US: Stocks to watch on Wall Street – 11/07/2022 at 14:28

PARIS, Nov 7 (Reuters) – The main stocks to watch on Monday on Wall Street, where futures contracts point to a 0.44% gain for the Dow Jones .DJI, 0.36% for the Standard & Poor’s- 500 .SPX and 0.32% for the Nasdaq:

* APPLE AAPL.O expects lower-than-expected shipments of its iPhone 14 Pro due to health restrictions heavily affecting production at its Foxconn 2317.TW subcontractor mega-factory in Zhengzhou, China. Apple’s stock returned 1% before trading.

➦ Apple expects lower iPhone shipments with anti-COVID policy in China

* META PLATFORMS META.O gained 3.3% ahead of the stock market in reaction to a Wall Street Journal article that Facebook’s parent company plans to lay off thousands of people; an announcement to that effect could take place on Wednesday.

* Wall Street-listed Chinese groups JD.COM JD.O, ALIBABA BABA.N and BAIDU BIDU.O continued to advance on Monday, rising from 1.6% to 2.8%, despite reaffirmation over the weekend. week of the Chinese health authorities of a continuation of the “zero COVID-19” strategy.

* PHILIP MORRIS INTERNATIONAL PM.N – The Marlboro cigarette maker announced on Monday that it had obtained 82.59% of the capital of Swedish Match SWMA.ST as part of its offer of 16,000 million dollars (16,060 million euros) while 90% are necessary for the forced purchase of minority shares that it does not yet own. The Financial Times also reported on Sunday that Philip Morris had secured the backing of activist investor Elliott Management.

➦ Elliott Backs Philip Morris’ $16 Billion Acquisition of Swedish Match-FT

* EXXON MOBIL XOM.N will post a $2 billion loss after the sale of a troubled offshore oil and gas field in California, which has been in operation since 2015.

* BERKSHIRE HATHAWAY BRKa.N reported a $2.69 billion (€2.7 billion) loss in the third quarter on Saturday due to inflation, lower investment and a significant loss from Hurricane Ian.

➦ Berkshire Hathaway posts a quarterly loss of $2.69 billion

* WALGREENS BOOTS ALLIANCE WBA.O – VillageMD, a health group majority owned by Walgreens Boots Alliance, is set to settle with Summit Health in a roughly $9 billion merger offer, debt included, The Wall reported. Street Journal on Sunday, citing sources.

* AIRBNB ABNB.O and other short-term accommodation rental companies will have to share data on the number of people using their services, the European Commission proposed Monday as part of an industry regulation.

* BLUE APRON APRN.N lost 16% premarket after withdrawing its forecast for annual revenue growth of 7% to 13%, citing funding uncertainties.

(Written by Claude Chendjou and Laetitia Volga, edited by Sophie Louet and Matthieu Protard)

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