USA-Values to follow on Wall Street (updated) – 01/24/2023 at 14:13
(Actualized with Lockheed Martin, Verizon, AmerisourceBergen, Raytheon Technologies)
PARIS, Jan 24 (Reuters) – Key stocks to watch on Tuesday on Wall Street where futures on major U.S. indices are signaling an open decline of between 0.2% and 0.4%:
* 3M MMM.N – The industrial conglomerate announced the cut of 2,500 jobs after announcing a drop in its quarterly profit, weighed down by a charge linked to the abandonment of production of perfluoroalkyl substances and by the slowdown in demand which has weighed on its turnover.
* GENERAL ELECTRIC GE.N warned on Tuesday of a lower than expected adjusted profit for 2023, the group still being penalized by the difficulties of its renewable energy division. General Electric shares were down 1% in pre-market trading.
* JOHNSON & JOHNSON (J&J) JNJ.N said on Tuesday it expects higher-than-expected full-year profit for 2023 as the pharmaceuticals group expects strong demand for its products and a recovery in its medical equipment business.
* VERIZON COMMUNICATIONS VZ.N loses more than 2% in pre-market trading as the telecom operator’s full-year profit forecast fell short of market expectations as growth in mobile and heavy subscribers slowed investments in 5G technology.
* LOCKHEED MARTIN LMT.N The US defense group released better-than-expected quarterly results on Tuesday but forecast 2023 profit below expectations, hurt by supply issues and higher costs.
* Aerospace and defense specialist RAYTHEON TECHNOLOGIES RTX.N reported fourth-quarter earnings above expectations on strong demand for its jet engines, parts and services .
* Pharmaceutical group AMERISOURCEBERGEN ABC.N plans to rebrand itself as Cncora as part of its international expansion and beyond drug distribution.
* HALLIBURTON HAL.N reported better-than-expected fourth-quarter results on Tuesday as high prices in the oil market supported its drilling activity and demand for drilling equipment and services.
* INTEL INTC.O on Monday announced the resignation of its chairman Omar Ishrak and the appointment of Frank Yeary to replace him.
* FORD FN is expected to decide by mid-February how many jobs will be cut in Europe, a spokesman for Germany’s IG Metall union said on Tuesday.
* CAPRI CPRI.N – The American luxury group on Monday appointed Cedric Wilmotte as managing director of the Michael Kors brand.
* BLACKSTONE BX.N is in talks to sell about half of its stake in India’s largest property investment fund Embassy Office Parks
EMBA.NS to Bain Capital, sources say, in a deal worth up to $480 million. In addition, JP Morgan raises its recommendation from “neutral” to “overweight”.
* ADVANCED MICRO DEVICES AMD.O – Bernstein lowers its recommendation to “line performance” from “outperformance”. In pre-market trading, the stock lost 2.7%.
* LYFT LYFT.O gains more than 3% in pre-market trades after KeyBanc board upgrade to ‘overweight’ vs. ‘online weight’.
(Laetitia Volga and Blandine Hénault, editing by Kate Entringer)
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