Switzerland’s MKS PAMP, one of the world’s largest refiners and traders of precious metals, has joined a growing number of European companies that are expanding operations in Hong Kong, drawn by the city’s strengthened focus on its financial services and commodity trading sectors.
The Geneva-based firm – locally known for minting the centenary gold bars for Bank of China (Hong Kong) in 2017 – on Thursday opened its 3,600 sq ft regional headquarters at the St John’s Building on Garden Road in Admiralty, a move that is expected to bolster the city’s role as an international gold trading hub.
“We decided to create a regional head office in Hong Kong because our clients wanted us to be making decisions in their time zone,” CEO James Emmett told the Post in an interview. “They wanted us to show the ability to move quickly here.”
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“We see long-term demand for precious metals being very strong in Asia. Structurally, it continues to increase,” he added.
The Swiss firm’s customers include banks, governments, watch and jewellery manufacturers, retailers and other precious metal refiners.
The Hong Kong headquarters will serve as the company’s regional hub, overseeing a comprehensive suite of precious metals trading and financial services. Other core functions include regional sales and client relationship management, treasury operations and overall operational support for the Asia-Pacific region.
An image of the Bank of China Tower, designed by renowned architect I.M. Pei, is shown engraved on one of the commemorative gold bars minted by Swiss firm MKS PAMP for the 100th anniversary of the Bank of China (Hong Kong) in 2017. Photo: SCMP alt=An image of the Bank of China Tower, designed by renowned architect I.M. Pei, is shown engraved on one of the commemorative gold bars minted by Swiss firm MKS PAMP for the 100th anniversary of the Bank of China (Hong Kong) in 2017. Photo: SCMP>
Previously, MKS PAMP served its Asian clients from its Geneva headquarters. The opening hours of Asian markets are ahead of trading sessions in Europe.
The Swiss company’s expansion, along with similar initiatives by other European firms, reflected confidence in the city’s economic growth after a few turbulent years, which included the Covid-19 pandemic.
In 2022, the total number of foreign companies operating in Hong Kong fell below 9,000 for the first time since 2019, according to government data. A 2022 survey by the European Chamber of Commerce in Hong Kong found that nearly half of its 260 member companies considered either a full or partial relocation of offices relocating their offices within a 12-month period.
MKS PAMP sees Hong Kong as a gold trading centre, according to CEO Emmett. “Making Hong Kong an international gold trading hub was a deciding factor” to setting up an office in the city, he said.
“Hong Kong is not only a vital link to the Chinese mainland’s gold market, but also its position at the nexus of Asia-Pacific’s precious metals market,” he said. “We see great opportunities with the Chinese mainland as well as the rest of the Asia-Pacific.”
Its expansion in Hong Kong comes as other European firms have set up offices in the city. Paris-based private equity firm Ardian recently opened a new 4,000 sq ft office at Two International Finance Centre in Central – the firm’s fifth location in Asia – as it looks to expand its US$3 billion in regional investments within its US$200 billion in assets under management.
Meanwhile, London-headquartered fintech company 3S Money said it plans to launch its new office in the city in January.
St John’s Building on Garden Road in Admiralty, where MKS PAMP set up its Hong Kong headquarters. Photo: Google alt=St John’s Building on Garden Road in Admiralty, where MKS PAMP set up its Hong Kong headquarters. Photo: Google>
On Hong Kong’s advantages, MKS PAMP’s Emmett said the city provided not only trading and skilled talent, but also logistics, security and storage infrastructure – “all of which are very important for precious metals”.
In addition, he said: “Clear commercial law further strengthens Hong Kong’s ecosystem.”
MKS PAMP was also exploring the possibility of developing manufacturing or refining capabilities in the Greater Bay Area, which would complement its existing refinery in Switzerland.
That consideration comes as gold prices hit record highs this year, fuelled by historically strong central bank purchases, investor inflows and a weaker US dollar.
“Asian people are buying more physical gold and want to hold it,” Emmett said.
