• US500 is testing resistance at 3500 pts
• US earnings season kicks off tomorrow
• Twilio (TWLO.US) will acquire Segment for $3.2 billion
• US earnings season kicks off tomorrow
• Twilio (TWLO.US) will acquire Segment for $3.2 billion
US indices launched today’s session higher extending recent gains as investors continue to monitor developments on a new coronavirus aid bill. The Trump administration called on Congress to pass a scaled down coronavirus relief package using leftover funds from an expired small-business loan program, after the near $1.9 trillion proposal was rejected from both Democrats and Republicans over the weekend. Meanwhile the U.S. corporate earnings season will start this week with major US banks being the first to report on Tuesday. After second-quarter earnings results came in better than expected, there are some relatively positive forecasts for this next quarter. This is also likely to be a big week for the tech sector, with Apple expected to launch its 5G iPhone 12 on Tuesday and Amazon's Prime Day occurring on Oct. 13-14. Meanwhile European Union regulators are preparing a list of up to 20 large internet companies, which will most likely include the U.S. tech giants, that will face new and tougher rules aimed at reduce their market power.
US500 – last week buyers managed to break above the resistance at 3440 pts. Today, one can see that the upward move is being continued after US open and index is testing the resistance at 3500 pts. Should a break above occur, then market may launch another upward impulse with ATH at around 3588 pts being potential target. On the other hand, once sellers regain control, the aforementioned 3440 pts level may be at risk. Source: xStation5Twilio (TWLO.US) – the cloud communications platform provider announced a deal to buy customer data platform provider Segment that lets organizations pull in customer data from one app into another, by way of APIs, and use its platform to better control the movement of that customer data. Twilio is paying $3.2 billion “in Twilio Class A common stock, on a fully diluted and cash free, debt free basis”. The deal is expected to close in Q4 2020, and Segment will become a division of Twilio, the companies said.
Twilio (TWLO.US) launched today’s session with a massive bullish price gap and painted a fresh all-time high. However, if there is a change in market sentiment, then nearest support is located at $289.00. Source: xStation5Apple (AAPL.US) – according to court's decision, Apple is allowed to bar the popular videogame “Fortnite” from its app store for now. Apple and “Fortnite” developer Epic Games have been clashing in court for some time, with Apple saying Epic violated the app store’s terms by bypassing its payment systems.
AstraZeneca (AZN.US) – signed a deal worth a $486 million with the U.S. government to develop and supply up to 100,000 doses of its Covid-19 antibody treatment which is similar to the one used to treat President Donald Trump after he tested positive for Covid-19.
Levi Strauss (LEVI.US) stock was upgraded to “overweight” from “equal-weight” by Morgan Stanley, which noticed management's quick response to a difficult retail environment as well as strong revenue growth.
PepsiCo (PEP.US) stock was upgraded to “buy” from “neutral” by Citi, in anticipation of improving profit margins in North America as well as strong organic sales growth relative to its peers.
Alphabet (GOOGL,US) – The Justice Department and state attorneys general are considering the idea of forcing Alphabet’s Google unit to sell its dominant Chrome browser, according to people with knowledge of the discussions who spoke to Politico. Those talks come ahead of an anticipated antitrust lawsuit against Google.
