Ferrari saw 7 percent increase. An EBITDA of EUR 330 million against consensus of EUR 300 million was achieved by the Italian carmaker in Q3, up 6.4 percent year-on-year, with sales down 3 percent to EUR 888 million. As a result, thanks to a favorable product/price mix and cost control, EBITDA’s margin increased by 330 basis points to 37.2 percent. A positive industrial cash flow of EUR 77 million was generated by the company. Over the period, it produced 2,313 vehicles, down 161 units over one year, and aims to recover 500 units of the 2,000 lost as a result of the seven-week suspension of production due to the pandemic this year. Management is targeting an adjusted EBITDA of approximately EUR 1.125 billion for sales in excess of EUR 3.4 billion at the top of the guidance range set at the beginning of August.
The American social networks, Twitter was up 5.7 percent and Facebook was up 1.5 percent. Both have taken measures to alert users of future messages from US presidential candidates or their teams claiming victory prior to the official results.
In the third quarter in a row, Spirit Aero systems (up 5.4%), an aeronautical equipment player, announced a further loss due to the decline in production of its key customers, Airbus (up 5% in Paris) and Boeing (up 3.4%).
Thomson Reuters was up 4.2% after the knowledge company, backed by its legal and corporate divisions, announced a rise in third-quarter sales and increased its cash flow target.
After a better-than-expected profit for the fiscal third quarter, Humana (up 3.8 percent), a U.S. health insurer, increased its full-year adjusted earnings target.
Bristol-Myers Squibb (up 2.9%) suggested that an advanced trial in its experimental plaque psoriasis therapy was more successful than Amgen or Placebo to provide treatment in mild to serious cases of the disease.