Corporate results:

  • Alcon reports Q3 results in line with expectations, and tightens its guidance to the lower end of the initial range.
  • Infineon announces higher-than-expected sales for 2023.
  • Siemens Energy expects another multi-billion loss in wind power.
  • SoftwareONE reports an increase in third-quarter sales, but revises its full-year guidance downwards.
  • Target on Wednesday forecast a profit well ahead of Wall Street expectations for the current holiday quarter, as the retailer benefited from lower supply chain costs and efforts to control inventory, sending the stock up 10% in pre-market trading. In its wake, competitor Walmart gained 0.7%.
  • advanced 2.9% in premarket trading as the Wall Street-listed Chinese e-commerce group reported a jump in earnings amid easing supply chain tensions.
  • Getty Images fell 6% in after-hours trading after lowering its full-year sales forecast due to difficult market conditions and the impact of the Hollywood strikes.
  • Canoo climbed 8.7% in pre-market trading, as the electric vehicle manufacturer scaled back its spending plans for the second half of the year amid a slowdown in the market. The group also expects a smaller-than-expected operating loss during this period.

In other news:

  • Berkshire Hathaway announced on Tuesday evening that it had sold its stakes in General Motors and Procter & Gamble, and reduced its stake in AMAZON to 5% in order to increase its liquidity. On the other hand, the conglomerate controlled by billionaire Warren Buffett took a stake in Sirius XM Holdings, boosting the latter by 3.9% in pre-market trading.
  • Wells Fargo will cut around 50 positions in its investment banking division as part of a year-end restructuring, a source informed of the matter said on Tuesday.
  • Spirit Airlines jumps 4.2% in pre-market trading after announcing the extension of its revolving credit facility to September 30, 2025.
  • The German government grants Siemens Energy a €7.5 billion guarantee.
  • Germany's Aurelius buys The Body Shop from Natura for €238 million.
  • Reckitt announced that Chris Sinclair will step down as Chairman after nine years, and that Jeremy Darroch will succeed him at the conclusion of its Annual General Meeting in May 2024.
  • Pfizer halts certain UK operations and cuts 500 jobs.
  • Charter Communications must pay a $25 million penalty for unauthorized share buybacks, according to the SEC.
  • Airbnb buys GamePlanner.AI to accelerate artificial intelligence capabilities.
  • Also acquires Austrian Target Holding.

Today's main earnings reports: Tencent, Palo Alto Networks, Infineon, Netease, Siemens Energy, Experian, NIBE... All the agenda is here.