Other news

Xerox Holdings Inc shares fell about 25% on Tuesday. The drop in the company's stock came after the photocopy maker cut its annual earnings and cash flow forecast.

The U.S. Food and Drug Administration (FDA) has approved a medicine (teclistamab) produced by Johnson & Johnson for therapy of multiple myeloma, or the type of blood cancer. Prior to this, the medicine has already been conditionally approved by the European drug regulator in August.

Microsoft shares fell due to weak sales of the Azure platform. Microsoft Chief Financial Officer Amy Hood estimates Azure revenue growth will be 37% in the current quarter, down 5% from the third quarter. Last quarter, Azure sales were up 42%.

Financial results, which exceeded all expectations, were published by Visa Corporation for the fourth quarter.

As reported by Bloomberg, oil flopped amid the release of an industry report that revealed an increase in crude oil stockpiles in the US. Investors were concerned about a decline in demand for oil amid slowing growth.

Reuters reports that Mobileye Global Inc, the unit of chip maker Intel Corp, which develops self-driving systems, raised $861 million in an initial public offering (IPO) without fear of trading volatility.

The European Commission said Tuesday that U.S. tobacco company Philip Morris has obtained permission from the European Union's antitrust agency to buy Swedish Match for $16 billion. The acquisition comes despite the giant's earlier statements on selling its logistics business.

Google has stated that it has a long history of protecting the privacy of its users, including pushing back against overbroad government demands for user data.

In the next year, General Electric Co is likely to experience difficulties associated with a less stable operating environment, as stated by the company's Chief Executive Officer Larry Culp, who nonetheless believes his company is capable of coping with this challenging environment.

According to Reuters, Elon Musk plans to close the deal of acquiring Twitter Inc by Friday, as he informed his co-investors, who provide funding of this purchase. The social network’s acquisition will cost Musk $44 billion.