiramer acetate (GA) during pregnancy and breastfeeding with use of COPAXONE Technology, Media & Telecom Apple ($AAPL) suppliers Broadcom ($AVGO), Texas Instruments ($TXN) struggling to deliver enough chips; Apple expects to make 10 million fewer iPhone than planned and is poised to slash iPhone production goal due to chip crunch – Bloomberg (watch shares of $AAPL suppliers including $CRUS, $QRVO, $STM, $AVGO, $SWKS) SAP AG ($SAP) raised its 2021 projections for non-IFRS cloud revenue at constant currencies to range from EUR9.4B to EUR9.6B, up from its earlier view of EUR9.3 billion and EUR9.5 billion; also boosts cloud and software revenue at constant currencies view to EUR23.8 billion to EUR24.2 billion from its earlier view of EUR23.6 billion to EUR24 billion. Qualcomm ($QCOM) announces new $10.0 billion stock repurchase authorization IAC Inc. ($IAC) reports September Angi Inc. total revenue up 18% from last year with Dotdash revenue up 25%, and its Search business revenue up 74% from last year and Emerging & Other revenue was up 33% from last year Vimeo Inc ($VMEO) total revenue for September 2021 up 33%; subscribers for September 2021 up 14%; ARPU for September 2021 up 16% Smart Global Holding ($SGH) Q4 adj EPS $2.16 vs. est. $1.60; Q4 revs $467.7M vs. est. $461.3M; sees Q1 adj EPS $1.80-$2.20 vs. est. $1.49; sees Q1 revenue $440M-$480M vs. est. $458.55M; GAAP gross margin of 25.2%, up 620 basis points versus the year ago quarter and non-GAAP gross margin of 26.4%, up 690 basis points versus the year ago quarter VOXX International ($VOXX) 2Q EPS $0.01 vs est. $0.07 on sales $143.1Mm vs est. $134.4Mm
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Asian stock markets wobble as China Evergrande woes sap confidence
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*SAP and Amazon Business Partner to Expand Buyer Choice
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UK markets finished higher yesterday, supported by gains in retail sector stocks and amid weakness in the British Pound. Next jumped 7.5%, after the clothing retailer upgraded its profit guidance and announced a special dividend. Computacenter climbed 5.7%, after the company announced that it expects adjusted pre-tax profit to be around 50.0% ahead for the first half of the year. Mulberry Group advanced 5.2%, after the company swung to an annual profit and indicated that its year-to-date performance has been boosted by both UK and Asia. Antofagasta rose 4.3%, as the miner maintained its full year production guidance. Wickes Group rose 2.1%, after the company reported an increase in group sales and maintained its interim profit guidance. On the other hand, Avast fell 1.5%, after a top broker downgraded its rating on the stock to ‘Neutral’ from ‘Buy’. The FTSE 100 advanced 1.7%, to close at 6,998.3, while the FTSE 250 rose 1.9%, to end at 22,542.0. . European markets closed higher yesterday, amid upbeat quarterly earnings reports and helped by gains in travel sector stocks. Thule Group surged 12.2%, after the company reported upbeat earnings in the second quarter. Nordea Bank advanced 3.7%, after the lender reported better than expected results in the second quarter. ASML Holding added 3.1%, after the semiconductor company upgraded its sales outlook for 2021 and announced a new share buyback plan. Daimler rose 1.1%. The company warned that global shortage of semiconductor chips would continue in the second half of 2021. On the flipside, SAP fell 2.5%, even though the business software group raised its annual revenue forecast. Novartis slid 0.7%. The drugmaker reported higher than expected net income in the second quarter. The FTSEurofirst 300 index gained 1.6%, to settle at 1,751.1. The German DAX Xetra rose 1.4%, to settle at 15,422.5, while the French CAC-40 added 1.9%, to close at 6,464.5. . US markets finished higher yesterday, amid optimism about US economic recovery and strong corporate earnings results. Chipotle Mexican Grill surged 11.5%, after the company’s second quarter revenue and earnings came in above analysts’ forecast. Real advanced 5.0%, after a top broker upgraded its rating on the stock to ‘Buy’ from ‘Neutral’. United Airlines Holdings added 3.8%, after the airline operator reported higher than expected second quarter revenue. Coca-Cola rose 1.3%, after the beverage maker reported up beat results in the second quarter and upgraded its annual forecast. Johnson &Johnson edged up 0.6%, after the company