Corporate results:
- Cellnex: Nine-month earnings are up 45%, but the outlook was slightly lowered.
- Compagnie Financière Richemont: posted a first-half loss after impairment related to the YNAP exit.
- SoftBank: returned to the green in fiscal Q2.
- Toshiba: reports a 75% drop in quarterly operating profit and cuts full-year outlook.
In other news:
- Thermo Fisher plans a $4 billion share buyback program.
- 3M Company and DuPont are under fire in California over toxic pollutants.
- Cisco Systems plans to launch a semiconductor chip design center in Spain.
- Apple supplier Foxconn (Hon Hai Precision) will quadruple the number of employees at its plant in India.
- Holcim launched a share buyback of up to CHF 2 billion.
- AstraZeneca will no longer seek U.S. approval for COVID-19 vaccine due to declining demand.
- The Gap is collaborating with Amazon Fashion to launch a clothing line.
- Implenia extends a syndicated loan by two years.
- DKSH expands collaboration with Anklam Extrakt in Southeast Asia.
- Elon Musk, Tesla's chief executive, said Friday on Twitter that his companies are well positioned heading into 2023 despite the risk of a worsening economy.
- Berkshire Hathaway, the group led by Warren Buffett, announced Thursday that it has sold more than 91 million shares of US Bancorp since the beginning of the year, or 63% of its stake, down to 3.6%.
- Blue Apron fell 36% in premarket trading to $1.11 a share, as a stock exchange document showed that the meal kit delivery group had reached an agreement with Canaccord Genuity to sell $30 million worth of shares.
Key earnings reports today: SoftBank, Compagnie Financière Richemont, Olympus, Daimler Truck, Cellnex... All the agenda is here.