Early premarket gappers
- Gapping up:
- TSC +27%, SIOX +13%, XM +7%, MYRG +4.2%, HPQ +4.2%, THC +3.6%, UNIT +3.2%, CRNX +3%, ONEW +3%, UL +3%, CSX +2.8%, MRNA +1.8%, SAP +1.8%, EFX +1.2%, CNI +0.9%, FR +0.8%, DLO +0.6%, LSTR +0.6%, BANC +0.6%
- Gapping down:
- FTI -7.3%, ADMA -7.2%, CVLG -6.9%, KALU -6.6%, ABB -5.8%, IBM -4.8%, GGG -4.1%, UMPQ -3.1%, LRCX -3.1%, KNBE -2.7%, GL -2.5%, TCBI -2.4%, PPG -2.4%, DFS -2.3%, RJF -1.9%, KMI -1.9%, LVS -1.9%, DHR -1.6%, SLM -1.5%, ZLAB -1.3%, SLG -1.3%, BCS -1.3%, TSLA -1%, HLX -0.9%, GOCO -0.7%, DOW -0.7%
Elliott Management Has Large Position in Canadian National Railway
The railroad’s chief executive is stepping down following a failed bid for rival Kansas City Southern
Activist investor Elliott Management Corp. has a big stake in Canadian National Railway Co. CNI 5.23% , people familiar with the matter said, adding to pressure on the railroad after its CEO resigned following a failed bid for rival Kansas City Southern.
Canadian National, facing a proxy fight from another activist, TCI Fund Management Ltd., said Tuesday Chief Executive Jean-Jacques Ruest is stepping down. TCI is seeking four board seats in a vote set to take place early next year.
TCI, which has a more than 5% stake and opposed the Kansas City Southern bid, has named Jim Vena, a former executive of railroad giant Union Pacific Corp. , as its choice for CEO. Elliott also supports Mr. Vena, who is being considered by Canadian National’s board, the people said.
Elliott, whose stake is smaller than TCI’s but still substantial, has been in talks with Canadian National for weeks, they said. Details of the discussions couldn’t be learned.
The drama at Canadian National, which has a market value of more than $90 billion, began when it made a topping bid for Kansas City Southern after Canadian Pacific Railway Ltd. had already clinched a $25 billion deal for the railroad. That prompted Kansas City Southern to switch partners, before a regulatory panel that must bless railroad mergers denied Canadian National’s plans to use a temporary voting trust, a key element of its proposal.
In the wake of that decision, Kansas City Southern favored a sweetened cash-and-stock offer from Canadian Pacific, which had already received the go-ahead for a similar trust. Canadian National then stopped its pursuit, saying the U.S. regulatory landscape had become more challenging for major railroad mergers since its bid was launched.
Canadian National said Tuesday that Mr. Ruest would retire in early 2022 or at a later time if it takes longer for a successor to be appointed.
Canadian National shares rose on the news of Mr. Ruest’s departure, increasing 5.2% to $130.79 Wednesday in regular trading on the New York Stock Exchange before The Wall Street Journal reported on Elliott’s stake. They rose further after hours.
U.K.-based TCI on Tuesday said Mr. Ruest’s planned departure is “a clear admission by the board that change is needed” and urged the company to meet with Mr. Vena and its four director candidates.
Canadian National said its board is open-minded and will consider all qualified and interested candidates.
Mr. Vena previously worked at Canadian National for decades before working at Union Pacific.
Elliott, founded by billionaire Paul Singer, manages roughly $48 billion in assets and has been one of the most visible activist investors in recent years, agitating at companies including Duke Energy Corp. and Twitter Inc.
