Corporate results:

  • BE Semiconductor: the group expects a change between 0 and -10% of its activity in fiscal Q1.
  • Fresenius: 2023 results are expected to decline.
  • Iberdrola: expects net profit to rise 8-10% in 2023, before Spanish windfall tax.
  • Lloyds: profit for 2022 declined.
  • Rio Tinto: 2022 profit fell 38% and is below expectations. Dividend reduced to USD 4.92 per share.
  • Siegfried: closes 2022 on higher earnings but below AWP forecasts.
  • UCB: results are down in 2022. Revenue is expected to decline again this year, with an expected Ebitda margin of 22.5-23.5%.
  • Palo Alto raised its full-year profit forecast as demand for cybersecurity products remains strong.

 

In other news:

  • Fresenius will give up control of Fresenius Medical Care, changing its legal form from a limited partnership (KGaA) to a joint stock company.
  • Brookfield consortium reduces its offer for Origin Energy to AUD 8.90 per share.
  • Tesla will move some EV battery production from Germany to the U.S., taking advantage of benefits offered by Washington.
  • Chesapeake will sell its shale oil assets to chemical maker Ineos for $1.4 billion, according to the Wall Street Journal.
  • Shell is exploring options for its European retail gas and power unit, Bloomberg reported.
  • BYD is launching in Germany.
  • Givaudan is buying a cosmetic ingredients portfolio from Amyris.
  • AMC shareholders is suing the company for voting to issue new shares.
  • Steven F. Mayer resigned as executive chairman of Spanish pharmaceutical company Grifols, citing health and other personal reasons.
  • KKR extended its non-binding offer for Telecom Italia's fixed-line network by four weeks to March 24, following a government request.
  • Philips will not pay bonuses to its executives for 2022, after a poor year.
  • Baidu jumped 7.8% in pre-market trading on Wall Street after the Chinese internet search engine reported better-than-expected fourth-quarter revenue and announced a share buyback plan of up to $5 billion.
  • Coinbase Global fell 1% in pre-market trading as the cryptocurrency exchange platform reported a fourth-quarter net loss of $557 million on Tuesday, compared with a profit of $840 million a year earlier.

Top earnings reports today: Nvidia, Rio Tinto, Iberdrola, Pioneer Natural Resources, Stellantis, Baidu, Lloyds, Danone, Genmab, eBay, Aena, Wolters Kluwer... All the agenda is here.