Liveblog Archief dinsdag 28 september 2021

TOP NEWS
• Australia challenges Google's ad dominance, calls for data-use rules
Australia's antitrust watchdog called for powers to curb Google's use of internet data to sell targeted ads, joining other regulators in saying the firm dominates the market to the point of hurting publishers, advertisers and consumers.

• Pfizer submits data to FDA for COVID-19 vaccine in younger children
Pfizer and BioNTech submitted initial trial data for their COVID-19 vaccine in children aged 5 to 11 to U.S. regulators and said they would make a formal request for emergency use authorization in the coming weeks.

• U.S. SEC cracks down a second time on SPAC equity accounting treatment – sources
Expanding its crackdown on the SPAC sector, the U.S. Securities and Exchange Commission has told top auditors of blank-check acquisition companies to account more strictly for public shares in these shells, according to multiple industry accountants and lawyers familiar with the change.

• Ford, SK to invest $11.4 billion to add electric F-150 plant, three battery factories
Ford and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker's push into electric vehicles.

• Tariffs, seizures expose U.S. solar industry's vulnerability to imports
Cheap imports have fueled the U.S. solar industry's dramatic growth for years. Now, mounting trade and transport issues is exposing that dependence as a vulnerability, slowing shipments and putting big projects at risk, according to industry representatives.


BEFORE THE BELL
Wall Street futures were down, with the Nasdaq futures falling over 1%, as technology shares came under pressure from a surge in bond yields that have been lifted by expectations of higher interest rates. European stocks were lower and Asian equities mostly fell as fresh signs of a slowdown in China's economy hurt investor sentiment. A stronger dollar weighed down on the gold prices. Oil rose on worries over tight supply. Consumer confidence index and home prices data are on the economic radar.


STOCKS TO WATCH

Results
Aurora Cannabis Inc: The company on Monday missed Wall Street expectations for fourth-quarter revenue as pandemic-related restrictions weighed down consumer demand, leading Canadian provinces to cut orders. After more than three years into Canada's legalization of recreational cannabis, profits have been wearing thin at most pot firms, weighed down by fewer-than-expected retail stores, cheaper rates on the black market and sluggish overseas growth. The company's total net revenue fell 20% to C$54.8 million.

Deals of the Day
Endeavor Group Holdings Inc & Scientific Games Corp: Endeavor, the owner of the Ultimate Fighting Championship, will acquire sports betting business OpenBet from Scientific Games for $1.2 billion in cash and stock, the companies said on Monday. Endeavor said the acquisition will strengthen its position in the sports betting industry. The company said it plans to combine OpenBet, a sportsbook and gaming software, with its existing sports betting business IMG ARENA. The deal comes at a time when the online gambling space has been witnessing frenetic dealmaking as more states in the United States are expected to legalize the industry.

IPOs
P10 Holdings Inc: P10 Inc, the holding company of investment firm P10 Holdings Inc, on Monday filed for an IPO in the United States, becoming the latest alternative asset manager exploring a public listing as shares of such firms have rallied this year. While P10 has not yet set terms for its IPO, Reuters reported earlier this month the Dallas-based firm could seek a valuation of more than $1 billion. P10 focuses on lower-middle market deals in areas such as private equity, venture capital and private credit, and operates four divisions that include RCP Advisors and TrueBridge Capital Partners.

Moves
Morgan Stanley: The company's Asia Pacific co-chief executive Wei Sun Christianson will retire from the bank after nearly two decades at the end of 2021, according to a memo reviewed by Reuters. Christianson will remain as an advisory director for Morgan Stanley once she steps down, advising the bank and its clients on China, the note said. Gokul Laroia, the regional co-CEO with Christianson since 2014, will become the sole CEO for Asia Pacific, not including Japan. Laroia, who has been with Morgan Stanley since 1995, is also the co-head of global equities.

In Other News
Acceleron Pharma Inc & Merck & Co: Merck is in advanced talks to acquire drugmaker Acceleron, the Wall Street Journal reported on Monday, citing people familiar with the matter. A potential deal could help Merck, which sells the blockbuster cancer drug Keytruda, to add drugs for rare diseases to its pipeline. Cambridge, Massachusetts-based Acceleron focuses on the discovery, development and commercialization of therapeutics to treat blood-related disorders.