>>> Up
* ADP Raised to Neutral at Exane; PT 112 euros
* Aramark Raised to Buy at Berenberg; PT $40
* Carnival Raised to Hold at Berenberg; PT $22.50
* CARNIVAL CORP. UP TO HOLD AT BERENBERG; CARNIVAL PLC STAYS HOLD
* Crest Nicholson Raised to Buy at Liberum; PT 435 pence (+°
* Gjensidige Raised to Buy at SpareBank; PT 230 kroner
* Gjensidige Raised to Hold at SEB Equities; PT 215 kroner
* Italgas Raised to Neutral at Citi; PT 5.60 euros
* Sabre Insurance Raised to Buy at Peel Hunt; PT 255 pence
* Sixt PT Raised to 170 euros from 145 euros at Deutsche Bank
* Snam Raised to Neutral at Citi; PT 4.50 euros
* Yara Raised to Buy at Norne Securities; PT 500 kroner
* Yara Raised to Buy at Nordea; PT 500 kroner (+)
* Warsaw Stock Exchange Raised to Buy at Citi
>>> Down
* Aena Cut to Underperform at Exane; PT 132 euros
>>> Down
* Aena Cut to Underperform at Exane; PT 132 euros
* ASML Cut to Reduce at AlphaValue/Baader
* doValue Cut to Neutral at Banca Akros (ESN); PT 11 euros (+)
* *MDXHEALTH CUT TO NEUTRAL VS BUY AT KEMPEN, PT EU1.2
* Nilar International Cut to Hold at Berenberg; PT 22 kronor
* Nilar International Cut to Hold at Berenberg; PT 22 kronor
* Red Electrica Cut to Neutral at Citi; PT 18.50 euros
* Tullow Cut to Equal-Weight at Morgan Stanley; PT 63 pence
>>> Initiation
>>> Call
>>> Initiation
>>> Call
* Barclays Results Impress, But Unlikely to Endure Into 4Q: Citi (+)
* Carrefour’s 3Q Sales Show Strong Progress, Jefferies Says
* Carrefour 3Q In Line; Bryan Garnier Says Grocer Can Do It Alone
* Edenred Delivers a Confident 3Q Report, Morgan Stanley Says (+)
* Hermes Stronger, 3Q Dispels Worries on China Demand: Bernstein (+)
* Inficon Update Shows Good Growth, Pressure on Margins: Jefferies
* Legal & General Up to Buy at Jefferies on Division Synergies
* Nel Revenue Beat Should Help Reassure Investors, Citi Says (+)
* Pernod Ricard Posts ‘Impressive’ 1Q Organic Sales: RBC (+)
* Rexel 3Q Sales Small Miss, FY Guidance Supported: Morgan Stanley
* SAP Earnings In Line With Pre-Release, Qualtrics Positive: Citi (+)
* Shaftesbury Upgraded at Liberum on Higher Tangible Net Assets
* Schindler 3Q Shows Supply Chain Issues, RBC Says; Watch Peers
* Schindler 3Q Shows Supply Chain Issues, RBC Says; Watch Peers
* Unilever 3Q Mixed, Pricing Drives Sales Growth: Morgan Stanley (+)
* Volvo 3Q Results Strong, Truck Order Intake Weak: Jefferies (+)
Chinese Warplanes Lead Taiwanese to Think About What to Do in an Attack
Residents of the self-ruled island are used to living in the shadow of an authoritarian regime, but rising tensions with China are stoking uncertainty for some
TAIPEI—Since she was a child, Angela Ou has known to hide under a table and stay near a source of clean water if an earthquake strikes Taiwan. She is much less certain about how to respond to a Chinese attack.
“Where would you even hide?” the 23-year-old graduate student asked. “I don’t know.”
For decades, residents of Taiwan have paid far more attention to the threat of natural disasters than to the possibility of a military conflict with nearby China. Recently, however, the specter of a Chinese invasion has begun to take on a more seismic proportion in the minds of many of the island’s 23 million people—some of whom worry they aren’t sufficiently prepared.
Since the start of October, China’s People’s Liberation Army has sent about 150 warplanes, including jet fighters and bombers, near Taiwan—a record-breaking show of force that has alarmed Western governments and prompted Taiwan’s air force to scramble jets in response.
The Chinese government, which regards Taiwan as a part of China and has vowed to take control of the democratically self-ruled island by force if necessary, has said only that the flights were aimed at discouraging Taipei from pursuing formal independence. The absence of a more detailed explanation has left military strategists and ordinary people alike in Taiwan guessing about whether Beijing is blowing hot air or preparing for an actual attack.
The blitz of sorties is the latest in a series of escalations that has increased suspicion of China’s Communist Party among Taiwanese people and introduced more uncertainty on an island where many, like Ms. Ou, have previously spent little time contemplating the possibility of war.
Although most people in Taiwan have a positive view of Chinese people, a record proportion, 70%, now have negative views of China’s government, up from 61% two years ago, according to a poll released in recent days by United Daily News, a newspaper associated with the opposition Nationalist party that supports closer relations with China.
