Top Market News for US/CAN/EU
Alphabet Inc (Google, YouTube, TikTok): EU industry chief Thierry Breton is set to request child protection explanations from Google’s YouTube and TikTok, aligning with the new EU Digital Services Act.
Alphabet Inc and Meta Platforms Inc: Google, Meta, and TikTok receive backing from the EU’s top court against an Austrian law on hate speech, aligning with the new Digital Services Act.
AMC Entertainment Holdings Inc: Beats Q3 revenue estimates, benefiting from successful movies and increased theater attendance.
Ameren Corp: Raises the lower end of its full-year profit forecast, citing reduced expenses and new service rates.
Apple Inc: Apple’s VP for Sustainability, Lisa Jackson, states the company doesn’t charge a premium for carbon reduction efforts.
Apple’s Setback: Faces challenges in its fight against the EU’s $14 billion tax order, as an adviser suggests a review of the case.
Arm Holdings Plc: Gives a fiscal Q3 sales outlook below Wall Street estimates, citing a deal delay.
AstraZeneca Plc: Raises annual earnings forecast, driven by strong demand for cancer drugs and a deal in the anti-obesity market.
Atmos Energy Corp: Reports a rise in Q4 profit, driven by higher prices and customer growth, and forecasts higher earnings in 2024.
Beyond Meat Inc: Misses Q3 revenue expectations, citing weakness in demand for plant-based meat in the U.S.
Brookfield Corp: Proxy advisor CGI Glass Lewis recommends Origin Energy shareholders vote for a $10.5 billion bid, despite opposition.
Brookfield’s Bid for Origin Energy: Second proxy advisor CGI Glass Lewis backs the $10.5 billion bid despite opposition from the target’s largest shareholder.
Chevron Corp: An “electrical incident” in October reduces LNG output at Chevron’s Gorgon facility in Western Australia to 80% of capacity.
Corteva Inc: Reports a smaller Q3 loss, helped by higher prices for seeds, but sees a decline in sales volumes.
Deutsche Bank AG: Deutsche Bank invests more in Asia Pacific markets amid Sino-U.S. tensions, focusing on higher growth regions for increased profit margins.
Eli Lilly and Co: Eli Lilly: FDA approves Eli Lilly’s weight loss drug tirzepatide, potentially impacting hard-to-treat areas like substance abuse.
Excelerate Energy Inc:Goldman Sachs Group Inc: Expects subdued dealmaking in the medium term due to macroeconomic conditions affecting private equity transactions.
Fair Isaac Corp (FICO): Reports higher profit for Q4, driven by strong performance in scores and software businesses.
Fleetcor Technologies Inc: Lowers full-year adjusted profit forecast, citing economic uncertainty and costs tied to recent acquisitions.
Google, Meta, TikTok Win Court Fight: Backing from Europe’s top court against an Austrian law requiring deletion of hate speech or facing fines.
Grab Holdings Ltd: Reports its first-ever adjusted core profit for Q3, driven by cost reduction and strong demand for food delivery and ride-share services.
Instacart Inc: Forecasts Q4 core profit above Wall Street estimates, announces a $500 million share repurchase program.
Lazard Ltd: New sustainability-linked regulations in Europe create confusion for investors, with concerns raised about competing standards.
Lyft Inc: Reports Q3 revenue and profit surpassing estimates, but gross bookings growth lags behind Uber’s.
Manulife Financial Corp: Reports better-than-expected Q3 earnings, boosted by insurance sales in Asia and higher returns on investment.
MGM Resorts International: Beats Q3 profit and revenue estimates, benefiting from easing pandemic-related entry restrictions.
Morgan Stanley: U.S. Federal Reserve scrutinizes Morgan Stanley’s wealth management, focusing on controls to prevent money laundering.
Netflix Inc: Spends $70 million to restore a theater for premieres; reaches a tentative deal with Hollywood actors, ending a 118-day strike.
Nvidia Corp: Plans to release three new chips for China despite U.S. restrictions on certain AI chips, signaling ongoing market engagement.
Occidental Petroleum Corp: Explores selling technology licenses for carbon capture, following investment for its first large-scale plant to mitigate global warming.
Polestar Automotive Holding UK Plc: Trims 2023 delivery forecast and gross margin target amid fears of a slowdown in EV demand.
President Biden and UAW’s Fain: To meet and laud union’s deals with Detroit automakers, ending a nearly 45-day strike.
Rogers Communications: Met Q3 revenue estimates due to increased immigration supporting demand for wireless and internet services.
Stellantis NV: President Biden highlights tentative contract agreements between the UAW and Detroit’s Big Three Automakers, emphasizing gains for workers.
Suncor Energy: Beat Q3 profit estimates on stable demand for refined products, aided by strong refining margins and higher sales volumes.
Take-Two Interactive Software Inc: Forecasts Q3 net bookings below market expectations, citing a slowdown in spending on gaming titles.
Tesla Inc: Raises prices on Model 3 and Model Y long-range vehicles in China; recalls 159 Model S and Model X cars due to airbag deployment risk.
Twilio Inc: Forecasts Q4 profit above Wall Street estimates, driven by an increase in active customer accounts.
Viasat Inc: Reports Q2 revenue beating estimates, driven by strength in the satellite-based broadband services segment.
Virgin Galactic Holdings Inc: Announces layoffs, expects annual savings of $25 million, and forecasts Q4 revenue of about $3 million.
Walt Disney Co: Exceeds Wall Street’s earnings expectations for Q4, driven by higher attendance at theme parks.
Wix.com Ltd: Reports a higher-than-expected rise in Q3 net profit and raises its 2023 revenue estimate due to outperformance.
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