Market news | LesAffaires.com

Intel has announced an investment of US $ 20 billion for the construction of two factories dedicated to the production of advanced electronic chips. (Photo: Christian Wiediger for Unsplash)

IMPORTANT NEWS

• Disappointing results for pandemic loved ones, discarded by markets. Netflix and Peloton, which became market darlings during the pandemic, each saw nearly a fifth of their stock market value rise on Thursday after the two companies announced a business slowdown, a sign analyst said. growing market concern about the business prospects of these companies.

• Intel wants to invest US $ 20 billion in Ohio for the production of electronic chips. Intel has announced a US $ 20 billion investment in Ohio for the construction of two new factories for the production of advanced electronic chips, a first step in creating a “mega site” that will eventually accommodate eight factory and worth US $ 100 billion.

• Schlumberger benefits from the need for drilling associated with rising oil. Schlumberger reported higher revenue in the fourth quarter as demand for its oilfield services and related equipment grew due to plans by many producers aimed at taking advantage of rising oil prices.

• Major oil companies invited the American Congress to talk about climate. A U.S. congressional committee invited key board members of four major oil companies to testify in February about their role in climate change and spreading “misinformation”, which put pressure on the oil industry after that lawmakers reviewed their CEOs last year.

• TotalEnergies and Chevron leave a major gas project in Myanmar. TotalEnergies and Chevron, partners in a major gas project in Myanmar, have announced they are leaving the country, citing the deteriorating humanitarian situation following last year’s coup.

(Re) read all the market news

TRENDS BEFORE OPENING

Futures for Canada’s major stock index fell, pulled by lower crude prices. U.S. stock futures fell as markets feared the pace of monetary policy restrictions and the release of results less than expected by companies hit by the pandemic. European stocks and Asian stock markets are also in negative territory. The US dollar lost against most major currencies. The price of gold is falling due to inflationary pressure.

RECOMMENDATIONS

• New: Cowen and Company lowered its price target from C $ 169 to C $ 143 on concerns that cross-border travel delays and supply chain bottlenecks are likely to have less of an impact on business.

MAIN INDICATOR OF THE AGENDA

8:30 am (estimated) New housing price index (December): previous 0.8%

8:30 am (estimated) Retail sales, var. monthly (November): consensus 1.2%, previous 1.6%

8:30 am (estimated) Retail sales, excluding vehicles (November): consensus 1.3%, previously 1.3%

PUBLICATIONS OF RESULTS

January 21 and 24

No publication of key results is expected

CORPORATE AGENDA

There are no large companies releasing today

COUPON SECONDMENTS

Keyera: value of C $ 0.16

All analyst forecasts are based on I/B/E/S data from Refinitiv.

IMPORTANT NEWS

• BMO bought Bank of the West from BNP Paribas for US $ 16 billion

BNP Paribas announced the sale of its US division Bank of the West to BMO for US $ 16.3 billion, a transaction that will give the largest French bank significant resources to complete new transactions and for share buybacks.

• US $ 5,000 billion in mergers and acquisitions in 2021, an all-time record

Global merger and acquisition activity shattered all records in 2021, more than the mark set 15 years ago, as abundant capital and high valuations sparked turmoil in the deal.

• The Moderna vaccine booster will protect against the Omicron variant

Moderna said a booster dose of its COVID-19 vaccine appears to protect against the Omicron variant in lab tests and that the current version of the vaccine will continue to be “Moderna’s first line of defense against Omicron. ” .

• US: The Senate voted on Biden’s plan despite Manchin’s objections

The U.S. Senate will move forward by voting on President Joe Biden’s Build Back Better investment plan early next year, despite opposition from key Democratic Senator Joe Manchin, and will also consider rights legislation. on voting, according to Senate Majority Leader Chuck Schumer.

• Opioids: Purdue’s settlement was delayed due to Sackler’s return

Purdue Pharma, the maker of OxyContin, could wait several years to pay billions of dollars in a legal settlement to address the opioid crisis in the United States, after a judge overturned an agreement that legalized safety to the Sackler family, which owns the company, according to people familiar with the negotiations.

Leave a Comment