According to its website, MKS PAMP served as a reference price member for the Shanghai Gold Benchmark Price Trading – a centralised pricing process for the precious metal.
The momentum in gold is expected to continue, driven by “solid” demand from central banks, according to Alexandra Symeonidi, corporate credit analyst on William Blair’s emerging markets debt team. She added, however, that investor appetite remained uncertain amid ongoing market volatility.
This year, Hong Kong’s push to become a global gold trading hub has gathered pace in spite of ongoing geopolitical tensions.
In 2022, MKS PAMP became the first in its industry to launch a portfolio of precious metal products which have had their carbon footprint independently verified. Photo: Handout alt=In 2022, MKS PAMP became the first in its industry to launch a portfolio of precious metal products which have had their carbon footprint independently verified. Photo: Handout>
In June, the Shanghai Gold Exchange opened its first offshore physical gold delivery vault in the city, and the government has committed to building gold storage capacity exceeding 2,000 tonnes within three years, up from around 150 tonnes in late 2024.
Hong Kong is also planning to boost gold refining and set up a central clearing system, according to Chief Executive John Lee Ka-chiu’s policy address in September
For private equity firm Ardian, being close to clients in Hong Kong was a major reason for setting up a new office in the city, according to Jason Yao, the company’s head of Greater China. He said the firm sees Hong Kong as a natural base to further grow its secondary private equity business in Asia.
Ardian has about 50 long-standing clients in the Greater China region. Several major insurance companies had already committed to the firm’s various products, Yao said.
Meanwhile, 3S Money is building a seven-member team in Hong Kong – across sales, know-your-customer capabilities and anti-money-laundering functions – to provide personalised financial services. Founded in 2018, the firm operates six global offices worldwide, including in London, Amsterdam, Luxembourg, Riga and Dubai.
An increasing number of wealthy customers from mainland China are using Hong Kong to diversify their investments and expand their businesses globally, according to a senior executive of Hong Kong-based mid-tier lender China Citic Bank International.
“After many government efforts to promote family offices in recent years, we have seen strong growth from wealthy mainland customers seeking our bankers to help them set up family offices in Hong Kong,” said Wendy Yuen Miu-ling, head of the bank’s personal and business banking group, in an exclusive interview.
She said the bank, which uses the name CNCBI for short, had seen new cross-border wealth-management customers from the mainland triple in the first half of this year, while assets under management jumped 30 per cent.
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The growth of the wealth-management business helped boost the bank’s fee income by 50 per cent in the first half, while its private bank operating income increased by 60 per cent, Yuen said.
Rich mainland clients liked to set up family offices in Hong Kong “as a platform for them to diversify their investment portfolio”, she said, adding that as an international financial centre, the city offered them a wide range of international products to invest in.
Family offices are entities created by affluent individuals or families to manage their investments, succession planning and philanthropic activities.
CNCBI is the Hong Kong unit of mainland China’s Citic Bank, which is under the Citic Group. The group, established in 1979 by Rong Yiren with the support of late Chinese leader Deng Xiaoping, has developed into a conglomerate with businesses in finance, manufacturing, infrastructure and other sectors.
“Being part of the Citic Group is important as the brand is well known on the mainland,” Yuen said. “Our wealth-management customers can also get services from other units of the group as we can offer them trustee, investment banking, securities trading and other services.”
In addition, mainland enterprises that open accounts at CNCBI can tap Citic’s other units around the world to support global expansion. The group’s securities arm would also help such customers raise funds in Hong Kong by issuing bonds or stocks to tap the city’s active capital market, Yuen said.
“While CNCBI is a mid-tier bank in Hong Kong, mainland customers like our bankers in Hong Kong to help them expand globally because Citic is a well-established large conglomerate,” she said.
Like larger peers including HSBC and Standard Chartered, CNCBI has invested in private banking in the city. Its new centre, which opened on September 29 in Citic Tower in Admiralty, offers a 180-degree view over Victoria Harbour. With a gross floor area of about 15,000 sq ft, it is double the size of the bank’s previous centre in Lippo Centre and offers 17 locally themed meeting rooms.
