U.S. stocks fought off a late-session swoon to close at fresh heights Tuesday, amid reports that the Federal Trade Commission is looking into acquisitions by some of the country’s biggest tech companies.
The S&P 500 Index faded from session highs after the FTC news, with Facebook Inc. and Microsoft Corp. among the decliners. Health-care and consumer-discretionary shares led the day’s advancers. The Dow Jones Industrial Average and Nasdaq 100 were little changed. Ten-year Treasury yields rose, while the dollar dropped for the first time in five sessions.
Investors have been more bullish lately despite the coronavirus outbreak, signaling some confidence that central banks could ease policy in the event growth slows down. In remarks to Congress Tuesday, Federal Reserve Chairman Jerome Powell, while positive about the American economic outlook, said the central bank is keeping a close eye on fallout from the epidemic, which continues to disrupt travel and trade.
US After Hours BBBY -26% down sharply on weak holiday results; NSP -18% showing notable weakness on earnings; LYFT -5.4% also lower; AKAM among the few bright spots on earnings
Macro :
- Lazard Stays Overweight Emerging-Market Bonds Despite Virus (1)
- SocGen Expects Global Stocks to End 2020 on More Positive Note
Keep an eye on :
- ABN NA : ABN Amro Fourth Quarter Net Income Misses Lowest Estimate (1)
- AD NA : Ahold Delhaize Fourth Quarter Underlying EPS Beats Estimates
- ADE NO : Adevinta Fourth Quarter Operating Revenue Meets Estimates
- AIR FP : Thai Air Force Orders Six Airbus Military Training Helicopters
- AKZA NA : Akzo Nobel Sees 2020 Adj. Oper Margin 14.5% To 15.5%, Saw 15%
- AMS SW : AMS Offering Prices 3.35m Shares at CHF44.25/Share
- ATL IM : Autostrade CEO Seeks Rational Concession Deal With Govt: Stampa
- AXA NO : Axactor SE Fourth Quarter Net Income Beats Estimates
- BG AV : Bawag Meets FY Estimates, Narrows CET1 Goal to 13% Vs Range (1)
- BB FP : BIC Sees 2020 Normalized Ifo Margin 16% To 17%
- BMPS IM : Italy Seeks Banking Partner for Monte Paschi: Messaggero
- COOR SS : Coor Fourth Quarter Net Sales SEK2.73 Bln
- DB1 GY : Deutsche Boerse to Extend CEO Term by 3 Years: Manager Magazin
- EDF FP : EDF Buys 50% of Codling Offshore Wind Project in Ireland
- EVO SS : Evolution Gaming Sees 2020 Margin At or Slightly Over 2019 Level
- HEIA NA : Heineken Full Year Org. Beer Volume Beats Estimates (1)
- HEIA NA : Heineken CEO Exits on High Note as Earnings Beat Estimates
- HOFI SS : Hoist Finance Fourth Quarter Operating Income SEK768 Mln
- JEN GY : Jenoptik Full Year Revenue Meets Estimates
- KER FP : Gucci’s Sales Growth Slowed Down Less Than Expected at Year-End
- KLOVB SS : Klovern Full Year Dividend Per Share Beats Estimates
- KOG NO : Kongsberg Proposes Shareholder Returns Worth 10% of Market Value
- KVAER NO : Kvaerner Fourth Quarter Net Income Misses Lowest Estimate
- NETB SS : NetEnt Full Year Dividend Per Share Misses Lowest Estimate
- NOEJ GY : Norma Full Year Adjusted Ebita Margin Misses Estimates
- ONXEO FP : Onxeo in Settlement Pact With SpePharm, SpeBio
- ORP FP : Orpea Sees 2020 Revenue +8%
- OTE1V FH : Outotec Wins EU13m Order for Process Equipment in Cambodia
- RUI FP : Rubis Full Year Revenue 2.0% Below Estimates
- SAN FP : Sanofi Slims Ranks of Top Executives as New CEO Revamps Strategy
