Liveblog Archief donderdag 28 oktober 2021

TOP NEWS
• Merck profit jumps on strong vaccine, cancer drug sales
Merck & Co reported a 55% rise in third-quarter profit, helped by strong sales of blockbuster cancer drug Keytruda and recovery in demand for its non-COVID-19 vaccines, as well as lower expenses.

• Caterpillar adjusted profit rises on higher equipment sales
Caterpillar's third-quarter adjusted profit rose, as construction demand and higher commodity prices boosted sales of heavy equipment across its businesses.

• Tens of millions of J&J COVID-19 shots sit at Baltimore factory -sources
An estimated 30 million to 50 million doses of Johnson & Johnson's COVID-19 vaccine made early this year sits idle in Emergent BioSolutions' plant in Baltimore awaiting a green light from U.S. regulators to ship, two sources familiar with the matter said.

• U.S. Congress puts Big Oil in the hot seat in climate deception probe
The U.S. Congress on Thursday will open a year's worth of investigations into whether Big Oil deceived Americans about its role in climate change, with Democratic lawmakers planning to grill the chiefs of four oil companies and two lobby groups.

• Shell says break-up of group would not work in real life
Breaking up oil major Royal Dutch Shell into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said.


BEFORE THE BELL
Wall Street futures gained on upbeat earnings from companies while investors awaited the key gross domestic product (GDP) report scheduled for release later in the day. European shares were up ahead of of a policy update from the European Central Bank. Japanese shares ended lower on dim corporate outlook from some technology companies. The dollar was little changed against a basket of currencies as gold prices rose. Oil prices slumped after Iran said talks with world powers on its nuclear programme would resume by end of November. Amazon and Apple are expected to report earnings after market closes.


STOCKS TO WATCH

Results
• Anheuser Busch InBev SA: The world's largest brewer upgraded its forecast for 2021 earnings growth after posting a surprise increase in third-quarter profit, buoyed by beer sales in Brazil. The maker of Budweiser, Corona and Stella Artois said it expects core profit or EBITDA (earnings before interest, tax, depreciation and amortisation) to grow between 10% and 12% in 2021, compared with an 8%-12% growth forecast earlier. AB InBev said core profit rose 3.0% on a like-for-like basis in the July-Sept period, against an expected 2.3% drop, according to a company-compiled poll. It said revenue grew 15.3% in Brazil as consumers drank more and purchased higher-priced beers.

• Carlyle Group Inc: The company said its third-quarter distributable earnings jumped nearly fivefold, driven by record asset sales mostly in its private equity portfolio. Distributable earnings reached a record $731 million, up from $152 million a year earlier. Carlyle reported after-tax distributable earnings per share of $1.54, which exceeded the average Wall Street analyst forecast of $1.02. Carlyle said it invested $6.3 billion to buy stakes in companies, including Texas-based software provider Abrigo and two subsidiaries of energy and environment firm Japan Asia Group. Carlyle reported net income under generally accepted accounting principles (GAAP) of $533 million, up 80% from a year ago, driven by growth in investment income. Total assets under management rose to a record $293 billion, up 6% from the prior quarter, owing to strong capital raising and fund appreciation. Unspent capital grew to $89 billion.

• Caterpillar Inc: The company's third-quarter adjusted profit rose, as construction demand and higher commodity prices boosted sales of heavy equipment across its businesses. Sales at Caterpillar's construction industries business, its largest unit, rose 30% to $5.26 billion in the third quarter ended Sept. 30. Adjusted profit rose to $2.66 per share from $1.52 per share a year earlier, when the pandemic hit sales. Total sales and revenue for the reported quarter rose 25% to $12.4 billion. The company, an industrial bellwether and proxy for global economic activity, has benefited from increased construction demand in North America and a rise in oil and commodity prices that is prompting customers to order more equipment as they ramp up production.

• Check Point Software Technologies Ltd: The Israel-based company beat estimates with a slight gain in third-quarter net profit, boosted by growth in its consolidated cyber security platform and cloud protection products. The company said it earned $1.65 per diluted share excluding one-off items in the July-September period, up from $1.64 a year earlier. Revenue grew 5% to $534 million, with the company on its way to top $2 billion for a second straight year in 2021. It was forecast to earn $1.60 a share on revenue of $530 million. Check Point said it bought back 2.64 million shares in the quarter, worth $325 million, as part of its share repurchase programme.

• Ebay Inc: The company on Wednesday projected holiday-quarter revenue below market expectations, another sign that the online shopping boom fueled by the pandemic was tapering as consumers returned to stores. The company was a big corporate winner in 2020 when lockdowns forced people to shop on its online marketplace, but growth has slowed since then as vaccinations encourage consumers to step out. EBay said it expected fourth-quarter revenue between $2.57 billion and $2.62 billion, well below analysts' average estimate of $2.65 billion. The company also reported a 5% decline in the number of active buyers on its marketplace in the third quarter. It earned 90 cents per share on an adjusted basis, a cent above estimates. For the current quarter, it expects adjusted profit between 97 cents and $1.01 per share.

• Ford Motor Co: The automaker on Wednesday reported a stronger-than-expected third-quarter profit and raised its full-year earnings forecast as strong demand for its trucks helped offset the hit from a global semiconductor shortage. Ford said increased availability of chips and higher wholesale vehicle shipments in the third quarter enabled it to post higher profit, revenue and cash flow from the previous quarter. The company announced it will restore a quarterly dividend, paying shareholders 10 cents a share or $400 million in total in the fourth quarter. Ford's net income was $1.8 billion, down from $2.4 billion a year earlier. Adjusted operating earnings were $3.0 billion, compared with $3.6 billion the previous year. Ford increased its guidance for full-year adjusted operating earnings to between $10.5 billion and $11.5 billion. Earnings per share were 45 cents, compared with 60 cents in the year-ago period.

