Key points:
- Luxury stocks, including LVMH, suffer declines on challenging global markets
- Morgan Stanley’s earnings beat estimates, outperforming among stocks
- Novocure wins FDA approval, which boosts its shares considerably
LVMH faces challenges in global markets
LVMH (MC): LVMH, owner of Louis Vuitton, reported disappointing results and said it faces challenges in most markets. The French company’s shares, as well as other European luxury stocks, declined sharply.
Morgan Stanley beats expectations with earnings
Morgan Stanley (MS): The bank reported quarterly results that beat expectations, with outstanding growth in investment banking revenues. Morgan Stanley shares rose nearly 2.5% in pre-market trading, boosting investor confidence in its results.
Equifax, PPG Industries and Alcoa results
Equifax (EFX), PPG Industries (PPG) and Alcoa (AA) are expected to release their results after the markets close in the U.S. Forecasts are focused on their performance, which could shape investors’ perception of the sector as a whole.
Asml and the fall of the semiconductor sector’s stocks
ASML (ASML): The semiconductor equipment builder continues its slide, with its Amsterdam-listed stocks down around 4%. The fall adds to that of other global semiconductor stocks, such as TSMC and Tokyo Electron, which also showed unfavorable performance.
Intel and security concerns in China
Intel (INTC): The Cybersecurity Association of China said Intel products sold in China should undergo a cybersecurity review, saying the U.S. manufacturer poses a threat to national security. This has resulted in a drop of about 1.5% in Intel stocks in the premarket.
Novocure celebrates the approval of its lung cancer treatment
Novocure (NVCR): Novocure shares rose about a third in after-hours trading after the U.S. Food and Drug Administration cleared its Optune Lua portable lung cancer treatment. The clearance is a major step forward for the company and could strengthen its position in the market.
J.B. Hunt surprises with better-than-expected revenues
J.B. Hunt (JBHT): Transportation and logistics company J.B. Hunt announced a drop in quarterly revenue, but less than analysts expected. As a result, the stock rose nearly 7% in the premarket on the back of a solid performance versus market expectations.