Some people in Taiwan were growing concerned over the prospect of a Chinese invasion even before this month’s PLA flights, according to another survey conducted in May by the Brookings Institution, a think tank based in Washington, D.C. The poll results, published last week, showed that roughly 58% of respondents worry about a war with China, with 46% saying Chinese leader Xi Jinping is more likely to attack Taiwan than he was five years ago.
“I don’t think it’s very likely right now, but we must prepare seriously,” said Issac Wang, a 51-year-old film producer. “Taiwan itself must fight.”
Mr. Wang served in the Taiwanese military on Gaodeng, an outlying island 6 miles from the Chinese mainland where Taiwanese strategists in the mid-1990s believed Chinese troops would attack first. Mr. Wang said he is ready to take up arms again, if someone would tell him where to pick up a gun and bullets.
Liu I-Chen, a 27-year-old policy analyst for the New Power Party, which grew out of a 2014 protest movement against government plans to expand Chinese investment in Taiwan, recently started a study group with his friends to better understand the island’s defense strategy.
“We’re trying to point out that there’s no plan for civilians at the moment,” he said. The government should do more to prepare Taiwanese people to respond to a military crisis, he argues.
Kolas Yotaka, a spokeswoman for Taiwanese President Tsai Ing-wen, said there is an element of psychological warfare to the PLA’s provocations.
“We don’t want to play into that. It doesn’t mean we are not prepared,” she said. Ms. Tsai defends Taiwan’s sovereignty and “the basic rights of Taiwanese people,” she added.
Grilled about efforts to provide civilians with more information during a legislative session earlier this month, Taiwan’s defense minister Chiu Kuo-cheng pointed to the ministry’s plans to establish a new reserve mobilization agency that would help government agencies work better together. At the same session, Ma Jia-long, the deputy director of the ministry’s mobilization office, said it was soliciting expert opinions to produce an emergency manual that would be completed by March 2022.
In the central city of Taichung, 35-year-old software engineer Marros Lai isn’t waiting for advice from the government. After then-U.S. President Donald Trump increased pressure on Beijing by sending high-level envoys to Taipei last year, Mr. Lai decided to begin stockpiling supplies. His family’s kitchen now has three months’ worth of food in the event a missile strike forces people to shelter at home.
“It’s a much higher probability now,” he said, noting there’s a military base located just a few miles from his home. “Most Taiwanese just don’t want to talk about it because there’s a sadness to it all.”
Many in Taiwan argue Beijing has plenty of reasons to restrain itself, from the hit to China’s economy and international reputation that would likely result from an invasion, to doubts about the PLA’s willingness to mount a logistically tricky assault across the Taiwan Strait.
Still others question how meaningful it is to spend time fretting over the threat posed by China given the immense military power imbalance. China said in March that it would increase military spending by 6.8%, to $208 billion for 2021—more than 13 times the size of Taiwan’s military budget.
“There’s no point being worried,” said Lin Wen-rui, a 52-year-old restaurant owner in Taipei and father of two grown children. Dunking a bag of vegetables into boiling water on a recent evening, he said he was more worried about the effects of the pandemic on his business and thinks the Taiwanese government should moderate its talk of freedom to avoid provoking China.
“Do you think they won’t come over just because you say so?” he asked, referring to the PLA. “Impossible.”
Surveys show that a majority of Taiwanese say they are willing to fight for Taiwan if Beijing were to attack, though strategists caution that it’s difficult to predict how many would take up arms if an actual conflict were to break out.
A poll by Taiwan’s state-funded research institute Academia Sinica, conducted in May, found that roughly 45% of local respondents see the Chinese government as an enemy of Taiwan, up from 25% in 2018.
“People in Taiwan have been feeling the hostility from Xi Jinping’s government,” said sociologist Chen Chih-Jou, who led the survey.
For the small communities scattered on Taiwan’s outlying territories near the Chinese mainland, the pressure from China has grown impossible to ignore, residents said. This summer, Chinese fishing boats have turned up near the Matsu Islands, an archipelago roughly 10 miles off the coast of China’s Fujian province that’s home to 13,000 people. The boats’ green lights, used to attract squid, cast an eerie glow in the night sky.
“We feel pretty helpless,” said 35-year-old Liu Zeng-ya, who runs a hostel converted from a military barrack in Matsu’s Nangan township.