reported better than expected second quarter earnings and raised its full year guidance. On the other hand, Netflix fell 3.3%, following disappointing third quarter earnings. The S&P 500 gained 0.8%, to settle at 4,358.7. The DJIA rose 0.8%, to settle at 34,798.0, while the NASDAQ added 0.9%, to close at 14,632.0. . Asian Markets in Asia are trading mostly higher this morning. In Hong Kong, Sands China, Galaxy Entertainment Group and Xinyi Solar Holdings have risen 3.4%, 4.2% and 5.0%, respectively. Meanwhile, AAC Technologies Holdings, Anta Sports Products and CSPC Pharmaceutical Group have fallen 0.7%, 1.3% and 1.5%, respectively. In South Korea, DI, Galaxia S Mand Central Insight have climbed 7.2%, 10.7 and 18.3%, respectively. Mean while, Inbiogen, YG PLUS and Woojin have declined 5.4%, 6.4% and 8.2%, respectively. Markets in Japan are closed today on account of a public holiday. Yesterday, the Nikkei 225 index rose 0.6%to close at 27,548.0. Today, the Hang Seng index is trading 1.8% up at 27,710.0, while the Kospi index is trading 1.0% higher at 3,248.9
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Tuesday, July 20, 2021 Futures Up/Down % Last Dow 182.00 0.53% 34,582 S&P 500 16.25 0.38% 4,331 Nasdaq 8.50 0.06% 14,731 U.S. stocks continue to recover from an early-week selloff prompted by fears surrounding the rapidly-spreading Delta variant as major averages rose about 1.6% on Tuesday, with investors again taking any market pullback as an opportunity to jump back into equities. A handful of Dow components expected to report earnings this morning with Johnson & Johnson, Coca-Cola and Verizon coming up. In Washington, a $1.2T bipartisan infrastructure bill will face an initial procedural floor vote in U.S. Senate today, which aims to upgrade roads and bridges, water systems and expand broadband Internet. European equities are in the green, extending opening gains to trade near best levels for the week as travel the strongest sector followed by retail and banking names. Crude futures drift higher as September WTI rises over 1% to trade back on a $68-handle and Brent trades back above $70. Netflix ($NFLX) shares little changed after mixed earnings results overnight. In Asian markets, The Nikkei Index climbed 159 points to 27,548, the Shanghai Index gained 25 points to 3,562 and the Hang Seng Index slipped -34 points to 27,224. In Europe, the German DAX is up over 130 points to 15,350, while the FTSE 100 gains over 100 points (1.58%) to move just below the 7,000 level. Market Closing Prices Yesterday The S&P 500 Index gained 64.57 points, or 1.52%, to 4,323.06 The Dow Jones Industrial Average rose 549.95 points, or 1.62%, to 34,511.99 The Nasdaq Composite surged 223.89 points, or 1.57%, to 14,498.88 The Russell 2000 Index advanced 63.62 points, or 2.99% to 2,194.30 Events Calendar for Today 7:00 AM ET MBA Mortgage Applications Data 10:30 AM ET Weekly DOE Inventory Data Earnings Calendar: Earnings Before the Open: $AFI, $ANTM, $BHLB, $BKR, $BOKF, $CMA, $FCFS, $HOG, $IPG, $JNJ, $KNX, $KO, $LAD, $LVS, $MKTX, $MTB, $NDAQ, $NTRS, $STX, $TZOO, $USAP, $VZ, $WRLD Earnings After the Close: $BANR, $BXS, $CCI, $CNS, $CSX, $CVLG, $DFS, $EFX, $EGBN, $FR, $GGG, $GL, $GSBC, $INBK, $KALU, $KMI, $LOB, $LSTR, $MC, $NTGR, $NVEC, $OMF, $PLXS, $REXR, $RGP, $RLI, $SLG, $SLM, $STC, $STL, $TBK, $TCBI, $THC, $TSC, $TXN, $UFPI, UMPQ, $VMI, $WASH, $WHR Macro Up/Down Last Nymex 0.85 68.05 Brent 0.90 70.25 Gold -6.30 1,804.00 EUR/USD -0.0007 1.1774 JPY/USD 0.25 110.10 10-Year Note +0.036 1.245% Sector News Breakdown Consumer Chipotle Mexican Grill ($CMG) shares rise 4%; 2Q adj EPS $7.46 vs. est. $6.52 on revs $1.9B vs. est. $1.88B, digital sales +10.5% (48.5% of total sales), qtrly comps +31.2%, qtrly restaurant level op mgn 24.5%; guides 3Q comps sales +low-mid-double-digits, sees 3Q at or slightly above +200 new restaurants Lands’ End ($LE) raises Q2 revs to $380M-$385M, up from prior view $345M-$355M; raises Q2 adj Ebitda to $36M-$38M from prior view $20M-$23M and ups EPS view to $0.39-$0.43 from prior $0.05-$0.12 (est. $0.07); also raises year revs, income and Ebitda views Sleep Number ($SNBR) shares fall -9% on miss; 2Q EPS $0.88 vs. est. $1.16 on net sales $484.3Mm missing the est. $511Mm; guides FY EPS at least $7.25 vs est. $6.79 (assumes 25% tax rt for remainder of the year) Harley Davidson ($HOG) 2Q adj EPS $1.41 vs est. $1.17 on revs $1.53B vs est. $1.41B, qtrly motorcycle shipments 56,700 vs 28,400 