Corporate results:
- Hapag-Lloyd: 2022 Ebit rises 7.4% to €18.5bn.
- Pets at Home: the British company raises its annual profit outlook.
- Samsung Electronics: the Korean giant's Q4 earnings are lower-than-expected. The group expects chip investments similar to 2022.
- Stora Enso: despite a more complicated year-end, the group reports its best results in 22 years.
- UBS: Q4 profit rises 23% and beats estimates.
- Unicredit: increases its dividend payout target by 40% after record profit.
- General Motors reported higher fourth-quarter net income and expects to post a larger-than-expected profit for the full year 2023, sending the U.S. automaker's stock up more than 5% in pre-market trading.
- Pfizer expects annual sales of its COVID-19 vaccine and antiviral to fall more than expected, reinforcing market concerns about demand for its products as government orders slow. In pre-market trading, the stock was down more than 3%.
- Caterpillar, the world's largest construction equipment company, reported a lower-than-expected quarterly profit as higher manufacturing and transportation costs weighed on its margins.
- Exxon Mobil reported a $56 billion profit in 2022, setting a record in the Western oil industry.
- McDonald’s beat market expectations for like-for-like quarterly sales but warned of continued inflationary pressures in the near term. The fast-food group was down 1.5% in pre-market trading.
In other news:
- Ford Motor cuts prices and increases production of the Mustang Mach-E, following Tesla's announced rebates.
- Leoni 's CEO takes over the same role at AMS-Osram.
- Boeing will increase 737 MAX production at its U.S. plant in 2024. The manufacturer wins a $2.3 billion contract to deliver aerial refueling aircraft to the US Air Force.
- BYD expects a five-fold increase in profit by 2022.
- Vedanta is reportedly abandoning plans to sell a copper smelter in India, according to Bloomberg.
- Rheinmetall and General Motors are likely to win a large order for U.S. Army trucks.
- Nike is suing Lululemon for patent infringement on shoes.
- Bed Bath & Beyond is unlikely to escape bankruptcy this week, according to several sources.
- MFE-MediaForEurope announces a merger by absorption with its subsidiary Mediaset España.
- Logitech appoints a new CFO.
- Webuild signs a €208 million contract for works in Sicily.
- Roche cooperates with US-based Jana Care for home blood tests.
- GSK acquires 11% stake in Wave Life Sciences for $50m.
Today's main earnings reports: Exxon Mobil, Samsung Electronics, Pfizer, McDonald's, United Parcel Service, Amgen, Vale, Canadian Pacific Railway, UBS, Epiroc, Vantage Towers, Stora Enso...