Corporate results:

  • Abrdn sees its profits fall as the company seeks to cut costs to restore its health.
  • Munich Re raised its dividend and plans a €1.5 billion share buyback.
  • Pubmatic soared 37% in after-hours trading following its quarterly results.
  • Puma reported a weaker first half due to currency effects.
  • Workday plunged 8% after its quarterly results.
  • Lowe on Tuesday forecast full-year sales below Wall Street estimates, as consumer spending on major home improvements remains limited.
  • Macy’s on Tuesday forecast below-consensus sales for the year, due to weak demand for its clothing and footwear, and said it would close 150 stores through 2026 as part of its new turnaround plan.

In other news:

  • Chevron warned that its planned $53 billion acquisition of Hess could be jeopardized by the exercise of Exxon Mobil and CNOOC's right of first refusal on Hess's main asset in Guyana.
  • FTC initiated proceedings to block merger between Albertsons and Kroger.
  • UniCredit is in talks to buy Polish banking group Vodeno from Warburg Pincus.
  • KKR, Macquarie Group, EQT, Antin and Global Infrastructure Partners are among the potential buyers of a stake in Poland's Cellnex, Bloomberg reported.
  • Iberdrola has completed the sale of $6.2 billion in assets to the Mexican state.
  • Snam entered exclusive talks to buy Edison's gas storage assets in Italy.
  • Barry Callebaut will cut up to 2,500 jobs as part of cost-cutting measures.
  • EQT raised €22 billion for its latest private equity fund.
  • Micron launched mass production of memory chips for Nvidia's artificial intelligence semiconductors.
  • Roche evaluates options for its lung disease drug Esbriet, sales of which have fallen due to generic competition.
  • CRH takes control of Australian company Adbri at AUD 3.2 per share.
  • Samsonite is being courted and is evaluating its options.
  • Expedia plans to cut 1,500 jobs worldwide by 2024.
  • Standard Chartered suspends new offshore investments by Chinese clients.
  • Genmab and AbbVie receive FDA priority review for blood cancer therapy.
  • Gilead obtains FDA approval for an expanded indication for its HIV treatment.
  • Schaeffler announced a new plant in the USA.
  • Sagard acquires Acceo from GIMV.
  • Pharmanutra merges its subsidiaries Junia Pharma and Alesco.
  • Faced with reluctance from the US, Shein may seek a London listing.
  • Expedia - The online travel platform announced on Monday evening its intention to cut around 1,500 jobs worldwide, or 9% of its workforce, as part of its "organizational and technological transformation".
  • Broadcom - The chipmaker suspended the process of selling its Carbon Black security software business, Bloomberg reported Monday evening, citing sources close to the matter.
  • Meta Platforms - Group CEO Mark Zuckerberg met with Japanese Prime Minister Fumio Kishida in Tokyo on Tuesday to discuss artificial intelligence, as part of a tour of Asia.
  • Intuitive Machines plummets 20.1% in pre-market trading after announcing an interruption in communications with the Odysseus space module, which landed on the Moon before overturning. The lunar mission, initially scheduled for 7 to 10 days, will be reduced to 5 days.
  • Bristol-Myers Squibb wants to expand its research and development (R&D) presence in India and expects its newly inaugurated site in Hyderabad to become its largest division outside the US by 2025, managing director Christopher Boerner said on Tuesday.
  • Walt Disney - David Greenbaum has been appointed to the newly created position of President of Walt Disney Studios, overseeing Disney LiveAction and 20th Century Studios. He will report to Disney Entertainment co-president Alan Bergman.
  • Dollar Tree - Family Dollar Stores, a subsidiary of the discount retailer, admitted Monday to storing food, medicines and cosmetics in unsanitary conditions in a rodent-infested Arkansas warehouse and agreed to pay $41.67 million, the U.S. Department of Justice announced.