The Breaker Times

Adidas reported an uptick in sales and operating profit in its third-quarter results on Tuesday, as the company continued to offload the remaining Yeezy products from its collaboration with musician Ye.

The sportswear giant said sales were up 10% in currency-neutral terms, driven by particular growth in the European and Latin American markets. North America sales dipped 7% in the third quarter, due solely to Adidas’ “significantly smaller Yeezy business.”

Overall sales rose 7% in euro terms to 6.4 billion euros ($6.9 billion), up from 5.9 billion euros in the same period of last year. Operating profit came in at 598 million euros versus 409 million euros in the third quarter 2023.

— Karen Gilchrist

Novartis reported 10% sales growth and 20% core operating income growth in its third-quarter results Tuesday, prompting the Swiss pharmaceutical company to raise its full-year guidance.

Net sales came in at $12.8 billion and core operating income was $5.15 billion in the three months to October. The company said it now sees net sales growing in the low-double digits for the full year.

The company pointed to “important innovation milestones,” including in the firm’s early breast cancer and nephropathy treatments, as having helped drive the revised outlook.

— Karen Gilchrist

Shares of e-commerce giants in China look attractive as Beijing attempts to stimulate domestic consumption, according to investor Jason Hsu.

Hsu, founder and chairman of Rayliant Global Advisors, revealed three of his top picks and one he is more cautious about due to company-specific factors.

Hsu said if signs of consumption growth return to China, one of the stocks could double from current levels.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Europe’s largest lender HSBC on Tuesday reported third-quarter earnings that beat analysts’ expectations, boosted by strong revenue growth, as it embarks on a major restructuring to balance its operations in China and the West.

HSBC’s pre-tax profit rose 10% compared with the $7.7 billion posted a year ago. The company’s quarterly revenue grew 5% to $17 billion from the $16.2 billion that was reported a year ago, while after-tax profit gained $500 million from last year to $6.7 billion.

Shares of HSBC traded 2.24% higher.

—Anniek Bao, Lee Ying Shan

Japan’s stock market rallied on Monday as the Yen plummeted to a three-month low following news that Prime Minister Shigeru Ishiba’s ruling coalition had lost a majority in the nation’s parliamentary election.

Such a phenomenon raises uncertainties as “we may not know how this new government is going to look like, who the potential coalition partners (are and what the) coalition agreements are going to be,” Izumi Devalier, chief Japan economist at Bank of America..

The pros lay out areas of concern – and opportunities they see – in Japan going forward.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

European markets are expected to open in flat to lower territory Tuesday.

The U.K.’s FTSE 100 index is expected to open 10 points lower at 8,283, Germany’s DAX down 25 points at 19,501, France’s CAC up 1 point at 7,564 and Italy’s FTSE MIB up 1 point at 34,819, according to data from IG.

Earnings are set to come from Adidas, Lufthansa, Novartis, Santander and BP, among others. Data releases of note include Germany’s GfK consumer confidence figures.

— Holly Ellyatt