Activision Blizzard Inc: The videogame publisher and the U.S. Equal Employment Opportunity Commission (EEOC) said on Monday they had reached an agreement to settle claims over sexual harassment and discrimination in the company's workplace. Under the agreement, Activision committed to create an $18 million fund to compensate and make amends to eligible claimants, the owner of "Call of Duty" and "Candy Crush" franchises said in a statement. The EEOC, which been investigating allegations of sexual harassment, discrimination and retaliation at Activision for three years, found that the company failed to take corrective and preventive measures on sexual harassment complaints, according to a filing in the U.S. District Court of the Central District of California.

Alibaba Group Holding Ltd: China's Alibaba has begun offering payment services from Tencent's WeChat on a number of its apps, after the government ordered major tech firms to stop blocking each other's services and links. Local tech blog 36Kr reported that users of Alibaba's food delivery app Ele.me, luxury goods app Kaola and e-book app Shuqi can now purchase goods via WeChat Pay, one of China's most popular online payment options. Alibaba's used-goods marketplace app Xianyu and supermarket app Freshippo have also applied for WeChat Pay integration, the tech blog said.

Alphabet Inc: Google dominates Australia's online advertising market to the point of harming publishers, advertisers and consumers, the country's antitrust regulator said, calling for new rules to stop "anti-competitive self-preferencing". A report by the Australian Competition and Consumer Commission (ACCC), published on Tuesday, said more than 90% of clicks on advertisements traded through the Australian "ad tech" supply chain passed through at least one Google service in 2020. "Google has used its vertically integrated position to operate its ad tech services in a way that has, over time, led to a less competitive ad tech industry," ACCC Chair Rod Sims said in a statement, released alongside the report. Separately, Google said deals with Android phone makers that landed it a record 4.3-billion-euro antitrust fine boosted competition and rejected EU charges they were a carrot-and-stick tactic that stifled rivals.

Biogen Inc: Japanese drugmaker Eisai on Monday began its application process for its experimental drug for early Alzheimer's disease using an accelerated approval pathway, the same path that helped Eisai's development partner Biogen win U.S. approval of its medication in June. The Biogen/Eisai drug Aduhelm was the first Alzheimer's treatment to win approval in nearly 20 years, but the Food and Drug Administration's controversial use of the accelerated approval process - which authorizes drugs for severe conditions without strong proof of a benefit to patients - has come under heavy fire.

Boeing Co: Boeing and Guangzhou Aircraft Maintenance Engineering will establish two 767 freighter-conversion lines next year, company executives said, citing high air cargo demand. Separately, the company showcased efforts to boost efficiency in its aircraft on Monday, a week after rival Airbus staged a similar conference, as global aviation faces growing political pressure to cut emissions and demands by environmental groups for curbs to air travel.

Ford Motor Co: The automaker and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker's push into electric vehicles. Ford said on Monday it now expects to have 40% to 50% of its global vehicle volume to be all-electric by 2030, up from its prior forecast of 40%. The companies intend to create nearly 11,000 jobs by opening assembly and battery plants in Stanton, Tennessee, and two additional battery factories in Glendale, Kentucky, as part of Ford's previously announced plan to spend more than $30 billion through 2030 on electrification, Ford said.

Goldman Sachs Group Inc: Shares in Goldman Sachs' Petershill Partners opened flat, as the firm which invests in alternative investment managers sold $1.64 billion of stock in an initial public offering. The company, which takes minority stakes in private equity, venture capital and hedge funds, was valued at 4 billion pounds. It plans to use the proceeds to make more investments. Petershill set its IPO price at 350 pence per share, the level its stock remained trading at as the market opened. Naguib Kheraj, Petershill's chairman, said the listing would give "public market investors a unique opportunity to gain diversified access to the rapidly growing alternative investment industry".

