Corporate results:

  • Netflix announced Tuesday evening that it lost 200,000 subscribers in the first quarter, the first time this has happened in more than a decade, and said it expects this trend to continue in the second quarter.
  • Vale: Brazilian group's iron ore production comes in below expectations in Q1.
  • Procter & Gamble raised its annual revenue forecast on Wednesday, as demand for consumer staples remained strong despite a rate increase.
  • Baker Hughes  reported an increase in first-quarter profit from the same period a year ago, as soaring commodity prices supported drilling activity and demand for oilfield services.
  • Danone: Targets confirmed after Q1 figures show organic growth of 7.1%, slightly more robust than expected.
  • L'Oréal: Q1 organic growth better than expected.
  • ASML: Q2 revenues will be between €5.1 and €5.3 billion, below expectations due to production constraints. Q1 exceeded expectations and backlog is strong.
  • Credit Suisse: The bank expects a loss in Q1, after CHF 700m of provisions taken on ongoing litigation.
  • Heineken: Q1 sales volumes are better than expected.
  • International Business Machines: Quarterly results are slightly stronger than expected, despite Russia exit.
  • Just Eat Takeaway: Q1 orders are below expectations, the company lowered its full-year guidance and is pondering on the future of GrubHub.
  • Omnicom - The advertising group posted better-than-expected first-quarter results.
  • Anthem - The health insurance company raised its full-year adjusted profit forecast on Wednesday, helped by strong results from its Medicaid division.
  • Abbott reported a 36% increase in first-quarter profit on Wednesday, buoyed by demand for its Omicron variant coronavirus tests.

 

In other news:

  • Apparently, big investment funds are reluctant to write Elon Musk a blank check for Twitter. Musk posted on Twitter Tuesday the message "___is night" after announcing last week a $43 billion hostile takeover bid for the social network.
  • Dufry and Autogrill are reportedly thinking about merging, according to Bloomberg.
  • Royal DSM sells its Protective Materials division to Avient for €1.44 billion.
  • Ramsay Health Care received a takeover offer of AUD 88 per share from a consortium led by KKR.
  • Deliveroo appeals its conviction for concealed work in France.
  • Avient - The specialty polymer materials maker said Wednesday it has reached an agreement with DSM to buy its protective materials division for $1.48 billion.
  • Uber, Lyft - The two VTC services specialists lifted mask requirements for drivers and passengers in the United States on Tuesday.
  • Alphabet-owned YouTube announced Wednesday that it has blocked the account of John Lee, Beijing's candidate to become the next chief executive in Hong Kong next May, as part of U.S. sanctions. .

Main earnings reports: Tesla, Procter & Gamble, ASML, Abbott, Rio Tinto, Heineken, Danone, CRH, Sandvik, Carrefour, ASM International, Just Eat, Royal Vopak...