“Both local and wealthy mainland customers like to meet with our bankers, not just to manage their wealth but also to experience the cultural aspects of the city,” Yuen said. This was why the bank arranged cultural events, such as visits to the Art Basel show and the M+ museum, as well as exclusive cocktail receptions, she added.
Even in a digital age, physical venues played an important role in private banking and the wealth-management business, Yuen said. Besides its new private banking centre, CNCBI is upgrading many of its more than 20 branches.
“While clients may conduct simple banking transactions online, they would like to have a face-to-face meeting with their bankers in person to discuss financial planning, setting up of family offices and other complicated matters,” she said. “The 17 rooms of the new private banking centre are always fully booked.”
Alibaba Group Holding on Friday unveiled a 2 billion yuan (US$281 million) investment as part of a programme that will see a network of Taobao-branded convenience stores across China support the operations of the firm’s instant commerce and on-demand delivery business.
Rather than establishing Taobao Shangou’s own bricks-and-mortar shops, the programme would primarily provide existing convenience stores with a tech facelift, leveraging Alibaba’s digital infrastructure, according to Hu Qiugen, the instant commerce unit’s general manager. Alibaba owns the Post.
Under the programme, the operators of partner convenience stores would receive digital supply chain support from Alibaba’s domestic wholesale platform 1688.com, technical insights on product procurement and get their stock inventory replenished via the group’s Aoxiang platform, as well as Taobao branding.
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That technical support is expected to make certain each store provides “one-stop, 24-hour and 30-minute delivery” shopping service to consumers, according to Hu. Taobao Shangou’s partner convenience stores are expected to be rolled out in more than 200 cities on the mainland.
The first batch of Taobao partner convenience stores launched on Saturday in cities that include Hangzhou, the capital of eastern Zhejiang province, and Nanjing, the capital of eastern Jiangsu province.
“We are committed to ensuring a win-win within our ecosystem,” Hu said.
Taobao Shangou general manager Hu Qiugen speaks at Friday’s launch of the Alibaba unit’s new convenience store programme in Hangzhou. Photo: Sina alt=Taobao Shangou general manager Hu Qiugen speaks at Friday’s launch of the Alibaba unit’s new convenience store programme in Hangzhou. Photo: Sina>
Hangzhou-based Alibaba’s latest initiative further expands the scope of goods and merchants covered by its instant commerce push, more than two months after CEO Eddie Wu Yongming said the company had succeeded in scaling up user growth and making consumers prefer its platform over its rivals – including on-demand delivery giant Meituan and JD.com.
Taobao Shangou, which is accessible from the Taobao shopping app, currently has more than one-third of the traditional convenience stores in its ecosystem running round-the-clock operations.
Alibaba said monthly active users of Taobao Shangou reached 300 million in August, while daily orders hit a peak of 120 million.
China’s instant commerce market is expected to grow to 2 trillion yuan, according to estimates by the Chinese Academy of International Trade and Economic Cooperation, an institute under China’s Ministry of Commerce.
Meituan, meanwhile, has also been expanding the footprint of its instant commerce operation.
Beijing-based Meituan, which claimed that its instant commerce service has more than 500 million users, on Wednesday announced a partnership with over 10,000 brands. The company said it will help these brands establish virtual stores on its platform, while also providing them with digital tools, warehousing and logistics support.
BEIJING, Nov 2 (Reuters) – China Vanke, a state-backed property developer battling liquidity stress, said on Sunday its largest shareholder, Shenzhen Metro Group, agreed to provide loans of up to 22 billion yuan ($3.09 billion), a stock exchange filing showed.
One of China’s best-known household names, with many projects across bigger cities, Vanke is about a third owned by Shenzhen Metro.
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Reporting by Beijing newsroom; Editing by Clarence Fernandez
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WARSAW, Poland — Poles met up with families and visited their beloved dead on All Saints’ Day, which was celebrated Saturday across the Catholic world.
