Novosti i prognoe: tržište kapitala od 13-10-2020

U.S. stock-index futures traded mixed on Tuesday as investors assessed a setback in a coronavirus vaccine trial being conducted by Johnson & Johnson (JNJ) and the first batch of corporate earnings. 

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Morgan Stanley (MS) resumed with an Overweight at JP Morgan; target $57

Exxon Mobil (XOM) upgraded to Neutral from Sell at Goldman; target raised to $36

Micron (MU) upgraded to Buy from Hold at Deutsche Bank; target raised to $60

Walt Disney (DIS) upgraded to Buy from Hold at Loop Capital; target $150

FXStreet reports that S&P 500 has surged higher again after completing its “head & shoulders” base above the mid-September highs at 3429/44 and analysts at Credit Suisse look for a resumption of the core uptrend back to the 3588 high and then for new record highs.

“Another strong move higher after the completion of its ‘head & shoulders’ base above key resistance from the mid-September highs and 61.8% retracement of the fall from September at 3429/44, with the market gapping higher yet again. Given the strength of the past four days, a knee-jerk pullback should be allowed for, but dips will stay seen as corrective and we maintain our bullish outlook and look for strength back to not only the 3588 record high but beyond in due course.” 

“We see resistance above the high of yesterday at 3565 next and eventually the 3588 high, also essentially the upper end of its ‘typical’ extreme (15% above the 200-day average). Whilst this should clearly be respected we look for a break in due course with the ‘measured base objective’ at 3653.” 

Citigroup (C) reported Q3 FY 2020 earnings of $1.40 per share (versus $1.97 per share in Q3 FY 2019), beating analysts’ consensus estimate of $0.87 per share.

The company’s quarterly revenues amounted to $17.300 bln (-6.9% y/y), generally in line with analysts’ consensus estimate of $17.184 bln.

С rose to $46.98 (+2.40%) in pre-market trading.

JPMorgan Chase (JPM) reported Q3 FY 2020 earnings of $2.92 per share (versus $2.68 per share in Q3 FY 2019), beating analysts’ consensus estimate of $2.24 per share.

The company’s quarterly revenues amounted to $29.941 bln (-0.2% y/y), beating analysts’ consensus estimate of $28.122 bln.

JPM rose to $103.85 (+1.38%) in pre-market trading.

Johnson & Johnson (JNJ) reported Q3 FY 2020 earnings of $2.20 per share (versus $2.12 per share in Q3 FY 2019), beating analysts’ consensus estimate of $1.98 per share.

The company’s quarterly revenues amounted to $21.082 bln (+1.7% y/y), beating analysts’ consensus estimate of $20.155 bln.

The company also issued upside guidance for FY 2020, projecting EPS of $7.95-8.05 versus analysts’ consensus estimate of $7.89 and its prior guidance of $7.75-7.95 and revenues of +0.0-1.0% y/y to ~$82.0-82.8 bln versus analysts’ consensus estimate of $80.66 bln and its prior guidance of $79.9-81.4 bln.

JNJ fell to $150.28 (-1.03%) in pre-market trading.