Corporate results:
- The Gap: The stock gains more than 7% after good quarterly results.
- General Motors: The manufacturer raised its free cash flow forecast for its automotive division in 2022.
- Applied Materials - The semiconductor equipment maker climbed 5% in premarket trading after announcing that it expects better-than-expected revenue for the first quarter of its fiscal year, saying that expected easing of supply chain tensions will help it meet demand from chipmakers.
- Gap jumped 8.6% in premarket trading on better-than-expected third-quarter revenue and profit, which were supported by resilient apparel demand despite high inflation.
- JD.Com - The Wall Street-listed Chinese online retailer gained 5.3% in premarket trading after reporting better-than-expected quarterly sales.
- Foot Locker was up 18% in pre-market trading after it raised its revenue and profit forecasts for this year, driven by resilient demand from affluent consumers.
- Farfetch plunged 10.5% in premarket trading as the online retailer specializing in high-end fashion said it expects to post a negative Ebitda margin of 3-5% this year, compared to its previous guidance of breakeven.
- Ross Stores - The retailer's stock rose 16.7% in premarket trading after announcing a profit above analysts' expectations in the third quarter.
In other news:
- Meta Platforms - Mark Zuckerberg told employees Thursday that WhatsApp and Messenger would be the next growth driver for the company.
- Amazon announced Thursday that job cuts are expected to continue next year.
- Tesla will recall nearly 30,000 Model X vehicles for an airbag problem, a filing with the U.S. National Highway Traffic Safety Administration shows.
- Visa announced Thursday that it has promoted Ryan McInerney to chief executive officer effective February, replacing Alfred Kelly Jr, who had led the group since 2016.
- KKR & Co - The U.S. private equity firm is seeking to sell Canadian oil and gas producer Westbrick Energy in a deal valued at C$1.5 billion to C$2.0 billion.
- Merck KGaA will restart the process of selling its pigments business, valued at $1bn.
- Credit Suisse Wealth Management is focusing on growth markets and ultra-rich clients.
- Boeing will reorganize its defense branch into four divisions.
- Eni and Sonatrach join forces to develop solar energy in Algeria.
- Hasbro is considering the partial sale of eOne's TV and movie business.
- Advanced Micro Devices and Analog Devices resolve patent dispute.
- Temenos passes 850 customer mark on its digital banking platform.
- Volkswagen, BMW, and Mercedes back in the hot seat for measuring vehicle emissions.
- Siemens Energy is to supply gas turbines for EnBW's district heating plant.
- Holcim hires Nestlé executive as new CFO.
Main earnings reports today: Li Auto, Foot Locker, Bekaert, TotalEnergies... All the agenda is here.