Corporate news:

  • Advanced Micro Devices: the stock gains 1.4% after better-than-expected Q4 results.
  • Amgen: Q4 results are quite good, but the stock is not moving much after the session.
  • Electronic Arts: the video game publisher misses the quarterly consensus, causing the stock to drop more than 10% in after-hours trading.
  • GSK: reports fourth-quarter profit and revenue above estimates.
  • Novartis: Full-year revenue below expectations but profitability beats consensus.
  • Novo Nordisk: expects sales growth between 13% and 19% in 2023.
  • PayPal to cut nearly 7% of its global workforce.
  • Snap: stock loses 15% in after-hours trading after announcing a net loss in the fourth quarter and pessimistic forecasts
  • Software AG: the group is targeting a lower than expected operating margin in 2023.
  • Vale: the Brazilian mining giant's Q4 production came in below expectations.
  • T-Mobile US and Meta Platforms are expected to release their quarterly results after the close.

 

In other news:

  • The rout of Adani Enterprises and its subsidiaries continues in Mumbai, after attacks by short seller Hindenburg.
  • Contemporary Amperex Technology may launch a secondary listing in Zurich.
  • Credit Suisse is considering transferring its private equity business to the First Boston spin-off.
  • BMW raises prices on some models in China due to rising costs.
  • After poor performance, Intel is cutting executive pay.
  • Tesla is reportedly looking to build an assembly plant near the new Mexico City airport.
  • Short seller Quintessential Capital Management pins Darktrace.

Today's main earnings reports: Meta Platforms, Alibaba, Novo Nordisk, Costco Wholesale, Thermo Fisher, T-Mobile, Novartis, Keyence, Glencore, GSK, Vodafone, BBVA, Orsted... All the agenda is here.