All Saints’ Day, annually celebrated Nov. 1, is one of the most important days in the Polish calendar. Supermarket shelves are stacked with candles weeks in advance. As the day approaches, street vendors compete for spots near cemetery entrances, selling chrysanthemums and traditional snacks like pretzels, called “obwazanki” in Polish.
In cities across the country, special bus lines were introduced, with their final stops at the largest cemeteries. Inhabitants of big cities headed to the suburbs or villages where parents or grandparents live, so they can visit the graves of deceased family members together. Police officers set up special patrols, jokingly called “Operation Candle,” to keep the peace on the roads during the holiday.
Poland seemingly came to a standstill Saturday as people made their way to cemeteries to collectively honor those who have died. As the day turned to dusk, graves adorned with white and red candles and colorful flowers — set against the backdrop of orange autumn leaves — radiated warmth and comfort despite the somber occasion.
Piper Sandler Companies (PIPR) posted a standout year, with earnings climbing 44.1%, a figure that far outpaces its five-year annual growth average of 7.2%. Net profit margins expanded to 13.8% from 10.8% a year earlier, while forward-looking estimates call for revenue to grow at an annual rate of 12.17%, ahead of the projected average for the US market. With a lower price-to-earnings ratio than the industry average but trading above internal fair value estimates, investors will be keeping a close eye on how this balance of growth, profitability, and valuation shapes up moving forward.
See our full analysis for Piper Sandler Companies.
Next up, we will see how these results compare to the broader market narratives and whether the latest numbers support or challenge the popular views about Piper Sandler.
Curious how numbers become stories that shape markets? Explore Community Narratives
NYSE:PIPR Earnings & Revenue History as at Nov 2025
Piper Sandler’s net profit margins have reached 13.8%, up from 10.8% the prior year. This reflects improved operating leverage not previously highlighted in the intro.
The prevailing market view underscores that this margin resilience is a bright spot as steady advisory and M&A revenues help shield results from volatility in trading or lending activities.
Advisory and M&A segments are inherently less cyclical, and their strength directly ties to the company’s ability to expand margins during a year of industry fluctuations.
With a higher margin, Piper Sandler is positioned to benefit if market-wide deal or IPO activity accelerates. A decline in these activities could challenge ongoing profitability gains.
The company is forecasting annual revenue growth of 12.17%, outpacing the average growth expected for the broader US market based on EDGAR-provided estimates.
The prevailing market view emphasizes that this stronger-than-market guidance raises Piper Sandler’s growth profile among investors, even as consensus waits for sector-wide activity to fully recover.
The five-year earnings growth rate averages 7.2% per year, which is much lower than the current year’s trajectory. This suggests the company could be entering a period of above-trend performance if forecasts hold.
Investors focused on deal flow and IPO volumes will be watching closely, since further improvement or disappointment in these segments could materially shift growth expectations.
Piper Sandler trades at a price-to-earnings ratio of 22.6x, which is lower than the industry average of 25.1x but above the direct peer group’s 17x. Its share price of $319.26 remains well above the DCF fair value of $61.74.
The prevailing market view points out that while the company appears undervalued against industry, a premium to its immediate peers and a steep gap versus DCF fair value could temper near-term upside.
This mix of relative P/E value and absolute premium pricing suggests investors expect Piper Sandler’s recent margin and growth gains to continue. It also implies limited downside protection if performance falters.
Active traders may see a narrowing in this valuation gap as a signal to reassess positions, especially if broader market trends shift or forecasts are revised.
Don’t just look at this quarter; the real story is in the long-term trend. We’ve done an in-depth analysis on Piper Sandler Companies’s growth and its valuation to see if today’s price is a bargain. Add the company to your watchlist or portfolio now so you don’t miss the next big move.
Piper Sandler’s premium share price, which is far above its fair value, may limit upside if future growth or margin improvements do not materialize as expected.