• Linde PLC: The world's largest industrial gas company increased its 2021 earnings guidance for the third time, citing growth across all geographic segments and markets. The U.S.-German company, which supplies gases such as oxygen, nitrogen and hydrogen to factories and hospitals, now expects adjusted earnings per share (EPS) growth of 28% to 29% growth. The group said its new sustainability goals included a 35% reduction in absolute emissions by 2035 and becoming climate neutral by 2050. The company reported quarterly adjusted earnings per share up 27% at $2.73, against a $2.66 forecast from analysts. Linde has consistently beaten analysts' quarterly estimates over the past two years.

• Lloyds Banking Group PLC: Britain's biggest mortgage lender upgraded its outlook after posting better than expected quarterly profit in CEO Charlie Nunn's first set of earnings at the bellwether bank. The company posted pretax profit of 2 billion pounds for the July-September period, double the figure in the same period last year and better than analyst expectations for 1.3 billion pounds. The bank expects loan impairments to be a net credit for the year and its return on tangible equity - a key measure of profitability - to be more than 10%, up from 5-7% at the end of 2020. The bank’s core capital ratio – a measure of a bank’s financial strength – increased to 17.2%, well above its target of 12.5%. Costs for past misdeeds continued to dent profit, with the bank setting aside a further 100 million pounds for remediation charges, including compensation for victims of historic fraud at its HBOS Reading branch.

• Merck & Co Inc: The U.S. drugmaker reported a 55% rise in third-quarter profit, helped by strong sales of blockbuster cancer drug Keytruda and recovery in demand for its non-COVID-19 vaccines, as well as lower expenses. Sales of non-COVID-19 vaccines and physician-administered drugs have started to improve as hospitals and clinics adapt to the pandemic, helping Merck that gets two-thirds of its revenue from drugs that need to be administered at the doctor's office. Net income attributable to Merck rose to $4.57 billion, or $1.81 per share in the quarter, from $2.94 billion, or $1.16 per share a year ago. Sales of Gardasil, a vaccine to prevent cervical cancer due to human papillomavirus, rose nearly 68% to $1.99 billion, beating analysts' average estimate of $1.35 billion.

• Nokia Oyj: The Finland-based company reported a stronger-than-expected third-quarter operating profit on higher demand for 5G gear, but warned the global shortage of semiconductors would hit its supply chain. Nokia's quarterly net sales rose 2% to 5.4 billion euros from 5.3 billion a year ago, in line with analysts' expectations. The company expects comparable operating profit margin to be towards the upper end of the target range of 10% to 12%. Comparable operating profit during July-September surged to 633 million euros from 486 million last year, beating the 488 million euros forecast by 11 analysts. While its mainstay mobile network business suffered from lost business in the United States, network infrastructure grew 6% in constant currency and cloud and network services rose 12%.

• Northrop Grumman Corp: The U.S. defense contractor posted an 8% rise in quarterly profit, driven by strong demand in its fast-growing space unit, prompting the company to raise its full-year adjusted profit forecast. Northrop said it now expects full-year adjusted earnings per share of $25.20 to $25.60, up from its prior range of $24.40 to $24.80. However, the company flagged some labor-related and supply chain challenges stemming from the COVID-19 pandemic on its operations. The Falls Church, Virginia-based company's space unit, which makes satellites and missile systems, reported a 22% jump in sales to $2.68 billion for the third quarter. Net earnings rose to $1.06 billion, or $6.63 per share, in the quarter ending Sept. 30, from $986 million, or $5.89 per share, a year earlier. Total sales fell 4% to $8.72 billion.

• PetroChina Co Ltd: Asia's largest oil and gas producer reported a higher-than-expected net profit for the third quarter but still a 45% fall versus the record level a year earlier. The company's net income was 22.09 billion yuan, down from a record 40.05 billion yuan in the same period last year when the firm completed the spin-offs of its pipeline and storage facilities. The net earning compared with an analysts' estimate of 15.8 billion yuan. PetroChina also reported profit for the first nine months of 75.1 billion yuan, up more than seven fold from a year earlier owing to strong growth in oil and gas prices. Crude oil production during the January-September period fell 5.6% on the year to 662.3 million barrels, while gas output grew 6.5% to 3,281 billion cubic feet.

• Royal Dutch Shell PLC: Reporting third-quarter profit of $4.13 billion below an analyst forecast provided by the company of $5.31 billion, Shell set itself a tougher emissions-cutting targets for its direct emissions, aiming to halve them by 2030 in absolute terms. Activist hedge fund Third Point, which has built a large stake in Shell, on Wednesday called for the oil major to split into multiple companies to increase its performance and market value. Breaking up the oil major into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said. Gas and power prices surged this autumn as tight gas supplies have collided with strong demand in economies recovering from the COVID-19 pandemic. This helped Shell's cashflow from operations in the quarter to rise by around 54% on the year to $16 billion, which in turn helped it to reduce net debt to $57.5 billion, compared with $65.7 billion in the previous quarter.

• Sanofi SA: The French drugmaker Sanofi again raised its profit guidance for 2021 as its blockbuster eczema drug Dupixent and flu vaccines helped it beat market forecasts in the third quarter. The group, which is hoping for a comeback after losing ground in the COVID-19 jab race, said sales in the three months to September grew 10.1% to 10.4 billion euros while earnings per share came in at 2.18 euros. Sanofi now expects earnings per share to climb by around 14% at constant currencies this year, up from a previous, already improved estimate for 12% growth released in July. Despite being one of the biggest makers of vaccines in the world by sales before the COVID-19 pandemic, Sanofi was beaten by newcomers who used newer mRNA technology to immunise people against coronavirus.

