Corporate results:

  • Anheuser-Busch Inbev: Q2 adjusted Ebitda looks a bit below expectations.
  • Banco Santander: Q2 earnings come in slightly higher than expected at €2.35bn.
  • Best Buy - The electronics retailer issued a warning on its annual results due to a decline in customer spending with inflation.
  • Carlyle reported a 34% increase in second quarter distributable earnings due to asset disposals.
  • Comcast said subscriber growth in its broadband and streaming business in the second quarter was flat, sending the stock down about 6% in pre-market trading.
  • Diageo: The British company posted a 21.4% increase in sales for the year ended June.
  • Ford on Wednesday reported better-than-expected second-quarter net income and confirmed its earnings outlook for the year, adding that it is "actively considering" ways to offset rising costs. The carmaker's stock was up more than 5% in premarket trading.
  • HeidelbergCement: The cement maker cuts its earnings outlook due to high energy costs.
  • Hershey raised its annual forecast for adjusted earnings and sales growth.
  • Linde raised its full-year profit forecast thanks to higher prices despite a difficult environment and its withdrawal from the Russian market.
  • Mastercard reported a jump in second-quarter profit as increased cross-border spending driven by a strong recovery in foreign travel more than offset higher costs.
  • Merck reported higher-than-expected second-quarter profit and revenue, thanks to strong sales of its Keytruda cancer treatment.
  • Meta Platforms announced gloomy forecasts on Wednesday evening after reporting a drop in quarterly revenue for the first time, amid the threat of a global recession and increased competitive pressure on its advertising sales. Facebook's parent company's stock was down 5.2% in after-hours trading.
  • Nestlé: Organic revenue growth reached 8.1% in the first half of the year to CHF 45.6 billion. Annual growth forecast is raised, but profitability will be at the lower end of the range.
  • Pfizer reported 78% growth in quarterly profit and reaffirmed sales guidance of $54 billion in 2022 for its COVID-19 vaccine and oral treatment. The stock is up 1.8% in pre-market trading.
  • Qualcomm expects fourth-quarter revenue to fall short of market expectations due to an expected slowdown in the economy and demand for smartphones. The semiconductor maker's stock was down 3.9% before the open.
  • Samsung Electronics: Second quarter results came in below consensus expectations.
  • Shell: The oil major generated $11.5 billion in profits in Q2.
  • Solvay: The chemical company raises its 2022 targets after a first half considered solid.
  • Southwest was down 5% in premarket trading after reporting quarterly results.
  • Volkswagen: Q2 adjusted operating profit is fairly well above expectations.

 

In other news:

  • CNOOC exploits shale oil in an exploration well in the South China Sea.
  • China will raise $148 billion to bail out its developers.
  • Rivian is cutting its workforce by 6%.
  • Spirit on Thursday accepted a $3.8 billion bid from rival JetBlue, a deal that will create the fifth-largest U.S. airline. Spirit's stock rose 4 percent in premarket trading and Jetblue's 1.1 percent.
  • The FDA approved GSK's Benlysta for kidney disease in children aged 5 to 17.

 

Today's main earnings report: Apple, Amazon, Nestle, Mastercard, Samsung Electronics, Pfizer, Merck, Thermo Fisher, L'Oreal, TotalEnergies, Sanofi, Anheuser-Busch Inbev, Diageo, Volkswagen... All the agenda here.