Wall Street in disarray with mixed results | Microsoft climbs in after-market

* 3M

– The industrial conglomerate reported a drop in its quarterly profit, weighed down by a charge linked to the abandonment of the production of perfluoroalkyl substances and by the slowdown in demand which weighed on its turnover.

* GENERAL ELECTRIC

warned of a weaker than expected adjusted profit for 2023, the group still being penalized by the difficulties of its renewable energy division. General Electric shares gained 2% in after-market trades.

* JOHNSON & JOHNSON (J&J)

said on Tuesday that it expects a higher-than-expected annual profit for 2023, the pharmaceutical group expecting solid demand for its products and a recovery in its medical equipment business.

* HALLIBURTON

released better-than-expected results for the fourth quarter as high prices in the oil market supported its drilling activity and demand for drilling equipment and services.

* INTEL

announced on Monday the resignation of its president Omar Ishrak and the appointment of Frank Yeary to replace him.

*FORD

should decide by mid-February how many jobs will be cut in Europe, a spokesman for the German union IG Metall said on Tuesday.

* CAPRI

– The American luxury group on Monday appointed Cedric Wilmotte as general manager of the Michael Kors brand.

*BLACKSTONE

is in talks to sell about half of its stake in India’s largest property investment fund, Embassy Office Parks, to Bain Capital, sources say, in a deal worth up to $480 million dollars. In addition, JP Morgan raises its recommendation from “neutral” to “overweight”.

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