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Dow rises, S&P 500 and Nasdaq fall

The Dow rose 34 points, or 0.1%, on Tuesday, led by gains in Walmart and Home Depot, which rose more than 1% and 5%, respectively. The S&P 500 fell 0.14%, while the Nasdaq Composite fell 0.44%.

— Samantha Subin

Delivery Hero rose 6% on upbeat third-quarter outlook

Shares in Delivery Hero rose more than 6% by mid-afternoon in Europe after the German online takeaway company offered an upbeat outlook for the third quarter while confirming its preliminary second-quarter numbers .

The company expects gross merchandise value (GMV) to grow by 7% quarter-on-quarter, to a total of 10.6 billion euros ($10.75 billion).

– Elliot Smith

UK real wages fall at record pace as inflation rises

Real UK wages, which reflect the pay power of employees after taking inflation into account, fell by an annual 3% in the last quarter, according to data released by the Office for National Statistics on Tuesday.

While the average wage, excluding bonuses, rose by 4.7% in the April to June period, according to the ONS, the cost of living is rising at an even faster rate and is outpacing wage growth.

Darren Morgan, director of economic statistics at the ONS, said this was affecting how far workers’ day-to-day wages go.

– Sophie Kiderlin

Sonova shares fall 14% after guidance cut

Shares in Sonova Holding fell more than 14% in early trade after the world’s biggest hearing aid maker cut its full-year guidance for 2022/23, citing a soft market environment and continued input cost pressures.

The Swiss company now projects consolidated sales growth of between 15% and 19%, down from a previous target of 17% to 21%. Adjusted EBITA growth for the full year is now expected in the range of 6% to 10%, up from 12% to 18% previously.

– Elliot Smith

BHP has highest profits in 11 years; stocks go up

BHP Group posted a bigger-than-expected 26% rise in annual earnings on the back of higher prices for coal and other raw materials.

The world’s biggest miner reported $21.3 billion in profit for the year ended June 30, its highest since 2011, and announced a record $16.3 billion dividend.

The company also refused to rule out a second bid for copper and nickel miner OZ Minerals, after receiving a $5.8 billion offer earlier this month.

BHP shares rose 3.9% in early London trading.

– Elliot Smith

Monday, August 15, 20227:50 AM EDT

CNBC Pro: Tesla’s valuation doesn’t make sense until it gets to that level, fund manager says

Tesla may be one of the best-known electric vehicle manufacturers, but fund manager and tech investor Paul Meeks believes the stock is still too expensive.

Meeks revealed to CNBC Pro Talks the valuation at which he will find Tesla “more interesting.”

Professional subscribers can read the story here.

— Xavier Ong

Anglo-Australian miner BHP soars after posting its second biggest ever profit

Shares in Anglo-Australian miner BHP rose 3.80% after posting the second-biggest profit ever and a record dividend of $16.3 billion.

Its annual results ended June 30 exceeded expectations.

BHP chief executive Mike Henry said BHP will enter the 2023 financial year “in great shape strategically, operationally and financially”.

He also expects China to “emerge as a source of stability for commodity demand next year, with policy support gradually consolidating.”

“At the same time, we expect to see a slowdown in advanced economies as monetary policy tightens, as well as geopolitical uncertainty and ongoing inflationary pressures,” he said in a statement.

“The direct and indirect impacts of Europe’s energy crisis are of particular concern. Tight labor markets will continue to be a challenge for global and local supply chains.”

The situation is reversed for peers Rio Tinto and Fortescue Metals which have registered falls.

-Su-Lin Tan

Monday, August 15, 20227:51 AM EDT

CNBC Pro: Strategist calls global stocks to buy despite slowing growth

There are pockets of “compelling value” in three sectors, even amid an economic slowdown, said Patrick Armstrong, chief investment officer at Plurimi Group.

These sectors are “incredibly cheap,” he told CNBC’s “Squawk Box Europe,” naming his favorite stocks and explaining why he likes them.

Professional subscribers can read the story here.

– Weizhen Tan


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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!