If you want to target compelling value and stronger upside, look to these 840 undervalued stocks based on cash flows that may offer better risk-reward than pricey growth stories.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include PIPR.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
In recent days, JD Logistics announced that its board will review unaudited third-quarter results on November 13, 2025, while its supply chain arm JoyLogistics has rolled out integrated bulky item delivery and installation services in Malaysia and Singapore.
This move marks a push into Southeast Asian markets with enhanced logistics offerings, but recent losses at subsidiary Deppon underscore ongoing sector challenges.
We’ll explore how Southeast Asia network expansion and subsidiary performance updates may influence JD Logistics’ investment narrative going forward.
We’ve found 22 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.
Shareholders in JD Logistics are betting on the company’s expansion into high-margin, integrated supply chain solutions, including growth in Southeast Asia and a push for greater revenue diversification beyond JD.com. The latest news of board review for unaudited results and new services in Malaysia and Singapore extend JD Logistics’ international footprint, but these developments do not materially change the most important short-term catalyst, sustained growth in external third-party business. Key risks, including persistent client concentration and rising cost pressures, continue to warrant attention.
The recent launch of integrated bulky item delivery and installation by JoyLogistics in Southeast Asia is directly tied to JD Logistics’ core catalyst: building out specialized value-added services to win new external clients and reduce dependence on JD.com. This expansion strengthens its service mix and network, supporting diversification efforts, but execution risks tied to overseas ventures and capital allocation still linger for investors tracking performance drivers.
However, while top-line growth from new markets is encouraging, investors should also be aware that ongoing labor cost inflation and rising employee benefits could constrain net margins if…
Read the full narrative on JD Logistics (it’s free!)
JD Logistics’ outlook anticipates CN¥262.7 billion in revenue and CN¥9.5 billion in earnings by 2028. This projection is based on an annual revenue growth rate of 10.4% and an earnings increase of CN¥3.0 billion from the current CN¥6.5 billion.
Uncover how JD Logistics’ forecasts yield a HK$17.65 fair value, a 39% upside to its current price.
SEHK:2618 Community Fair Values as at Nov 2025
Simply Wall St Community members set JD Logistics’ fair value between HK$13.31 and HK$40.51, across four distinct analyses. As you weigh these perspectives, remember that execution challenges in international expansion could significantly influence future returns and risk exposure.
Explore 4 other fair value estimates on JD Logistics – why the stock might be worth over 3x more than the current price!
Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.
A great starting point for your JD Logistics research is our analysis highlighting 5 key rewards that could impact your investment decision.
Our free JD Logistics research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate JD Logistics’ overall financial health at a glance.
Early movers are already taking notice. See the stocks they’re targeting before they’ve flown the coop:
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include 2618.HK.
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LyondellBasell Industries (LYB) reported widening losses, with annual losses increasing by 24.8% per year over the past five years. Available forecasts expect revenue to decline 7.1% each year for the next three years, even as analysts see annual earnings rebounding at a pace of 52.66%, with a return to profitability anticipated in the same period.
See our full analysis for LyondellBasell Industries.
Next, we’ll see how these headline results compare with the prevailing narratives and expectations around LYB. Some views may be confirmed, while others might get a reality check.
See what the community is saying about LyondellBasell Industries
NYSE:LYB Earnings & Revenue History as at Nov 2025
Analyst projections show profit margins improving from just 0.4% today to 7.7% within three years, a material shift even as revenue is expected to fall by 7.1% yearly.
According to the analysts’ consensus narrative, the turnaround in profitability rests on strategic investments in recycling technology and a portfolio rebalancing toward lower-cost regions.
Management is targeting at least $1.1 billion in incremental cash flow by 2026 from these moves, potentially offsetting the drag from declining revenues.
However, consensus notes that there is considerable disagreement among analysts, with future earnings forecasts ranging from $1.3 billion to $2.8 billion, reflecting uncertainty about execution and market conditions.
The resurgence in forecast margins raises the question of whether cost improvements and growth in sustainable products can outpace ongoing industry headwinds. Analysts say success here will be crucial for the stock’s re-rating.
