Wall Street pre-opening AOF analysis – New York stock exchanges resist Angela Merkel’s comments

(AOF) – Wall Street is expected to open slightly higher on Monday, as Europe rocked due to Angela Merkel’s comments on covid-19. As the fifth forced Austria to reconfigure itself, the German Chancellor warned she was ready to take further action if necessary. Concern has not yet spread to the United States, but the day should be calm in the news, pending many indicators on Wednesday, the eve of Thanksgiving. Note that Joe Biden propose to keep Jerome Powell at the head of the Fed. In pre-opening, the S&P 500 is gaining 0.28%.

Yesterday on Wall Street

Wall Street ended out of order at the Friday close. Concerns about the resumption of the Covid epidemic in Europe have prompted investors to limit their risk-taking. This resulted in the fall in bond yields, the 10-year American thus falling to 1.549%. In terms of values, Applied Materials’ results and outlook were disappointing. The Dow Jones lost 0.75% to 35,601.98 points while the Nasdaq Composite gained 0.4% to 16,057.44 points. On a week, the first gave up 1.38%, while the second rose 1.24%.

Macroeconomic figures

US sales of older homes in October will be released at 4 p.m. ET.

The values ​​to follow

Activision Blizzard

Activision Blizzard chief executive Bobby Kotick has told senior executives he will consider leaving the company if he fails to quickly resolve the video game giant’s cultural issues, according to people familiar with his operations. comments cited by the Wall Street Journal. Activision Blizzard is facing prosecution for sexual discrimination and harassment. The pressure had mounted last week on the boss of the video game publisher for 30 years.

GlobalFoundries

JPMorgan began monitoring GlobalFoundries with an Overweight recommendation and a price target of $ 80. “As applications become smarter, more connected, and focused on real-world signal processing and energy efficiency, the demand for more ubiquitous semiconductors (analog, mixed signal, power management, RF, semiconductor products) high-speed drivers) increases, ”explains the design office.

KKR

KKR has made an offer to acquire the Italian telephone operator Telecom Italia. The investment fund specializing in private equity has thus proposed 0.505 euros per share for the entire capital of the company (ie approximately 10.8 billion euros). This preliminary proposal, qualified as “friendly” and non-binding, would be subject to a minimum acceptance level of 51% for the different categories of shares, and would have as its final objective a withdrawal of Telecom Italia from listing.

Tesla

The Model S Plaid, a sedan with a range of over 800 kilometers and reaching up to 320 kilometers per hour, could be released in China around March. This is what Elon Musk, CEO of Tesla, wrote on his Twitter account. In pre-opening of Wall Street on Monday, the title of the manufacturer of electric vehicles rose 2.5%.

Vonage

Ericsson has entered into a deal to acquire Vonage Holdings for $ 21 per share, for a total purchase price of approximately $ 6.2 billion in enterprise value. The telecoms equipment manufacturer offers a premium slightly above 28% compared to Friday’s closing price. The merger agreement was unanimously approved by the board of directors of the American company specializing in communication solutions for businesses via the cloud. The acquisition will be funded from Ericsson’s existing liquidity.