Corporate results

  • Endesa posted a 76% year-on-year increase in first-quarter net profit on Tuesday.
  • Evonik - Core profit contracts less than expected in the first quarter as higher prices offset some of the lost volume.
  • Fresenius Medical Care - Adjusted operating profit fell to MEUR 354 in Q1 (consensus MEUR 335). Labor shortages are easing.
  • Lucid - The stock lost 8% after posting disappointing quarterly results.
  • Under Armour - The sports equipment maker was down 2.5% in premarket trading after it issued annual sales and earnings guidance below market expectations due to slowing demand.
  • Coty again raised its annual profit target and posted better-than-expected quarterly results, helped by price increases and sustained demand for both its high-end and affordable products. The cosmetics and fragrance group was up 2% in pre-market trading.
  • PayPal Holdings was down 4.4% in after-hours trading after the payment group lowered its adjusted operating margin forecast for this year.
  • Devon Energy on Monday reported a quarterly profit above Wall Street expectations amid strong oil demand. The company also increased its share buyback program by 50% to $3 billion.
  • Western Digital said Monday that it expects to report lower-than-expected sales for the current quarter and a larger-than-expected loss, as the company believes that demand for memory chips will take longer to recover. The stock was down about 1% in after-hours trading.
  • Globalfoundries reported better-than-expected quarterly sales, a sign that chip demand is recovering.
  • Palantir Technologies said Monday it expects to make a profit in each quarter this year, thanks in part to its new artificial intelligence platform. The stock jumped about 20% in after-hours trading.
  • Skyworks Solutions fell 9.8 percent in premarket trading after the chipmaker, a supplier to Apple, reported lower-than-expected third-quarter sales and adjusted earnings.

In other news:

  • Royal DSM and Firmenich finalize their EUR 3.5 billion merger.
  • Tempur Sealy fell 9% in pre-market trading after announcing the acquisition of mattress distributor Mattress Firm, partly owned by Steinhoff International Holdings, for about $4 billion in cash and stock.
  • Ryanair will place a major B737MAX order with Boeing, according to Reuters.
  • Premier is "considering its options," including a session.
  • JD Sports Fashion in talks to acquire France's Courir for EUR 520M.
  • Credit Suisse's current CEO, Ulrich Korner, will join the UBS board.
  • The Swedish real estate group Samhällsbyggnadsbolaget, which is in difficulties, is renouncing its dividend and postponing a fund raising. The real estate companies Balder and Castellum have held up better.
  • Catalent fell 25% yesterday after cutting its forecasts and postponing the publication of its quarterly results. The market hates that.
  • Tyson Foods sank 16%, again due to lowered guidance, after an unexpected loss in the last quarter.
  • Goldman Sachs will pay $215 million to settle lawsuits over the pay of its female employees.
  • The New York Times will get about $100 million from Google over three years.
  • Czech investment group PPF increased its stake in ProSiebenSat to 13.1% in shares and financial instruments.
  • Polypeptide is moving and expanding its innovation lab in France.
  • The FDA is considering an indication extension for Roche's Vabysmo.
  • Top earnings today: Airbnb, Duke Energy, Air Products, Occidental Petroleum, Daikin, Nintendo, Itochu, Suncor, Alcon, Amadeus, Daimler Truck, Endesa, Fresenius, Grifols... The full earnings calendar is here.