Nov 3 Briefing

Russia Confirms Ukraine Talks as White House Plans Meeting

CNBC reported that Russia confirmed Ukraine peace talks in Abu Dhabi next week and signaled a possible Trump-Putin-Xi summit, raising questions about Kyiv's role in negotiations. The White House said First Lady Melania Trump will bring Russian and Ukrainian representatives together at the White House, and credited her with securing a ceasefire in Oleshky and the surrounding Kherson region.CNBC WorldWhite House

U.S. Weighs Diesel Export Ban, Pressuring Marathon Petroleum

Marathon Petroleum shares came under pressure on November 2 after reports that the U.S. government is evaluating a ban on diesel exports. Treasury Secretary Bessent confirmed the administration is assessing the feasibility of such a policy, which is intended to ease inflationary pressure ahead of the midterm elections. Officials from the Energy and Interior departments cautioned that a ban could hurt the refining sector.futunn.com

Intesa Nears Monte dei Paschi Takeover and Lifts Profit Guidance

Intesa Sanpaolo is approaching the final stages of its acquisition of Banca Monte dei Paschi di Siena, following a vote in which Monte dei Paschi shareholders rejected a proposed defense plan against Intesa's 31.4 billion euro offer.Morningstar

Intesa reported nine-month net income of 8.2 billion euros, up 8.1% from a year earlier, and third-quarter net income of 2.65 billion euros against a 2.5 billion euro consensus estimate. It now expects 2026 net profit to be well above 10 billion euros and reported a CET1 ratio of 13.1%.MarketScreener

Pfizer Raises Full-Year Outlook and Names New CFO

Pfizer raised its full-year outlook, with CNBC pointing to growth from newer products. The company also said Cecile Guegan, a 20-year veteran who has held various leadership roles there, became CFO this month.CNBC

Lufthansa Trims Full-Year Profit Outlook Despite Stronger Third Quarter

Lufthansa reported third-quarter adjusted EBIT of 1.41 billion euros, up 6% and above the 1.37 billion euro analyst expectation. Revenue rose 9% to 12.24 billion euros and net profit grew 30% to 1.26 billion euros, helped by cargo and maintenance demand and cost discipline.finanzen.net

The airline nonetheless lowered its full-year 2026 adjusted EBIT guidance to 1.7 billion to 2.0 billion euros from a prior upper bound of 2.2 billion euros. CFO Till Streichert cited higher fuel costs and the advanced stage of the fiscal year, and the company said it is confident of reaching the revised range.finanzen.net

Apple Posts Record September Quarter as Services Growth Draws Scrutiny

Apple reported fiscal fourth-quarter revenue of $114.5 billion, a record for the September quarter, bringing annual revenue to $479 billion. Earnings per share rose 14% to $2.10 in the first report under CEO John Ternus. Americas revenue of $48.7 billion was slightly below the $49 billion FactSet consensus, while Europe's $32 billion topped the $31.7 billion estimate.appleosophy.com

InvestmentNews noted concerns over slowing services growth, rising memory costs and forward guidance that fell short of Wall Street expectations.InvestmentNews

ON Semiconductor Slips After Beat as It Announces Ferric and Synaptics Deals

ON Semiconductor beat analyst estimates for third-quarter EPS and revenue and gave optimistic fourth-quarter guidance, but its shares fell about 4% after hours. The company announced a $600 million cash acquisition of Ferric, an integrated voltage regulator developer, and restructured its Synaptics bid to $5.7 billion in cash from a previously planned $7 billion in stock. The deals target AI data center power delivery, though investors showed concern over financial implications and integration risks.BigGo Finance

Samsung, SK Hynix and Micron Ramp AI Memory Investment

UPI reported that Samsung Electronics, SK Hynix and Micron are significantly increasing investment in AI memory production, supported by long-term supply contracts that give greater certainty on high-bandwidth memory demand. The shift moves away from adjusting capacity to market conditions, and the three have outlined medium- and long-term supply plans including global facility expansion.upi