Corporate news:
- Advanced Micro Devices: the stock gains 1.4% after better-than-expected Q4 results.
- Amgen: Q4 results are quite good, but the stock is not moving much after the session.
- Electronic Arts: the video game publisher misses the quarterly consensus, causing the stock to drop more than 10% in after-hours trading.
- GSK: reports fourth-quarter profit and revenue above estimates.
- Novartis: Full-year revenue below expectations but profitability beats consensus.
- Novo Nordisk: expects sales growth between 13% and 19% in 2023.
- PayPal to cut nearly 7% of its global workforce.
- Snap: stock loses 15% in after-hours trading after announcing a net loss in the fourth quarter and pessimistic forecasts
- Software AG: the group is targeting a lower than expected operating margin in 2023.
- Vale: the Brazilian mining giant's Q4 production came in below expectations.
- T-Mobile US and Meta Platforms are expected to release their quarterly results after the close.
In other news:
- The rout of Adani Enterprises and its subsidiaries continues in Mumbai, after attacks by short seller Hindenburg.
- Contemporary Amperex Technology may launch a secondary listing in Zurich.
- Credit Suisse is considering transferring its private equity business to the First Boston spin-off.
- BMW raises prices on some models in China due to rising costs.
- After poor performance, Intel is cutting executive pay.
- Tesla is reportedly looking to build an assembly plant near the new Mexico City airport.
- Short seller Quintessential Capital Management pins Darktrace.
Today's main earnings reports: Meta Platforms, Alibaba, Novo Nordisk, Costco Wholesale, Thermo Fisher, T-Mobile, Novartis, Keyence, Glencore, GSK, Vodafone, BBVA, Orsted... All the agenda is here.