Corporate results:

  • BASF announces 2023 EBIT of €3.81 billion, close to consensus (€3.85 billion).
  • Deliveroo forecasts slightly better-than-expected earnings for 2023.
  • SFS reports sales up 12.6% to CHF 3.09 billion in 2023, at the lower end of the forecast range.
  • Zehnder announces sales down 6% to €762.1 M in 2023.

In other news:

  • Meta joins OpenAI and Google in the general AI race.
  • Spanish regulator sends request for information to Grifols shareholder Scranton.
  • Rumors circulate of a reduction in the Italian state's stake in ENI (digression: a podcast on Enrico Mattéi, who was the soul of ENI).
  • AWS (Amazon) to invest $15 billion to develop cloud computing in Japan.
  • Google to invest £1 billion in UK data center.
  • KKR invests in Vietnamese eye hospital Medical Saigon Group.
  • Just Eat Takeaway terminates its Paris delivery service, Scoober, which could affect around 100 jobs.
  • Macy’s - The American department store chain announced on Thursday evening its intention to cut 2,350 jobs and close five stores, as part of a rationalization of its activities.
  • Boeing announced on Friday that it did not expect any significant delays in aircraft deliveries to India due to problems with the 737 MAX 9. In addition, an Atlas Air Boeing 747-8 freighter was forced to make an emergency landing at Miami International Airport after its engine, manufactured by General Electric, malfunctioned shortly after takeoff.
  • Spirit Airlines has asked JetBlue Airways to appeal a federal judge's decision to block the merger between the two groups, according to people familiar with the matter. Spirit Airlines also said Friday that it was evaluating options to refinance some of its debt maturities, as some analysts worry about the airline's ability to stay afloat, sending the stock up 15% before the open.
  • Ford Motor said Friday it would cut production of its F-150 Lightning pickup, citing a lower-than-expected rise in demand for electric vehicles in 2024.
  • Amazon announced Friday that its Amazon Web Services (AWS) division plans to invest 2,260 billion yen in Japan by 2027 to develop its cloud services, which are underpinned by artificial intelligence (AI) offerings.
  • Apple - The European Commission is seeking the views of the group's competitors and customers on concessions offered by Apple to escape EU antitrust charges, the Commission said on Friday.
  • IRobot - According to the Wall Street Journal, the European Commission is considering blocking Amazon's $1.4 billion acquisition of the maker of autonomous vacuum cleaners. iRobot shares plunge 35.9% in premarket trading.
  • Comerica announced on Friday that it expects net interest income (NII) to fall by 11% in 2024, as the group pays out more interest on deposits while seeing a slowdown in loan demand.
  • SLB beat consensus for its quarterly profit on Friday, as offshore and foreign drilling activity supported demand for its oilfield services and equipment.
  • Synchrony Financial has agreed to acquire the financing business of Ally Financial, a consumer credit specialist, the two companies announced on Friday.
  • The Travelers said Friday that its fourth-quarter profit had more than doubled, thanks to strong underwriting, higher investment returns and lower losses.
  • VF CORP - Sneaker maker Vans announced on Thursday that the cyberattack it suffered in December involved the personal data of around 35.5 million customers. The group says it does not expect any significant impact on its finances.
  • Citigroup- Chief Executive Jane Fraser discussed with group executives on Thursday the bank's vast restructuring plan, which eliminated management positions this week, according to two sources close to the matter.
  • JPMorgan Chase - The bank announced Thursday that the compensation of its chief executive, Jamie Dimon, had increased by about 4.3% to $36 million for 2023.
  • Walmart announced on Thursday its intention to increase the average annual salary and bonuses of its US store managers, effective February 1. The average hourly wage at the retail giant will rise to more than $18 by that date.
  • Royal Caribbean announced on Thursday that it had cancelled cruises due to the attacks in the Red Sea, while Carnival said it was working with security experts around the world and states to prioritize safety, if necessary, by modifying its itineraries.

Today's main earnings reports: Porsche AG, Schlumberger, Investor AB, State Street, The Travelers, Deliveroo, Zehnder... The full earnings calendar is here.