US MARKETS:

-S&P 500 futures down 1.4% to 2,475.50
-Brent Futures down 0.7% to $54.54/bbl
-Gold spot up 0.3% to $1,288.08
-U.S. Dollar Index down 0.3% to 96.52

GLOBAL NEWS:

Sowing Blues. When Apple sneezes, the whole semiconductor industry gets a cold: the day's session should be another opportunity to check it out.

Bristol-Myers Squibb to Buy Celgene. Bristol-Myers Squibb agreed to acquire Celgene Corp. in a $74 billion cash-and-stock deal, to create a pharmaceutical giant that will rival the world’s biggest drugmakers, Bloomberg reports.

8 ATR 72-600 for Avation. ATR, the joint venture between Airbus and Leonardo, has received an order for 8 ATR72-600s from Avation, a Singapore-based rental company. The list price is $214.4 million but no aviation contracts are negotiated on these theoretical price levels.

Apple warning. It is difficult to ignore Apple's warning about its results for 2018. Yesterday after the closing, the group indicated that its revenues for the quarter ended December 31 would be close to $84 billion, well below the target of $89-93 billion. This was due, in particular, to a strong underperformance in emerging markets, particularly in China. Its shares dropped -7% in post-closing exchanges. Several analysts have revised their price targets downwards. The average was $205 compared to $215.50 on January 1.

Battery flat. Tesla finished down nearly 7% yesterday after disappointing results and the announcement of a price cut in the United States. Analysts must redo their accounts. JP Morgan reduced his target from $225 to $220 by remaining underweight.

Clariant reduces the sail in Stahl. Clariant has reduced its stake in Stahl by nearly 5% to 14.8%. The Swiss chemist will remain a "financial" investor in the capital. The stake was acquired as part of the sale of Clariant's Leather Services business to Stahl in 2014.

In other news. Banca Carige's listing will resume in Milan today after the appointment of directors by the ECB. Ryanair and Wizz Air publish their December traffic. Assicurazioni Generali is on the lookout for a German acquisition, according to the "Handelsblatt". Wedding discussions between Helaba and NordLB failed. Swisscom recovers public outsourcing contracts in Switzerland.