Top Stocks to Watch: American Express, Adobe, Toyota, Merck, and More – Wall Street Update

2023-10-20 11:19:53
Main stocks to follow Friday on Wall Street where futures contracts on the main indices suggest an opening down 0.25% for the Dow Jones .DJI, 0.28% for the Standard & Poor’s 500 .SPX and 0 .36% for Nasdaq .IXIC: * AMERICAN EXPRESS AXP.N on Friday reported third-quarter profit of $2.45 billion, or $3.30 per share, compared to $1.88 billion, or $2.47 dollars per share a year earlier. On average, analysts expected earnings of $2.94 per share. * European Union antitrust regulators have resumed their investigation into ADOBE ADBE.O’s proposed $20 billion takeover of Figma, giving themselves until February 5 to make a decision, a company document said on Friday. European Commission. * Toyota Motor 7203.T, the world’s largest automaker by sales, said on Thursday it had signed an agreement to adopt TESLA’s charging standard TSLA.O from 2025. * The drugmaker MERCK MRK.N will pay Daiichi Sankyo $5.5 billion to jointly develop three of its cancer drug candidates, a deal that might be worth as much as $22 billion to the Japanese firm depending on the success of the therapies . * HEWLETT PACKARD ENTERPRISE HPE.N was down 3.7% following the close, with the company forecasting fiscal 2024 adjusted earnings per share of between $1.82 and $2.02, below consensus of 2.14 dollars. * Vietnamese electric vehicle maker VINFAST VSF.O said on Friday it had entered into a stock subscription agreement worth up to $1 billion with U.S. fund Yorkville Advisors. * ELI LILLY LLY.N said on Thursday it was suing 11 online pharmacies to stop them from importing, selling and distributing products imitating its diabetes drug Mounjaro, which is expected to be approved for its loss-related effects weight later in the year. * SOLAREDGE SEDG.O falls 22% before the open following warning of a significant drop in revenue in the fourth quarter. Shares of other photovoltaic companies, ENPHASE ENERGY ENPH.O and JINKOSOLAR JKS.N , fell 13.3% and 5.4%, respectively. (Written by Corentin Chappron, edited by Blandine Hénault)
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