By Joe Wallace
Honda Motor (JP:7267), Nissan Motor (JP:7201): Honda shares slipped 3% in Tokyo while Nissan's leaped 24%, prompting a trading halt, after the auto companies said they were exploring a merger. Taiwan-based iPhone producer Foxconn also approached Nissan about taking a stake, according to a Bloomberg News report.
Renault (FR:RNO): Shares rose in Paris. As of early November, even after taking steps to unwind its partnership with Nissan, Renault owned 17% of the Japanese carmaker's shares directly and a further 19% through a trust it benefits from.
Heico $(HEI)$: The airplane-part and electronics supplier, backed by Warren Buffett's Berkshire Hathaway, reported quarterly revenue that fell short of analyst estimates late Tuesday. Shares fell in off-hours trading.
Birkenstock $(BIRK)$ and General Mills $(GIS)$ are due to report earnings before the bell followed by Micron Technology $(MU)$ after the close.
UniCredit (IT:UCG), Commerzbank (XE:CBK): Shares of both banks rose after UniCredit raised its stake in Commerzbank through derivatives contracts, to 28%. It is a signal of the Milanese lender's intent to pursue its German rival in the face of opposition from Berlin.
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(END) Dow Jones Newswires
December 18, 2024 05:13 ET (10:13 GMT)
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