Corporate results:
  • Ford - Q1 results were strong thanks to high prices, but the stock lost some ground after the close.
  • Lloyds Banking Group beats Q1 profit expectations.
  • Lufthansa reported a 40% increase in first quarter revenue.
  • Signify - Results are lower than expected due to lower demand.
  • Starbucks beat estimates for quarterly profit on Tuesday, helped by a strong rebound in China, while leaving its 2023 forecast unchanged.
  • Unicredit: Q1 net profit exceeds €2bn and market expectations. Targets are raised.
  • Estee Lauder said Wednesday it expects a bigger-than-expected decline in full-year revenue and profit, due to a slower-than-expected recovery in Asia and in its biggest market, China.
  • Kraft Heinz raised its full-year profit forecast after beating expectations for its first quarter on Wednesday, as price increases and strong demand helped the group cushion rising raw material costs.
  • Yum! Brands, the owner of fast-food chain Taco Bell, on Wednesday reported a first-quarter profit that fell short of expectations as the company doubled down on promotions to lure consumers. 
  • Bunge - The agricultural commodities trader reported first-quarter profit above estimates, helped by strong crushing margins in North America and Brazil and strong demand for food, feed and biofuels.
  • CVS Health reported first-quarter earnings and sales above expectations as a steady recovery in medical procedures boosted prescription drug sales, which helped its pharmaceutical business.
  • Advanced Micro Devices - The chipmaker forecast lower-than-expected quarterly sales for the current quarter due to weakness in the PC market.
In other news:
  • Icahn Group shares fell 20% after short seller Hindenburg attacks.
  • After the Kanye West fiasco, Adidas is sued by shareholders.
  • Morgan Stanley is reportedly discussing a settlement with US authorities in the block trade investigation.
  • Albemarle will spend $1bn to double lithium hydroxide production in Australia.
  • The CEOs of Google and Microsoft OpenAI will attend a meeting on AI at the White House.
  • Sika completes the acquisition of German company MBCC.
  • Tesla has resumed taking orders for the Model 3 Long Range in the United States, the company's website showed late Tuesday, after a temporary halt last year due to delivery delays.
  • Apollo - The U.S. private equity group is considering seeking approval from Swedish and Danish authorities to take a majority stake in SAS AB as part of the Scandinavian airline's rescue plan, a source close to the matter said.
  • Ford reopens orders for Mustang Mach-E models and lowers prices.
  • Eli Lilly - An experimental Alzheimer's drug developed by the pharmaceutical company slowed cognitive decline by 35 percent in a late-stage trial, the company said Wednesday. The stock gained 5.6 percent in premarket trading.
  • Alphabet – Microsoft - The chief executives of Google, Microsoft, OpenAI and Anthropic will meet Thursday with U.S. Vice President Kamala Harris and senior administration officials to discuss key issues related to artificial intelligence (AI), a White House official said.
  • Lannett files for bankruptcy protection in the US.
  • Superdry in "positive discussions" about a possible capital raising.
  • Holcim strengthens its position in Latin America.
  • Nikola and Voltera to build 50 hydrogen fueling stations in North America.
  • Montana Aerospace hires banks for the IPO of its energy division.
Today's top earnings reports: Costco, Qualcomm, Porsche, Airbus, CVS Health, BNP Paribas, Equinix, Enel, Stellantis, Deutsche Post, Kraft Heinz, Haleon, Orsted... The whole agenda is here.