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(AOF) – Wall Street remains under pressure from tech stocks early this week. The Nasdaq stalled its third session of decline by falling yesterday from 1.39% to 7,630 points. What a turnaround as the index peaked at its historic record on Wednesday! This distrust of tech, which has been the main driver of the recent expansion of US markets, weighs on the entire rating. At the same time, the busy agenda this week (PCE inflation, Fed, employment) does not encourage investors to take risks. The Dow Jones yielded 0.57% to 25,306.83 points and the S & P 0.58%.
Caterpillar (-1.97% to 139.75 dollars) suffered in a market that did not resist long time to a new weak access of technological values. Yet the manufacturer of earthmoving machines does not have to blush results and prospects issued at midday. In the second quarter, Caterpillar posted net earnings of $ 2.82 per share, up from $ 1.35 a share a year earlier at the same time. Excluding special items, earnings per share were $ 2.97, exceeding the Reuters consensus of 2.73.
The economic data of the day
In the United States, real estate sales pledges rose 0.9% in June after falling 0.5% in May. The Reuters consensus was stability.
Values to Follow Today
CATERPILLAR
Caterpillar raised its 2018 targets after making much higher than expected profits in the second quarter. They had already been raised when the first quarter results were released in April. The world's leading earthmover and mining equipment company is now targeting adjusted earnings per share of $ 11 to $ 12, compared with a previous range of $ 10.25 to $ 11.25.
HARLEY DAVIDSON
Harley Davidson today presents his "More Roads to Harley-Davidson" plan, which is expected to generate more than one billion additional annual revenues in 2022 compared to 2017. "In addition to creating a new generation of bikers, the company is counting on the More Roads to Harley-Davidson plan to create more value, stabilize and strengthen the current business, improve the Return on Investment Capital (ROIC) of the Harley-Davidson Motor Company, increase revenues and profits, and allow the company to pay more dividends to shareholders, "says the company.
KKR
KKR will acquire the $ 1.2 billion Discovery Midstream gas supplier from TPG Growth. KKR is involved in a joint venture with Williams. KKR will contribute 60% of the price and hold 60% of the capital of the joint venture, the remaining balance to Williams. The latter will, however, obtain the majority of the voting rights. It will also increase its stake to eventually reach 50 of capital, on par with KKR.
SPOTIFY
Spotify has just made available a new payment method for its users in Brazil. From now on, the Brazilians will be able to pay the Spotify Premium subscription by using their debit card. The solution through which Spotify can accept this type of payment has been developed by Worldline, the European leader in payments and transactional services that offers payment solutions on an international scale, and by EBANX, a FinTech company based in Brazil that offers Brazilian and Latin American Local Payments to Traders Worldwide
TYSON FOODS
Tyson Foods Agribusiness Group Reduces Annual Adjusted Earnings per Share Earnings by 6.55 / 6 $ 70 to $ 5.70 / $ 6. The group justified this change by an impact of the tax reform representing 77 cents per share against a previous estimate of 85 cents; uncertainties in international trade, which in particular affect the prices of chicken and hog exports; Poor domestic demand for chickens and pressure on pork margins due to imbalance between supply and demand
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