Corporate results:

  • Givaudan reports earnings in line with forecasts and confirms targets for 2025.
  • Fevertree forecasts core earnings below forecasts.
  • IBM on Wednesday forecast above-estimated annual sales growth, betting on stable demand for its computer software and consulting services from companies looking to adopt artificial intelligence (AI).
  • Nokia announces an 84% drop in net profit for 2023, and fears a still "difficult" market at the start of 2024.
  • Tesla falls by 6% after announcing that its volume growth will slow this year.
  • Tod's has forecast revenue growth of 12% in 2023, to €1.13 billion.
  • Ford said on Wednesday that it expected to record a pre-tax revaluation loss of around $1.7 billion in the fourth quarter, linked to pensions and other post-retirement benefits for its employees. The share price fell by 1.1% in pre-market trading.
  • Blackstone reported a 4% rise in distributable profit to nearly $1.4 billion in the fourth quarter, as the world's largest private equity firm liquidated more of its real estate, credit and hedge fund assets.
  • Humana loses 13.7% in pre-market trading, becoming the latest health insurer to report a disappointing annual profit, as the sector faces rising costs.
  • American Airlines on Thursday forecast 2024 earnings well ahead of expectations, with the carrier benefiting from strong demand for international travel, sending its shares up 3.7% in pre-market trading.

In other news:

  • Boeing- On Wednesday, the US Federal Aviation Administration (FAA) temporarily prohibited Boeing from increasing the production rate of its 737 MAX aircraft, which could have repercussions on the development projects of airlines and equipment manufacturers worldwide. This decision comes after the mid-air loss of a door on an Alaska Airlines ALK.N Boeing 737 MAX 9 earlier this month.
  • Microsoft briefly tops the $3,000 billion market capitalization mark.
  • Apple iPhone shipments in China fell by 2.1% in the fourth quarter, according to IDC.
  • Brussels opens an investigation into the takeover of Air Europa by International Consolidated Airlines.
  • Orsted takes full control of US offshore wind farm from JV partner Eversource.
  • Haleon sells its ChapStick lip balm brand to Suave Brands.
  • Paramount - Skydance Media CEO David Ellison has made a preliminary offer to buy National Amusements, the Redstone family's holding company, to take control of Paramount Global, Bloomberg News reported on Wednesday.
  • Apple - Apple's smartphone shipments in China fell by 2.1% in the last quarter of 2023 compared with the same period a year earlier, hurt by intensifying competition from local rivals led by Huawei, data from research firm IDC showed on Thursday. Apple supplier STMicroelectronics, meanwhile, forecast a drop of more than 15% in first-quarter sales.
  • Southwest Airlines - The Dallas-based airline, which on Thursday said it had excluded Boeing's MAX 7 model from its fleet plans for 2024, reported a fourth-quarter net loss of $219 million, linked to operating expenses of $426 million.

Today's main earnings reports: Visa, Intel, T-Mobile US, Comcast, Union Pacific, NextEra Energy, Blackstone, KLA Corporation, Humana, LVMH, Atlas Copco, STMicroelectronics, Givaudan... The full earnings calendar is here.