• Sony Group Corp: The Japanese firm squeezed out a surprise 1% rise in operating profit for its second quarter though costs from growing sales of its PlayStation 5 (PS5) console pressed on margins. Weaker profitability in the key games segment could also not stop the group hiking its full-year operating forecast by 6% to 1 trillion yen from its August forecast, driven by expected profit growth in movies, music and electronics. Sony said it has sold a cumulative 13.4 million units PS5 units since launch last November. That contributed to a 27% year-on-year jump in sales at its gaming unit, though profit was less robust as the conglomerate sold hardware below cost. Sony reported group profit of 318.5 billion yen for July-September, beating the 222 billion yen average of six analyst estimates.

• Stellantis NV: The world's fourth largest automaker reported a 14% fall in third-quarter revenue on a pro-forma basis after semiconductor shortages cut planned quarterly production by 30%, or 600,000 vehicles. Stellantis, formed at the beginning of the year from the merger of Fiat Chrysler and France's PSA, confirmed its full-year target for an adjusted operating profit (EBIT) margin of around 10%. Revenue amounted to 32.55 billion euros in the third quarter, short of analyst expectations of 33.02 billion euros. Lower volumes more than offset an improved vehicle mix and positive net pricing - which accounted for 2.4 billion euros and 1.6 billion respectively of quarterly revenues - after recent vehicle launches, including electrified ones, the company said.

• STMicroelectronics NV: The Franco-Italian chipmaker expects high demand for the group's wide range of semiconductors to extend well into 2022, its chief executive said, reassuring markets after a plant closure in Malaysia hit production earmarked for the auto sector. The CEO said the group now expects to $1 billion in sales from such chips in 2024, a year earlier than initially scheduled. The company also raised its full-year sales target by $100 million to $12.6 billion after reporting an improved quarterly margin on the back of strong semiconductor demand. The group reported a gross margin of 41.6% for the July-September period, up from 40.5% in the previous quarter. Net sales over the period were about $3.2 billion, up 6.9% from the previous quarter and in line with its own expectations.

• Takeda Pharmaceutical Co: The Japanese drugmaker said half-year profit jumped and the company would buy back shares it viewed as undervalued. Operating profit rose 61% to 346 billion yen in the six months through Sept. 30 from a year ago, driven by strong sales of mainstay drugs, the company said. Takeda reiterated its full-year operating profit forecast at 488 billion yen. That compares with a consensus forecast of 509.2 billion yen. With some of its main brands due to lose patent protection in the coming years, Takeda is betting on a pipeline of more than 10 drugs in late-stage development.

• TotalEnergies SE: The French energy group said high gas prices in Europe and Asia could last into spring as the French energy group reported a sharp rise in third quarter earnings on surging power prices. The company's third-quarter adjusted net profit soared to $4.8 billion, from just $848 million last year, from core earnings that more than doubled to $11.2 billion. It said it should produce between 2.85 and 2.9 million barrels of oil equivalent per day (mboepd) in the last three months of 2021, after it reached 2.814 mboepd in the third quarter. Buoyed by high gas prices, TotalEnergies said its net investments this year should reach close to $13 billion, at the top of a range it announced earlier in the year.

• WPP PLC: The world's biggest advertising company raised its sales guidance again and said that much better than expected third-quarter trading showed a structural change to its growth rate, sending its shares up. WPP said its core metric, known as like-for-like revenue less pass-through costs, jumped 15.7% in the quarter, well ahead of forecasts of 9.5% and almost 7% up on its performance in the same quarter of pre-pandemic 2019. The British group raised its full-year outlook for growth to a range of 11.5% to 12%, up from the 9-10% increase it had announced in August. Chief Executive Mark Read told Reuters that the strength of demand - driven by clients in the United States, Britain and Germany - compared with its performance before the pandemic showed that this was much more than a cyclical recovery.

Deals of the Day
• Eastman Chemical Company: Polymer maker and supplier Synthomer PLC has agreed to buy U.S.-based Eastman's adhesive resins business for $1 billion as it looks to scale up its business, the British company said. To partly fund the cash deal, Synthomer is issuing shares to raise about 200 million pounds, the London-listed company said, adding that it would also be drawing a new $300 million debt facility. "The business is well-invested, with six manufacturing facilities, a highly skilled and experienced workforce and has a ... strong innovation pipeline which will deliver meaningful revenue growth over the next few years," Synthomer Chief Executive Calum MacLean said in a statement.

• FirstCash Inc: The Pawn store operator said it will acquire financial technology firm American First Finance Inc (AFF) in a $1.17 billion deal, to enter the buy-now-pay-later business. FirstCash is also looking to expand its footprint in the retail point-of-sale (POS) payments market, where AFF currently hosts over 6,500 merchant partner stores and e-commerce platforms across the United States. The cash-and-stock deal will also help FirstCash introduce flexible payment solutions in its pawn stores, it said. Under the agreement, AFF would receive up to $300 million more if it meets certain performance targets through the first half of 2023. As part of the deal, FirstCash will form a new parent company, which will assume FirstCash's listing on the Nasdaq and maintain the "FCFS" ticker symbol.

• Scientific Games Corp & Brookfield Asset Management Inc: Scientific Games said on Wednesday it would sell its global lottery business to Canadian investment company Brookfield for $6.05 billion, in a move that will help it cut debt and pivot to a gaming and digital content provider. The deal with the flagship unit of Brookfield Asset Management will consist of about $5.83 billion in cash and an additional payment of up to $225 million based on meeting certain profitability targets in 2022 and 2023. Brookfield said the deal would be funded with about $2.6 billion in equity, of which 30% will be raised through existing funds and the rest from its institutional partners.

IPOs
• GlobalFoundries Inc: The chipmaker said on Wednesday it sold shares in its initial public offering (IPO) at $47 a piece, at the higher end of its targeted price range, to raise about $2.6 billion. The IPO gives GlobalFoundries a valuation of about $26 billion, making it one of the biggest stock market flotations of the year in the United States. Abu Dhabi's sovereign wealth fund Mubadala Investment Co, which holds a majority stake in GlobalFoundries, sold 22 million shares in the IPO. Funds associated with BlackRock, Fidelity Management & Research Company, some affiliates of Koch Strategic Platforms, Columbia Management Investment Advisers and Qualcomm invested more than $1 billion in the IPO. GlobalFoundries will list its shares on Nasdaq under the ticker 'GFS'. Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup and Credit Suisse are the lead underwriters for the IPO.

