Johnson & Johnson (NYSE:JNJ), slipped 0.4% midday despite its raised guidance after a strong third quarter which saw earnings beat expectations and its product pipeline advance. Read more
Bank of America Corp (NYSE:BAC) reported earnings and revenue ahead of forecasts, plus a double digit rise in net income, after what it called a “strong quarter.” The San Francisco-based bank reported net income of $7.80 billion in the third quarter of the year, up 10% from $7.08 billion the year prior. Read more
Goldman Sachs (NYSE:GS) reported third quarter revenue and profit ahead of expectations driven by strong trading revenue. The investment bank said in the third quarter net revenue totalled $11.82 billion, ahead of the $11.19 billion expected, although down from $11.98 billion the year before. Read more
Wyndam Hotels & Resorts (NYSE:WH) shares were up nearly 8% midday after Choice Hotels International Inc (NYSE:CHH) – parent company to the Radisson, Comfort and Clarion brands – took its takeover ambitions hostile, offering Wyndam shareholders a premium priced 'all paper' deal pitched at $90.00 per share, valuing a potential deal at $7.8 billion. Choice stock meanwhile moved 5% lower.
Evelo Biosciences Inc (NASDAQ:EVLO) shares fell 43%, to $1.65, after a failed Phase 2 study of a treatment for psoriasis. The small-cap biopharma will now review its options.
Tupperware Brands (NYSE:TUP), which has traded like a ‘meme-stock’ lately, was up nearly 16% following its new CEO appointment, hiring ex Spanx and Avon executive Laurie Ann Goldman as the food-container seller’s new boss.
Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) announced a “masterplan” aimed at reducing costs and dependence on external funding, driving shares higher after hours. The EV firm said it would look to meaningfully reduce operational costs, including people and administrative expenses, as part of the plan. Read more
Chinese technology giant Baidu.com (NASDAQ:BIDU) claimed that its new artificial intelligence (AI) bot is on a par with OpenAI’s ChatGPT as the software was rolled out on Tuesday. Unveiling the company’s latest bot, Earnie 4.0, at an event, Baidu chief executive Robin Li told audience members it was “not inferior in any aspect to GPT-4”. Read more
With Netflix Inc (NASDAQ:NFLX) earnings coming on Wednesday, analysts at UBS have reduced their price target for the company to $500 from $525 in a note to clients. Shares had retreated around 0.7% by midday. Read more
NetScout Systems Inc (NASDAQ:NTCT) slumped 16% as the cyber security specialist warned orders were not translating into sales. As a result, full-year earnings are expected to be lower than previously guided at between US$2-2.20 per share with revenues now forecast at US$840-860 million.
Previous guidance had been for earnings of up to US$2.32 and sales of US$915-945 million. Read more