Microsoft Corp: The company's near-acquisition of social media app TikTok last year was the "strangest thing I've ever worked on," Chief Executive Officer Satya Nadella said on Monday. Speaking at the Code Conference in Beverly Hills, California, Nadella said he was looking forward to bringing Microsoft's security, child safety and cloud expertise to TikTok. "It's unbelievable," Nadella said of the experience during an on-stage interview. "I learned so many things about so much and so many people. First of all, TikTok came to us. We didn't go to TikTok." "TikTok was caught in between a lot of things happening across two capitals," Nadella continued. "President Trump had a particular point of view of what he was trying to get done there, and then it just dropped off. The [U.S. government] had a particular set of requirements and then it just disappeared."

Netflix Inc: The company is not looking to buy a movie theater chain, Co-Chief Executive Ted Sarandos said on Monday, a rejection of speculation that swirled after the world's largest streaming service bought two cinemas. The company owns one theater in New York, purchased in 2019, and one in Los Angeles, which it bought in 2020. Netflix uses the cinemas to hold movie premieres and to showcase some of its original films. Asked at Vox Media's Code Conference if Netflix might next buy a theater chain, Sarandos said "no." He also said he expected theaters to survive the rise of at-home streaming but that audiences would make fewer trips to their local cinema when they can watch so much programming at home.

Pfizer Inc & BioNTech SE: The companies submitted initial trial data for their COVID-19 vaccine in children aged 5 to 11 to U.S. regulators and said they would make a formal request for emergency use authorization in the coming weeks. The Pfizer-BioNTech vaccine was authorized in kids aged 12-15 roughly a month after the companies filed for authorization. If the same timeline is followed for this application, kids could start receiving their shots as soon as late October. Separately, French vaccine company Valneva and Pfizer announced more positive Phase 2 results, including on the booster response, for their Lyme disease vaccine candidate VLA15.

Sanofi SA: Sanofi is dropping plans for its own mRNA-based COVID-19 vaccine because of the dominant role of the BioNTech-Pfizer alliance as well as Moderna in the fight against the pandemic, the company said. Sanofi will instead focus on efforts with British partner GlaxoSmithKline to bring another COVID-19 vaccine candidate to market based on the more conventional protein-based approach, where mass trials are ongoing. The decision to drop clinical development of a shot based on mRNA, or messenger RNA, acquired as part of its takeover of Translate Bio, came despite positive Phase I/II study interim results announced where participants' blood readings showed a strong immune reaction.

Tesla Inc: A fire that damaged two Tesla battery units at a huge energy storage project in Australia in July was caused by a coolant leak that went undetected during start-up tests, a state watchdog said in a report released. Safety regulators cleared the so-called Victoria Big Battery project, run by French renewables firm Neoen, to resume testing at the site near Melbourne. However the safety regulator Energy Safe Victoria said it will now determine whether there have been any breaches of the state's electricity safety rules and "if so, whether enforcement action is warranted".

Tilray Inc: A U.S. judge on Monday dismissed a lawsuit accusing Tilray, the world's largest cannabis producer by sales, of fraudulently overstating the value of a marketing and revenue-sharing agreement with Authentic Brands. U.S. District Judge Paul Crotty in Manhattan said shareholders failed to show that the Canadian company exhibited "conscious misbehavior or recklessness" in trumpeting the agreement, when it knew that regulatory uncertainty over cannabis-based products would dampen customer demand. "Tilray certainly appears to have overestimated, by orders of magnitude, both the value of the ABG Agreement and the likelihood of fortuitous regulatory change," Crotty wrote. "But being wrong - even embarrassingly so - is not the same as being dishonest."


ANALYSIS
Huawei CFO's admissions won't help U.S. in its case against the company -legal experts
The admission by Huawei's chief financial officer that she misled a bank about the company's business dealings in Iran likely won't help the United States as it continues to prosecute Huawei for the same charges.


ANALYSTS' RECOMMENDATION
• Franklin Resources Inc: Jefferies raises target price to $35 from $32, saying despite ongoing headwinds to equity flows, the company is seeing some pockets of strength, particularly in alternatives as well as fixed income and wealth management.

• Morgan Stanley: Berenberg raises target price to $95 from $91 to reflect higher revenue estimates, particularly in wealth and investment management.