yr-ago; qtrly worldwide motorcycle retail sales 65,300 vs 52,700 yr-ago; guides FY motorcycle segment revs +30-35%, sees FY financial svcs segment op inc +75-85% Lithia Motors ($LAD) Q2 adj EPS $11.12 vs. est. $5.85; Q2 revs $6.01B vs. est. $4.99B; qtrly new vehicle retail sales increased 130.0% and qtrly used vehicle retail sales increased 95.7% Tesla ($TSLA) plans to open its network of superchargers to other electric vehicles later this year, CEO Elon Musk said on Twitter; the co’s fast charging network, with over 25,000 superchargers globally, has given it a competitive edge VICI Properties ($VICI) entered into a strategic arrangement with Great Wolf Resorts whereby VICI Properties may provide certain financing for the construction and development of Great Wolf Lodge resorts throughout the United States United Airlines ($UAL) Q2 op revs $5.47B vs. est. $5.35B; 2Q adj EPS ($3.91) vs est. ($3.91), capacity -46%, 3Q est. capacity -26%; sees 3Q TRASM positive vs 3Q19; expects 4Q adj pre-tax income to be positive; Q2 operating expenses down 42%, down 32% excluding special charges, compared to q2 2019 Energy The American Petroleum Institute ($API) reports that crude inventories rose 806,000 barrels last week, gasoline inventories rose 3.31M barrels and distillate stockpiles fell -1.225M barrels Avangrid ($AGR) Q2 adj EPS 35c vs. est. 41c; Q2 revs $1.48B vs. est. $1.52B; cuts FY21 adjusted EPS view to $2.04-2.22 from $2.25-$2.45 (est. $2.36) Halliburton ($HAL) upgraded to Buy from Neutral at Goldman Sachs Financials CME Group ($CME) raises crude oil future Nymex (cl) maintenance margins to $5,450/contract from $5,300 for sept. 2021 Fulton Financial ($FULT) Q2 EPS $0.38 vs. est. $0.33; Q2 net interest income (NII) $162M vs. $152.7M last year; Q2 net interest margin 2.73% vs. 2.81% last year Hope Bancorp ($HOPE) 2Q EPS $0.43 vs est. $0.38, NII $126.6Mm vs est. $127.1Mm Interactive Brokers (IBKR) Q2 adj EPS $0.82 vs. est. $0.83; Q2 revs $754M vs. est. $681.28M; Net interest income increased $78 million, or 40%, from the year-ago quarter; Commission revenue increased $31 million, or 11%, from the year-ago quarter Preferred Bank ($PFBC) 2Q EPS $1.44 vs est. $1.46, NII $43.4Mm vs est. $46.6Mm National Storage ($NSA)8M share Spot Secondary priced at $51.25 Signature Bank ($SBNY)5M share Spot Secondary priced at $235.50 Shift4 Payments ($FOUR) announces offering of 1.79M shares of Class A common stock United Community Bank ($UCBI) Q2 EPS $0.78 vs. est. $0.67; Q2 return on assets (ROA) was 1.46% and its return on common equity was 14.1% for the quarter. On an operating basis, United’s ROA was 1.48% and its return on tangible common equity was 17.8%. On a pre-tax, pre-provision basis, operating return on assets was 1.67% for the quarter. Healthcare Johnson & Johnson ($JNJ) Q2 adj EPS $2.48 vs. est. $2.27; Q2 revs $23.31B vs. est. $22.19B; company increasing 2021 full-year guidance for sales and eps; sees 2021 adjusted operational sales change vs. prior year 12.5%-13.5%; raises FY21 adjusted EPS view to $9.50-$9.60 from $9.30-$9.45 (est. $9.52) and raises FY21 revenue view to $93.8B-$94.6B from $90.6B-$91.6B Anthem ($ANTM) Q2 adj EPS $7.03 vs. est. $6.33; Q2 revs $33.3B vs. est. $33.21B; raises FY21 adjusted EPS view to greater than $25.50 vs. est. $25.23 and above prior view for greater than $25.10; its benefit expense ratio – the percentage of premiums paid for medical services – worsened to 86.8% from 77.9% a year earlier Cytokinetics ($CYTK) 10M share Secondary priced at $27.50 Intuitive Surgical ($ISRG) Q2 adj EPS $3.92 vs. est. $3.07; Q2 revs $1.46B vs. est. $1.26B; shipped 328 da Vinci Surgical Systems, an increase of 84% compared with 178 in Q2 of 2020; grew its da Vinci Surgical System installed base to 6,335 systems as of June 30, an increase of 10% compared with 5,764 as of the end of Q2 of 2020; raises FY21 procedure growth view to 27%-30% from 22%-26% and sees FY21 gross profit margin 70.5%-71.5% of revenue Natera ($NTRA) files to sell $350M of common stock SmileDirectClub, Inc. ($SDC) announced that an en banc panel of the U.S. Court of Appeals for the Eleventh Circuit sided with the company, rejecting the Georgia Board of Dentistry’s attempt to shield itself from antitrust liability through an interlocutory appeal. Celyad Oncology ($CYAD) highlights new preclinical allogeneic armored CAR T candidate developed from its shRNA platform; the submission of IND application for CYAD-203, a new