Friday, 4 Dec 2020

European Economics Preview: Germany Producer Prices Data Due

Watch live: The World Health Organization holds a press briefing on the coronavirus as pandemic worsens in the U.S.

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The World Health Organization is holding a briefing Monday on the coronavirus as the pandemic in the United States accelerates.

As of Sunday, the U.S. has reported an average of about 68,767 new cases every day, the highest seven-day average recorded yet, according to a CNBC analysis of Johns Hopkins University data. Additionally, Covid-19 hospitalizations were growing by 5% or more in 34 states as of Sunday, according to a CNBC analysis of data collected by the Covid Tracking Project. 

On Friday, WHO Director-General Tedros Adhanom Ghebreyesus warned that some countries are on "a dangerous track" heading into flu season.

″Too many countries are seeing an exponential increase in cases and that's now leading to hospitals and ICU running close or above capacity and we're still only in October," he said. "We are at a critical juncture in this pandemic, particularly in the Northern Hemisphere," he added.

Read CNBC's live updates to see the latest news on the Covid -19 outbreak.

Stock Alert: Canon Shooting Up After Raising Outlook

Shares of Digital camera maker Canon Inc. (CAJ) are climbing more than 6% Monday morning after the company raised its full-year sales outlook.

For the full year, the company sees net sales of 3140 billion yen, up from 3080 billion yen provided earlier.

Canon reported earning of 15.93 yen per share for the third quarter compared with $24.93 yen per share in the same quarter a year ago.

Net sales for the quarter decreased 12.7% year-on-year to 758.88 billion yen.

Canon stock is currently trading at $17.44. It has been trading in the range of $15.46- $28.41 in the past 52 weeks.

Stock Alert: SAP Tumbles 21% After Cutting FY20 Revenue Outlook

Shares of SAP SE (SAP) are falling more than 21 percent or $32.26 in Monday’s morning trade at $117.42 after the German software major lowered its revenue forecast for fiscal 2020.

For fiscal 2020, SAP now expects non-IFRS total revenue to be 27.2 billion euros to 27.8 billion euros at constant currencies, compared to its prior outlook of 27.8 billion euros to 28.5 billion euros. The company expects the COVID-19 pandemic to impact the demand environment through at least the first half of 2021, pushing out the achievement of key metrics such as non-IFRS cloud revenue, total revenue, and operating profit, by 1 to 2 years.

SAP reported that its third-quarter profit after tax rose 31 percent to 1.65 billion euros from last year’s 1.26 billion euros. Earnings per basic share rose 26 percent year over year to 1.32 euros on a IFRS basis and also increased 31 percent to 1.70 euros on a non-IFRS basis. Total revenue declined 4 percent from last year to 6.54 billion euros.

SAP has traded in a range of $90.90 to $169.30 in the past 52 weeks.

Stock Alert: Canon Shooting Up After Raising Outlook

Shares of Digital camera maker Canon Inc. (CAJ) are climbing more than 6% Monday morning after the company raised its full-year sales outlook.

For the full year, the company sees net sales of 3140 billion yen, up from 3080 billion yen provided earlier.

Canon reported earning of 15.93 yen per share for the third quarter compared with $24.93 yen per share in the same quarter a year ago.

Net sales for the quarter decreased 12.7% year-on-year to 758.88 billion yen.

Canon stock is currently trading at $17.44. It has been trading in the range of $15.46- $28.41 in the past 52 weeks.

A Listeria outbreak likely due to salami, mortadella, and deli meats has sent 10 people to the hospital and caused one death

  • A Listeria outbreak has hospitalized 10 people and killed one, the CDC reported on Friday.
  • Italian-style deli meats, such as mortadella, prosciutto, and salami are the likely source of the outbreak, the CDC said. 
  • Visit Business Insider's homepage for more stories.

A Listeria outbreak, likely from Italian-style deli meats like mortadella and salami, has hospitalized 10 people and killed one, the CDC reported Friday. Outbreaks have been reported in Florida, Massachusetts, and New York.

When authorities interviewed those who had been ill, all said that they had eaten Italian-style meats that were prepackaged or sliced at a deli counter. The CDC has not identified a specific type of deli meat or a common supplier, but recommends avoiding eating deli meats unless they are cooked before serving. 

In healthy people, food poisoning from Listeria can result in symptoms like fevers, headaches, stiffness, nausea, abdominal pain, and diarrhea. But for other groups, Listeria can pose a serious risk, the FDA said. Those with weakened immune systems can suffer fatal infections from Listeria, and pregnant women can suffer miscarriages from a Listeria-borne infection.

This year, the CDC has also reported unrelated Listeria outbreaks in foods ranging from pre-cut fruit to Enoki mushrooms. And this month, the former CEO of Blue Bell ice cream was indicted on charges that he covered up an unrelated Listeria outbreak in its ice cream. 

European Economics Preview: Germany Producer Prices Data Due

Producer prices from Germany and current account from euro area are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s producer prices for September. Economists forecast prices to fall 1.4 percent annually, after easing 1.2 percent in August.

At 4.00 am ET, the European Central Bank releases euro area current account data for August. The current account surplus is seen at EUR 17.2 billion compared to a EUR 16.6 billion surplus logged in July.

In the meantime, industrial production and producer prices are due from Poland. Industrial output is expected to grow at a faster pace of 3.8 percent after rising 1.5 percent in August.

At 8.00 am ET, Hungary’s central bank monetary policy announcement is due. Economists expect the bank to hold its key rate at 0.60 percent.

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