(Updated with Apple, American Airlines and Futures)
PARIS, September 13 (Reuters) – Main stocks to follow on Wednesday on Wall Street, where futures contracts on the main indices suggest an opening down 0.04% for the Dow Jones, while the Standard & Poor’s 500 and the Nasdaq are expected to open up 0.02% and 0.05% respectively.
* APPLE – China has not banned its officials from using certain Western brand smartphones, including the Apple iPhone, contrary to what several foreign media reported, the Ministry of Foreign Affairs said on Wednesday.
* FORD gains 1.8% in pre-market trading, as the automaker has announced its intention to double production of its F-150 hybrid pickup in 2024.
* GENERAL MOTORS advances by 1.1% in pre-market trading after the announcement of the monitoring of the value by UBS whose recommendation is “buy”.
* AMERICAN AIRLINES on Wednesday lowered its profit forecast for the third quarter due to rising fuel costs and expenses linked to its new collective agreement with the ALPA pilots union.
* Chinese automobile manufacturers listed on Wall Street LI AUTO, NIO and XPENG fell from 2.6% to 3.15% in pre-market trading, the European Commission having announced on Wednesday that it had opened an investigation into the massive subsidies granted by China to its manufacturers of electric vehicles, which allow them to undercut prices on the European market.
* MODERNA announced on Wednesday a reduction in the production of its vaccine against COVID-19, an updated version of which was approved this week by the American authorities, in order to take into account the drop in demand and to arrive more quickly to its gross margin objective. The group also announced that its mRNA-1010 influenza vaccine had achieved its primary objective in a clinical trial. The stock gained 2.5% in pre-market trading.
* SPIRIT AIRLINES announced on Wednesday that it had revised downwards its turnover forecast for the third quarter to take into account the increase in fuel prices.
* MGM RESORTS INTERNATIONAL lost 1% in pre-market trading after Tuesday evening’s announcement of a cybersecurity problem affecting some of its systems.
* ORACLE – JP Morgan lowers its recommendation from “overweight” to “neutral”.
* MATCH GROUP – JP Morgan includes value in its “focus list”. The stock rose 3% in pre-market trading.
* MONDELEZ – TD Cowen begins monitoring at “outperformance”.
* BEYOND MEAT – TD Cowen begins monitoring at “underperform”.
* CAMPBELL SOUP – TD Cowen begins monitoring at “performance in line with the market”.
(Written by Claude Chendjou and Diana Mandiá, edited by Blandine Hénault)
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