Ms. Ou, the graduate student, said she’s more focused on her master’s thesis, which examines the challenges Taiwanese women face from their employers in taking menstrual leave, than on the prospect of war. She said she struggles to envision missiles raining down on Taipei’s glass skyscrapers.
Evergrande shares tumble after sale of services unit collapses
Chinese developer resumes trading after 2-week suspension as debt repayment deadline looms
Shares in China Evergrande fell sharply as the company’s stock resumed trading on Thursday after the Chinese real estate developer disclosed that a plan to sell its property services division had collapsed.
Evergrande’s Hong Kong-listed stock fell as much as 13.6 per cent after the end of the two-week suspension, while shares of affiliate Evergrande Property Services, which were also frozen during the same period, dropped as much as 10.2 per cent.
Shares in Evergrande New Energy Vehicle, the developer’s electric vehicle subsidiary which has traded in Hong Kong without interruption in recent weeks, fell as much as 14 per cent.
Evergrande, the world’s most indebted property developer, had halted trading in its shares and those of its property services unit on October 4. Evergrande Property Services advised in an exchange filing at the time that it was expecting a “possible general offer” for its shares.
During the share suspension, Evergrande did not comment on the outlook for the transaction, or on five missed payments to international bondholders totalling $275m.
The developer broke its silence late on Wednesday, revealing that a deal to sell 50.1 per cent of the property services division to Hopson Development Holdings for HK$20bn ($2.6bn) had been terminated last week.
The company’s shares pared early losses to be down about 12 per cent on Thursday. Its stock price has dropped more than 80 per cent this year, representing a loss of more than $190bn in market capitalisation.
Evergrande said the deal had been halted because it “had reason to believe” that the purchaser had “not met the prerequisite” to make an offer. Hopson said in a filing that it was “prepared to complete the sale” but was unwilling to pay directly for the unit until obligations between the latter and Evergrande were settled.
Evergrande, which faces liabilities of more than $300bn, has struggled to deal with a liquidity crisis that has spurred concerns over the health of China’s real estate industry.
The disclosure and request to resume trading came on the same day that the Financial Times revealed Evergrande’s stock suspension had helped push the value of Hong Kong-listed stocks under a trading halt to a record high of more than $61bn, raising investor concerns about corporate governance on the exchange.
Evergrande also addressed its string of missed payments, the first of which on September 23 triggered a 30-day grace period that expires on Saturday.
Evergrande said on Wednesday that the grace period had “not yet expired” and that other than the sale of a stake in a regional Chinese lender, “there has been no material progress on the sale of assets of the group”.
“You have to bear in mind this stock is simply not investment grade at this moment and the default risk is getting higher,” said Dickie Wong, head of research at Kingston Securities.
Since Evergrande’s first missed payment, yields on dollar bonds for Chinese issuers have soared to the highest level in more than a decade, while developers Fantasia and Sinic Holdings have defaulted on bonds worth a total of $452m.
After Hours Summary: FDA approves boosters for JNJ and Moderna; IBM -4.2% falls on earnings; TSLA -0.6% roughly flat on earnings; TSC jumps +27.5% on deal to be acquired by RJFAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: XM +5.7%, SLM +4.1% (also approves $250 mln increase to share repurchase program and increases dividend), HPQ +3.8% (reaffirms FY21 EPS guidance; issues upside FY22 EPS guidance; raises annual dividend 29% to $1/sh), CSX +2.9%, THC +2.2%, LSTR +1.8%, SEIC +0.3%, CNS +0.2%, FR +0.1%