Moves
• Citigroup Inc: The bank has appointed Matthew Nimtz and Jonathan Quek as co-heads of its banking, capital markets and advisory business for the Association of Southeast Asian Nations (ASEAN) region, according to a memo seen by Reuters. Nimtz currently heads mergers and acquistions (M&A) for ASEAN, the memo said. Quek is the co-head of real estate investment banking for Asia and the head of Singapore investoment banking, it said. They will replace David Biller who was recently appointed as the co-head for industrials for Europe, Middle East, Africa, Asia and Japan. Nimtz and Quek, who have worked together in Singapore for ten years, will also retain their current roles, the memo said.

In Other News
• Alibaba Group Holding Ltd, JD.com Inc & Pinduoduo Inc: China's Ministry of Industry and Information Technology (MIIT), a major industry regulator, has called on e-commerce sites to curb text-message marketing ahead of the country's annual Nov. 11 Singles' Day shopping festival. MIIT, in a social media post late on Wednesday, said it held a meeting on Oct. 25 with representatives from e-commerce companies Alibaba, JD.com, Meituan and Pinduoduo. It said it told the companies that vendors on their platforms often use loopholes to send text-message promotions to registered users without consent, in violation of consumer rights. Unsolicited online content is commonly known as spam. The regulator said it then called on the companies to "check and correct" text-message marketing activities and themselves refrain from sending text-message promotions without obtaining user consent.

• Alphabet Inc: An Australian regulator said it wants to make Google install a "choice screen" on smartphones so users can pick another search engine if they want, a step toward challenging the Alphabet unit's dominance of the search market. The Australian Competition and Consumer Commission (ACCC) also wants to limit Google's ability to pay Apple to have its search engine installed as the default option on the smartphone maker's devices, the regulator said in a report. The search engine report was part of the ACCC's wider examination of large internet companies, which led this year to laws making Google and social media giant Facebook pay media companies for content on their websites. A Google spokesperson said the company was reviewing the report and looked forward to discussing it with the ACCC and government.

• Apple Inc & Microsoft Corp: A surge in Microsoft's shares nearly unseated Apple as the world's most valuable company on Wednesday, a day before the iPhone maker reports its quarterly results. Fueled by strong quarterly growth in its Azure cloud-computing business, Microsoft's shares jumped 4.2% to end at a record $323.17, elevating the software maker's market capitalization to $2.426 trillion, just short of Apple's $2.461 trillion valuation. Apple's stock market value overtook Microsoft's in 2010 as the iPhone made it the world's premier consumer technology company. The two companies have taken turns as Wall Street's most valuable company in recent years, with Apple holding the title since mid-2020. Analysts on average expect Apple to report September-quarter revenue up 31% to $84.8 billion and adjusted earnings per share of $1.24.

• Citigroup Inc: The bank wants to pursue a banking license in Saudi Arabia to further boost its business in the kingdom by expanding into trade finance and treasury solutions, a senior executive said. Citi was awarded a Saudi capital markets licence in 2017, allowing it to return to the kingdom in 2018 after a 13-year absence. It advised Saudi Aramco on its $29.4 billion listing in 2019, in what was the world's biggest initial public offering, as well as on several sovereign and corporate bond deals. "We have seen significant growth during this time and we're still very interested in making further investments locally in the market," Ebru Pakcan, Citi's head of EMEA emerging markets business, told Reuters on the sidelines of Saudi Arabia's FII investment conference.

• Exxon Mobil Corp: Negotiators for Exxon and the United Steelworkers union (USW) met on Wednesday for a second day without coming to an agreement to end a six-month lockout of hundreds of workers at the company's Beaumont, Texas, refinery. The two sides discussed a proposal the union put forward in a meeting on Tuesday, said Bryan Gross, USW International representative. The union represents 585 hourly workers at the 369,000 barrel-per-day (bpd) refinery and lubricant oil plant. Exxon on Wednesday offered an additional paid holiday to its existing proposal while rejecting USW requests, the company said in a web posting. Another meeting is being scheduled, Exxon said. "Unfortunately, we are no closer to an agreement today than at any other point in the last nine months," Exxon said. The union also presented a proposed return-to-work agreement for when a deal is reached and the lockout ends, Exxon and USW Local 13-243 said.

• Johnson & Johnson & Emergent BioSolutions Inc: An estimated 30 million to 50 million doses of Johnson & Johnson's COVID-19 vaccine made early this year sits idle in Emergent BioSolutions's plant in Baltimore awaiting a green light from U.S. regulators to ship, two sources familiar with the matter said. Emergent, a contract drug manufacturer, is waiting for the U.S. Food and Drug Administration to approve release of those doses. The agency must still inspect and authorize the plant before Emergent can ship newly manufactured drug substance, one of the sources said. The exact number of doses sitting idle cannot be determined, the source said, because Emergent only makes raw vaccine substance and does not fill vials with finished product. Emergent has begun making new vaccine substance, but the FDA has yet to provide guidance on when it plans to inspect the Baltimore facility, one of the sources said.

• NRG Energy Inc: New York environmental regulators on Wednesday rejected permits to build two natural gas-fired power plants as the state focuses more on renewable projects and energy efficiency to meet its greenhouse gas reduction goals. The New York State Department of Environmental Conservation (DEC) denied air emissions permits for NRG Energy's proposed Astoria gas turbine project in the New York City borough of Queens, and Danskammer Energy LLC's proposed Danskammer repowering project in Newburgh on the Hudson River. In both cases, the DEC said: "Our review determined the proposed project does not demonstrate compliance with the requirements of the Climate Leadership and Community Protection Act." The 2019 act seeks to achieve 100% zero-emission electricity in the state by 2040.

