2023-10-10 11:48:00
(Updated with Pepsi, Alibaba, JD.com, PDD Holdings, Baidu, Chevron, Rivian and futures contracts) PARIS, October 10 (Archyde.com) – Main stocks to follow on Tuesday on Wall Street where futures contracts on the main indices suggest an opening increase of 0.16% for the Dow Jones .DJI, 0.12% for the Standard & Poor’s 500 .SPX and 0.12% for the Nasdaq .IXIC: * PepsiCo PEP.O takes 2% in pre-market after raising its annual profit forecast on Tuesday for the third time this year, the company banking on multiple price increases and the resilience of demand for its snacks and drinks. * Members of the Writers Guild of America (WGA) on Monday approved a new three-year contract with major studios, including WALT DISNEY DIS.N and NETFLIX NFLX.O. * Canada’s Unifor union said Tuesday it would launch strikes at GENERAL MOTORS GM.N factories in the country as negotiations with the automaker have reached an impasse. * ALIBABA BABA.N, JD.COM JD.O, PDD HOLDINGS PDD.O, BAIDU BIDU.O – US-listed shares of Chinese companies rise 1.1% to 2.4% after Bloomberg reported that China was considering a new round of stimulus measures to help the economy. * CHEVRON CVX.N and unions representing workers at its two liquefied natural gas (LNG) facilities in Australia will meet for talks on Wednesday, after the oil and gas major asked the industry arbitrator for help in reach an agreement with the employees, who threaten to restart strikes. * TRUIST FINANCIAL TFC.N is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news site Semafor reported Monday. * Mexico’s antitrust watchdog Cofece said Monday it had summoned a retailer accused of anticompetitive practices. A source familiar with the matter said it involved WALMART WMT.N ‘s Mexican unit. * CARPENTER TECHNOLOGY CRS.N – The metal manufacturer gained 1.6% in after-hours trading, after announcing that it would increase its prices by 7% to 12% on average on new non-contractual orders for the majority of its high-end products. * PGT INNOVATIONS PGTI.N , a U.S. door maker, has rebuffed a $1.9 billion acquisition offer from Miter Brands, a rival backed by Koch Industries, people familiar with the situation said Monday. * Japanese chip equipment maker Kokusai Electric 6525.T, backed by KKR KKR.N, on Tuesday reduced the target price of its $730 million IPO by about 3%. * UNITY SOFTWARE UN gains 4.9% pre-open, with its chief executive leaving the company with immediate effect. * Oracle ORCL.N – Evercore ISI raises its recommendation from “in line” to “outperform”. * RIVIAN RIVN.O – UBS raises its recommendation from “neutral” to “buy”. The action gained 3.2% in pre-market trading. (Writing by Corentin Chappron and Diana Mandiá, edited by Kate Entringer)
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