• 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.