• Starbucks Corp: With U.S. restaurants nationwide struggling to find enough waiters and cashiers to serve customers, Starbucks on Wednesday said it will give pay raises to workers in the United States with at least two years of employment and offer $200 referral bonuses. Workers with at least two years of employment could get up to a 5% raise and those with at least five years could receive a 10% pay boost in late January, Starbucks said. Average pay for all U.S. workers will range between $15 and $23 an hour, averaging nearly $17 an hour, by summer of 2022, the Seattle-based company said. The changes over the last two years will total $1 billion worth of investments in wages and benefits, it said.


SPECIAL REPORT
Trash and Burn: Big brands' new plastic waste plan
Some of the world’s biggest plastic polluters, including Unilever and Coca-Cola, are funding projects to send plastic trash to cement plants, where it is burned as cheap energy, Reuters has reported in detail for the first time.


ANALYSTS' RECOMMENDATION
• Ford Motor Co: Wells Fargo raises target price to $19 from $17, citing the company's higher-than-expected third-quarter profit.

• General Dynamics Corp: JP Morgan raises target price to $227 from $222, saying the company showed it was operationally sound across all segments in its third-quarter results and met expectations on what matters.

• Graphic Packaging Holding Co: RBC raises target price to $25 from $22, on continued robust demand and multiple growth drivers such as Kalamazoo startup, price actions, stabilizing raw material inflation, M&A benefits and ESG tailwinds.

• McDonald's Corp: MKM Partners raises target price to $275 from $270, after the company reported solid third-quarter results.

• Thermo Fisher Scientific Inc: SVB Leerink raises target price to $685 from $675, reflecting the company's strong third-quarter performance and saying the company is well positioned to drive a stronger outlook in the longer term.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 (approx.) GDP advance for Q3: Expected 2.7%; Prior 6.7%
0830 (approx.) GDP sales advance for Q3: Prior 8.1%
0830 (approx.) GDP consumer spending advance for Q3: Prior 12.0%
0830 (approx.) GDP deflator advance for Q3: Expected 5.5%; Prior 6.2%
0830 (approx.) Core PCE prices advance for Q3: Expected 4.5%; Prior 6.1%
0830 (approx.) PCE prices advance for Q3: Prior 6.5%
0830 Initial jobless claims: Expected 290,000; Prior 290,000
0830 Jobless claims 4-week average: Prior 319,750
0830 Continued jobless claims: Expected 2.415 mln; Prior 2.481 mln
1000 Pending Homes Index for Sept: Prior 119.5
1000 Pending sales change mm for Sept: Expected 0.0%; Prior 8.1%
1100 (approx.) KC Fed Manufacturing for Oct: Prior 10
1100 (approx.) KC Fed Composite Index for Oct: Prior 22