first-in-class shRNA-based allogeneic, IL-18-armored CAR T candidate, expected in mid-2022 Industrials & Materials AAR Corp. ($AIR) Q4 adj EPS $0.47 vs. est. $0.48; Q4 sales $437.6M vs. est. $422.6M; Q4 adj Ebitda $34.3M up +60% y/y Canadian National ($CNI) Q2 adj EPS C$1.49 (in-line with est.) vs. C$1.28 YoY; Q2 revenue C$3.6B versus C$3.21B last year; reaffirms 2021 outlook; still targeting double-digit adjusted eps growth for 2021 and still sees high single-digit volume growth in for 2021; quarterly carloads 1.47 mln vs 1.29 mln Forestar Group ($FOR) 3Q EPS $0.32 vs est. $0.40 on revs $312.9Mm vs est. $307.6Mm; says housing conditions remain favorable across the country, now expect to deliver between 15,500-16,000 lots in FY Rexnord Corp. ($RXN) 2Q adj EPS $0.58 vs est. $0.50 on sales $568Mm vs est. $543.9Mm; expects 3Q sales in WM platform to increase high-teens % YoY Rush Enterprise ($RUSHA) 2Q EPS $1.00 vs. est. $0.82 on revs $1.316B vs. est. $1.31B Technology, Media & Telecom Netflix ($NFLX) 3Q EPS $2.97 vs. est. $3.16 on revs $7.34B vs. est. $7.32B, streaming net adds 1.54Mm w/ about 2/3 of global paid net adds from APAC; guides 3Q streaming net adds 3.5Mm 9vs. est. at 5.5Mm), sees 3Q revs $7.48B vs. est. $7.48B; says continue to target 20% operating margin for FY Avnet ($AVT) guides Q4 EPS $1.01-$1.05 vs. est. $0.79; said strong quarter-over-quarter sales growth in EMEA, Asia and Farnell, and continued operating improvement in the Americas, all contributed to better-than-expected results Qualtrics ($XM) Q2 EPS $0.04 vs. est. loss (2c); Q2 revs $249.3M vs. est. $241.63M; sees Q3 revs $257M-$259M vs. est. $246.6M; Q2 2021 Subscription Revenue of $204.5M, up 48% YoY; next 12 months remaining performance obligations of $754.8M, up 61% YoY ASML Holdings ($ASML) raises its 2021 sales outlook and announces a new share buyback, as orders for its equipment soared amid a global computer chip shortage; announces 9 bln euro ($10.60 bln) share buyback; said demand remained strong as major chipmakers raced to expand production capacity SAP AG ($SAP) Q2 revenue was 6.67 billion euros, up 1% from the year earlier quarter, or 3% higher adjusted for currency, and about in line with the Wall Street analyst consensus forecast at 6.69 billion euros; posted cloud revenue of 2.276 billion euros, up 11%, or 17% in constant currency, missing the Street consensus at 2.31 billion euros CS Disco ($LAW) 7M share IPO priced at $32.00 Paycor ($PYCR)5M share IPO priced at $23.00 VTEX ($VTEX) 19M share IPO priced at $19.00
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Monday, July 19, 2021 Futures Up/Down % Last Dow -358.00 1.04% 34,206 S&P 500 -32.25 0.74% 4,286 Nasdaq -55.50 0.38% 14,615 U.S. stock markets are looking lower as S&P futures fall -0.7% as rising Covid case rates and recent technology underperformance weigh on risk sentiment. In Asian markets, the Hang Seng falls as much as 2.2%, the Nikkei drops 1.4% and the Shanghai Composite slips -0.3%. In Europe, the rise of the rapidly-spreading Delta variant is threatening to derail many efforts towards a full economic reopening as worsening outbreaks continue to cloud the once-promising outlook. The German DAX is down 2% (over 300 points) to 15,225, while the FTSE 100 drops 2% to 6,870. The Dollar Index (DXY) rises for third day while yen strengthens below 110/USD amid risk aversion. The Aussie dollar falls to seven-month low and AUD 10-year yield drops after Victoria extends lockdown and Sydney again tightens restrictions amid worsening delta outbreak. Oil drops over -2.5% as WTI crude slips below the $70 per barrel level after OPEC and its allies struck a deal to inject more oil into the global economy. Treasury 10-year yield eases to 1.25% as relentless bond rally continues. Stocks finished lower Friday after surging inflation led to an unexpected decline in U.S. consumer sentiment in early July. For the week, the Dow fell 0.5%, the S&P 500 declined 1% and the Nasdaq dropped 1.9%. Stocks snapped their three-week losing streak with sharp declines on Friday, with defensive stocks leading the weekly gains with utilities, staples and REITs (reached a record high), while energy got slammed down over 7%, followed by a drop in discretionary and materials. In corporate news this weekend, Zoom Media ($ZM) announced a +$14B acquisition of Five9 Inc. ($FIVN) in the software space on Sunday ahead of a busy week of earnings. Market Closing Prices Yesterday The