• Compagnie Financière Richemont reported a slight 1% drop in sales to €5.27 billion for fiscal Q1 (April to June), though sales were up by 1% at constant exchange rates. The jewelry division performed better than expected, in contrast to the watch division.
  • Hugo Boss has reduced its annual sales forecast due to weaker demand in China and the UK.
  • Talgo, the Spanish train manufacturer, has received a merger offer from its Czech competitor Skoda.
  • Ocado has managed to decrease its first-half loss and has raised its financial forecasts.
  • DKSH has seen a decline in revenues during the first half of the year.
  • Fitch has upgraded Pirelli's credit rating from “BBB-” to “BBB”.
  • Verizon is reportedly planning to sell thousands of towers in the USA for over $3 billion, according to Bloomberg.
  • Starboard Value has taken a 6.5% stake in Match, the owner of Tinder, as per The Wall Street Journal.
  • KKR is planning to sell the machinery manufacturer Kito Crosby for $3 billion.
  • Elon Musk has stated that he has requested more time to modify the design of Tesla's robotaxi.
  • General Motors has not reaffirmed its target to achieve a production capacity of 1 million electric vehicles by 2025.
  • Berkshire Hathaway's share price has reached a record high.
  • Walt Disney has suffered a leak of internal communications online following a hacking incident, as reported by The Wall Street Journal.
  • Rio Tinto has reported lower than expected iron ore shipments for the second quarter following a train derailment in May.
  • Paytm in India has received a warning from the market regulator regarding past transactions with its banking unit.
  • Shares of Energy Absolute, a Thai renewable energy company, have plunged by 30% amid accusations of operational misconduct.
  • Bank of America saw a decline in earnings in the second quarter due to lower interest income on loans and higher provisions for non-performing loans, yet its share price rose by 1.1% before the opening.
  • UnitedHealth reported better-than-expected earnings for the second quarter, driven by a robust performance from its healthcare services unit. However, the company has revised its estimated costs related to an earlier hack of its technology unit upward, leading to a 1.8% drop before the market opened.
  • State Street and Morgan Stanley are expected to release their results on Tuesday.
  • Tesla's shares are up 1.6% in pre-market trading after reports of CEO Elon Musk's plans to financially support a political action committee friendly to Donald Trump, with speculation about the impact of a potential Trump election victory on trade policy and regulations.
  • Philip Morris International is facing a lawsuit filed by six anti-smoking and health groups with the FDA, accusing the company of making misleading statements ahead of the U.S. launch of its IQOS heated tobacco product.
  • Today's key earnings reports include results from UnitedHealth, Bank of America, Morgan Stanley, Charles Schwab, Vale, Progressive Corporation, State Street, JB Hunt, Omnicom, Interactive Brokers, Rio Tinto, Compagnie Financière Richemont, Enskilda Banken, Swedbank, Wise, and others.