• Nokia lowers its profit margin target for 2026.
  • Oracle fell by 8.8% in after-hours trading following its disappointing results.
  • AstraZeneca will buy Icosavax at USD 15 per share ($1.1 bn) plus contingent consideration.
  • Nvidia and the US in talks on authorized sales of artificial intelligence chips to Chinese companies.
  • UK competition watchdog investigates Unilever’s environmental claims for certain products.
  • KKR negotiates purchase of 50% of Cotiviti from Veritas Capital.
  • Hasbro is set to cut 1,100 jobs, according to the WSJ.
  • Eli Lilly publishes a study showing that patients on tirzepatide (Zepbound / Mounjaro) who switched to placebo regained weight.
  • Shell sells its interests in two renewable energy projects in the USA.
  • Google loses its case against Epic Games over its app store.
  • Li Ning agrees to buy back shares worth up to HK$3 billion after share price falls.
  • Bristol-Myers Squibb to pay $800 million upfront to a Sichuan Biokin unit to develop and market one of its cancer treatments outside China.
  • Boeing plans deeper-than-expected cuts to its strategy staff, according to Reuters.
  • Banco BPM will return 4 billion euros to investors as part of its new plan.
  • Nokia intends to relocate a US R&D site in New Jersey, from Murray Hill to New Brunswick, by 2028.
  • Shein is reportedly in talks for a possible London listing, but New York is holding the line.
  • Alphabet is down 1.1% in pre-market trading after losing a lawsuit against video game publisher Epic Games, the originator of “Fornite”, accusing it of illegal monopoly with its Google Play online app store.
  • Oracle fell 8.13% in pre-market trading, after the company published a lower-than-expected quarterly sales forecast, due to an uncertain economy and competition in the cloud computing market.
  • JPMorgan Chase is set to outsource its custodian operations in Hong Kong and Taiwan, with Citigroup, HSBC and Standard Chartered vying for the mandate, according to two sources.
  • Pfizer announced on Tuesday that it had agreed to surrender rights to royalties from sales of the anti-cancer treatment Bavencio in order to address concerns raised by US antitrust authorities in connection with its $43 billion acquisition of Seagen.
  • Bristol-Myers Squibb said Monday it would pay $800 million and up to $8.4 billion to Sichuan Biokin Pharmaceutical to develop and market one of the Chinese manufacturer’s cancer treatments outside China.
  • Icosavax soared 45% before the opening after AstraZeneca announced it had bought the company for $1.1 billion.
  • Lucid – The manufacturer of luxury electric vehicles falls 4.6% before the opening after announcing the resignation of its CFO, Sherry House.
  • Meta Platforms – Turkey’s competition regulator said Tuesday it had launched an investigation into the group, which has linked its Threads and Instagram social media platforms.
  • FirstEnergy – Activist investor Carl Icahn reduced his stake in the group by 1.5%, forcing him to give up a seat on the board.