Global markets live: Puma, Unicredit, 3M, GE, Verizon, Dow, Nucor...
Every day, the MarketSCreener team selects the most important news about listed companies. Here's a short recap for your convenience:
Corporate results:
- Cadence Design lost 4% post-trade after its results.
- Logitech improves its quarterly profitability and raises its forecasts.
- Nidec down 10% after disappointing results.
- Novartis raises its earnings forecasts.
- Puma confirms its outlook despite lower third-quarter operating profit.
- Sandoz reports a rise in nine-month sales and confirms its outlook.
- Unicredit raises its annual forecast.
- 3M Co raised its full-year adjusted earnings forecast on Tuesday, and now expects adjusted earnings per share of between $8.95 and $9.15, compared with a previous forecast of $8.60 to $9.10 per share. .
- General Electric on Tuesday raised its full-year earnings forecast on the back of strong demand for jet engine parts and services, and good performance in the renewables business. The company now expects adjusted earnings per share in 2023 of $2.55 to $2.65, compared with a previous forecast of $2.10 to $2.30.
- Verizon raised its annual free cash flow forecast, as promotions and the wireless operator's 5G network helped it attract more subscribers than expected in the third quarter. The company now expects annual free cash flow to exceed $18 billion, up $1 billion on its previous forecast.
- Coca-Cola raised its full-year sales forecast, and now expects organic sales growth of 10% to 11% for the full year, compared with 8% to 9% previously forecast.
- Synchrony Financial - On Tuesday, the bank reported net interest income for the quarter of $4.36 billion, compared with $3.93 billion a year ago.
- General Motors dropped its earnings forecast for 2023 and its near-term electric vehicle production outlook in the face of strike-related costs, but reported better-than-expected third-quarter performance.
- RTX reported a quarterly loss of nearly $1 billion , as the aeronautical equipment manufacturer suffered from problems affecting the quality of its Geared Turbofan (GTF) engines. The company also indicated that it had approved a $10 billion share buyback program.
- Dow reported adjusted earnings of 48 cents per share for the quarter ended September 30, against analysts' average estimate of 44 cents per share.
- Nucor reported higher-than-expected quarterly earnings, albeit down year-on-year.
- Brown & Brown said that total revenues rose 15.1% in the third quarter to around $1.07 billion, as the insurance broker earned more commissions and fees.
In other news:
- Nvidia plans to manufacture computer chips based on ARM Holding technology for Windows PCs, which should not please Intel and Advanced Micro Device.
- Lockheed withdraws from its duet with Airbus for US Air Force tankers and gives Boeing's KC-46 a boost.
- Viaplay is in talks with shareholders, including Vivendi and Schibsted, and lenders with a view to recapitalization.
- Roche settles patent dispute with Biogen over its blockbuster rheumatoid arthritis drug.
- Shell signs agreement to extend partnership with Oman LNG.
- Dufry establishes a joint venture with China's Hubei Airport.
- Juventus approves the principle of a €200 million capital increase.
- DSV launches a share buyback program worth up to DKK 2.5 billion.
- Accenture acquires MNEMO Mexico.
- International Flavors & Fragrances is considering a sale of its pharmaceutical solutions business, Bloomberg News revealed on Monday. The division could fetch around $3.5 billion on sale.
Campbell Soup said Monday that its $2.33 billion acquisition of Sovos Brands was postponed until next year after the U.S. Federal Trade Commission requested more details on the deal.
Today's earnings reports: Hermès, Kering, The Coca-Cola Company, General Electric, Verizon, Microsoft, Raytheon, Fiserv, Danaher, Illinois Tool Works, Waste Management, Visa, Novartis AG, Texas Instruments, Alphabet ...All the agenda here.