Europe in decline again | Airbnb on the way to the Nasdaq
* ADVANCED MICRO-SYSTEMS, the semiconductor designer, announced on Tuesday the acquisition of its competitor XiLINX for $ 35 billion (29.7 billion euros) and presented financial results and forecasts exceeding expectations. In pre-market trading, Xilinx is up 12% and AMD is down 4%.
* PFIZER reported on Tuesday a 4.3% decline in its quarterly turnover, penalized by competition for its painkiller Lyrica and the drop in demand for other treatments with the Covid-19 pandemic . The pharmaceutical giant gives up 1.4% on the pre-stock market.
* MERCK & CO reported better-than-expected quarterly profit and raised its annual profit target on strong sales of its cancer treatment Keytruda. The title advances 0.7% in trade before the opening of Wall Street.
* ELI LILLY – The pharmaceutical group published, on Tuesday, a quarterly profit lower than expectations due to a drop in demand for some of its drugs and the increase in the costs of developing treatments against Covid-19.
* CATERPILLAR reported third quarter profit down 54% as the construction machinery and mining equipment maker saw demand drop in its core business segments.
* 3M – The industrial conglomerate posted a better than expected profit in the third quarter, the health crisis having supported demand for its health products.
* TIFFANY – The European Commission on Monday gave the green light to the proposed acquisition of Tiffany by LVMH, announced the jeweler.
* RAYTHEON TECHNOLOGIES, manufacturer of aeronautical components, on Tuesday published a profit above market expectations thanks to better cost control in a context of falling demand from airlines with the health crisis. The title nevertheless yields 1% on the pre-market.
* JETBLUE saw revenue drop 76% to $ 492 million in the third quarter on lower travel, but the airline was positive for upcoming bookings. The title takes 2.7% on the pre-market.
* INTERNATIONAL AMERICAN GROUP (AIG) on Monday announced the replacement of its managing director and its intention to split its life insurance and pension insurance activities, news very well received by investors since the title gained 7% on the pre-market.