S&P 500 Index dropped -32.87 points, or 0.75%, to 4,327.16 The Dow Jones Industrial Average fell -299.15 points, or 0.86%, to 34,687.85 The Nasdaq Composite slumped-115.86 points, or 0.80%, to 14,427.24 The Russell 2000 Index declined -27.05 points, or 1.24% to 2,163.24 Events Calendar for Today 10:00 AM ET NAHB Housing Market Index for July Earnings Calendar: Earnings Before the Open: AN, BMRC, CALM, GNTY, PLD, TSCO Earnings After the Close: CCK, ELS, EQBK, FBK, FNB, IBM, JBHT, PACW, PPG, STLD, WTFC, ZION Macro Up/Down Last Nymex -2.04 69.77 Brent -1.99 71.60 Gold -9.00 1,803.05 EUR/USD -0.0032 1.1774 JPY/USD -0.30 109.77 10-Year Note -0.041 1.250% World News S. TIC report: foreigners bought a net total $105.3 B in assets in May, after purchases of $100.1 B (was $101.2 B) in April. But net long-term data showed sales of -$30.2 B in May after purchases of $100.7 B in April. Of those long-term flows, -$93.4 B in Treasury coupons were liquidated, while $37.8 B in agencies was purchased, along with $17.3 B in corporate bonds OPEC and its allies struck a deal that allows for monthly supply hikes of 400k b/d until the end of 2021, putting the group back in control of the crude market. Starting in August, they’ll pump out an extra 400K barrels a day through the end of 2022, restoring all the cuts they made at the start of the COVID-19 pandemic. UAE will have a new baseline of 3.5m bpd, Iraq/Kuwait baselines will increase by 150k bpd each, Saudi/Russian baselines will be adjusted to 11.5m bpd Sector News Breakdown Consumer Academy Sports and Outdoors ($ASO) is more than a pandemic play, according to Barron’s saying interest in health and wellness has been enduring, and the company’s manageable debt level will allow it to open more brick-and-mortar stores Cal-Maine Foods ($CALM) Q4 EPS loss (-$0.09) below the $0.18 estimate; reports Q4 revenue $349.8M vs. est. $404.67M; average sales price for shell eggs was $1.32 per dozen for q4 compared with $1.58 per dozen for same period last year; said expect to see further volatility in market prices for our primary feed ingredients Cruise operators Carnival Corp ($CCL), Royal Caribbean Group ($RCL) and Norwegian Cruise Line Holdings (NCLH) fall about 3% each premarket along with a decline in other European travel and leisure stocks on worries that the fast-spreading Delta variant could hamper travel demand and slow the ongoing global economic recovery Veoneer ($VNE) signed an agreement with LiDAR company Baraja to industrialize their Spectrum-Scan LiDAR technology for the next market wave of L2+ through L4 autonomous vehicle applications Energy, Industrials and Materials OPEC+ and its allies, including Russia, agree Sunday to further relax output curbs. Under the deal, announced following a virtual meeting of OPEC+ energy ministers, production will rise by 400,000 barrels a day each month beginning in August and would eventually undo all of the curbs put in place last year Ingersoll Rand Inc. ($IR) has made takeover bids for component maker SPX Flow Inc. ($FLOW) that have so far been rebuffed, according to people familiar with the matter, the WSJ reported on Sunday. IR’s most recent all-cash offer valued SPX Flow in the low-$80s a share, the people said, or around $3.5 billion https://on.wsj.com/3kB1qlt Proxy advisory firm Institutional Shareholder Services ($ISS) has favored Brookfield Infrastructure Partners’ ($BIP) offer for Inter Pipeline Ltd ($IPPLF) in a blow to a rival bid from Pembina Pipeline Corp ($PMB). During the past week, Brookfield raised its hostile offer for Inter Pipeline to about C$8.58 billion ($6.80 billion). Alcoa ($AA) upgraded to Conviction Buy from Buy at Goldman Sachs Financials Interactive Brokers Group ($IBKR) introduces a new simple flat fee structure of a flat 3 EUR or 3 GBP per trade (trades up to 6,000 EUR/GBP in value) for stock trading in Europe Healthcare Amyris ($AMRS), Zymergen ($ZY), Soaring Eagle Acquisition ($SRNG) are the three main stock plays on synthetic biology, which could become a huge market according to Barron’s this weekend Johnson & Johnson ($JNJ) is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection – Reuters Tempest Therapeutics ($TPST) files $250M mixed securities shelf Technology, Media & Telecom Zoom Video Communications, Inc. ($ZM) to acquire Five9, Inc. ($FIVN) in an all-stock transaction valued at approximately $14.7 billion with FIVN holders to receive $200.28 per share; FIVN holders will