Analytics, 11 November 2019
Daily comment Nov 11
- Wall St opens lower amid political and trade tensions
- Hong-Kong violent protests continue
- BABA set to post the record Singles Day sales
- AAPL -0.6%, GS -0.9% on Apple card criticism
- TSLA +2.7% on Shanghai Model 3s release
- WBA +5.8% on takeover offer
- WTI -1.1%
Market movers:
- Alibaba (-2.6%): Singles day sales have already topped the last year total of $30.8bn with $33bn over the first 11 hours of sales. (https://bit.ly/34QHtvO)
- Goldman Sachs (-0.9%) has been accused for gender discrimination on credit limit for Apple Card. (https://cnb.cx/2X1Ygte)
- Tesla (+2.7%): The carmaker unveiled its first Model 3s built in China. (https://bloom.bg/32DsPGG) Separately, Jefferies raised TSLA PT by ~33% to $400, citing gross margin levels that are consistent with sustained profitability.
- Walgreens (+5.8%): According to Bloomberg, KKR approached the company with a buy-out offer. (https://bloom.bg/2X25jCc)
Macro:
- President Trump affirmed the US-China trade talks are going well. He also added that China wants a deal more than the US. (https://bloom.bg/2pS1zqX)
- The Shanghai Composite Index dropped -1.83% amid ongoing protests in Hong Kong. (https://bloom.bg/33zOl0A)
Commodities:
- WTI (-1.1%): Hedge fund’ WTI net-long position rose 11% to 116.4k contracts in the week ended Nov. 5: (Bloomberg)
- Saudi Aramco released its IPO prospect; however, the final share price will be disclosed on 5 Dec. The co. also sees oil demand outlook reaching the peak during the next 20 years. (https://bloom.bg/2Q9UdcW)
- Iran discovered an oil field containing ~ 53bn boe. (Bloomberg)