Bulls see proprietary recycling technology as a key differentiator that may unlock better pricing and margin gains versus peers.
Still, lagged investments or further market slowdowns would likely challenge this optimistic scenario, putting targets at risk.
See what analysts expect if LYB executes on its margin turnaround. Dig into all sides of the story in the full consensus narrative. 📊 Read the full LyondellBasell Industries Consensus Narrative.
Despite ongoing losses, LyondellBasell has maintained its dividend, but filings reveal concerns about the sustainability of payouts given the company’s weak financial position.
Analysts’ consensus narrative flags that while incremental cash flow from cost-cutting and portfolio optimization is intended to support dividends even during downturns, heavy dependence on fossil-derived feedstocks and possible regulatory costs may put future payouts at risk.
Deferred capital projects and focus on conserving cash increase the threat that investments essential to future growth could be postponed as dividends are prioritized.
On the flip side, consensus suggests improved free cash flow generation from cost measures may buy the company more time to keep dividends steady, provided revenue pressures don’t accelerate.
LyondellBasell shares recently traded at $46.42, less than half of the DCF fair value estimate of $90.28 and below the required figure to justify consensus price targets, making valuation a potential draw for value-seeking investors.
The consensus narrative highlights that, for investors to agree with analyst targets, LYB would need to deliver $2.2 billion in earnings on $29.2 billion revenue by 2028, with a price/earnings ratio of 11.0x. These levels ask investors to weigh cheap valuation against uncertainty in achieving these targets.
Bulls point to price-to-sales metrics and relative valuation versus the U.S. Chemicals industry as evidence of bargain pricing.
However, with profit forecasts diverging widely and ongoing market risks, consensus urges investors to sense-check assumptions against their own outlook for the business and sector.
To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for LyondellBasell Industries on Simply Wall St. Add the company to your watchlist or portfolio so you’ll be alerted when the story evolves.
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A great starting point for your LyondellBasell Industries research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.
LyondellBasell faces persistent losses, revenue declines, and uncertainty about maintaining its dividend, all while managing a vulnerable financial position.
If you want to focus on companies with stronger finances and greater resilience, check out solid balance sheet and fundamentals stocks screener (1974 results) built to perform through volatility.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include LYB.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
At one point, it was Europe’s most valuable company.
Now, as Danish pharmaceutical group Novo Nordisk prepares to publish its third-quarter earnings on Wednesday, the picture looks very different.
Jonathan Raa | Nurphoto | Getty Images
CNBC’s Charlotte Reed will travel to Copenhagen to speak with the company’s new CEO Mark Doustdar, a 30-year veteran of the company, who has been in the top job since August.
It’s not been an easy ride so far, with the group announcing a sharp decline in sales, pressure on profit, a round of jobs cuts and continued competition from U.S. rivals when it comes to the blockbuster obesity drug market.
Analysts’ views
Despite this, Berenberg is positive on the stock, saying Novo has hit “peak uncertainty.”
“Novo’s superior growth profile and best-in-class R&D returns warrants a higher valuation premium to its peers,” the bank added.
Other analysts are less forgiving.
Jefferies recently cut the stock’s rating to underperform, citing competitive pressure in the U.S. and pricing concerns. Meanwhile, UBS analysts are concerned Novo’s 8 billion Danish krone ($1.23 billion) one-off cost related to its restructuring has not been fully reflected on the bottom line, while adding that investors are continuing to question the group’s lack of consumer experience in the American market.
On Oct. 17, U.S. President Donald Trump told a press conference that the price of Novo’s blockbuster weight-loss drug Ozempic would be “much lower” as part of the administration’s negotiations over pricing with the company.
The share price has been under pressure since the start of the year.
Tough year for Novo Nordisk shares
Boardroom meltdown
Earnings releases this week:
Monday: Ryanair, Berkshire Hathaway
Tuesday: BP, Philips, Ferrari, Uber, Pfizer
Wednesday: Novo Nordisk, BMW, Orsted, ARM, McDonald’s
