Corporate news:

  • ABB reports higher third-quarter net income and sales.
  • Adidas estimates that its operating loss will be smaller than expected this year, at around €100 million (vs. €450 million).
  • ASML believes that the new US directives restricting chip exports to China will have no material impact on its financial outlook for 2023. Q3 profit reaches €1.9 bn.
  • Just Eat Takeaway raises its outlook for 2023.
  • Lockheed Martin and Prologis are little moved after the announcement of their quarterly results.
  • United Airlines loses 4.7% after its quarterly results.
  • Interactive Brokers - The online broker fell by 3.2% in pre-market trading, even though third-quarter results were above consensus estimates. 

In other news:

  • General Motors delays production of electric pickups at its Michigan plant by a year.
  • Kering has finalized the acquisition of perfumer Creed.
  • Solvay will submit its demerger project to shareholders on December 8, 2023.
  • VMware shares suffer due to the uncertainty of Chinese regulations linked to the Broadcom agreement.
  • Nvidia does not expect any significant short-term financial impact from the new US chip export rules. It could be forced to move certain operations out of countries that fall within the scope of U.S. export restrictions.
  • Chesapeake negotiates purchase of Southwestern Energy.
  • UCB announces FDA approval of Zilbrysq (zilucoplan) for the treatment of adults with generalized myasthenia gravis.
  • Autonation withdraws its offer for Pendragon.
  • Paradox Interactive terminates partnership with Harebrained Schemes.
  • Glencore to close Australia's huge Mount Isa copper mine.
  • Infineon signs semiconductor supply agreement with carmakers Hyundai and Kia.
  • Exxon Mobil to finalize investment decision on sixth oil project in Guyana by first quarter.
  • Continental considers spinning off its automotive supplier business (Bloomberg).
  • Specialty chemicals group Lanxess cuts 870 jobs.
  • Cicor acquires UK-based STS Defence.
  • Thermo Fisher acquires proteomics solutions provider Olink in a $3.1 billion deal.
  • Chevron Australia LNG unions reach agreement on eve of strike resumption.
  • CVC Capital plans to go public.
  • Foxconn will build a new type of data center using Nvidia chips and software for a range of projects, including artificial intelligence and autonomous cars.
  • Amazon.com will become a customer of Microsoft office productivity tools, in a deal worth more than $1 billion, the Insider news site reported.
  • United Airlines lowered its fourth-quarter earnings forecast on Tuesday due to higher costs, sending its shares down more than 4% after the close.
  • Canada will take steps in the coming weeks to alleviate the housing shortage exacerbated by Airbnb and other short-term rental platforms, Finance Minister Chrystia Freeland said Tuesday.
  • Activist investor Carl Icahn has filed a lawsuit against genetic testing company Illumina, accusing it of breaching its fiduciary duties.
  • Elevance Health reported a charge of nearly $700 million for job cuts and impairments in the third quarter.

Today's main earnings reports: Tesla, Steel Dynamics, Equifax, Las Vegas Sands, PPG Industries, US Bancorp, Deutsche Börse, Northern Trust, Gecina...The full earnings calendar is here.