Live from markets: Teleperformance, Stellantis, Believe, CGG, Spee, Hugo Boss, Lufthansa… – 03/07/2024

in France

Results of the company (comments are given directly and do not prejudge the evolution of the securities)

• CGG publishes declining results in 2023 but remains confident of reducing its debt.
• Ellis expects stable margins and modest sales growth this year.
• Eurazio posted consolidated net income of €1.85 billion in 2023 and confirmed its outlook. The dividend is up 10% to 2.42 EUR.
• JCDecaux forecasts 9% organic growth in Q1 but will pay no dividends to maintain its financial flexibility.
• Spie raises its margin forecast for 2025 after reaching its target in 2023.
• Teleperformance is cautious for 2024 after its profit decline.

Important (and not so important) announcements

• Stellantis to invest $6 billion in Brazil by 2030.
• Warner Music Group confirms its expression of interest in the Believe company.
• M6 Métropole Télévision will launch its new M6+ streaming platform in May.
• Hoffmann Green Cement expands its partnership with Boygues Immobilier.
• Mauna Kay has partnered with Metrodora to create a center of excellence in the United States for the use of Cellvisio in the identification and treatment of food intolerances in adults.
• Afyren is collaborating with Suez to develop a new way to recover biowaste.
• Boostheat and Enertime are launching a project to develop a hydrogen compressor.
• Unidic offers multi-pathology predictive assessment with PrediLife to its employees.
• Key releases of the day: Rubis, Antin, Vision, Steph, Frey, CBO Territoria, Damartex, Global Bioenergies, Sevensia, Chargers, Sword, McPhee…

In the big world

Company results (comments are given directly and do not prejudge the evolution of securities, except for post-session exchanges in the United States, which generally reflect trends well)

• Aviva posted a 9% rise in profits for 2023 and offered to buy back shares.
• Brantag misses the prediction in 2.023.
• Brown-Forman lost 7% yesterday after cutting its annual sales forecast.
• Continental reported a lower-than-expected annual operating profit due to a tough market.
• Darktrace revises its revenue and margin forecasts upward for the full year.
• Hugo Boss forecasts operating profit for 2024 that falls short of market expectations.
• Lufthansa cut its operating margin target to 7.6% for 2024 due to rising costs.
• Merck KGaA expects organic profit growth in 2024.
• Nexi closes 2023 with impairment-linked losses of €1.3 billion and announces €500 million in share buybacks.
• Pagegroup reports a drop in its annual profit due to a sluggish job market.
• Telecom Italia has halved its net loss to €1.44 billion in 2023. The renewed operator is the CEO.

Important (and not so important) announcements

• New York Community Bancorp raises $1 billion and hires Joseph Otting as CEO. The stock jumped 7.5% yesterday after the announcement.
• KKR is negotiating a takeover of Encavis, which is said to be worth around €2 billion.
• Generali is set to invest more than €10 billion in acquisitions.
• Meta was called to order by a coalition of 41 American prosecutors.
• Apple has terminated the developer account of Fortnite maker Epic Games.
• Novo Nordisk will present preliminary trial results for a new diabetes drug at a meeting with investors.
• According to Bloomberg, UBS has abandoned Credit Suisse’s plan to phase out coal financing.
• WuXi AppTec fell 15% after the US Senate Homeland Security Committee voted in favor of a bill that could restrict trade with Chinese biotech companies.
• Reiter wins orders in China.
• Vetropack plans to close its St-Prex site
• Key releases of the day: Costco Wholesale, Oracle, Kroger, MongoDB, Merck KGaA, Continental, Aviva, Brenntag, Rentokil, Vivendi, Lufthansa… The whole agenda is here.

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