US:

  • Sylvamo reported a Q3 revenue of $965M, alongside a rise in adjusted operating earnings and net sales.
  • Chipotle Mexican Grill has appointed Scott Boatwright as its permanent CEO after an extensive search, amid facing a lawsuit from shareholders over alleged inconsistencies in portion sizes that purportedly led to increased costs and a decline in stock price.
  • AstraZeneca plans to invest $3.5 billion to expand its research and manufacturing capabilities in the US by 2026, while also progressing with new drug applications and reporting strong financial results, despite concerns over the detention of its China president.
  • Healthcare stocks fluctuated as AbbVie's failed drug trial and Humana's merger uncertainty led to declines, while Bristol-Myers Squibb gained after unfavorable competitor data, and Richter's CEO confirmed positive guidance following a strong quarter.
  • The Home Depot fiscal Q3 earnings exceeded expectations, prompting the company to raise its fiscal 2024 outlook due to strong demand from professional contractors and increased hurricane-related spending.
  • Gatos Silver Q3 2024 financial results showed a significant improvement with net income increasing to $9.9 million from $3.3 million, and revenue growing 40%.
  • Tesla stock price surged due to a potential alliance with Trump, boosting its valuation significantly, while Starlink seeks security clearance in India, amidst generally lower premarket stocks on Wallstreetbets.
  • Shopify reported a rise in Q3 profit and revenue, surpassing forecasts and delivering an optimistic holiday outlook, attributed to the success of its AI-powered tools that are attracting more merchants to its platform.
  • At the Zhuhai air show, China's state-owned aerospace company unveiled its first commercial uncrewed spaceplane, while Boeing secured an order for 40 737 MAX jets from Avia Solutions Group, announced the retirement of its quality chief Elizabeth Lund, and saw a rise in shares amid optimism about Trump's policy.
  • The European Commission has notified Apple to cease its geo-blocking practices within a month following a joint investigation that revealed potential non-compliance with EU anti-geo-blocking regulations.

Today's main earnings reports: The Home Depot, Shopify, Spotify, Sea Limited, Occidental Petroleum, Flutter Entertainment, Live Nation, BeiGene, Tyson Foods, Tencent Music Entertainment Group…

Europe and Asia:

  • Evotec soared 17% after rumors of a takeover by Triton.
  • Moncler was not in talks to buy Burberry, according to Reuters.
  • Bayer cut its operating profit forecast.
  • AstraZeneca reported higher attributable profit and total sales in the third quarter and raised its guidance.
  • BAE Systems was confident of profit growth.
  • Infineon forecasted ‘moderate’ sales for 2025 after achieving sales in line with expectations in the fourth fiscal quarter.
  • Siemens Energy won a $1.3 billion order for ScottishPower wind turbines.
  • Iveco and Leonardo reached a preliminary agreement to form a joint venture with Rheinmetall, with Iveco holding 12-15%, to develop and produce combat vehicles for the Italian army.
  • Temenos unveiled its new strategic plan and targets for 2028.
  • Vodafone said it was on track to meet its targets despite weakness in Germany.
  • The FCA fined Metro Bank for anti-money laundering failings.
  • Mediobanca exceeded its estimates for the first fiscal quarter.
  • Brenntag failed to meet core earnings estimates for the third quarter due to high costs.
  • Saab proposed to sell Gripen fighter jets to Colombia and was considering a deal with Peru.
  • Lonza expanded its bioconjugates capacity in Visp.
  • Maire offered additional voting rights to long-term shareholders.
  • Partners Group engaged banks for the potential listing of conveyor belt manufacturer Ammega.
  • The Italian government approved Lufthansa’s potential investment in state-owned ITA Airways.
  • Alibaba claimed to have attracted a record number of buyers on Singles' Day the previous night.
  • Nissan shares jumped more than 20% after activist Effissimo took a stake.
  • SoftBank returned to the green in the second quarter.
  • COMAC announced that Air China would be the first customer for the C929 wide-body jet currently under development.
  • Baidu strengthened its AI range with an image-based text generator and a code-free application builder.
  • Recruit Holdings suffered a 15% fall in net profit in the first half of the financial year.

Today's main publications: AstraZeneca, SoftBank, Alcon, Infineon Technologies, Bayer, Vodafone Group, CEZ, EnBW, Mediobanca, Brenntag...