Daily comment Dec 13

Analytics, 13 December 2019

Corporate news:

Adobe (+3.8%) reported 4Q beats with revenue up 21% y/y to a record $2.99bn. Subscription rev. was $2.69bn vs est. $2.7bn and product rev. was $161.1mn vs est. $153.1mn. Adj. EPS is estimated at $9.75 vs est. $9.76. Sees FY20 rev. of $13.15bn vs est. $13.14bn. https://adobe.ly/2qNUwjj
Broadcom (-3.7%) reported 4Q beat with upside FY20 guidance. Revenue +6.3% y/y to $5.78bn beats by $40mn. Adj. EPS of $5.39 beats by $0.04. Declared $3.25/sh dividend, 22.6% increase from prior dividend of $2.65. https://bit.ly/2RUPpc6
Microsoft (+0.2%) unveiled its new game console the Xbox Series X with the first sales taking place in the 2020 holiday period. https://bloom.bg/2PhtOZH
Intel (+0.1%): Wells Fargo analyst suggested Intel could face further delays of its 10nm Ice lake Xeon Scalable Processor. https://bit.ly/2qML0wQ

Macro:

President Trump tweeted that a report on the US-China trade deal is “completely wrong.” China still did not make any official statements. https://cnb.cx/2PG5HmK
Earlier, Trump tweeted the US and China are very close to reaching preliminary trade deal. Following reports suggested Trump is set to sign-off a deal. https://bloom.bg/36uhdIz
Boris Johnson won a majority in general election, leading the UK towards exiting EU by 31 Jan. Opposition leader Corbyn are set to resign. https://bloom.bg/2LS6Vdi
US November retail sales +0.2% m/m vs est. +0.5%. https://bloom.bg/2LS9D2s

Commodities:

WTI (+0.4%): The oil futures advanced on positive trade developments.
Chevron decided to proceed with its Anchor project in the Gulf of Mexico, with required investment of ~$5.7bn. https://reut.rs/34inN3p

Coming up:

Company / Analytics