receive 0.5533 shares of Class A common stock of Zoom Video Communications, Inc. for each share of Five9, Inc. https://on.mktw.net/3xRVVTf SAP AG ($SAP) is moving to cloud, and investors are yet to give company credit, according to Barron’s noting while the transformation will take time, the CEO expects to triple its revenue from the cloud by 2025, and 40% of cloud revenue has been coming from new clients Telefonica SA ($TEF) agreed to sell a stake in its Colombian fiber optic broadband network to KKR & Co. Telefonica will control 40% of the new venture, which will aim to bring high-speed internet access to about 90 cities in the next three years, and KKR the remaining 60%, the carrier said in a statement late Friday. The venture is valued at $500 million Bill Ackman’s blank-check company Pershing Square Tontine Holdings ($PSTH) had dropped a deal to buy 10% of Vivendi’s flagship Universal Music Group after U.S. regulators questioned its stake purchase of Universal Music. DISH ($DISH) signed a transformative, long-term strategic Network Services Agreement (NSA) with AT&T, making AT&T the primary network services partner for DISH MVNO customers
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UK Markets Closed in the green yesterday, supported by gains in mining sector stocks. Redrow advanced 3.2%, after the housebuilder forecasted 2022 revenues to exceed £2 billion, amid robust book orders and completion of a private rental sector project in London. On the flipside, 888 Holdings declined 6.5%, despite projecting its adjusted annual core profit to be slightly higher. Spire Healthcare Group dropped 4.8%, after the hospital operator postponed a vote on its takeover by Australia’s Ramsay Health Care, after shareholders Fidelity International and Toscafund Asset Management rejected a final improved offer. JD Wetherspoon fell 1.9%, after announcing that it still expects to report an annual loss. Royal Dutch Shell slid 0.6%. The company announced that it would boost returns to shareholders through share buybacks or dividends sooner than expected. The FTSE 100 advanced 0.7%, to close at 7,151.0, while the FTSE 250 rose 0.3%, to end at 22,970.2. . European Markets Finished higher yesterday, after the European Commission raised its growth forecasts for the Euro-zone. Nordic Entertainment Group climbed 6.3%, after the company received approval to display Premier League games in the Netherlands, Poland, Estonia, Latvia and Lithuania from 2022 to 2028. SAP advanced 3.5%, after a top broker double upgraded the stock to ‘Buy’. Electricite de France added 2.0%, after the power group raised its EBITDA forecast for 2021. On the other hand, Dufry fell 1.3%, as Autogrill denied reports of a potential tie-up with the duty-free retailer. The FTSEurofirst 300 index gained 0.8%, to settle at 1,772.5. The German DAX Xetra rose 1.2%, to settle at 15,692.7, while the French CAC-40 added 0.3%, to close at 6,527.7. . US Markets Finished higher yesterday, after the US Federal Reserve (Fed) minutes indicated that it may not tighten monetary policy soon. Biohaven Pharmaceutical Holding jumped 13.6%, after the company earned $93.0 million in sales in the second quarter of 2021 through its new migraine treatment. Boston Beer advanced 3.4%, after a top broker upgraded its rating on the stock to ‘Outperform’ from ‘Neutral’. On the other hand, Moderna declined 4.9%. The pharmaceutical company announced that it has started giving doses to patients in a Phase ½ clinical trial evaluating an experimental seasonal flu vaccine. Beyond Meat fell 3.6%, after a broker downgraded its rating on the stock to ‘Hold’ from ‘Buy’. The S&P 500 gained 0.3%, to settle at 4,358.1. The DJIA rose 0.3%, to settle at 34,681.8, while the NASDAQ added 0%, to close at 14,665.1. . Asian Markets In all are trading lower this morning. In Japan, Komatsu and Inpex have dropped 2.5% and 3.4%, respectively. Meanwhile, KDDI and Hitachi Zosen have advanced 1.6% and 3.2%, respectively. In Hong Kong, CNOOC and PetroChina have fallen 4.4% and 5.4%, respectively. Meanwhile, MTR and BYD have risen 0.5% and 1.6%, respectively. In South Korea, Hyundai Wia and Jeju Air have declined 6.7% and 7.3%, respectively. Meanwhile, Asiana Airlines and Seoul Food Industrial have climbed 7.1% and 9.7%, respectively. The Nikkei 225 index is trading 0.5% lower at 28,212.2. The Hang Seng index is trading 1.9% down at 27,416.9, while the Kospi index is trading 0.6% lower at 3,265.1.
