Corporate results:

  • Atoss Software revised upwards its earnings forecasts for 2023.
  • Novartis raised its full-year outlook and launched a new share buyback program. Sandoz demerger approved.
  • Tele2 raised its full-year guidance for 2023 on the back of good momentum.
  • Morgan Stanley - Group earnings fell by 18% in the second quarter, as a low number of M&A deals weighed on the investment bank's revenues. Profit applicable to shareholders fell to $1.24 per diluted share for the three months to June 30, the bank said on Tuesday.
  • Bank of America - Group earnings rose nearly 20% in the second quarter, while profit applicable to shareholders rose to $0.88 per diluted share for the three months to June 30, from $0.73 a year earlier, the bank said Tuesday.
  • Omnicom Group is due to publish its quarterly accounts on Tuesday.
  • Bank of New York Mellon posted better-than-expected second-quarter adjusted earnings. Charles Schwab, whose results are also awaited, gained 1.9% in pre-market trading.

In other news:

  • Kingspan buys a controlling stake in Steico, with no obligation to launch a takeover bid for the remaining capital.
  • Tesla is due to hold an information meeting for the residents of the German state of Brandenburg on Tuesday, concerning the planned expansion of its electric vehicle and battery plant, which would make the site the country's largest in the automotive sector. In addition, according to Counterpoint Research, Tesla is expected to sell over 1.9 million vehicles this year.
  • The White House and companies such as Amazon, Alphabet and Best Buy are due to present a project this Tuesday to protect so-called smart devices against cyber-attacks.
  • Morgan Stanley and Mitsubishi UFJ Financial Group (MUFG) announced on Tuesday their intention to collaborate in the foreign exchange market and in Japanese research and equity activities for institutional clients.
  • ArgenX soared by over 30% after promising Phase II results, and takes the opportunity to launch a major $750 million fund-raising.
  • AT&T and Verizon shares plummet after revelations about lead cables.
  • Eli Lilly's experimental treatment for Alzheimer's disease "significantly" slows cognitive decline in the early stages of the disease.
  • FTC filed a suit to block IQVIA's acquisition of Propel Media.
  • Japanese chip giant Rohm will invest $722m in Toshiba buyout group.
  • SGS CFO resigns.
  • Ford lowers the price of electric SUV.
  • Prosus will remain a long-term shareholder in Tencent.
  • Berkshire Hathaway reduced its stake in Activision before judge approves merger with Microsoft. In this case, plaintiffs have gone to the Supreme Court to block the transaction.
  • FedEx hired John Dietrich as CFO.
  • Nel received €11m equipment order for project in Portugal.

Today's main earnings reports: Bank of America, Novartis, Morgan Stanley, Lockheed Martin, Charles Schwab, Vale, Epiroc, SFS... The full earnings calendar is here.