Companies trading higher in after hours in reaction to news: TSC +27.5% (TSC to be acquired by RJF in cash and stock deal worth $1.1 bln), CNI +1.7% (Elliot Mgmt has a big stake, according to WSJ), MRNA +1.6% (FDA approves booster dose for JNJ and Moderna vaccines, and allows for mixing and matching), CRNX +1.5% (stock offering), UNIT +1.4% (Zayo Group seeking to acquire UNIT, according to WSJ), JNJ +0.8% (FDA approves booster dose for JNJ and Moderna vaccines, and allows for mixing and matching), MMP +0.2% (approves additional $750 mln equity repurchase authorization and increases quarterly distribution), PFE +0.2% (CDC advisory committee votes to recommend routine use of PREVNAR 20 in adults)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: CVLG -6.5%, KALU -6.1%, UMPQ -6%, FTI -4.6%, GGG -4.5%, IBM -4.2%, LRCX -2.4%, KMI -2.2% (also increases dividend), LVS -2.1%, TCBI -2%, OMF -1.6%, CCI -1.5% (also increases dividend), PPG -1.5%, DFS -0.8%, TSLA -0.6%, VMI -0.2%, SLG -0.1%
Companies trading lower in after hours in reaction to news: ZLAB -12% (announces topline results from Phase 1b study of ZL-1102 for chronic plaque psoriasis), ADMA -8.1% (stock offering), GOCO -2.1% (current CFO to transition to CTO role; looking for new CFO), CNK -0.2% (announces digital innovations to enhance guest experience), REGN -0.1% (REGN and SNY announce expanded FDA approval of Dupixent to include children with asthma
>>> Up
* ADP Raised to Neutral at Exane; PT 112 euros
* Aramark Raised to Buy at Berenberg; PT $40
* Carnival Raised to Hold at Berenberg; PT $22.50
* CARNIVAL CORP. UP TO HOLD AT BERENBERG; CARNIVAL PLC STAYS HOLD
* Gjensidige Raised to Buy at SpareBank; PT 230 kroner
* Gjensidige Raised to Hold at SEB Equities; PT 215 kroner
* Italgas Raised to Neutral at Citi; PT 5.60 euros
* Sabre Insurance Raised to Buy at Peel Hunt; PT 255 pence
* Sixt PT Raised to 170 euros from 145 euros at Deutsche Bank
* Snam Raised to Neutral at Citi; PT 4.50 euros
* Yara Raised to Buy at Norne Securities; PT 500 kroner
* Warsaw Stock Exchange Raised to Buy at Citi
>>> Down
* Aena Cut to Underperform at Exane; PT 132 euros
>>> Down
* Aena Cut to Underperform at Exane; PT 132 euros
* ASML Cut to Reduce at AlphaValue/Baader
* *MDXHEALTH CUT TO NEUTRAL VS BUY AT KEMPEN, PT EU1.2
* Nilar International Cut to Hold at Berenberg; PT 22 kronor
* Nilar International Cut to Hold at Berenberg; PT 22 kronor
* Red Electrica Cut to Neutral at Citi; PT 18.50 euros
* Tullow Cut to Equal-Weight at Morgan Stanley; PT 63 pence
>>> Initiation
>>> Call
>>> Initiation
>>> Call
* Carrefour’s 3Q Sales Show Strong Progress, Jefferies Says
* Carrefour 3Q In Line; Bryan Garnier Says Grocer Can Do It Alone
* Inficon Update Shows Good Growth, Pressure on Margins: Jefferies
* Legal & General Up to Buy at Jefferies on Division Synergies
* Rexel 3Q Sales Small Miss, FY Guidance Supported: Morgan Stanley
* Shaftesbury Upgraded at Liberum on Higher Tangible Net Assets
* Schindler 3Q Shows Supply Chain Issues, RBC Says; Watch Peers
* Schindler 3Q Shows Supply Chain Issues, RBC Says; Watch Peers
Most Asian stocks fell Thursday as investors weighed corporate earnings, elevated inflation and the outlook for China’s property sector. Japan’s yen strengthened.
Equities retreated in Japan and Hong Kong and were little changed in China. While ailing China Evergrande Group sank on a worsening cash squeeze, other developers rallied after regulators said real-estate risks are controllable. U.S. and European futures were in the red following a mixed Wall Street session in which the S&P 500 neared a record and the tech-heavy Nasdaq 100 slipped.
Longer term Treasury yields trimmed an advance. The 10-year breakeven rate -- a proxy for where investors see annual inflation rates over the next decade -- touched the highest since 2013. A similar measure for Japan reached a three-year high.
The dollar was little changed, crude oil was steady and Bitcoin retreated from an all-time peak. Chinese coal futures plunged amid efforts by officials to contain power costs.
The Fed is “trapped in a very difficult situation,” David Kudla, chief executive officer at Mainstay Capital Management, said on Bloomberg Television. That’s because of the possibility of reduced stimulus followed by rate hikes amid a significant slowing of economic expansion, he said.
Meanwhile, the U.S. Food and Drug Administration cleared the way for Moderna Inc. and Johnson & Johnson Covid-19 booster shots. Russia is among countries stepping up virus restrictions to curb surging infections.
