Analytics, 04 December 2019
Daily comment Dec 4
- Wall St opens higher on fresh trade hopes
- UK set to introduce digital services tax
- Google co-founders step down from Alphabet
- CRM -1.6% on mixed 4Q outlook
- MA authorized $8bn shares repurchase
- WTI +1.6%
Corporate news:
- Amazon (+0.3%) unveiled its new Graviton2 chip based on Arm’s new Neoverse N1 architecture which should result in a significant performance increase. (https://amzn.to/2rVlo0S)
- Alphabet (+1.3%): Google co-founders Larry Page and Sergei Brin are stepping down from their executive roles. Sundar Pichai will now be CEO of both Google and Alphabet. (https://bit.ly/33PVY20)
- Salesforce (-1.6%): The Co. reported 3Q EPS beat, provided mixed guidance. 3Q Rev. +33% y/y to $4.5bn vs est. $3.9bn. Adj. EPS was $0.75 vs est. $0.66. Sees 4Q rev. of $16.99bn-$17bn vs est. $16.9.; EPS of $0.54-$0.55. (https://sforce.co/2Rh5EzY)
- MasterCard (+1%) increased its dividend by 21% and the board authorized a new $8bn buyback program. (https://mstr.cd/2Lo5O4O)
__Macro: __
- The US and China are reportedly “moving closer” to preliminary deal. According to sources, the deal is expected to be reached before 15 Dec. (https://bloom.bg/2DJjl2L)
- UK PM Johnson announced he would go ahead with imposition of digital services tax after the US threatened to punish France for similar measures. (https://on.ft.com/33PEzXs)
Commodities:
- WTI (+1.6%): Oil futures advanced ahead of OPEC meeting.
- Iraq is pushing OPEC+ for increase of production cuts by 400k to 1.6mn bpd. Saudi Arabia and UAE didn’t comment the proposal. (https://bloom.bg/384tPrt)
Coming up:
- On (12/5-12/6): OPEC meeting in Vienna