Beyond Meat, Mattel, Walt Disney? | #tinder | #pof

 

Earnings season. Novo Nordisk, PayPal, Costco Wholesale, Enel, BMW, Fresenius, Coloplast, Credit Agricole, Wolters Kluwer, Sampo, Unicredit, Genmab, Ocado and Veolia are among companies reporting their earnings today.

Mattel: the group is abandoning its annual targets after a 13.8% contraction in first-quarter revenues to $594.1 million.

Novo Nordisk: the Danish laboratory has confirmed its 2020 forecast.

Ocado: revenues jumped by 40% in the last quarter, in the face of exploding demand for deliveries with containment.

Pinterest: reported a heavier-than-expected quarterly loss due to rising costs and a slowdown in advertising revenues. The share lost 19%.

Beyond Meat will not achieve its goals this year.

BMW: on the sidelines of its quarterly results announcement, the German manufacturer has reduced its 2020 targets.

Walt Disney: the entertainment giant estimates that Covid-19 caused a $1.4bn shortfall on its business, which ended the first quarter with a 63% drop in adjusted earnings per share.

Devon Energy: Losses increased due to a $2.8bn impairment of assets. Production will be reduced.

Fresenius Medical Care: first-quarter results exceeded expectations, as business momentum offset the negative impact of Covid-19 on costs.

Match Group: revenues are lower than expected due to slower growth in the Tinder dating application.

Solvay: results for the second quarter will be significantly lower than those of the first, warns the Belgian chemist.

Unicredit: the Italian bank suffered losses in the first quarter, and warns that the strategic plan published in December is no longer current. It will be amended at the end of the year or early next year.

AbbVie and Allergan can merge. The American competition authority has authorized the merger between AbbVie and Allergan. The FTC vote was close: 3 in favor and 2 against. The transaction amounts to $63 billion. It was initially announced in mid-2019. The two laboratories have made a number of divestiture commitments to meet antitrust requirements.

Gilead is looking for production capacity. Gilead is in discussions to increase remanufacturing production worldwide. The FDA has endorsed the use of the antiviral for severe forms of Covid-19. Gilead is looking to build a network of partner laboratories around the world. 

In other news. General Motors is reportedly in negotiations for a $2 billion line of credit. Facebook says it has dismantled an Iranian disinformation network. Airbnb is preparing to lay off nearly a quarter of its workforce, nearly 1,900 people, Reuters has learned from good sources. California is suing Uber and Lyft over the status of drivers. Microsoft will invest 1 billion dollars in the cloud in Poland over 7 years. Occidental Petroleum is thinking about ways to reduce its debt, which is around $40 billion. Norwegian Air is launching a capital increase at NOK 1, against a closing price of NOK 4.8 last night.


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