Corporate results:

  • Berkshire Hathaway: Adjusted quarterly results are higher than expected at $7.8 billion, but the bottom of the income statement is a net loss of $2.69 billion, especially due to Hurricane Ian.
  • Ryanair: The carrier expects to generate between €1 and €1.2 billion for fiscal 2023.
  • Blue Apron was down 16% in pre-market trading after withdrawing its annual revenue growth forecast from 7% to 13%, citing funding uncertainties.

 

In other news:

  • Apple expects lower-than-expected shipments of its iPhone 14 Pro due to health restrictions that are heavily affecting production at its subcontractor Foxconn 2317.TW's mega-factory in Zhengzhou, China.
  • Meta Platforms was up 3.3% in pre-market trading in reaction to a Wall Street Journal report that Facebook's parent company plans to lay off thousands of people
  • Philip Morris International - Marlboro cigarettes maker announced Monday that it has secured 82.59% of Swedish Match as part of its $16 billion offer, while 90% is needed for the compulsory buyout of the minority shares it does not yet own.
  • Exxon Mobil will book a $2 billion loss after selling a troubled offshore oil and gas field in California that has been idle since 2015.
  • Walgreens Boots Alliance - VillageMD, a health care group majority-owned by Walgreens Boots Alliance, is close to closing a deal with Summit Health in a merger offer worth about $9 billion, including debt, The Wall Street Journal reported Sunday, citing sources.
  • Airbnb and other short-term accommodation rental companies will have to share data on the number of people using their services, the European Commission proposed Monday as part of a regulation of the industry.
  • HSBC's largest shareholder, Ping An, calls for a reorganization of the group.
  • Gold Fields says it will not make a new offer for Yamana Gold.
  • Wells Fargo was fined $1 billion by US consumer protection agency.
  • Beijing is strengthening its control over ByteDance's rival Kuaishou through an equity stake, according to The Information.
  • Nike suspends its partnership with basketball player Kyrie Irving after his promotion of an anti-Semitic film.

Top earnings reports today: Activision, BioNtech, International Flavor, Coloplast, NTT Data, Palantir, Ryanair... All the agenda is here.