COMPANIES REPORTING RESULTS
Amazon.com Inc: Expected Q3 earnings of $8.92 per share
American Electric Power Company Inc: Expected Q3 earnings of $1.46 per share
American Tower Corp: Expected Q3 earnings of $1.20 per share
Apple Inc: Expected Q4 earnings of $1.24 per share
Arthur J Gallagher & Co: Expected Q3 earnings of $1.21 per share
Baxter International Inc: Expected Q3 earnings of 94 cents per share
Bio Rad Laboratories Inc: Expected Q3 earnings of $2.44 per share
Carrier Global Corp: Expected Q3 earnings of 66 cents per share
CBRE Group Inc: Expected Q3 earnings of $1.19 per share
CMS Energy Corp: Expected Q3 earnings of 54 cents per share
DaVita Inc: Expected Q3 earnings of $2.25 per share
Dexcom Inc: Expected Q3 earnings of 64 cents per share
Eastman Chemical Co: Expected Q3 earnings of $2.46 per share
FirstEnergy Corp: Expected Q3 earnings of 79 cents per share
Fortive Corp: Expected Q3 earnings of 65 cents per share
Gilead Sciences Inc: Expected Q3 earnings of $1.74 per share
Hartford Financial Services Group Inc: Expected Q3 earnings of 86 cents per share
Illinois Tool Works Inc: Expected Q3 earnings of $2.01 per share
Intercontinental Exchange Inc: Expected Q3 earnings of $1.22 per share
Mastercard Inc: Expected Q3 earnings of $2.19 per share
Mohawk Industries Inc: Expected Q3 earnings of $3.81 per share
Molson Coors Beverage Co: Expected Q3 earnings of $1.53 per share
Monolithic Power Systems Inc: Expected Q3 earnings of $2.00 per share
Republic Services Inc: Expected Q3 earnings of $1.05 per share
Resmed Inc: Expected Q1 earnings of $1.36 per share
Starbucks Corp: Expected Q4 earnings of 99 cents per share
Stryker Corp: Expected Q3 earnings of $2.28 per share
T Rowe Price Group Inc: Expected Q3 earnings of $3.30 per share
Verisign Inc: Expected Q3 earnings of $1.37 per share
Western Digital Corp: Expected Q1 earnings of $2.45 per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 ABIOMED Inc: Q2 earnings conference call
0800 Avient Corp: Q3 earnings conference call
0800 Catalent Inc: Annual Shareholders Meeting
0800 CLARIVATE PLC: Q3 earnings conference call
0800 Keurig Dr Pepper Inc: Q3 earnings conference call
0800 LKQ Corp: Q3 earnings conference call
0800 Merck & Co Inc: Q3 earnings conference call
0800 Molina Healthcare Inc: Q3 earnings conference call
0800 Nielsen Holdings PLC: Q3 earnings conference call
0800 PPD Inc: Q3 earnings conference call
0800 Sirius XM Holdings Inc: Q3 earnings conference call
0800 Stanley Black & Decker Inc: Q3 earnings conference call
0800 Teleflex Inc: Q3 earnings conference call
0800 Tempur Sealy International Inc: Q3 earnings conference call
0800 Textron Inc: Q3 earnings conference call
0815 Raymond James Financial Inc: Q4 earnings conference call
0815 Yum! Brands Inc: Q3 earnings conference call
0830 Allegro Microsystems Inc: Q2 earnings conference call
0830 Alnylam Pharmaceuticals Inc: Q3 earnings conference call
0830 American Tower Corp: Q3 earnings conference call
0830 Baxter International Inc: Q3 earnings conference call
0830 Blueprint Medicines Corp: Q3 earnings conference call
0830 CACI International Inc: Q1 earnings conference call
0830 Carlyle Group Inc: Q3 earnings conference call
0830 Carrier Global Corp: Q3 earnings conference call
0830 Caterpillar Inc: Q3 earnings conference call
0830 CBRE Group Inc: Q3 earnings conference call
0830 Comcast Corp: Q3 earnings conference call
0830 Eagle Materials Inc: Q2 earnings conference call
0830 Element Solutions Inc: Q3 earnings conference call
0830 Hershey Co: Q3 earnings conference call
0830 Intercontinental Exchange Inc: Q3 earnings conference call
0830 KBR Inc: Q3 earnings conference call
0830 MKS Instruments Inc: Q3 earnings conference call
0830 MSA Safety Inc: Q3 earnings conference call
0830 Repligen Corp: Q3 earnings conference call
0830 Sunnova Energy International Inc: Q3 earnings conference call
0830 Wyndham Hotels & Resorts Inc: Q3 earnings conference call
0900 Aflac Inc: Q3 earnings conference call
0900 Altria Group Inc: Q3 earnings conference call
0900 American Electric Power Company Inc: Q3 earnings conference call
0900 Annaly Capital Management Inc: Q3 earnings conference call
0900 Ardagh Metal Packaging SA: Q3 earnings conference call
0900 Bio-Techne Corp: Annual Shareholders Meeting
0900 ChampionX Corp: Q3 earnings conference call
0900 Churchill Downs Inc: Q3 earnings conference call
0900 FTI Consulting Inc: Q3 earnings conference call
0900 Laboratory Corporation of America Holdings: Q3 earnings conference call
0900 Mastercard Inc: Q3 earnings conference call
0900 Northrop Grumman Corp: Q3 earnings conference call
0900 Pilgrims Pride Corp: Q3 earnings conference call
0900 Selective Insurance Group Inc: Q3 earnings conference call
0900 Service Corporation International: Q3 earnings conference call
0900 West Pharmaceutical Services Inc: Q3 earnings conference call
0930 AllianceBernstein Holding LP: Q3 earnings conference call
0930 CMS Energy Corp: Q3 earnings conference call
0930 nVent Electric PLC: Q3 earnings conference call
0930 Oshkosh Corp: Q4 earnings conference call
0930 Tradeweb Markets Inc: Q3 earnings conference call
1000 A O Smith Corp: Q3 earnings conference call
1000 AGCO Corp: Q3 earnings conference call
1000 Encompass Health Corp: Q3 earnings conference call
1000 EQT Corp: Q3 earnings conference call
1000 Hanover Insurance Group Inc: Q3 earnings conference call
1000 Huntington Bancshares Inc: Q3 earnings conference call
1000 Illinois Tool Works Inc: Q3 earnings conference call
1000 John Bean Technologies Corp: Q3 earnings conference call
1000 Lincoln Electric Holdings Inc: Q3 earnings conference call
1000 Linde PLC: Q3 earnings conference call
1000 Mid-America Apartment Communities Inc: Q3 earnings conference call
1000 Newmont Corporation: Q3 earnings conference call
1000 Saia Inc: Q3 earnings conference call
1000 SouthState Corp: Q3 earnings conference call
1000 Tyler Technologies Inc: Q3 earnings conference call
1000 VICI Properties Inc: Q3 earnings conference call
1000 WEX Inc: Q3 earnings conference call
1000 Xcel Energy Inc: Q3 earnings conference call
1030 EMCOR Group Inc: Q3 earnings conference call
1100 Antero Resources Corp: Q3 earnings conference call
1100 Brunswick Corp: Q3 earnings conference call
1100 Cincinnati Financial Corp: Q3 earnings conference call
1100 CyrusOne Inc: Q3 earnings conference call
1100 Flowserve Corp: Q3 earnings conference call
1100 Invitation Homes Inc: Q3 earnings conference call
1100 Molson Coors Beverage Co: Q3 earnings conference call
1100 O'Reilly Automotive Inc: Q3 earnings conference call
1100 Reliance Steel & Aluminum Co: Q3 earnings conference call
1100 United Rentals Inc: Q3 earnings conference call
1100 Valley National Bancorp: Q3 earnings conference call
1130 Moody's Corp: Q3 earnings conference call
1200 Antero Midstream Corp: Q3 earnings conference call
1200 CoreSite Realty Corp: Q3 earnings conference call
1300 Avalonbay Communities Inc: Q3 earnings conference call
1300 Extra Space Storage Inc: Q3 earnings conference call
1300 Kilroy Realty Corp: Q3 earnings conference call
1400 Cullen/Frost Bankers Inc: Q3 earnings conference call
1500 Duke Realty Corp: Q3 earnings conference call
1500 Old Republic International Corp: Q3 earnings conference call
1630 Deckers Outdoor Corp: Q2 earnings conference call
1630 DexCom Inc: Q3 earnings conference call
1630 Exponent Inc: Q3 earnings conference call
1630 Gilead Sciences Inc: Q3 earnings conference call
1630 Idacorp Inc: Q3 earnings conference call
1630 Power Integrations Inc: Q3 earnings conference call
1630 Resmed Inc: Q1 earnings conference call
1630 Seagen Inc: Q3 earnings conference call
1630 Skechers USA Inc: Q3 earnings conference call
1630 SPS Commerce Inc: Q3 earnings conference call
1630 Stryker Corp: Q3 earnings conference call
1630 Verisign Inc: Q3 earnings conference call
1630 Western Digital Corp: Q1 earnings conference call
1700 Apple Inc: Q4 earnings conference call
1700 Bio Rad Laboratories Inc: Q3 earnings conference call
1700 Columbia Sportswear Co: Q3 earnings conference call
1700 DaVita Inc: Q3 earnings conference call
1700 Houlihan Lokey Inc: Q2 earnings conference call
1700 LPL Financial Holdings Inc: Q3 earnings conference call
1700 MicroStrategy Inc: Q3 earnings conference call
1700 Monolithic Power Systems Inc: Q3 earnings conference call
1700 National Instruments Corp: Q3 earnings conference call
1700 Republic Services Inc: Q3 earnings conference call
1700 SS&C Technologies Holdings Inc: Q3 earnings conference call
1700 Starbucks Corp: Q4 earnings conference call
1700 Texas Roadhouse Inc: Q3 earnings conference call
1700 Zendesk Inc: Q3 earnings conference call
1715 Arthur J Gallagher & Co: Q3 earnings conference call
1730 Amazon.com Inc: Q3 earnings conference call
1730 Fortive Corp: Q3 earnings conference call


