US planemaker Boeing is heading into a busy week, with investors watching developments closely around its costly labour strike, as well as its latest quarterly results.
More than 33,000 unionised workers, who have been on strike for more than a month, are set to vote on Wednesday whether they will accept Boeing's offer of a 35% pay rise over four years.
Boeing said last week that it was aiming to secure $35bn (￡27bn) in funding to shore up its balance sheet, as the company continued to deal with the labour dispute with its largest union.
Just days before that, Boeing released its preliminary third-quarter results, with the planemaker saying it expected to report a GAAP loss per share of $9.97, with operating cash flow of -$1.3 billion.
The French government has taken a small stake in Sanofi's consumer healthcare business Opella, following political backlash about the pharmaceutical company's deal with a US private equity firm.
Sanofi announced Monday that it had entered exclusive negotiations with American private equity company Clayton, Dublier & Rice to transfer a 50% controlling stake in Opella.
The company said Bpifrance, the French state-owned lender, was also expected to participate in the deal as a minority shareholder with stake of around 2%.
The planned sale of Opella to CD&R had caused some controversy over implications as to what it could mean for jobs in the France. Marc Ferracci, France's industry minister, reportedly said in an interview with France Inter radio last week that the option to block the deal was "absolutely on the table" if it didn't meet the government's terms.
In Monday's announcement, Sanofi CEO Paul Hudson appeared to try to allay concerns. He said: "We share the love and emotional attachment to Opella’s brands, hence our decision to remain vested in its future.
"We will support Opella on its path to become an independent company, grounded in talented people, a deep consumer expertise and a truly global presence with deep roots in France."
Shares in Sanofi saw little movement on the back of Monday's announcement.
Shares in German software firm SAP were also flat on Monday morning, ahead of the release of its third-quarter results later in the day.
At one point last week, SAP had overtaken chip-machine maker ASML as Europe's most valuable technology company, as shares slid after the Dutch company cut guidance, according to a Bloomberg report. However, on Monday morning, ASML's market capitalisation on Monday stood at over €262bn (￡218bn), while SAP's valuation stood at €249bn.
SAP shares are up 53% year-to-date, with the stock climbing higher after the release of its second-quarter results in July.
The company said total revenues were up 10% to €8.3bn, though it did report an 11% dip in operating profit to €1.2bn due to €600m in restructuring expenses.
For the year, SAP said it expected cloud revenues to come in at between €17bn and €17.3bn, versus €13.6bn in 2023.
Shares in Finnish telecommunications company Nokia have seen some recovery after falling last week following the release of its third-quarter results.
Nokia posted a 7% fall in net sales year-on-year, citing a decline in its mobile networks business, primarily in India, as well as divestment in cloud and network services.
However, the company said its comparable gross margin year-on-year had increased to nearly 46%. Nokia said its full-year outlook for 2024 remained unchanged, expecting operating profits of between €2.3bn and €2.9bn.
Nokia also said it continued to make "significant progress" in its cost savings programme, with a €500m run-rate in gross savings actioned.
Reuters reported that Nokia had laid off nearly 2,000 people in China and planned to cut another 350 job in Europe as part if its cost savings measures.
Shares in Tata Consumer Products, which owns brand such as Tetley, slumped nearly 7% on Monday.
The consumer goods company, which forms part of the Tata Group, reporting profits before tax had fallen to 397.07 rupees in crores, down from 447.85 in the second quarter.
Sunil D'Souza, managing director and CEO, said in the results that the company's operating performance in India was impacted by by tea cost inflation, though this was offset by improvement in its international and non-branded business.
He said that profit before exceptional items and tax was 16% lower, due to "finance cost and amortisation expenses relating to the acquisitions".
Earlier this year, Tata Consumer Products announced plans to acquire Organic India and Capital Foods.
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