Corporate results:

  • ABB reported higher revenues but lower order intake in Q2. It is targeting revenue growth of at least 10% this year.
  • Givaudan saw its sales decline in the first half, but confirmed its medium-term growth targets.
  • HelloFresh revised its sales forecasts downwards, but became slightly more optimistic about earnings.
  • IBM lost 1% after the publication of its quarterly results, as sales fell short of expectations.
  • Netflix fell 8% after its quarterly results, marked by an increase in subscribers but a drop in revenues.
  • Tesla improved its Q2 results, but this did not prevent the stock from losing 4% after trading, as margins came in line with expectations, while investors hoped for more.
  • United Airlines Holding raised its full-year earnings forecast on Wednesday, after posting record quarterly profits. The company expects adjusted earnings of $3.85 to $4.35 per share for the quarter, compared with the Wall Street consensus of $3.70. 
  • Johnson & Johnson raised its earnings forecast for 2023 and posting second-quarter earnings of $2.80 per share, compared with $2.62 expected by analysts.
  • American Airlines raised its annual adjusted earnings forecast to a range of $3.00 to $3.75 per share, compared with $2.50 to $3.50 per share previously. 
  • Blackstone reported a fall of almost 40% in distributable profits in the second quarter.
  • Zions Bancorporation on Wednesday reported a rise of around 7% in deposits during the second quarter and said income from borrowers had stabilized.
  • Philip Morris International saw earnings beat expectations in the second quarter.
  • Newmont reported quarterly net earnings of $0.33 per share, against analysts' average estimate of $0.44 per share according to Refinitiv data. 

In other news:

  • Activist fund Bluebell Capital has taken a stake in Kering and is looking to change the company's fortunes, notably by considering a tie-up with Compagnie Financière Richemont, owner of Cartier, according to the latest rumors.
  • Apple joins the race for artificial intelligence.
  • Nasdaq halts plans to launch a digital asset custody business in the US.
  • Elliott acquires a stake in Catalent, according to the Wall Street Journal.
  • Fed fines Deutsche Bank $186 million for money laundering.
  • Fincantieri and Leonardo win €190m contract.

Today's main publications: Johnson & Johnson, Abbott, SAP, Philip Morris, Intuitive Surgical, ABB, Givaudan, Koné, Publicis, Essity, Dassault Aviation... The full earnings calendar is here.