EX-DIVIDENDS
A O Smith Corp: Amount $0.28
AGNC Investment Corp: Amount $0.12
Agree Realty Corp: Amount $0.22
Alcoa Corp: Amount $0.10
Carrier Global Corp: Amount $0.12
Citizens Financial Group Inc: Amount $0.39
Costco Wholesale Corp: Amount $0.79
Levi Strauss & Co: Amount $0.08
Morgan Stanley: Amount $0.70
National Retail Properties Inc: Amount $0.53
NiSource Inc: Amount $0.22
SL Green Realty Corp: Amount $0.30
STAG Industrial Inc: Amount $0.12
Targa Resources Corp: Amount $0.10
Unum Group: Amount $0.30
Zoetis Inc: Amount $0.25

Goedemorgen,

De markt moet een stapje terug deze keer al hebben we wel een bewogen sessie gezien, bij enkele indices werden de records wel nog aangescherpt maar later sluiten vrijwel alle indices met verlies. Zo moesten de Dow Jones, de Dow Transport, de DAX en de AEX wat inleveren terwijl de Nasdaq nog net in de plus kon sluiten al was dat te verwaarlozen. Ook de SOX moest terug tot het 50-daags gemiddelde door winstnemingen. Vanmorgen zien we via de futures al herstel, het is wachten op Apple en Amazon vanavond nabeurs wanneer beiden met cijfers komen.

Update donderdag 28 oktober:
Wall Street moet wat inleveren al bleef de Nasdaq nog net in de plus op slotbasis, een sessie zonder records deze keer. Ook Europa lukte Het is nu wachten op de andere 2 grote bedrijven Apple en Amazon die vanavond met hun kwartaalcijfers komen. De reactie op de andere grote spelers was sterk, gisteren kon Microsoft 4% omhoog terwijl ook Alphabet 4%. hoger wist te geraken. En dan Tesla nog, het aandeel staat sinds de cijfers al zo'n 18% hoger en behoort nu ook tot de meer dan 1000 miljard aan beurswaarde club.

Europa kende een mindere sessie met wat verlies, de AEX onderbreekt de recordreeks en verloor 1,6 punten terwijl de DAX met 51 punten terug moest. De Franse CAC 40 verloor 13 punten. Allemaal niet zo bijzonder en dus een soort pas op de plaats.

Vandaag maar weer even rustig afwachten, ik hoef niet zo snel wat te doen en zeker niet nu er nabeurs nog 2 grote spelers met cijfers komen. Zie het maar net als de afgelopen 2 sessies, er kon van alles worden gedaan maar we hadden er niks mee opgeschoten aangezien de indices niet doorstoten omhoog maar ook niet duidelijk omlaag bewegen. Er komen vandaag ook nog heel wat bedrijven met cijfers waaronder Caterpillar, Mastercard, Comcast en nabeurs Apple en Amazon.

Naast de kwartaalcijfers die over het algemeen goed vallen tot nu toe zitten we in een periode waar het verloopt van de markt vaak positief is, tussen de start van de 3e kwartaalcijfers tot rond Thanksgiving (25 november) verloopt de markt 9 van de 10 keer positief. Dat is uiteraard geen zekerheid maar nu de indices dicht bij of al door hun hoogste stand ooit uitkomen zit een vervolg van de rally er nog in de komende weken. Maar nogmaals, enige voorzichtigheid is nu belangrijk.

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Zoeken naar kansen ofwel een goed momentum:
Ik blijf uiteraard zoeken naar kansen maar we moeten opletten en wachten op een correct momentum, waar het kan zal ik instappen en dat laat ik de leden op tijd weten. Bij een DIP zou ik weer wat nieuwe long posities kunnen opnemen maar wel pas als er zich een mooi momentum voordoet. Als ik instap moeten we wel een tijdje kunnen blijven zitten.

Schrijf u nu in via de nieuwe aanbieding tot 1 JANUARI voor €35. Ga meteen naar onze tradershop via de link https://www.usmarkets.nl/trade...

Marktoverzicht:
Via het marktoverzicht zien we de pullback ofwel de winstnemingen, de AEX blijft wel dicht bij de topzone. en de DAX beperkt de daling. Opvallend is dat de Nasdaq met 2 hele sterke sessies na elkaar komt maar die niet kon vasthouden, de intentie omhoog is er wel maar het lukt nog niet om rond het record te sluiten. De SOX sluit dan weer 1% lager, de Dow Jones liet het ook even afweten. De vraag is nu of het winstnemingen zijn of maakt de markt een draai omlaag voor een langere periode? We moeten nog altijd opletten in deze fase ook al lijkt het erop dat het om een DIP gaat.

