(Updated with index futures, Goldman Sachs and Morgan Stanley results, Activision forecourt prices)
PARIS, January 17 (Reuters) –
Top stocks to watch on Tuesday on Wall Street, where futures on major indices suggest an open down from
0.39% for the Dow Jones, from
0.37% for the Standard & Poor’s 500 and
0.53% for the Nasdaq
* GOLDMAN SACHS on Tuesday reported a sharper-than-expected 69% drop in quarterly profit due to heavy losses in its consumer business and a slump in deals at the investment bank. The action fell 1.7% before the market.
* MORGAN STANLEY said on Tuesday it beat expectations in the fourth quarter as trading activity benefited from financial market volatility, which offset weak M&A activity. The action takes 1% before the market.
* MICROSOFT risks receiving a warning from the European Commission over its offer to buy ACTIVISION for $69 billion (€63.8 billion), people familiar with the matter have reported. In addition, Activision shares fell 1.3% in pre-market after the refusal of its Chinese partner NetEase to extend their current licensing agreement in China by six months.
* Automakers TESLA, GENERAL MOTORS and FORD MOTOR fell 0.5%, 0.7% and 0.8% respectively in foreclosure after Chinese electric vehicle maker Xpeng announced a price cut on some of its models, stoking fears of a price war in the sector.
* The Chinese groups listed on Wall Street ALIBABA, JD.COM and BAIDU lost more than 2.5% in the forecourt, the
chinese growth
in 2022 having been among the lowest since 1976.
* ABBVIE, ELI LILLY – The two pharmaceutical companies have withdrawn from the agreement on the prices of medicines in Britain VPAS (Voluntary Scheme for Branded Medicines Pricing and Access), the Association of the British Pharmaceutical Industry announced on Monday, an industry body.
* DIDI – The Chinese ride-hailing giant announced on Monday the resumption of the downloading of its applications in China and the registration of new users after the partial suspension of its services in 2021 by the authorities.
* CHEVRON and Eni announced on Sunday that they had made a new gas discovery in an Egyptian offshore field in the eastern Mediterranean.
* UNITED AIRLINES will publish its fourth quarter accounts after the close on Wall Street.
* PALANTIR TECHNOLOGIES expects hundreds of hires this year despite the prospect of an economic slowdown, its chief executive Alex Karp said on the sidelines of the World Economic Forum in Davos on Monday.
* WELLS FARGO – Jefferies lowers its recommendation to “hold” versus “buy”. (Written by Claude Chendjou, edited by Blandine Hénault and Kate Entringer)