BP Beats Expectations; Boosts Buyback

BP posted a higher-than-expected annual profit, joining others in the sector in showing resilience despite volatile energy prices, but its results were weaker than the prior-year's record numbers. 


 
UBS Posts Mixed Results; to Restart Buybacks

UBS said it will resume share buybacks in 2024 after it reported a net loss for the fourth quarter that was slightly better than forecast, although underlying profits and revenue fell short.. 


 
Infineon Cuts Sales Guidance on Weak Demand

Infineon lowered its sales forecast for fiscal 2024 by about 2% after first-quarter revenue missed expectations and as the company reckoned with months of weak demand for chips in personal electronics. 


 
Novartis Boosts Oncology Portfolio with MorphoSys Buy

Novartis has agreed to buy cancer specialist MorphoSys for EUR2.7 billion , with the deal expected to close in the first half of 2024. 


 
Toyota Motor's Solid Third-Quarter Earnings Send Shares to Record High

The carmaker reported higher profit and raised its fiscal-year forecast, sending its shares to a record intraday high, as sales grew thanks partly to strong demand and an easing semiconductor shortage. 


 
KDDI Plans to Acquire Further Stake in Japan Convenience-Store Operator

KDDI plans to spend around $3.3 billion to significantly increase its stake in Lawson, one of the largest convenience-store operators in Japan, and jointly operate it with current parent Mitsubishi Corp. 


 
Nintendo Raises Guidance on Stronger Sales of Switch Console, Software

Nintendo raised its fiscal-year earnings forecasts as it expects stronger sales of its Switch console and software. 


 
Why the FAA Still Can't Fix Boeing

The current system relies on the plane maker, not regulators, to ensure that jets are produced properly. 'We're not their quality department,' said a former senior FAA official. 


 
WeWork Landlords Challenge Unpaid Rent as Violation of Bankruptcy Law

Withholding some rent payments has been a 'massive success' in bringing landlords to the negotiating table, a WeWork lawyer says. 


 
Virgin Galactic Reports Flight Issue to FAA

Company says an alignment pin detached during its most recent spaceflight, but that it didn't pose a safety risk to the crew on board.


(END) Dow Jones Newswires

02-06-24 0515ET