Having worked in the British, French and Swiss financial press, Romain is able to report on local and international issues. As comfortable in French as he is in the language of Shakespeare, Romain Fournier heads the editorial team at Marketscreener. Very knowledgeable about the English-speaking markets, Romain publishes an editorial every day on the US and UK markets.
Every day, the MarketScreener team curates the most important news from publicly traded companies around the world. Here is a brief summary for your convenience:
- HSBC: Quarterly profit before tax reached $6.51 billion
- Logitech: Second quarter fiscal revenue fell 12%.
- Medpace: Shares soared 17% in after-hours trading after reporting better-than-expected results.
- Novartis: The drugmaker suffered a 3.7% contraction in quarterly revenue to $12.54 billion and profits shrank.
- SAP: Third quarter revenue was higher than expected.
- UBS: Third quarter earnings fall but beat expectations.
- Warner Bros. Discovery: The company expects a $1.6 billion restructuring charge in the third quarter.
- 3M Co lowered its full-year earnings and revenue forecasts as the Scotch and Post-it maker expects to suffer more from inflation and a stronger dollar on the results of its overseas operations. Its shares fell 2% in premarket trading.
- General Motors rose 5% in premarket trading as sales of high-priced trucks in North America helped the automaker post a quarterly profit that beat analysts’ expectations.
- Coca-Cola raised its annual revenue forecast on expectations of stable demand for its soft drinks, whose prices have risen to offset the impact of inflation. In premarket trading, the stock gained 3%.
- General Electric reported a 19% decline in adjusted quarterly profit and lowered its full-year profit target, citing internal supply problems, inflationary pressures and weakness in its renewable energy business.
- UPS on Tuesday reported a rise in third-quarter adjusted profit as higher delivery costs offset a slowdown in online business.
- Biogen raised its profit forecast for 2022 again, thanks to a reduction in expenses.
- Health insurer Centene fell in premarket trading despite slightly better-than-expected quarterly earnings growth.
- Halliburton gained 1.8% in premarket trading after posting a larger-than-expected rise in third-quarter profit.
- Valero Energy said Tuesday it posted a better-than-expected third-quarter demand gain.
- Archer-Daniels-Midland: The grains and agricultural commodities trade group saw its third-quarter profit nearly double, thanks to strong demand and tight supply.
In other news:
- Apple is cutting the production rate of the iPhone 14 Plus due to weak demand and increasing the production rate of the iPhone 14 Pro, market research firm TrendForce reported on Tuesday. It’s also raising subscription prices for music, TV and Apple One.
- Brussels is expected to authorize the acquisition of Swedish Match by Philip Morris.
- Credit Suisse is closing in on the sale of its securitized products business.
- A shareholder of Meta Platforms (Facebook) wants the group to reduce personnel and expenses.
- No national security investigation in sight for Elon Musk (Tesla), says White House.
- Bone Therapeutics becomes BioSenic.
- Tesla cuts Model 3 and Model Y prices in China.
- Activist investor Nelson Peltz is canvassing former consumer goods chief executives to take the reins at Unilever.
- Suzano will buy Kimberly-Clark’s fabric assets in Brazil.
- Warner Bros. Discovery announced Monday that costs related to the cancellation of several shows and movies, including “Batgirl,” could reach $2.5 billion.
Today’s top earnings reports: Alphabet, Visa, Coca-Cola, Novartis, Texas Instruments, United Parcel Service, Lockheed Martin, HSBC, SAP, Air Liquide, UBS, Vinci… The entire agenda is here.