Corporate Results:

 

  • Ford Motor reported a decline in first-quarter adjusted profit on Wednesday, as labor and electric vehicle costs remained high.
  • Bristol-Myers Squibb on Thursday reported a first-quarter loss related to its acquisition of Karuna Therapeutics, RayzeBio, and Mirati Therapeutics.
  • Dow exceeded first-quarter earnings estimates on Thursday, as sales volumes rose amid signs of recovery in global manufacturing activity.
  • Merck raised its annual profit and sales forecasts on Thursday on the back of strong sales of its cancer drug Keytruda and its HPV vaccine Gardasil.
  • American Airlines on Thursday forecast a profit for the current quarter well ahead of analysts' expectations, amid a rebound in business travel.
  • Valero Energy exceeded first-quarter earnings estimates on Thursday, as the US refiner benefited from sustained demand despite limited crude supplies.
  • Newmont exceeded Wall Street estimates for first-quarter earnings on Thursday, as gold production was buoyant.
  • Royal Caribbean raised its annual profit forecast on Thursday for the second time this year, benefiting from record demand for cruises.
  • Caterpillar said on Thursday it expected second-quarter sales to fall, due to a decline in demand for its equipment after last year's surge.
  • Dover - The industrial equipment manufacturer's quarterly profit exceeded the Wall Street consensus on Thursday, thanks to stronger manufacturing activity.
  • Honeywell - The group's earnings published on Thursday beat Wall Street estimates, as the strength of its aeronautics business offset a slowdown in the company's industrial and building automation divisions.
  • Comcast exceeded quarterly sales estimates on Thursday, thanks to higher-than-expected growth in the number of subscribers to its Peacock streaming service and strong attendance at its theme parks.
  • Northrop Grumman reported a 12% rise in first-quarter earnings on Thursday, buoyed by higher global defense spending and a strong order book.
  • Lam Research reported quarterly sales above Wall Street consensus on Wednesday, as chipmakers ordered more of its equipment to produce AI semiconductors.
  • Teradyne expects second-quarter revenues to beat Wall Street expectations, thanks to robust demand for its chip testing equipment. The stock gains 7.9% before the opening.
  • Raymond James on Wednesday reported an 11% rise in second-quarter adjusted revenues, thanks to a strong performance in its capital markets and investment banking businesses.
  • Tyler Technologies exceeded Wall Street expectations for first-quarter sales, thanks to robust demand for its digital solutions. The stock gained 2.6% before the opening.
  • Adyen reports Q1 revenues close to expectations but below Q4, with no surprises.
  • AstraZeneca beats its first-quarter sales and earnings estimates.
  • Barclays reports a 12% fall in profits due to competition in the mortgage market and the drying up of markets.
  • BE Semiconductor reports lower-than-expected orders for the first quarter.
  • HelloFresh reports a fall in first-quarter profits due to lower demand for kit lunches.
  • Holcim increased its profitability, despite lower sales in Q1.
  • LG Energy Solution reported a drop in earnings due to weak sales of electric vehicles.
  • O'Reilly Automotive loses 4% after missing consensus.

 

In Other News:

 

  • Apple ceased to be China's leading smartphone vendor in the first quarter, according to preliminary data published Thursday by analyst firm IDC.
  • IBM will buy HashiCorp in a $6.4 billion deal to expand its cloud computing product offering, the companies said Wednesday.
  • Southwest Airlines said on Thursday it expected deliveries of new Boeing aircraft to be half as high as forecast.
  • Carrier Global - The air-conditioning manufacturer lowered its full-year revenue forecast on Thursday, anticipating continued pressure on consumer spending amid persistent inflation.
  • Micron Technology - U.S. President Joe Biden will announce on Thursday a preliminary agreement for up to $6.14 billion in subsidies to the chipmaker, the White House announced.
  • Rubrik, a cybersecurity startup, priced its IPO shares at $32. The stock will be listed on the New York Stock Exchange on Thursday under the ticker "RBRK."
  • Cisco Systems announced that hackers had infiltrated some of its systems to gain access to government networks.
  • Chipotle Mexican Grill raised its sales forecast for the year on Wednesday, expecting robust demand for its products despite higher prices.
  • ServiceNow said Wednesday that its first-quarter revenues more than doubled, with many customers using its generative AI tools.
  • Whirlpool is cutting 1,000 jobs, the Wall Street Journal revealed on Wednesday.
  • Anglo American receives a takeover proposal from BHP, which would be the biggest mining deal of the decade.
  • Nestlé destroys part of its Perrier production as a precaution.
  • Aluflexpack finalizes takeover of Helioflex.

Today's top earnings reports: Microsoft, Alphabet, Merck & Co, T-Mobile US, Caterpillar, Intel, Comcast, Union Pacific Corporation, S&P Global, Honeywell International, Bristol-Myers Squibb, Nestlé, Hermès, AstraZeneca, Airbus, Sanofi, Unilever, Schneider Electric, Equinor, BNP Paribas, Vinci, London Stock Exchange, Dassault Systèmes, STMicroelectronics, Barclays …