• Travel + Leisure Co: Jefferies cuts rating to hold from buy to reflect earnings impact through 2023 on financing and exchange fees from COVID-reduced sales.

• Vail Resorts Inc: CFRA cuts rating to hold from buy on expectation of an increasingly bifurcated near-term outlook for the company’s recovery from the pandemic-related disruption.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 (approx.) Advance goods trade balance for Aug : Prior -$86.82 bln
0830 (approx.) Wholesale inventories advance for Aug : Prior 0.6%
0830 (approx.) Retail inventories ex-auto advance for Aug : Prior 0.5%
0900 (approx.) Monthly home price mm for Jul : Prior 1.6%
0900 (approx.) Monthly home price yy for Jul : Prior 18.8%
0900 (approx.) Monthly Home Price Index for Jul : Prior 343.3
0900 Caseshiller 20 mm SA for Jul : Expected 0.017; Prior 1.8%
0900 Caseshiller 20 mm NSA for Jul : Prior 2.0%
0900 Caseshiller 20 yy for Jul : Expected 0.2; Prior 19.1%
1000 (approx.) Consumer Confidence for Sep : Expected 114.5; Prior 113.8
1000 (approx.) Rich Fed Composite Index for Sep : Prior 9
1000 (approx.) Rich Fed, Services Index for Sep : Prior 15
1000 (approx.) Rich Fed Manufacturing Shipments for Sep : Prior 6
1030 (approx.) Texas Service Sector Outlook for Sep : Prior 5.4
1030 (approx.) Dallas Fed Services Revenues for Sep : Prior 16.5


COMPANIES REPORTING RESULTS
IHS Markit Ltd: Expected Q3 earnings of 83 cents per share
Micron Technology Inc: Expected Q4 earnings of $2.33 per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Endava PLC: Q4 earnings conference call
0830 United Natural Foods Inc: Q4 earnings conference call
0900 Concentrix Corp: Q3 earnings conference call
0900 Synnex Corp: Q3 earnings conference call
0930 General Mills Inc: Annual Shareholders Meeting
1000 AAR Corp: Annual Shareholders Meeting
1100 Factset Research Systems Inc: Q4 earnings conference call
1630 Micron Technology Inc: Q4 earnings conference call
2100 Pinduoduo Inc: Shareholders Meeting


EX-DIVIDENDS
Armada Hoffler Properties Inc: Amount $0.16
Main Street Capital Corp: Amount $0.21
Philip Morris International Inc: Amount $1.25

Goedemorgen,

De week begon goed tot er divergenties op gang komen tussen vooral de tech sectoren en de traditionele sectoren, zo sluiten de Nasdaq, de Nasdaq 100, de SOX index en de AEX index wat lager terwijl de Dow Jones, de DAX en vooral de Dow Transport index met een plus de week begonnen. Zo trekken de indices die eerst nog achter bleven de scheve situatie wat recht, het is nu de vraag of alles weer richting de toppen zal geraken of zal de correctie doorzetten en nu bij alle indices na een week zoeken naar richting?

Update dinsdag 28 september:
Opvallend was dat ASML fors moest inleveren, het aandeel verloor 3% en blijft een stempel drukken op de AEX index, zelfs de 5% winst bij Shell en 4,5% bij ING kunnen de AEX niet in de plus houden. Het bracht wel wat tegengas op de terugval van ASML maar toch blijft dat aandeel de richting bepalen. Als de tech sector zich wat kan herpakken dan zal de AEX snel weer richting die 800 punten oplopen denk ik. Dat zien we later deze week wel, Shell gaat er sterk op vooruit trouwens de afgelopen dagen want het aandeel breekt door de weerstand die rond de €17,5 uitkwam.

