Company / Analytics

Daily comment Nov 21

• Wall St opens higher on trade hopes
• AMTD +17% on potential takeover by SCHW
• AAPL could be exempt from tariffs
• PYPL -1.5%, to acquire Honey
• TIF +2.7% on increased LVMH takeover bid
• WTI -0.4%

Market movers:

• TD Ameritrade (+17%): The rival Charles Schwab is reportedly considering company acquisition for $26bn. (https://cnb.cx/2Da9PFr)
• Apple (+0.1%): President Trump said he could exempt Apple from a coming round of China tariffs. (https://on.wsj.com/2OxIr9W)
• Alibaba (+0.1%): Bernstein analyst raised its PT from $220 to $240 (~31% upside), saying that gross margin volume can double in 5 years. (Bloomberg)
• PayPal (-1.5%) agreed to acquire Honey, a platform for shopping and rewards, for $4bn. (https://bit.ly/2O542HJ)
• Tiffany (+2.7%): LVMH obtained an access to TIF’s financial information after raising its bid from $120 to “close to $130.” (https://reut.rs/37tGCnc)

Macro:

• According to China Morning Post, US tariffs on China imports due Dec. 15 could be delayed even if a trade deal was not reached by then. (https://bit.ly/2XzEYeY)
• China invited the US trade negotiators for the next round of face-to-face talks. (https://on.wsj.com/34bS1FS)
• President Trump is expected to sign a bill supporting Hong Kong protesters. (https://bloom.bg/2XBWxuN)

Commodities:

• WTI (-0.4%): According to Reuters, OPEC+ will likely deepen production cuts at the next group meeting. (https://reut.rs/2XybApD)
• US stockpiles rose by 1.38mn bls last week vs est. 1.5mn. (https://bit.ly/37nahOR)

Coming up:

• Companies to report earnings today: Nordstrom and The Gap