Earnings reports: PayPal, The Estée Lauder Companies, Mondelez, Siemens Healthineers, Ryanair and Erste Group are among companies reporting their results today.

A few results:

  • -Ryanair: the company cannot provide a forecast for FY 2020/2021, but losses will be heavier in H2 than in H1. H1 ended with a loss of €197m due to a 78% drop in revenues.
  • -Siemens Healthineers: In the fourth quarter of FY 2019/2020 net profit decreased to €432m. This remains above consensus expectations, although revenues were slightly below expectations. For the new financial year, organic growth is expected to be between 5 and 8%. Net profit is expected to be between EUR 1.58 and EUR 1.72, after EUR 1.61 in the year just ended.
  • -Westpac Banking: annual profits fall by 66% to EUR 2.29 billion. A final dividend of AUD 0.31 will however be proposed.
  • -Estee Lauder reported net income of $523 million for the period, or $1.42 per share, compared to net income of $595 million, or $1.61 per share, a year earlier. Revenues for the first quarter of fiscal 2021 were $3.56 billion, down 9% year-over-year.
  • Nielsen Holdings reported net income for the third quarter of 2020 of $7 million, or 2 cents per share, compared to a loss of $472 million, or $1.33 per share, at the same time last year. It announced the sale of its consumer data division to Advent for $2.7 billion.

In other news:

  • Dunkin' Brands will be acquired by Inspire Brands for $8.8 billion ($11.3 billion debt included). The transaction is expected to close by the end of the year.
  • Nexi is negotiating the purchase of Danish company Nets from the Hellman & Friedman fund for some €8.6 billion, while it is in the process of merging with SIA, Reuters has learned.
  • The USA gave its green light to the merger between Upjohn (Pfizer) and Mylan in generics.
  • London speeds up review of AstraZeneca's vaccine candidate.
  • Olympus Corporation acquires French company FH Ortho.
  • Walmart finally puts guns back on its shelves after announcing their temporary withdrawal due to racial tensions in the United States and the approach of the presidential election.
  • Nestlé takes control of meal delivery company Freshly, based on a company valuation of $950 million, plus a $550 million earn-out. Switzerland previously held 16% of the capital.
  • Pacific Drilling filed for Chapter 11 bankruptcy protection.
  • Achiko finalizes its capital increase.