Philips (NYSE:PHG) reports a net loss of €104M for the quarter ending Sept. 30, compared with a €282M net profit in the same period in 2013.
The Dutch technology company missed analyst estimates due to several factors, including unfavorable exchange rates, sluggish demand in Europe and China, and the continued fallout from sanctions against Russia.
Philips' results were also hit by a $467M charge after losing a legal battle to Masimo, which accused Philips of infringing on tech patents.
French Finance Minister Michel Sapin reaffirmed that France would pursue a slow deficit reduction due to its need to maintain its fragile recovery, ahead of a meeting in Berlin with German counterpart Wolfgang Schaeuble.
Sapin also reiterated that Germany should lead an effort to boost investment in the euro zone, promising that France would continue to pursue structural reforms.
Regarding the country's budget, French Economy Minister Emmanuel Macron announced Sunday that he was sure the European Commission would not reject Paris' 2015 plan although it breaks EU deficit limits.
German pilots union VC called for yet another strike at Lufthansa (OTCQX:DLAKY) Tuesday, targeting the airline's long-haul flights, in addition to strikes for the carrier's short and mid-length routes announced for today and tomorrow.
The strike is the eighth at Lufthansa this year, as pilots dispute retirement benefits.
Lufthansa has cancelled 1,450 flights as a result, affecting more than 200K passengers and two thirds of its scheduled flights.
Yahoo (NASDAQ:YHOO) is expected to outline cost-cutting efforts and give details of how it is evaluating possible acquisitions tomorrow, as the company faces pressure from activist investor Starboard Value.
The struggling Internet business is considering buying one or more large technology start-ups with some of the $5.8B it made off of Alibaba's IPO.
Acquisitions could trigger significant new streams of revenue at Yahoo, where sales have declined in four out of the past five quarters.
Bristol-Myers Squibb (NYSE:BMY) will hold a teleconference on Friday, October 31 at 1:30 pm CT/2:30 pm ET to review data presented at the Chicago Multidisciplinary Symposium on Thoracic Oncology. The focus will be on the firm's immuno-oncology portfolio.