LB Pre-market | Philips fell 10 %！Tesla plans to fully open overcharge, and Morgan gives JD.com an overweight rating

News

1. Tesla is trying to use public funds to build electric vehicle charging stations, while working to open up parts of its U.S. Supercharger network to electric vehicles made by other manufacturers.

Nokia is considering selling its managed services business, and the Finnish telecom giant is in talks with partner advisers to gauge interest from potential buyers, including private equity firms, which generate about 500 million euros ($510 million) in annual revenue.

3. According to VideoCardz, Intel's official documents have confirmed the W790 chipset, and the main board equipped with this series of chipsets is expected to support a new generation of Xeon workstation processors.

4、Philips' second-quarter sales were 4.177 billion euros, compared with 4.23 billion euros in the same period last year; adjusted EBITA was 216 million euros, lower than analysts' expectations of 347.7 million euros; Non-GAAP adjusted earnings per share were 0.14 euros, compared with 0.4 euros per share in the same period last year. In view of inflationary pressures, supply chain disruptions and other issues, Philips lowered its full-year 2022 guidance and expects comparable sales to increase by 1% to 3%, compared with the previous forecast of 3% to 5%.

Movement

U.S. stocks premarket, Dow futures, Nasdaq futures, S & P 500 futures rose 0.31%, 0.36%, 0.4%.

Tesla rose more than 1%, Google, Microsoft, Amazon, Netflix rose more than 0.5%.

Monkeypox stocks rose, Chimerix rose 24.46%, SIGA Technology rose 17.68%, Tonix Pharmaceutical Holdings rose 15.13%, and Inovio Pharmaceutical rose 3.14%.

36 krypton rose more than 10 %, Alibaba rose 0.8%, and JD.com, Pinduoduo, and Beke rose nearly 2%.

Ryanair rose nearly 5% after reporting an after-tax profit of 170 million euros ($174 million) for the three months to the end of June, its first profit for the quarter in three years.

Philips fell more than 10% after reporting second-quarter sales fell to 4.18 billion euros from 4.23 billion euros.

NetEase rose 1%. NetEase's blockbuster game "Diablo: Immortal", which was originally scheduled to be launched on the national server on June 23, was launched on July 25.

The major indexes closed out last week higher despite a selloff on Friday, as investors focused on inflation and the economic outlook, with sentiment also influenced by corporate earnings. More of the same is expected this week, with the days ahead jam-packed with economic data and earnings.

But the headline event will come Wednesday, when the Federal Reserve’s monetary policy committee announces its next decision on interest rates. The Fed is widely expected to raise rates by a sizable 75 basis points—as the central bank did in June in the biggest rate hike in almost 30 years. A typical rate hike is 25 points, or one-quarter of a percentage point.

The week will also be chock-full of corporate earnings. The tech sector came under pressure last week amid downbeat results from social-media platform Snap and news of hiring slowdowns as Alphabet and Microsoft, and Big Tech will be in the spotlight in the days ahead.

Microsoft and Alphabet report earnings Tuesday, with Meta Platforms following Wednesday before Apple, Amazon, and Intel Thursday. While the tech giants will hog attention, a range of companies from Pfizer to General Motors and Procter & Gamble are also due to release earnings.

With energy playing a key role in recent inflation and slowdown concerns, reports from major oil companies Shell (SHEL) and Total Energies (TTE) on Thursday as well as Exxon Mobil (XOM) and Chevron (CVX) on Friday will be in focus.