Corporate results:

  • Crest Nicholson hit by a larger than expected drop in 2023 profit.
  • Ericsson's quarterly profit fell, but exceeded expectations.
  • Logitech improved its results despite lower sales in fiscal Q3.
  • Swatch Group reported a 5.2% increase in annual sales (12.6% at constant exchange rates) and sees "excellent growth prospects" for 2024.
  • DR Horton lost 4.9% in premarket trading after reporting first-quarter results.

In other news:

  • Gilead fell 10% yesterday after its advanced lung cancer clinical trial failed to meet its primary endpoint.
  • Zee lost 10% after the end of its agreement with Sony.
  • Evotec revealed that its former CEO failed to disclose his 3-year trading history on time.
  • Intrum sells the majority of its investment portfolio for 8.2 billion SEK to Cerberus.
  • Genmab loses daratumumab arbitration against Janssen Biotech.
  • In France, the CNIL fined Amazon France Logistique €32 million for an "excessively intrusive" surveillance system set up to monitor staff performance.
  • Bridgepoint will buy RoC Skincare from Gryphon Investors.
  • Juventus buys Djalo from Lille for over €5m.
  • United Airlines presented an optimistic outlook for the full year on Monday, despite the announcement of a larger-than-expected loss for the first quarter of 2024, linked to the Boeing 737 MAX 9 grounding.
  • 3M Company reported a lower-than-expected annual profit on Tuesday, causing the stock to fall by 5.7% in pre-market trading.
  • Johnson & Johnson reported slightly better-than-expected fourth-quarter earnings and sales on Tuesday, buoyed by strong demand for its flagship psoriasis treatment.
  • Invesco drops 3.4 in premarket trading after fourth-quarter results.
  • General Electric was down 4% in pre-market trading after reporting a lower-than-expected profit forecast for the current quarter on Tuesday.
  • Procter & Gamble sharply lowered its full-year profit forecast on Tuesday, as the positive effect of price rises faded and the group had to write down its Gillette business.
  • Halliburton reported a better-than-expected fourth-quarter profit, as strong offshore and overseas drilling activity boosted demand for oilfield services and equipment.
  • Verizon gained 5% in pre-market trading, as the group announced that it expected full-year earnings to beat estimates on Tuesday. The operator expects to report its biggest quarterly increase in subscribers in almost two years.
  • Lockheed Martin on Tuesday forecast lower-than-expected earnings for 2024, as the group's aerospace segment faces supply chain disruptions.
  • RTX gains 3.8% in pre-market trading after reporting a 10% rise in fourth-quarter sales, exceeding the expectations of analysts surveyed by LSEG.
  • Zions Bancorporation announced Monday that it expects net interest income to decline slightly in 2024, after posting a 58% drop in fourth-quarter earnings, as banks spend more to attract and retain customer deposits.
  • Netflix announced on Tuesday that Scott Stuber, the group's head of films, would be leaving in March to launch his own media company.

Today's main earnings reports: Johnson & Johnson, Procter & Gamble Company, Netflix, Verizon Communications, Texas Instruments, General Electric Company, RTX Corporation, Lockheed Martin Corporation, Intuitive Surgical, Canadian National Railway Company, 3M Company, Ericsson, Logitech... The full earnings calendar is here.