Apple Lossless Audio CODEC (ALAC), it jumped 3% to $117. Goldman Sachs has set a Buy recommendation with a target of $163, placing the stock on its Conviction Buy List. According to American analysts, Apple is increasingly becoming a "services" company rather than a "hardware" manufacturer. This is demonstrated, for example, by the progress in Apple TV, which tends to offer a series of services to iPhone users (music and payment methods) to push them to acquire additional hardware devices such as iPads, Macs and Apple Watches. The title earns 6% since the beginning of the year. Despite the correction from the absolute tops to 134 dollars, the capitalization remains considerable: 655 billion.
ON Semiconductor falls by 6,6%. The chipmaker has reached an agreement to buy Fairchild Semiconductor International for $2,4 billion. This is the latest billion-dollar deal in the chip sector: since the beginning of the year, M&A operations have amounted to 90 billion dollars. On will pay $20 in cash for each Fairchild share, a 12% premium on yesterday's close and 41% above October 13 when the company announced it was looking for a buyer.
The Exchange of Milano closed lower, a larger decline than the average of the European equity market. Ftse Mib index -1%. Frankfurt it lost 0,1%. London gained 0,1% and Paris it finished the session with a drop of 0,6%.
Il dollar is at its highest since April, it shows that the market is expecting a rise in the cost of borrowing at the Federal Reserve meeting on December 15-16. Bond yields fall in Europe. The 10-year BTP trades at 1,52%, down 3 basis points.
At Piazza Affari both went down Enel is Enel Green Power: the stock of the parent company by 3% and that of the subsidiary by 3,4%. Yesterday morning it was announced the integration project which will lead to the delisting of the renewable energy company. Enel also presented the updated business plan.
In the last five sessions the movement of the price of Petroleum it is completely "schizophrenic", with daily swings of more than 2% one way or the other. The excess supply of crude oil on the global market remains high, while some operators, to explain the rebound in oil stocks, rely on the expectations of an imminent end to the embargo against Russia, which has become a precious ally in the fight against the Isis. Eni -0,1%, Saipem +0,7%.
Industrial Driver's License it is the best blue chip with a +3,6%. The decline since the beginning of the year is reduced to -8%. From the highs of the last two and a half years, reached in July, CNH Industrial has lost 30%.
Between spring and summer, the prices of agricultural commodities fell, a contraction that prompts farmers to reduce investments in machinery and tractors. Soybean prices hit a five-and-a-half-year low on Monday, down 14% year-to-date. In the following two days, the soybean price rebounded, today it returned to the levels of early November.
The company controlled by Exor has recently revised its revenue estimates downwards, also due to more cautious assumptions on the turnover of the agricultural vehicles area.
Fiat Chrysler -1,2%. Car sales in Brazil are likely to drop again next year, after falling in 2015, according to the national association of car dealers, Fenabrave. According to the association, sales of cars and light commercial vehicles will record a drop of 5,2%, while buses and heavy vehicles will see sales drop by 4,2%. In the first ten months of the year, auto sales in Brazil plunged by 24% compared to the same period in 2014
StM +0,4%. Banks are down: Unicredit -2% Understanding -1,5% Mount Paschi -0,2% Banca Popolare di Milano -1,9%. In the luxury segment, they have gone down Ferragamo (-1,3%), Tod’s (-1,8%), Luxottica (-2%). Moncler (+1%). Out of the main basket, Astaldi + 6% Trevi + 3,3% Falck Renew + 2,3% Frendy Energy + 3%.
