AM Report 21 Aug 18: Trade of the front page for now as merger news lifts enthusiasm

 US sharemarkets rose on Monday as risk sentiment improved on US-China trade talk optimism and mergers and acquisitions activity. Shares of Nike (+3.1%) hit a record high US$82.42 after Piper Jaffray upgraded the company to "overweight". Netflix shares lifted by 3.5% after it confirmed that it was testing ads on its platform. PepsiCo (-0.1%) announced an agreement to buy SodaStream (+9.4%) for US$3.2 billion. And Tyson Foods (+1.6%) confirmed it was buying chicken-processing company Keystone Foods for US$2.2 billion. Estee Lauder shares rose 3.4% after beating quarterly profit and sales estimates. The Dow Jones index rose by 89 points or 0.4%. The S&P 500 index rose by 0.2% and the Nasdaq rose by over 4 points or 0.1%.

 

Hello All,

Feel free to download and disseminate on your radio stations.

Kind Regards,

The CommSec Media Team

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual.  For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice.  This report is produced by Commonwealth Research based on information available at the time of publishing.  We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.