(Discounted with Chevron, Target, Norwegian Cruise Line, Merck)
PARIS, Feb 28 (Reuters) – Key stocks to watch on Tuesday on Wall Street where index futures suggest a higher open:
* CHEVRON on Tuesday raised its share buyback target to between $10 billion and $20 billion a year and confirmed its production forecast, up more than 3% a year by 2027. The oil giant was earning 1, 3% in pre-market trading.
* TARGET took more than 2% ahead of the stock market after generating unexpected growth in sales over the last three months of 2022, the retail group highlighting the effect of promotions in its North American stores.
* NORWEGIAN CRUISE LINE HOLDINGS expects full-year profit below market expectations as the cruise operator’s business is dampened by soaring fuel and labor costs, even as demand bounces. The stock was down around 7% in pre-opening trades and rivals CARNIVAL and ROYAL CARIBBEAN were down 1.7% and 1.2% respectively.
* ZOOM VIDEO COMMUNICATIONS took 6.6% in market preview after the publication of an annual profit forecast above expectations thanks in particular to cost reductions.
* TESLA – Elon Musk, the chief executive of Tesla and Twitter, has been reaching out to artificial intelligence researchers in recent weeks to develop an alternative to OpenAI’s ChatGPT chatbot, The Information reported on Monday, citing people with direct knowledge of the matter.
* APPLE – The US group’s Indian supplier Foxlink will be unable to fully resume operations for two months following a major fire, raising fears over the iPhone maker’s supply , a source with direct knowledge of the matter told Reuters on Tuesday.
* BOEING said on Tuesday that its MQ-28 drone, developed in collaboration with the Royal Australian Air Force, could meet the US Air Force’s Collaborative Combat Aircraft (CCA) requirements and was designed to fit into a fleet of manned fighter jets, which could include LOCKHEED MARTIN’s F-35.
* MERCK & CO has announced the termination of a late-stage clinical trial evaluating a therapy involving its immuno-oncology drug Keytruda after interim data showed the study’s primary objectives were unlikely to be achieved .
* BIOGEN – The US biotech company and its Japanese partner Eisai announced on Tuesday that Chinese authorities have granted priority review status to Lecanemab, their treatment for Alzheimer’s disease.
* GOLDMAN SACHS – Chief Executive David Solomon is due to unveil the US investment bank’s medium-term financial goals on Tuesday at an investor day, analysts said.
* ROBINHOOD MARKETS announced on Monday that it received a subpoena in December from the Securities and Exchange Commission (SEC), the US stock market watchdog, relating to cryptocurrency trading.
* OAKTREE CAPITAL plans to raise $10 billion (9.42 billion euros) for a new fund to fund major private equity acquisitions, the Financial Times reported on Tuesday, citing a letter to the manager’s clients of American assets. (Written by Claude Chendjou, edited by Kate Entringer)
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