- Microsoft and OpenAI are working on a ChatGPT-powered Bing to challenge Google. It fell 4% after UBS lowered its recommendation on the company to "neutral" from "buy".
- Apple's market value falls below $2,000 billion for the first time since 2021. iPhone sales through the three major U.S. telecom carriers rose in November month over month, a sign that demand remains strong, JP Morgan said.
- Outokumpu closes the sale of several long product subsidiaries for €228M.
- Ryanair's December traffic is up 3% from pre-pandemic levels.
- Tokyo Gas is closing in on a deal to buy Rockcliff Energy, according to Reuters.
- Rivian narrowly misses its 2022 production target of 25,000 vehicles.
- Viasat closes Link 16 sale to L3Harris for $2 billion.
- Nvidia and Foxconn will build autonomous vehicle platforms.
- Merck KGaA licenses tumor-targeting cancer therapy to PDS Biotech.
- ADC Therapeutics appoints Mohamed Zaki as medical director.
- Cisco, Heico, Campbell Soup release dividends.
- Salesforce was up 2% in premarket trading as the software company announced Wednesday it plans to cut about 10% of its global workforce and close some of its offices as part of a restructuring plan.
- Rivian Automotive - The electric vehicle maker said Tuesday it narrowly missed its full-year 2022 production target of 25,000 cars.
- U.S.-listed Chinese companies are indicated higher in pre-market trading on hopes for a post-Covid recovery in the Chinese economy. Baidu, Pinduoduo and JD.com were up 4.9% to 6.4%. Alibaba gained 6.7% after its subsidiary Ant Group received approval from Chinese regulators to raise 10.5 billion yuan for its consumer division.