- STR AV : Strabag Prelim Full Year Output Volume EU16.6 Bln
- STB NO : Storebrand Fourth Quarter Net Income 1.7% Below Estimates
- SWECB SS : Sweco Full Year Dividend Per Share Beats Estimates
- TNET BB : Telenet, DPG Media Plan Streaming Service JV
- TRELB SS : Trelleborg Sees First Quarter Demand ‘Somewhat Lower’ Q/Q
- THULE SS : Thule Full Year Dividend Per Share Misses Estimate
- VONN SW : Vontobel Full Year Net New Money Beats Estimates
- VPK NA : Vopak Full Year Adjusted Ebit 3.3% Below Estimates
>>> Up
* Air Liquide PT Raised to 160 euros at Deutsche Bank
* Close Brothers Raised to Neutral at Citi
* Enagas Raised to Outperform at Mediobanca SpA; PT 26.50 euros
* Enagas Raised to Neutral at Goldman; PT 25 euros
* Finnair Raised to Accumulate at OP Corporate Bank
* Greencore Group Raised to Buy at Berenberg; PT 285 pence
* Harvia Raised to Hold at Handelsbanken; PT 11 euros
* Iberdrola Raised to Outperform at RBC; PT 11.30 euros
* Intesa Sanpaolo Raised to Add at AlphaValue
* M6 Raised to Overweight at JPMorgan; PT 20 euros
* Shell Raised to Buy at HSBC; PT 2,393.35 pence
* Shell ADRs Raised to Buy at HSBC; PT $63.20
* Smith & Nephew PT Raised to 2,325 pence at Berenberg
* Tethys Oil Raised to Buy at SpareBank; PT 83 kronor
* Valeo Raised to Equal-Weight at Morgan Stanley; PT 28 euros
* Veidekke Raised to Buy at Handelsbanken; PT 140 kroner
* Virgin Money UK Raised to Buy at Citi
>>> Down
* Ahlstrom-Munksjo Cut to Hold at SEB Equities; PT 15 euros
* Aker Solutions Cut to Hold at Arctic Securities; PT 18 kroner
* Clinigen Cut to Sell at Liberum
* Enav Cut to Neutral at Mediobanca SpA; PT 6 euros
* Isra Vision Cut to Sell at Hauck & Aufhaeuser
* Kemira Oyj Cut to Sell at Handelsbanken; PT 12 euros
* Umicore Cut to Neutral at JPMorgan; PT 42 euros
* Zardoya Cut to Add at AlphaValue
>>> Initiation
* AB Foods Rated New Outperform at Bernstein; PT 3,125 pence
* Asos Rated New Underperform at Bernstein; PT 2,750 pence
* Boohoo Rated New Market Perform at Bernstein; PT 330 pence
* H&M Rated New Underperform at Bernstein; PT 170 kronor
* Inditex Rated New Market Perform at Bernstein; PT 33.25 euros
* Next Rated New Market Perform at Bernstein; PT 7,000 pence
* Sanne Group Rated New Buy at Jefferies; PT 735 pence
* Zalando Rated New Outperform at Bernstein; PT 53.30 euros
>>> Call
* Air Liquide Gets Street-High Price Target at Deutsche Bank
* Babcock Broadly in Line But Divisions Mixed, Jefferies Says
* Kone, Schindler at Risk from Virus, Buy Luceco: Liberum
* Liberum Says This May Be a ‘Golden Age’ for U.K. Infrastructure
* Smith & Nephew Gets Street-High PT on Earnings Path: Berenberg
* Valeo Has Valuation Support, Up to Equal-Weight: Morgan Stanley
* X-Fab Silicon’s Recovery Has Begun, Outlook Strong: Berenberg
- Equinor (DNQ TH) +1.3%
- Shell (R6C TH) +0.9%
- Shell ADRs Raised to Buy at HSBC; PT $63.20
- Metro AG (B4B TH) +0.8%
- Wirecard (WDI TH) +0.7%
- ABN AMRO (AB2 TH) -1.4%
- ABN Amro Weighed Down by Costs, Writedowns as Legal Probes Loom
DAX:
- Daimler (DAI TH) +0.8%
- Wirecard (WDI TH) +0.8%
MDAX:
- Varta (VAR1 TH) +1.5%
- Telefonica Deutschland (O2D TH) +1.2%
- ProSieben (PSM TH) +1.1%
- Metro AG (B4B TH) +0.9%
- TeamViewer (1UD TH) +0.8%
- K+S (SDF TH) -0.7%
- AQR Boosts Short Position in K+S to 1.11%
SDAX:
- Deutz (DEZ TH) +1%
- Jenoptik (JEN TH) -3.3%
- Jenoptik Full Year Revenue Meets Estimates