Corporate results:

  • Anheuser-Busch InBev improves Q3 results despite lower volumes, thanks to price increases and cost reductions.
  • BASF reports lower results and targets the lower end of its guidance range.
  • BBVA posts Q3 profits of €2.08 billion, slightly ahead of expectations.
  • BP Plc reports Q3 profits of $3.3 billion, but misses forecasts due to weak gas production.
  • Carlsberg reports Q3 in line with expectations.
  • Pinterest gains 16% after its quarterly results.
  • Redcare Pharmacy beats Q3 earnings forecasts and confirms guidance.
  • Welltower raises its targets. No reaction from the stock.
  • Caterpillar fell by almost 5% in pre-market trading due to a rise in dealer inventories and a drop in order backlog, indicating a slowdown in demand for equipment. However, the Group reported a rise in third-quarter earnings, driven by major infrastructure investments in key markets.
  • Pfizer reported its first quarterly loss since 2019 on Tuesday, as the pharmaceutical company recorded charges largely linked to its COVID-19 products, such as the antiviral treatment Paxlovid and the Comirnaty vaccine developed in partnership with BioNTech.
  • Amgen, which this month acquired Horizon Therapeutics for $27.8 billion, gained 2.6% in pre-market trading after reporting better-than-expected quarterly earnings.
  • Pinterest jumped 15.9% in premarket trading after reporting better-than-expected third-quarter results on Monday, amid a recovery in the advertising market.
  • Western Digital fell 6% in after-hours trading after the company announced its intention to raise $1.3 billion in capital via convertible bonds.
  • VF Corp - The owner of Vans shoes fell 6.1% in premarket trading after dropping its annual sales and profit forecasts, citing a difficult wholesale market environment in the US and fears of poor demand in the second half.
  • Marathon Petroleum gains 2.1% in pre-market trading after reporting better-than-expected third-quarter earnings.

In other news:

  • Apple presented new MacBook Pro and M3 chip family.
  • Microsoft and Siemens announced on Tuesday that they were working together on a project to use artificial intelligence (AI) to increase productivity and human-machine collaboration.
  • Unilever freezes CEO Hein Schumacher's fixed salary for two years.
  • Logitech appoints Hanneke Faber (ex-Unilever) as CEO, effective December 1.
  • Meta Platforms offers ad-free subscriptions to Instagram and Facebook in Europe.
  • Tesla suffers as battery supplier Panasonic's production cuts fuel fears about demand for electric vehicles.
  • Prysmian signs €900m contract with Clean Path New York to supply submarine and land cable systems.
  • Repsol suspends hydrogen investment plan in Spain due to tax uncertainties.
  • Roche fails in EMBARK study on Duchenne disease.
  • Vodafone sells its Spanish branch to Zegona for €5 billion.
  • Galapagos signed a letter of intent to sell Jyseleca to Alfasigma for an upfront payment of €50m and milestone payments totaling €120m. The laboratory will lay off 100 staff to cut costs.
  • BP Plc seeks partners for its US shale gas operations.
  • Intesa Sanpaolo strengthens its position in Romania with the acquisition of First Bank.
  • BlackBerry CEO steps down.
  • Nvidia tests chatbots in chip design process to make greater use of AI.

Today's main earnings report: Caterpillar, Amgen, Ecolab, Toyota Motor, Samsung Electronics, Marathon Petroleum, BP Plc, Midea Group, Advanced Micro Devices, Pfizer, Anheuser-Busch InBev, Stellantis... The full earnings calendar is here.