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Yahoo BusinessOct 27, 2020
Europe Stocks Open Lower, U.S. Futures Fluctuate: Markets Wrap
(Bloomberg) -- European stocks opened down on Tuesday and U.S. futures fluctuated as investors weighed positive earnings reports against concerns that surging coronavirus cases will hurt the global economy.Declines in European energy and auto share offset gains in banks after powerhouse HSBC Holdings Plc reported credit losses would be at the lower end of its previously announced range. Spanish lender Banco Santander SA's earnings beat estimates and may have boosted its case to resume dividends. Swiss drugs giant Novartis AG erased an early share gain after lifting its earnings forecast.S&P 500 futures signaled the index may hold much of Monday's decline, which was the largest in a month. Crude oil nudged higher, while Treasuries and German bunds were steady."Even as equities sold off yesterday, bond yields did not fall by much," ING Groep NV strategists including Padhraic Garvey wrote in a note. "The bond market is still sniffing a slightly better medium-term outlook, especially in the U.S."Investors will look for market catalysts later on Tuesday from U.S. pharmaceutical company earnings and data on durable-goods orders and consumer confidence. In the meantime, surging coronavirus infections are adding to an already cautious mood with the U.S. election a week away and time running out to finish an aid package before then.Europe took a step closer to the strict rules imposed during the initial wave of the pandemic, with leaders struggling to regain control of the spread while confronting growing opposit

MarketWatch Breaking NewsOct 27, 2020
European stocks struggle as investors juggle earnings with COVID-19 resurgence
European stocks struggle as investors juggle earnings with COVID-19 resurgence

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Europe Markets: European stocks sluggish as investors balance earnings beats with COVID-19 wave (MarketWatch)

MarketWatch MarketPulseOct 27, 2020
AMD to acquire Xilinx in all-stock deal valued at $35 billion
Advanced Micro Devices Inc. said Tuesday it has reached an agreement to acquire Xilinx Inc. in an all-stock deal valued at $35 billion. Xilinx shareholders Will receive 1.7234 share of AMD for each share owned, equal to $143 in cash. AMD shareholders will own about 74% of the net entity, while Xilinx shareholders own the remaining 26%. The deal is expected to close before end 2021. "The combination will create the industry's leading high performance computing company, significantly expanding the breadth of AMD's product portfolio and customer set across diverse growth markets where Xilinx is an established leader," the companies said in a statement. "The transaction is expected to be immediately accretive to AMD margins, EPS and free cash flow generation and deliver industry-leading growth." Xilinx shares jumped 11% premarket on the news, while AMD fell 3.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseOct 27, 2020
3M's stock ticks up after profit beats expectations, sales rise just above forecasts
Shares of 3M Co. edged up less than 0.1% in premarket trading Tuesday, after the consumer, health care and industrial products company reported third-quarter profit that beat expectations, while sales rose just above forecasts, helped by a surge in health care sales. Net income fell to $1.41 billion, or $2.43 a share, from $1.58 billion, or $2.72 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $2.43, above the FactSet consensus of $2.26. Sales rose 4.5% to $8.35 billion, above the FactSet consensus of $8.31 billion. Health care sales rose 25.5% to $2.2 billion, beating the FactSet consensus of $2.06 billion; safety and industrial sales grew 6.9% to $3.0 billion to top expectations of $2.95 billion; and consumer sales grew 5.6% to $1.4 billion, in line with expectations of $1.37 billion; while transportation and electronics sales fell 7.4% to $2.3 billion to fall shy of expectations of $2.35 billion. The company didn't provide full financial guidance given uncertainties related to the COVID-19 pandemic, but said October sales are expected to be in the flat to up low-single digits percentage range from a year ago. The stock has lost 5.8% year to date through Monday, while the Dow Jones Industrial Average has slipped 3.0%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatchOct 26, 2020
Market Snapshot: Dow ends 650 points lower as rising COVID-19 cases, stalled stimulus efforts highlight recovery jitters
Stocks stumble Monday as the number of daily U.S. COVID-19 infections hit a record at the end of last week and a final agreement on a new round of aid to the economy remains elusive.

MarketWatch Breaking NewsOct 26, 2020
Software stocks down in premarket after SAP warns on sales and profit
Software stocks down in premarket after SAP warns on sales and profit

MarketWatch MarketPulseOct 26, 2020
HCA Healthcare stock drops after profit comes up shy of expectations, but revenue beats forecasts
Shares of HCA Healthcare Inc. sank 3.6% in premarket trading Monday, after the hospital operator reported a third-quarter profit that came up short of expectations, while revenue rose above forecasts despite a drop in same-facility admissions. Net income rose to $668 million, or $1.95 a share, from $612 million, or $1.76 a share, in the year-ago period. the company said the results include a reversal of $822 million, or $1.72 a share, in government stimulus income recorded in the sequential second quarter. The FactSet consensus for earnings per share was $2.32, and the consensus for net EPS was $2.61. Revenue increased 4.9% to $13.31 billion, above the FactSet consensus of $12.90 billion. Same-facility admissions declined 3.8% and equivalent admissions fell 9.0%, as same-facility emergency room visits dropped 20.3% and same-facility inpatient surgeries declined 6.8%. Meanwhile, same-facility revenue per equivalent admission increased 14.8%, due to increases in acuity of patients treated and favorable payer mix. The stock has lost 7.6% year to date through Friday, while the SPDR Health Care Select Sector ETF has gained 5.9% and the S&P 500 has advanced 7.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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