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European Markets Finished mostly higher yesterday, amid growing optimism about global economic recovery, following acceleration in vaccine rollout. Teamviewer advanced 5.9%, after the company announced that it has signed a partnership deal with SAP to focus on innovation and digital transformation in industrial environments. Equinor added 1.2%, following reports that the company found oil in production license 554 offshore Norway along with its partners Var Energi and Aker BP. On the other hand, Koninklijke Philips dropped 4.2%, after the medical equipment company announced that it would recall some CPAP breathing devices and ventilators globally. The FTSEurofirst 300 index gained 0.2%, to settle at 1,766.9. The German DAX Xetra fell 0.1%, to settle at 15,673.6, while the French CAC-40 added 0.2%, to close at 6,616.4. .
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European Markets Finished higher yesterday, on optimism over economic reopening. BioNTech jumped 8.8%, after the drug maker announced plans to construct a new manufacturing site for its vaccines based on mRNA technology in Singapore. Societe Generale advanced 2.9%, amid plans to target higher profitability for its global banking and investor solutions unit, which includes investment banking and asset management. Wacker Neuson added 1.8% after the light and compact equipment manufacturer reported a rise in its first quarter revenue. Aurubis rose 1.4%, after the copper producer reported strong quarterly earnings. On the other hand, Capgemini slid 0.3%, after the company announced plans to acquire Multibook's SAP global services line. The FTSEurofirst 300 index gained 0.1%, to settle at 1,713.4. The German DAX Xetra slightly rose to settle at 15,400.4, while the French CAC-40 marginally climbed to close at 6,386.0. .
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European Market Finished higher yesterday, following the European Central Bank's (ECB) monetary policy announcement. SAP advanced 3.4%, after the company recorded a rise in its net profit in the first quarter. Pernod Ricard rose 1.3%, after the company reported a double digit growth in the three months to end March, following strong demand in its key US and Chinese markets. On the other hand, Credit Suisse Group fell 2.1%, after the lender reported a wider than expected loss in the first quarter. Orange shed 1.6%, even though the company reported a rise in its first quarter revenue. Renault slid 1.3%, after the automaker reported a decline in its first quarter revenue. The FTSEurofirst 300 index gained 0.7%, to settle at 1,693.1. The German DAX Xetra rose 0.8%, to settle at 15,320.5, while the French CAC-40 added 0.9%, to close at 6,267.3. .
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European Markets Finished mostly higher yesterday, amid upbeat corporate earnings reports. LVMH Moet Hennessy Louis Vuitton climbed 2.9%, after the luxury goods company reported better than expected sales in the first quarter, amid strong performance by flagship brands. SAP advanced 1.1%, after the business software maker raised its annual revenue outlook, citing a sharp rise in new cloud business. Covestro added 0.7%, after the company raised its earnings and operating cash flow guidance for the current year. Credit Suisse Group 0.1%, as the lender has highlighted around $2.3 billion in problematic loans in its Greensill Capital funds. Meanwhile, HELLA GmbH & Co. KGaA dropped 2.4%, despite reporting a rise in its adjusted earnings before interest and taxes for the first nine months of fiscal year 2020/2021. The FTSEurofirst 300 index gained 0.2%, to settle at 1,680.1. The German DAX Xetra fell 0.2%, to settle at 15,209.2, while the French CAC-40 added 0.4%, to close at 6,208.6.. .
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> GOOGLE WILL STOP USING ORACLE’S FINANCE SOFTWARE AND ADOPT SAP INSTEAD - CNBC
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Google will stop using Oracle's finance software and adopt SAP instead
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Europe Market Europe finished lower on Friday, amid concerns over rising coronavirus cases and delay in vaccine delivery in Europe. H&M Hennes & Mauritz declined 5.0%, after the fashion retailer reported a decline in its annual sales and profit. Banco Bilbao Vizcaya Argentaria dropped 4.4%. The lender announced that it intends to buy back 10% of its shares and return to paying 35%-40% of its profits in dividends. Givaudan fell 3.5%, after the fragrance and flavour products maker reported upbeat results in the fourth quarter and confirmed its mid-term targets. SAP shed 3.2%, as the company forecasted a drop in its annual operating profit. On the other hand, Telefon AB L.M. Ericsson climbed 7.6%, after the telecom company reported better than expected fourth quarter net profit. The FTSEurofirst 300 index slipped 2.0%, to settle at 1,524.1. The German DAX Xetra fell 1.7%, to settle at 13,432.9, while the French CAC-40 shed 2.0%, to close at 5,399.2. .
