[Pre-market performance] Tonghuashun (300033) US Stock News As of press time, Dow Jones Futures, mainly blue-chip stocks, rose 0.45%; S&P 500 futures rose 0.22%; and Nasdaq 100 futures, mainly technology stocks, fell 0.04%. Popular Chinese stocks rose before the market opened. Eu

[Pre-market performance]

Tonghuashun (300033) US stock News As of press time, the Dow Jones Industrial Average futures , mainly blue chip stock , rose 0.45%; the S&P 500 index futures rose 0.22%; the Nasdaq 100 index futures, mainly technology stock , fell 0.04%.

Popular Chinese stocks listed in the United States rose before the market.

European stock markets weakened. As of press time, German DAX index fell 0.41%; French CAC40 index rose 0.25%; FTSE 100 index rose 0.05%. In terms of commodity foreign exchange, as of press time, Brent crude oil rose 1.75% to US$94.03 per barrel.

[Financial News]

Amazon Founder Bezos : The US economy has flashed warning signals, and we should be prepared to deal with recession

On October 20, Amazon founder Bezos said that the US economy is flashing warning signals. He thus became the latest business leader to remind the United States of America to be in recession. Bezos suggests that people should be prepared for a potential recession. His comment was a response to a previous video clip of Su Dewei, CEO of Goldman Sachs Group. Su Dewei said in the video that companies should be cautious and be prepared to prevent the US economy from falling into recession.

[Company News]

Ericsson US stocks fell nearly 15% before the market trading

Ericsson US stocks fell nearly 15% before the market trading, and operating profit in the third quarter fell 23.94% year-on-year to 7.1 billion Swedish kroner , and gross profit margin fell to 41.4%.

Aluminum stocks fell more than 10% before the market trading

Aluminum Aluminum stocks fell more than 10% before the market trading, and revenue in the third quarter decreased by 8.4% year-on-year to US$2.85 billion, unexpectedly recording a net loss of US$746 million.

ATTQ3 revenue exceeded expectations and increased the adjusted earnings per share guidance for the whole year

Before the US stock market on October 20, ATT announced its third quarter results for 2022. According to the financial report, Q3 revenue was US$30 billion, up US$140 million from market expectations, down 4.2% year-on-year; Non-GAAP earnings per share was US$0.68, up US$0.07 from market expectations.

PrimeMedicine initial listing price is $17 per share. Log in tonight on Nasdaq

Biotechnology company Prime Medicine issued 10,294,118 common shares at a price of $17 per share. The underwriter is granted a 30-day option to subtract the underwriting discount and commission at the IPO price and purchase up to 1,544,117 shares. The total revenue from the issuance is expected to be US$175 million. The stock is expected to begin trading on the Nasdaq global market on October 20, 2022. The issuance is expected to end on October 24, 2022.

Philip Morris raised his bid for Swedish Match to $15.8 billion

Philip Morris International raised his bid for Swedish Match, rising from 106 kroner per share ($9.46) to 116 kroner, with a total value of about $15.8 billion. Philip Morris said it was the best and final offer the company gave, a 52.9% premium over the average price in the 30 trading days ending May 9.

Tesla plans to invest in the construction of lithium refineries in Texas

Tesla is advancing plans to build lithium refineries along the Texas Gulf Coast coast to gain more initiative in the electric vehicle battery supply chain.

[Analyst Rating]

Abbott :BTIG lowered its target price from $123 to $120, saying macro concerns may continue to drag down the company's sales and profit margins.

Procter & Gamble :JPMorgan (JPMorgan) raised its target price from $140 to $141 after the company announced its first quarter 2023 results, with better than expected results.

Tesla : After the company announced its third-quarter earnings, RBC lowered its target price from $340 to $325, changing the company's 2023-2024 delivery forecast and lowering its sales forecast for 2023, 2024 and 2025.