Corporate results:

  • The Gap: The stock gains more than 7% after good quarterly results.
  • General Motors: The manufacturer raised its free cash flow forecast for its automotive division in 2022.
  • Applied Materials - The semiconductor equipment maker climbed 5% in premarket trading after announcing that it expects better-than-expected revenue for the first quarter of its fiscal year, saying that expected easing of supply chain tensions will help it meet demand from chipmakers.
  • Gap jumped 8.6% in premarket trading on better-than-expected third-quarter revenue and profit, which were supported by resilient apparel demand despite high inflation.
  • JD.Com - The Wall Street-listed Chinese online retailer gained 5.3% in premarket trading after reporting better-than-expected quarterly sales.
  • Foot Locker was up 18% in pre-market trading after it raised its revenue and profit forecasts for this year, driven by resilient demand from affluent consumers.
  • Farfetch plunged 10.5% in premarket trading as the online retailer specializing in high-end fashion said it expects to post a negative Ebitda margin of 3-5% this year, compared to its previous guidance of breakeven.
  • Ross Stores - The retailer's stock rose 16.7% in premarket trading after announcing a profit above analysts' expectations in the third quarter.

 

In other news:

  • Meta Platforms - Mark Zuckerberg told employees Thursday that WhatsApp and Messenger would be the next growth driver for the company.
  • Amazon announced Thursday that job cuts are expected to continue next year.
  • Tesla will recall nearly 30,000 Model X vehicles for an airbag problem, a filing with the U.S. National Highway Traffic Safety Administration shows.
  • Visa announced Thursday that it has promoted Ryan McInerney to chief executive officer effective February, replacing Alfred Kelly Jr, who had led the group since 2016.
  • KKR & Co - The U.S. private equity firm is seeking to sell Canadian oil and gas producer Westbrick Energy in a deal valued at C$1.5 billion to C$2.0 billion.
  • Merck KGaA will restart the process of selling its pigments business, valued at $1bn.
  • Credit Suisse Wealth Management is focusing on growth markets and ultra-rich clients.
  • Boeing will reorganize its defense branch into four divisions.
  • Eni and Sonatrach join forces to develop solar energy in Algeria.
  • Hasbro is considering the partial sale of eOne's TV and movie business.
  • Advanced Micro Devices and Analog Devices resolve patent dispute.
  • Temenos passes 850 customer mark on its digital banking platform.
  • Volkswagen, BMW, and Mercedes back in the hot seat for measuring vehicle emissions.
  • Siemens Energy is to supply gas turbines for EnBW's district heating plant.
  • Holcim hires Nestlé executive as new CFO.

 

Main earnings reports today: Li Auto, Foot Locker, Bekaert, TotalEnergies... All the agenda is here