Corporate results:

  • Allianz beat quarterly earnings guidance and posts a more favorable outlook for 2022.
  • AstraZeneca raised annual guidance.
  • Bpost cuts outlook due to holiday uncertainty.
  • Continental: Q3 earnings beat expectations.
  • Delivery Hero will be low end of range.
  • Deutsche Telekom raised its fiscal 2022 outlook again.
  • Generali: 2024 targets should be met.
  • Hapag-Lloyd: The logistics group's profit soars in Q3 due to higher freight rates.
  • Merck KGaA: Earnings beat consensus thanks to lab equipment and drug sales.
  • Tapestry - The luxury goods group lowered its annual revenue and profit forecasts due to restrictions against COVID-19 in China and an expected slowdown in demand in North America.
  • Rivian Automotive climbed 6.4% in pre-market trading after the electric vehicle maker confirmed its annual production target and a smaller-than-expected net loss in the third quarter.
  • Lucid Group fell 18.1% in premarket trading to $11.05, its lowest level since its July 2021 IPO, amid a decline in orders and higher costs at the auto group in the third quarter compared to the second.
  • Bumble - The online dating app publisher's stock plunged 19% in pre-market trading after it reported fourth-quarter revenue for its offbeat fiscal year below the Refinitiv consensus.
  • Beyond Meat reported a larger-than-expected net loss Wednesday as higher transportation and raw material costs weighed on its margin, and the "plant-based meat" specialist said it expects demand for its products to continue to slow.
  • Eli Lilly - A U.S. federal court on Wednesday ordered the company to pay Teva Pharmaceuticals International $176.5 million after a trial to determine whether its migraine drug Emgality infringed three patents held by the Israeli company.

 

In other news:

  • Apple - Apple's main subcontractor, Foxconn, said Thursday it expects smartphone revenue to fall in the current quarter. The group added that it was adjusting production to limit the impact of health restrictions in China at one of its factories that produces iPhones.
  • Allianz's deal to sell its Russian operations is delayed by the regulator.
  • Robinhood has no direct exposure to FTX, CEO says.
  • Hasbro announced Wednesday that its chief financial officer Deborah Thomas is leaving the company and said it is working to replace her through internal and external reviews.

Today's main earnings reports: Taiwan Semiconductor, AstraZeneca, Deutsche Telekom, Allianz, Merck KGaA, Zurich Insurance, Engie, Hapag-Lloyd, Credit Agricole, Generali, Bridgestone... All the agenda here.