(Updated with General Electric, Warner Music, Tesla, Micron, Nvidia and futures)
PARIS, March 7 (Reuters) – Main stocks to follow on Thursday on Wall Street where futures contracts on the main indices suggest an opening up 0.1% for the Dow Jones, 0.22% for Standard & Poor’s 500 and 0.42% for the Nasdaq:
* EXXON MOBIL said on Wednesday it had filed a request for arbitration regarding the sale of HESS’s oil assets in Guyana, and hinted it could oppose CHEVRON, which is in the process of striking a deal for those assets. The arbitration proceedings aim to preserve Exxon’s right to make an offer for Hess’ 30% stake in the giant Stabroek offshore oil block, should Chevron go through with its proposed takeover of Hess.
* ELI LILLY fell 2% before the opening after the presentation of Novo Nordisk’s highly anticipated treatment against obesity.
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* CHEMOURS said Wednesday that an internal review found its senior executives manipulated certain payments and debt collections in the fourth quarter of 2023, in part to meet free cash flow targets on which their compensation packages depended. This will not affect preliminary results for 2023, the chemicals company said. The title gained 4.5% before the opening.
* GENERAL ELECTRIC – GE Aerospace, the aerospace division of General Electric, reaffirmed its outlook for the year on Thursday and forecast operating profit of $10 billion in 2028, citing strong demand for its products and services.
* WARNER MUSIC confirmed on Thursday that it had approached the French digital music group Believe at the end of February to begin discussions with a view to a potential merger.
* APPLE – European regulators have asked the group to explain why video game maker Epic Games was banned from launching its own online marketplace on iPhones and iPads in Europe. Apple said European courts had granted it this right.
* VICTORIA’S SECRET – Company forecasts lower-than-expected quarterly and annual revenue as consumers remain under pressure. JP Morgan lowers its recommendation from “neutral” to “underweight”. The stock is down 30.2% pre-open.
* TESLA – The electric car manufacturer, which declined for a third consecutive session on Wednesday, was down 0.6% on Thursday in pre-market trading, after less than reassuring analyst reports and while its Berlin gigafactory experienced arson.
* NVIDIA, MICRON TECHNOLOGY – The two semiconductor manufacturers increased by 1.4% and 3.1% respectively in pre-market trading, extending their increase from the previous session.
* NORDSTROM – Jefferies lowers its recommendation from “buy” to “hold”. (Written by Corentin Chappron and Diana Mandiá, edited by Sophie Louet)
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