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Msg  68177 of 68382  at  9/18/2020 12:44:14 PM  by

carswell


Coffee/Summaries

BEFORE THE OPEN
Source: Thomson Reuters

  • Canada’s main stock index futures ticked up, supported by higher gold prices
  • Futures tracking the Nasdaq 100 index rose as a two-day sell-off in technology-related stocks halted, while worries about rising coronavirus cases and a patchy economic recovery weighed on the S&P 500 and the Dow futures
  • Travel and bank stocks weighed on major European indexes
  • China stocks staged a strong finish, led by heavyweight financials, while Japanese shares ended marginally higher
  • The U.S. dollar extended overnight losses
  • Oil prices pared gains
DEAL SPOTLIGHT
Source: Thomson Reuters

Telefonaktiebolaget LM Ericsson (ERIC):
  • Ericsson has agreed to buy U.S.-based wireless networking company Cradlepoint in a $1.1 billion deal, the Swedish telecoms gear maker said, as part of plans to expand its 5G-related products for business customers
  • The deal, Ericsson's largest in more than a decade, would give it access to tools that can connect devices using the so-called Internet of Things over a 4G or a 5G network
  • Ericsson plans to sell Cradlepoint products to its mobile operator customers, who can create new revenue streams by selling it to their business clients
  • The transaction, which is expected to close before the end of this year, will dent Ericsson's operating margins by about 1% in 2021 and 2022
  • The company expects the takeover to start contributing to operating cash flow from 2022
  • Ericsson said its 2022 group financial targets remain unchanged
STOCK IN THE NEWS
Source: Thomson Reuters

Apollo Global Management Inc (APO):
  • German plastics maker Covestro rejected a report that it was in takeover talks with private equity firm Apollo Global Management
  • Shares in the blue-chip company were trading up in pre-market trade following a Bloomberg report that Apollo was exploring a takeover
Facebook Inc (FB):
  • The company on Thursday said it would update its internal discussion policies to impose restrictions on employees' ability to debate social and political issues
  • The company's spokesman, Joe Osborne, said Chief Executive Mark Zuckerberg outlined his plans for the curbs to employees, with details of the new rules to be announced next week
  • Osborne said the new rules would apply to employee discussions of how executives handle politically sensitive content on Facebook's platforms, which was the subject of intense internal debates this summer
GlaxoSmithKline PLC (GSK) & Sanofi SA (SNY):
  • The European Union has agreed an advance purchase agreement with Sanofi and GlaxoSmithKline to buy the companies' potential COVID-19 vaccine, according to a tweet from European Health Commissioner Stella Kyriakides
  • The agreement is the second such deal struck by the European Union. Kyriakides said she was hosting the signature of the contract
  • The deal, for all 27 EU countries, covers the purchase of 300 million doses
  • In return for the right to the doses, the European Commission will finance part of the upfront costs faced by vaccine producers
  • The vaccine doses themselves would be bought by EU countries
Nuvei Corp (NVEI):
  • Shares of the company jumped on their market debut after the Canadian payment processing firm raised $700 million in the largest ever technology company offering on the Toronto Stock Exchange
  • Nuvei's shares opened at C$45.25, a 32% premium to the stock's initial public offering price of $26
  • It closed at C$45.05
  • The company, backed by Caisse de Depot et Placement du Quebec and Canadian private equity firm Novacap Investments, offers foreign exchange services, local acquiring and risk management services in countries including the United States and Canada
THINGS TO KNOW
Source: Bloomberg Finance L.P.
  • The Trump administration is asking gaming companies to provide information on their data-security protocols involving Chinese technology giant Tencent Holdings Ltd, according to people familiar with the matter
  • Saudi Energy Minister Prince Abdulaziz bin Salman had a clear warning for oil speculators yesterday when he said he would "make sure whoever gambles on this market will be ouching like hell"
  • The number of COVID-19 cases globally passed 30 million as many countries attempting to start to return to normal face setbacks

B2Gold Corp.* (BTO: $9.18)
EQ Inc.* (EQ: $1.50)
Greenlane Renewables Inc.* (GRN: $0.41)
IGM Financial Inc.* (IGM: $31.73)
Teranga Gold Corporation* (TGZ: $14.77)
Xebec Adsorption Inc.* (XBC: $4.53)

Dynatrace, Inc.* (DT: $39.85)
Five9, Inc.* (FIVN: $119.94)
ImmunoGen, Inc.* (IMGN: $4.10)
Intra-Cellular Therapies, Inc.* (ITCI: $30.97)
Maxar Technologies, Inc.* (MAXR: $27.53)
Universal Technical Institute, Inc.* (UTI: $6.64)


INDUSTRY UPDATE
Oil

MORNING INK REPORT
China growth and drilling provide a spark for Copper Mountain

MACRO - EVENT SCHEDULE

Source: Bloomberg Finance L.P.
Canadian retail sales rose 0.6% month-over-month in July 2020

MOST READ NEWS

Source: Bloomberg Finance L.P.
Even Fidelity’s $230 Billion Star Danoff Has Robinhood Anxiety

“Beauty awakens the soul to act.”

- Dante Alighieri

ASSET CLASS PERFORMANCE
Source: FactSet
*All numbers presented on the table below is based on total return




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