Company results:

  • Bayer : Ebitda for the first quarter exceeded expectations.
  • Munich Re: the reinsurer will take a charge of nearly €700m on Russia.
  • Sony: the quarterly operating result is a bit short. The group will buy back an additional 2% of shares.
  • AMC Entertainment - The movie theater operator reported better-than-expected quarterly revenue and a narrowed net loss
  • Peloton Interactive - The sports equipment maker reported a 23.6% decline in quarterly sales due to weak demand.

 

Important announcements:

  • Philip Morris is in talks to buy Swedish Match.
  • Tesla halts production at Shanghai plant due to supply issues.
  • The Carlyle Group will acquire NSM Insurance from White Mountains for $1.78 billion.
  • Microstrategy sinks 25% due to its exposure to Bitcoin.
  • Saipem is working to complete a €2B capital increase in the summer.
  • Gay dating app Grindr is to go public via SPAC Tiga Acquisition.
  • Pfizer announced on Tuesday that it is buying migraine drug maker Biohaven Pharmaceutical for about $11.6 billion in cash.
  • Novavax announced that it had shipped only 31 million doses of its COVID-19 vaccine in the first quarter out of the two billion it expects to sell this year.
  • Microsoft announced that it will cover travel expenses that its employees may incur in connection with an elective termination of a pregnancy as the U.S. Supreme Court may end the constitutional right to abortion.
  • Meta, Facebook's parent company, is considering reducing the amount of commissions it pays to media groups as part of a re-evaluation of its partnerships in recent years, The Information reported Monday.
  • Match Group, the owner of Tinder, is suing Google, a subsidiary of Alphabet, in California for anti-competitive practices in the Play Store, the application store of the Internet giant.
  • About 20 U.S. Internet service providers have pledged to lower rates or increase speeds for millions of low-income households, U.S. President Joe Biden said Monday.
  • Lucid Group - The U.S. electric vehicle maker announced Tuesday that it plans to market premium sedans in Europe later this year to expand its presence beyond the United States.
  • Halliburton - Shareholder advisory firm Institutional Shareholder Services (ISS) on Monday recommended voting against the oilfield services group's proposed executive compensation package.

Top earnings reports of the day: Sony, Bayer, Occidental Petroleum, Suncor, Nintendo, Mitsubishi Corporation, Daikin, Alcon, Porsche, Eiffage...