Corporate results:
- ABN Amro: Quarterly results were better than expected, despite the bank's cost increases.
- Ahold Delhaize: Bol's proposed IPO is delayed. The retailer raised its earnings per share and free cash flow forecasts.
- Alcon: The group reduces its 2022 forecast.
- Evonik: The German chemical company posted Q2 Ebitda of €728M, slightly higher than consensus expectations.
- Honda: The automaker reported a 9% drop in fiscal Q1 profit, but beat estimates.
- Toshiba: The Japanese company posted a surprise quarterly operating loss due to higher material costs.
- Vestas: The wind turbine maker reports lower than expected Q2 results.
- Foxconn, one of Apple's main suppliers, issued a cautious forecast for the current quarter on Wednesday, citing a slowdown in smartphone demand.
- In addition, Bofa Global Research has added Meta to its "US 1 list" of U.S. stocks it recommends to its clients and removed Alphabet.
- Coinbase - The cryptocurrency exchange reported a larger-than-expected quarterly loss on Tuesday, the result of a more than 50 percent drop in trading volumes, a decline the company expects to continue in the current quarter.
- Roblox - The online video game group reported lower than expected quarterly results on Tuesday.
- SoftBank announced plans to reduce its stake in Chinese online retail giant Alibaba from 23.7% to 14.6%.
- Wendy's reported same-store sales growth in the U.S. below market expectations due to inflation.
In other news:
- Tesla - Elon Musk, the chief executive of the electric vehicle maker, sold $6.9 billion worth of shares, explaining that the proceeds could partially fund a deal with Twitter at the end of ongoing legal proceedings.
- Ferrovial is considering options for its 25% stake in Heathrow Airport.
- Sika's acquisition of MBCC is delayed after UK investigation.
- Taiwan wants Foxconn to divest its stake in China's Tsinghua.
- Meta Platforms announced Tuesday night that it had raised $10 billion in its first-ever bond issue, a move that will allow it to finance share buybacks and new investments, among other things.
- Bone Therapeutics merges with Medsenic.
Main earnings reports today: Walt Disney Company, Hon Hai Precision, Honda Motor, Coupang, Prudential, Ahold Delhaize, Vestas, Genmab, Fujifilm, Evonik, ABN Amro... All the agenda is here.