Dow Jones:
De Dow Jones moet inleveren en op zich nog redelijk wat aangezien de index de oude topzone test zoals u kunt zien op de grafiek. De index sluit wel op de laagste stand van de sessie en het grootste verlies kwam er tijdens het laatste uur. Vandaag maar bekijken of de index zich kan herpakken, vanaf de steun zou dat heel goed kunnen.

Weerstand nu blijft de top van woensdag rond de 35.900 punten, bij een verdere stijging rond de 36.000 punten weerstand. Later kan de index tot de 36.250 en de 36.500 punten oplopen waar ik de volgende richtpunten zie uitkomen.

Steun nu eerst de 34.450-34.500 punten ofwel de eerdere toppen van augustus, later zien we rond de 35.250-35.300 punten steun met snel daaronder de 35.000 punten. Pas onder die 35.000 punten kan het sentiment omslaan, we bekijken dan ook eerst de aangegeven niveaus.

AEX index:
De AEX moet even een klein stapje terug na een reeks van records, veel is het niet dus aan het verloop zien we weinig verandering. Een rally richting de 840-850 punten zit er nog altijd in na de uitbraak van vorige week. Wel zien we eerst nog weerstand rond de 820-825 punten en de 835 punten voor dat de index door kan stoten richting de zone 840-850 punten.

Steun zien we nu eerst rond de 812 en later rond de 805 punten, later de zone 800-802 punten. Pas als de AEX weer onder de 800 punten zakt moeten we rekening gaan houden met de steun rond de 790-792 punten met daaronder vooral de 780-782 punten en de zone 770-771 punten.

DAX index:
De DAX zet nu echt door boven de 15.500 punten en laat het 50-daags gemiddelde ruim achter zich op slotbasis. De index sluit rond de 15.700 punten en de weg tot de 15.810 punten weerstand blijft open liggen. Wat er na het bereiken van deze toch zware weerstand zal gebeuren moeten we afwachten, daarna ligt de weg open richting het record dat rond de 16.000 punten uitkomt.

Steun nu eerst de 15.600 punten, later de 15.500 en de 15.300 punten als steun. We zien uiteraard ook het 200-daags gemiddelde als steun rond de 15.140 punten.

Nasdaq Composite:
De Nasdaq begon opnieuw heel sterk maar moest opnieuw alles inleveren later op de avond, de cijfers van Microsoft en Alphabet vielen wel goed en daar lag het niet aan want beide aandelen wonnen 4%. De index kon nog net in de plus eindigen na eerst 130 punten hoger te hebben gestaan en zo bijna weer het record wist te bereiken. Zoals ik al aangaf zien we de DIP nu tijdens de sessie en dat kan ervoor zorgen dat die al grotendeels is geweest. We moeten de komende dagen afwachten, komt er alsnog een aanval op het record?

Weerstand zien we nu eerst rond de 15.400 punten, later bij een uitbraakt rond de 15.500 en de 15.650 punten weerstand. Steun zien we nu eerst rond de 15.200 punten, later rond de 15.000 punten met daaronder de 14.800 en de 14.650 punten.

Overzicht resultaat deze maand oktober en dit jaar (2021):
We blijven voorzichtig, er werd al 2 keer winst genomen op de posities deze maand tijdens de opleving. Later kies ik weer een momentum om in te stappen, dat kan zowel long of short worden, eerst maar eens bekijken wat de markt zal doen de komende sessies. Er komen zeker nog kansen maar het momentum moet dus goed zijn, tot nu toe kan ik weinig doen door dat de markt niveaus bereikt die nog niet aangeven welke kant het zal opgaan. De cijfers van de grote 5 zullen het verdere verloop grotendeels bepalen.

Om mee te doen kan dat via het nieuwe proefabonnement tot 1 januari en voor €35. Schrijf u nu in via de nieuwe aanbieding en ga meteen naar onze tradershop via de link https://www.usmarkets.nl/trade...

Overzicht resultaten oktober en dit jaar (2021)

Met vriendelijke groet,
Guy Boscart

Beste beleggers,

Deze maand (oktober) verloopt goed en zonder dat we teveel hebben moeten handelen, we staan in ieder geval op een mooie winst deze maand en bekeken over het gehele jaar zitten we mooi voor op schema om er een prima jaar van te maken. De laatste posities die werden gesloten brachten een mooie winst op, het voorop gezette plan kwam dan ook uit, na de DIP werden er wat kleine LONG posities opgenomen die het goed hebben gedaan en zo voor de extra winst hebben gezorgd. Bij Systeem Trading staan we voor deze maand oktober op €526 winst en het totaal voor dit jaar komt nu uit op €3981. We doen rustig verder en nog altijd met kleine posities omdat het risico door de hogere volatiliteit blijft.

Ook de andere abonnementen staan op een mooie winst dit jaar, bij Guy Trading is dat deze maand €1229 en voor dit jaar staan we op €8014 winst. Bij Guy Trading zat er naast de Nasdaq ook een LONG positie bij op ASML en de Dow Jones.

Even een pas op de plaats nu want er lopen nu geen posities, ik zoek rustig naar een nieuw momentum om in te stappen en dat kan ofwel weer long worden bij wat winstnemingen of mocht de markt ver doorschieten kan ik een short positie overwegen. Zo ver is het nog niet, eerst een nieuw momentum afwachten en vooral niet zomaar inzetten op een reeks kwartaalcijfers die de markt in beweging kunnen brengen.

Meedoen kan nu tot 1 JANUARI voor €35 via de aanbieding, inschrijven kan via de link https://www.usmarkets.nl/tradershop en dan staat u snel op onze ledenlijst ...

U ontvangt dan:
De signalen per mail en SMS
U krijgt toegang tot onze Tradershop
We sturen elke morgen voorbeurs een uitgebreide update
U krijgt toegang tot het leden forum op de website
Waar nodig stuur ik ook extra updates met de te volgen strategie

Overzicht resultaat deze maand (oktober) en het totaal over geheel 2021:

Met vriendelijke groet,
Guy Boscart