Corporate results:

  • Burckhardt: the group raised its ambitions after a strong first fiscal half.
  • Royal DSM: annual guidance lowered after Q3.
  • Sony: operating profit is slightly higher than expected in the last quarter.
  • Toyota: net profit is down 25%, unit sales targets reduced.
  • Pfizer raised its annual sales forecast for its COVID-19 vaccine to $34 billion on demand for its new bivalent vaccines. The pharmaceutical giant was up 3% in premarket trading.
  • Eli Lilly lowered its annual profit forecast for the third time, as a stronger dollar put more pressure on the company, which is struggling with lower insulin prices and generic competition for its cancer drug. The stock was down nearly 4% in pre-market trading.
  • Uber technologies expects to post fourth-quarter operating profit ahead of Wall Street expectations, betting on increased demand and tight control of expenses. The stock was up 9% in pre-market trading.
  • Thomson Reuters reported higher third-quarter revenue and operating income, driven by gains in its three largest divisions.
  • Marathon Petroleum reported an increase in quarterly profit on higher demand.
  • Phillips 66 gained 2.6% in premarket trading after the U.S. refiner reported a rise in quarterly profit as it benefited from rising fuel demand and a tight supply market.
  • Fox reported better-than-expected quarterly revenue, supported by a slight increase in advertising revenue ahead of the U.S. midterm elections.

 

In other news:

  • Johnson & Johnson announced on Tuesday that it would buy Abiomed in a deal valued at $16.6 billion to strengthen its cardiovascular devices business. Abiomed was up 48% in pre-market trading.
  • Apple - Foxconn announced a sharp increase in bonuses for employees at its Zhengzhou, China, plant, in an effort to retain staff at the major iPhone manufacturing facility amid growing discontent over restrictions against COVID-19.
  • Wells Fargo said the U.S. Securities and Exchange Commission, the U.S. securities regulator, has begun investigating its hiring practices after the Justice Department opened its own investigation.
  • Tesla plans to start mass production of its electric pickup Cybertruck in late 2023, two sources close to the matter said. The stock was up 1.8% in pre-market trading.
  • U.S. asset manager Atlas will be acquired by Poseidon in a deal valued at $10.9 billion, about three times the original proposal, the two groups announced.
  • Alphabet subsidiary Google is suspending a policy that requires app developers in India to use its proprietary billing system for selling digital goods.
  • Joe Biden is working with Congress on a tax on oil super-profits.
  • Elon Musk confirmed he will become CEO of Twitter.
  • Credit Suisse is not for sale, its chairman insists.
  • Cineworld signed a bankruptcy settlement with its owners and creditors.
  • Shell is buying an Asian-based waste oil recycler to increase its biofuel production.
  • The European Commission reportedly received no concessions from Microsoft in its review of the Activision takeover.
  • Delta Air Lines pilots vote overwhelmingly in favor of a strike.
  • Spotify asks UK competition watchdog to investigate Apple in audio books.
  • IMCD to buy Chinese personal care products distributor.
  • Diageo launches the latest phase of its share buyback program.
  • Zur Rose reorganizes its operations and reshuffles its management.
  • DKSH completes takeover of Canadian Terra Firma.
  • The Gap reportedly continued to sell in Russia after March, according to Reuters.
  • Clariant buys BASF's attapulgite assets in the US for $60m.
  • Cembra completes acquisition of Byjuno.
  • CIFI Holdings collapses in Hong Kong after suspending repayment of a debt maturity.

Today's main earnings reports: Eli Lilly, Mastercard, Pfizer, Toyota, T-Mobile US, Amgen, BP Plc, Advanced Micro Devices, Uber... All the agenda is here.