Macro :
- Zuckerberg Should Testify at Instagram Hearing, Blumenthal Says
- U.K. to Buy Merck, Pfizer Antivirals as Covid Cases Surge
Keep an eye on :
- ABBN SW : ABB 3Q Operating Ebita Meets Estimates
- AI FP : Air Liquide Acquires Remaining Stake in H2V Normandy
- AAD GY : Amadeus Fire Boosts FY Adjusted Ebita Forecast
- ATEA NO : Atea 3Q Revenue Meets Estimates
- ATI GY : Aroundtown Offers to Buy Remaining Shares of TLG Immobilien
- ATO FP : Atos 3Q Revenue Meets Estimates
- AKSO NO : Aker Solutions Wins LoI for Equinor FEED Contract for Wisting
- AXFO SS : Axfood 3Q Operating Profit SEK793M Vs. SEK796M Y/y
- BIM FP : BioMerieux Boosts FY Organic Sales Forecast
- BMW GY : BMW, Audi, Daimler Want to List HERE Via SPAC: Manager Magazin
- BRG NO : Borregaard 3Q Ebitda Beats Estimates
- DAI GY : Daimler Invests $170 Million in New R&D Tech Center in Beijing
- EDEN FP : Edenred Sees FY Ebitda High End Of EU620M to EU670M
- ENGI FP : Engie Says 9-Mth Outright European Power Production Rises
- EPIA SS : Epiroc 3Q Orders Beats Estimates
- ERF FP : Eurofins Scientific Boosts FY Revenue Forecast
- FINGB SS : Fingerprint Cards 3Q Oper Income SEK10.8M Vs. Loss SEK4.70M Y/y
- GAM SW : GAM Holding 3Q Net Outflows Investment Mgmt CHF1.2B
- GET FP : Getlink 3Q Rev. EU223.1m, Est. EU224.7m
- HEI GY : HeidelbergCement: HyNet North West Gets U.K. Government Funding
- RMS FP : Hermes 3Q Leather & Saddlery Sales +22.2%, Est. 18.2%
- HUBN SW : Huber + Suhner 9M Orders CHF743.2M Vs. CHF571M Y/y
- IPN FP : Ipsen Boosts FY Sales At Constant Exchange Rates Forecast
- B4B GY : Metro FY Net Sales Beat Estimates
- NEM GY : Nemetschek CEO Says New Media Unit to Boost Revenue: Boerse
- NOD NO : Nordic Semiconductor 3Q Ebitda Beats Estimates
- NOVN SW : Novartis Signs Follow-Up Agreement With BioNTech to Fill Vaccine
- ORA FP : Orange Belgium 3Q Adjusted Ebitda EU96.7M Vs. EU89.4M Y/y
- RI FP : Pernod Ricard 1Q Organic Sales Beat Estimates
- PSH NA : Ackman Sees Signficant Risks in ‘Wait & See’ Approach to Rates
- RAND NA : Randstad 3Q Organic Revenue Beats Estimates
- REE SM : Red Electrica Receives 7 Offers for Reintel Stake: Cinco Dias
- RNO FP : France to Keep 6,000-Euro Electric-Car Subsidy, Le Maire Says
- RXL FP : Rexel 3Q Sales Miss Estimates
- SAN FP : FDA Expands Approval of Regeneron, Sanofi Asthma Treatment
- SAP GY : *SAP CONFIRMS 3Q PRELIMINARY RESULTS, FY OUTLOOK RAISED OCT. 12
- SLIGR NA : Sligro 3Q Sales EU556M Vs. EU547M Y/y
- SW FP : Sachem Head Discloses Passive Stake in Sodexo
- SOI FP : SOITEC 2Q Revenue Meets Estimates
- SOW GY : Software AG 3Q New Bookings +5%
- TKAWY NA : *JUST EAT TAKEAWAY SAYS 2021 WILL BE PEAK YEAR OF LOSSES
- TELIA SS : Telia 3Q Adjusted Ebitda Beats Estimates
- TEP FP : Technip Energies 9-Mo. Ebit Rises; Sees Margin of at Least 6%
- TSLA US : Tesla 3Q Revenue Misses Estimates: Snapshot
- UNA NA : Unilever 3Q Underlying Sales Miss Estimates
- VOLVB SS : Volvo Beats Estimate Despite Chip Crunch Weighing on Production
- ROSE SW : Zur Rose Appoints Walter Hess As New CEO