Wall Street hooly-news.com analysis – Wall Street still awaiting validation of the stimulus plan

(hooly-news.com) – The American indices closed in dispersed order pending the validation of the recovery plan of $ 2,000 billion by the United States Senate. The slow pace of negotiations, however, weigh on the indices at the end of the sessions when the WHO recently estimated that the country could potentially become, after Europe, the new epicenter of the Covid-19 pandemic. At the sound of the bell, the Dow Jones gained 2.39% to 21,200.55 points while the Nasdaq Composite fell 0.45% to 7,384.30 points.

In terms of agility and rebounding ability, Nike has nothing to envy Michael Jordan! In the third quarter of its fiscal year, thanks to digital technology, the American sports equipment manufacturer indeed resisted the coronavirus crisis in China much better than expected, yet one of its key markets. On Wall Street, the title of the comma brand jumped 9.38% to 79.40 dollars. Impressed by the performance of the Oregon group, Credit Suisse raised its share price target from 85 to 92 dollars while reiterating its opinion on Outperformance.

Economic figures of the day

The FHFA US house price index rose 0.3% in March after the 0.6% increase recorded in February.

In the United States, orders for durable goods rose 1.2% in February. Economists had forecast a 1.4% drop after + 0.1% in January, a revised figure of -0.2%. Excluding the transportation sector, orders fell 0.6%. The consensus was for a drop of only 0.2% after + 0.6% in January (revised figure of + 0.9%).

The values ​​to follow today

ACTIVIZATION BLIZZARD

Berenberg raised its Keep to Buy recommendation and its price target from $ 55 to $ 67 on Activision Blizzard. The design office believes that the increase in player engagement linked to containment should help cement the return to fortune from which Activision Blizzard began to benefit in the second half of 2019. It has therefore raised its profit estimates by 7.5% action for 2020 and 3% for 2020 and 2021.

FACEBOOK

Facebook said its business was “affected” by the covid-19 pandemic. The world’s largest social network has clarified that its messaging products and other services are increasing in traffic and that it does not generate income from “many services” which are used more and more. Facebook also said ad revenue is falling in countries that are taking aggressive steps to reduce the spread of the virus.

NIKE

Nike has released third quarter results of its fiscal year better than expected thanks to the digital. The net profit of the American sports equipment manufacturer stood at 847 million dollars, or 53 cents per share, against 1.1 billion, or 68 cents per share a year earlier. Revenues increased 5% to 10.1 billion thanks to the 13% increase in direct sales (not wholesale). Sales on its website jumped 36%, with good momentum across all of its markets. The United States made up for the shortfall in China.