Wall Street wat verdeeld door de tech sector maar toch zien we dat er bepaalde sectoren die waren achtergebleven weer aantrekken. Ook de olie-energie sector en de Transport sector kennen een sterke dag, de Dow Transport won 130 punten (1%) en staat nu zo'n 500 punten ofwel 3,5% boven de bodem van afgelopen week. Verder doen de financiële waarden het heel goed na de FED, zo zien we de banken sector maandag 2,5% hoger en staat de index nu al zo'n 12% boven de bodem van vorige week maandag. We zien dat beleggers meer naar de achtergebleven sectoren overstappen en de dure tech sector even laten voor wat het is. Bij een diepere dip kan de tech wel weer worden opgekocht uiteraard zodat Wall Street alsnog in de breedte een test van de topzone inzet.

Vanmorgen zien we dat de tech weer wat moeite toont, de Dow Jones future en de S&P future staan wel in de plus nu. Wat betreft Europa kunnen we ook een wat hogere opening krijgen vandaag.

Marktoverzicht:
Via het marktoverzicht is duidelijk te zien dat de AEX, de Nasdaq en de SOX wat inleveren, de Dow Jones en de DAX geraken wel wat hoger. Ook de S&P 500 moet maandag wat inleveren.

Dow Jones:
De Dow Jones trekt door en test het 50-daags gemiddelde maar sluit er nog net onder, voor een uitbraak zal de Dow boven de 35.000 punten moeten sluiten de komende dagen.

Weerstand nu de 35.000 punten, later de topzone rond de 35.600-35.650 punten. Steun zien we nu rond de 34.600 punten, later de 34.500 en de 34.000 punten als steun.

AEX index:
De AEX begon nog sterk aan de week maar moest weer inleveren later op de dag, de 800 punten blijft wel nog een hindernis voorlopig en de top net onder de 805 punten blijft een uitdaging al weten we dat het bij de AEX snel kan gaan, zeker als ASML na de forse terugval weer opkrabbelt. Weerstand nu die 800-801 en de 804-805 punten, dat blijft een zware zone.

Steun nu eerst de 782 en daar niet ver onder het 50-daags gemiddelde rond de 775 punten. Deze niveaus houden we eerst in de gaten, eerst maar even bekijken wat de markten gaan doen de komende sessies.

DAX index:
De DAX bleef positief maandag, dat komt voor het grootste deel omdat er in de index veel industrie aandelen zitten. Dat was samen met de financiële waarden de motor achter de recente stijging van de index. Belangrijk blijft dat de DAX boven die 15.500 punten blijft voor wat betreft het verdere verloop.

Steun nu de bekende zone 15.500-15.550 punten met daaronder de 15.300 punten. Later de bodem van vorige week maandag rond de 15.000 punten als belangrijke steun. Weerstand zien we eerst rond de 15.700 punten, later de belangrijke 15.810 punten en de topzone rond de 16.000 punten.

Nasdaq Composite:
De Nasdaq moest inleveren maandag en zelfs even behoorlijk, de index verloor uiteindelijk 0,5%. Het blijft nu wat moeilijker want de steunlijn komt wat dichterbij en de index leunt op het 50-daags gemiddelde dat rond de 14.910 punten uitkomt nu. Steun dus die 14.900 punten, later de lijn onder de bodems rond de 14.800 punten. Onder de 14.800 punten ziet het er veel slechter uit maar zo ver is het nog niet.

Weerstand nu de 15.000 punten, later de 15.125 (20-MA) en de 15.200 punten. Pas boven die 15.200 punten ligt de weg weer open richting de topzone die we rond de 15.400 punten zien.

Overzicht resultaat 2021 blijft goed:
Er lopen geen posities meer nu voor de leden maar zodra ik een leuk momentum zie zal ik weer instappen. Zodra u lid wordt kunt u mee met de nieuwe posities. Om mee te doen kan dat nu via het nieuwe proefabonnement tot 1 december en voor slechts €35. Deze maand en dit jaar staan we in ieder geval op een mooie winst en dat in een moeilijke markt. Wat ik doe is vooral tijd nemen en de rust bewaren, er komen dus weer mooie kansen aan.

Schrijf u nu in via de nieuwe aanbieding en dat is tot 1 DECEMBER voor €35. Ga meteen naar onze tradershop via de link https://www.usmarkets.nl/trade... en schrijf u in voor deze mooie aanbieding ...

Met vriendelijke groet,
Guy Boscart