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HSBC (HSBC) reported profit of $5.9 billion for the third quarter, higher than the $5.6 billion that analysts were expecting. Europe’s biggest bank saw its bottom line benefit from stronger business in Asia as well as cost controls.
General Electric (GE) shareholders are bracing for a dividend cut or suspension when GE reports quarterly earnings tomorrow morning, according to analysts who spoke to the Wall Street Journal. The paper said investors would actually take that as a good sign in that it would help GE conserve cash and use it to fix its businesses.
Denbury Resources (DNR) is buying fellow oil and gas producer Penn Virginia (PVAC) in a cash-and-stock deal worth $1.7 billion, including debt.
Tesla (TSLA) shareholder Baillie Gifford & Co. said it would be willing to inject more cash into the automaker, according to a partner in the investment firm quoted by the Times of London. Baillie Gifford is the third largest Tesla shareholder with a 7.72 percent stake.
Ford (F) was upgraded to “buy” from “neutral” at Goldman Sachs, which also increased its price target on the automaker’s shares to $12 from $9.
Apple (AAPL) is $7 billion behind in its royalty payments to Qualcomm (QCOM), according to the chip maker. Qualcomm made its claim in a court hearing on Friday, the latest in a series of legal actions between the two companies. Separately, Jefferies initiated coverage of Apple with a “buy” rating, saying the iPhone will serve as the foundation for “massive” recurring services revenue.
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