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Titoli Positivi 40 / Titoli Negativi 9 Migliore SAP 4.45% Peggiore Prosus-2.73%
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Titoli Positivi 26 / Titoli Negativi 4 Migliore SAP 4.45% Peggiore Delivery Hero-3.09%
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Qualcuno segue SAP?
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Europe Market Europe finished lower on Friday, amid worries over swift economic recovery, due to new lockdown measures and resurgence in Covid-19 cases in China. Bouygues dropped 2.1%. The company’s telecommunications arm announced a strategic plan for the next five years to become the second biggest telecoms operator in mobile in France. Siemens fell 2.0%, after General Electric filed a US lawsuit accusing that one of its subsidiaries stole trade secrets to rig bids for large contracts. SAP slid 0.7%, despite reporting a rise in its profits in the fourth quarter. On the contrary, Novartis added 2.1%, after the drugmaker secured a breakthrough therapy designation from the US Food and Drug Administration for its ligelizumab drug to treat chronic spontaneous urticarial. The FTSEurofirst 300 index slipped 1.0%, to settle at 1,573.9. The German DAX Xetra fell 1.4%, to settle at 13,787.7, while the French CAC-40 shed 1.2%, to close at 5,611.7. .
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Titoli Positivi 26 / Titoli Negativi 24 Migliore Prosus 4,72% Peggiore SAP-1,9%
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Titoli Positivi 16 / Titoli Negativi 14 Migliore Volkswagen VZO 3,04% Peggiore SAP-1,87%
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Europe Market Europe finished mostly higher yesterday, following the rollout of the coronavirus vaccine and amid post-Brexit trade deal. Novartis advanced 2.4%. The company announced that the registration of the drug, Zolgensma, for the treatment of spinal muscular atrophy, may be delayed by one and a half year in order to assess the quality of the drug. SAP rose 1.5%, after the software company announced that its unit, Qualtrics International Inc., has filed for an initial public offering with the US Securities and Exchange Commission to raise up to $100.0 million. On the flipside, Commerzbank fell 1.5%, as the company set aside €610.0 million in the fourth quarter to pay for one off costs related to planned layoffs. The FTSEurofirst 300 index gained 0.8%, to settle at 1,547.3. The German DAX Xetra fell 0.2%, to settle at 13,761.4, while the French CAC-40 added 0.4%, to close at 5,611.8. .
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or was it SAp
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drows sounds kinda sap
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that SAP interesting too
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Exhibit A - SAP
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Buongiorno a tutti Sap ha affossato il dax primo punto di reazione positiva 12450
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Good morning traders, Futures are down about .75% with small caps and banks the weakest. The dollar is up but off its overnight highs with $DXY failing to hold above the $93 level. Gold is flat, while silver and crude are lower. $SAP spanked hard on lowered forecast after reporting earnings, looking at it for a bounce day trade. $DNKN possible buy out target, could be announced today. Trade well.
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There may not be much in the way of fundamental news today but there is plenty to come with the virus and US election (stimulus anyone?) added to the mix. Plus earnings will be in full swing with the tech giants likely to grab the attention for most of the week with Microsoft reporting tomorrow. If you've looked at investing.com you will have seen the headline about SAP - Germany's most valuable company which has slashed its profit forecasts. And as the headline says 'shocks a complacent tech narrative'. A strong & rising euro will not be good for the stock either.
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European markets finished mostly higher yesterday, following news about Donald Trump’s recovery from Covid-19. Suez climbed 4.6%, after rival Veolia succeeded in buying 29.9% of the company owned by power group, Engie. On the flipside, Logitech International declined 5.1%, following reports that Apple had stopped selling headphones and wireless speakers from rivals. SAP fell 1.3%. The software group announced the launch of Sail Insight, a mobile app for the global sailing community which allows users to create, track and manage their own races and provides live data and analytics. Kering slid 0.3%. The luxury goods company announced that it has completed the sale of about 5.9% stake in the sportswear group, Puma for €655.6 million. The FTSEurofirst 300 index traded marginally lower, to settle at 1,415.8. The German DAX Xetra rose 0.6%, to settle at 12,906.0, while the French CAC-40 added 0.5%, to close at 4,895.5 .
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I can’t wait for tik tok to run on SAP
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Opzionisti Buongiorno, selezione O1Screener su PRO REAL TIME, SAP MOLTO BELLA si vendono PUT in CSP, quale base prendereste?
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I found this persuasive https://seekingalpha.com/article/4364806-michaels-dour-holiday-decor-season-expected-distressed-liquidations-sap-demand
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