Corporate results:
  • Aurubis posted first-quarter earnings slightly below forecasts.
  • BP Plc exceeded fourth-quarter earnings forecasts and increased share buybacks
  • Infineon published results below expectations.
  • Nintendo sells more Switches than expected.
  • NXP Semiconductors gains 3.7% after its quarterly results.
  • Palantir soars 17% after its robust quarterly results and guidance.
  • Toyota Motor sells fewer vehicles than expected, but reports better-than-expected earnings and raises its targets (the stock gains 5% over the session).
  • UBS plans to relaunch its share buy-backs, following a loss in Q4 due to the costs of incorporating Credit Suisse.
  • Centene beat Wall Street estimates for fourth-quarter sales on Tuesday, thanks to higher premiums in its commercial insurance business.
  • Dupont de Nemours beat Wall Street estimates for fourth-quarter earnings on Tuesday, as the chemicals manufacturer benefited from cost-cutting measures. The stock gained 2.1% before the opening.
  • Willis Towers Watson reported better-than-consensus quarterly earnings on Tuesday, thanks to strong performances in its risk and brokerage businesses.
  • KKR said Tuesday that its fourth-quarter distributable earnings were up 4%, thanks to strong growth in revenues from asset sales as well as management and transaction fees.
  • FMC Corp falls 14% in premarket trading after the agricultural products specialist reports lower-than-expected quarterly earnings and weak forecasts for 2024.

  • Eli Lilly forecast 2024 earnings ahead of Wall Street estimates, thanks to demand and increased production capacity for its weight loss drug Zepbound and diabetes drug Mounjaro. The stock gained 2.3% before the opening.

In other news:

  • Novartis will buy MorphoSys for €2.7 billion, or €68 per share.
  • Blackstone is interested in buying L'Occitane, according to Bloomberg.
  • New York Community Bancorp's chief risk officer left the company just weeks before a major loss, according to the FT.
  • SAP will no longer order company cars from Tesla, due to delivery delays and fluctuating prices.
  • Novo Nordisk will begin share buybacks for 2024.
  • Grifols hired Nacho Abia as CEO, four weeks after short-seller Gotham City published a report questioning the company's accounting.
  • DocuSign's negotiations with Bain, Hellman & Friedman reportedly stalled.
  • Alphabet wants to bring third-party shareholders into its GFiber unit.
  • Anglo American CEO says the company may consider deeper cost cuts.
  • Vertex Pharmaceuticals announced positive results from Phase III trials of Vanza trio for the treatment of cystic fibrosis.
  • Kirkbi Invest places over 2.2 million Landis+Gyr shares, representing around 7.7% of the capital.
  • Stadler Rail wins a CHF 600 million order in Saudi Arabia.
  • Medical test manufacturer Invitae prepares for bankruptcy, according to the WSJ.
  • General Motors will recall 323,232 vehicles to resolve a tailgate problem, the U.S. National Highway Traffic Safety Administration said Tuesday.
  • TSMC said Tuesday it would build a second plant in Japan, scheduled to come on stream by the end of 2027, bringing its total investment in the archipelago to over $20 billion.
  • Virgin Galactic Holdings - The space tourism company announced on Monday that it had informed the Federal Aviation Administration (FAA) of a non-safety-related part detachment during a flight of the VMS Eve on the "Galactic 06" mission.

Today's main earnings reports: Eli Lilly, Linde, Amgen, Gilead, Fiserv, KKR, Chipotle, Carrier, Toyota Motor, Mitsubishi Corporation, Nintendo, BP Plc, UBS, Intesa Sanpaolo, Demant, Scor, Infineon Technologies... The full earnings calendar is here.