Corporate results:
- DSV: The group raises its 2022 Ebit forecast.
- EasyJet: Quarterly revenues are good but the group takes a hefty £133m charge due to the European sky disruption.
- Lindt: The chocolate maker beat earnings expectations in H1. It plans to launch a CHF1bn share buyback program over two years.
- Logitech: The group saw its revenues and results decline in the last quarter, beyond what was feared. Full-year targets were lowered.
- General Motors confirmed its annual profit target but said it was preparing for a possible slowdown by limiting spending and hiring. The stock was down 1.3% in premarket trading.
- Coca-Cola on Tuesday raised its full-year sales forecast as demand remained strong despite price increases to soften the impact of rising costs for key inputs such as corn syrup and aluminum cans.
- McDonald’s reported better-than-expected quarterly like-for-like sales, driven by strong online demand, new product introductions and higher pricing.
- General Electric reduced its free cash flow forecast for the full year due to inflationary pressure and global supply chain disruptions. The conglomerate was down 2.3% in pre-market trading.
- 3M Company announced during the publication of its results its intention to spin off its healthcare business in which it would retain a 19.9% stake.
- Randstad: Q2 EBITA was up 18% and roughly in line with expectations.
- UBS Group: The bank reported Q2 net income of $2.1 billion, below expectations.
- Unilever: The group beats expectations for organic growth in Q2.
- Walmart: The retailer lowers its Q2 and full-year guidance. The stock loses 10% in after-hours trading.
- Whirlpool: The U.S. group cuts its annual profit forecast after a rather strong Q2.
- UPS reported higher adjusted quarterly profit on Tuesday, as particularly profitable deliveries offset a drop in volumes related to online shopping.
- Universal Health Services - The hospital operator's second-quarter profit nearly halved to $164.1 million due to higher labor costs.
In other news:
- Alibaba to apply for listing in Hong Kong.
- Shell will develop Jackdaw gas field in the UK North Sea, to come on stream around 2025.
- Amazon will raise prices for its Prime subscription in September in five European countries.
- Meta Platforms rolls out a monetization feature for Facebook video creators.
- The SEC launches an investigation into Coinbase regarding cryptocurrency listing.
- The U.S. Department of Energy is ready to lend $2.5 billion to General Motors' battery joint venture, Reuters reports.
Today's main earnings reports: Microsoft, Alphabet, Visa, LVMH, The Coca-Cola Company, McDonald's, Texas Instruments, Unilever, Mondelez, 3M Company, General Electric, UBS Group, DSV, Lindt, Michelin... All the agenda here.