Month: October 2024

Philips cuts outlook as China demand slumps, Q3 revenue misses estimates

Philips reported third-quarter results that posted a revenue miss and a revised outlook, primarily due to weaker demand in China. Revenues missed consensus by 3%, and order intake fell by 2% after a strong prior quarter. While adjusted EBITA was in line with expectations, analysts at UBS said that this figure was boosted by unusually high royalty income. Without this benefit, the adjusted EBITA would have missed by 8%. The overall revenue shortfall has raised concerns about Philips’ growth, with management revising its full-year revenue growth forecast downward from an anticipated 3%-5% to a range of 0.5-1.5%. This revision reflects heightened uncertainties, particularly in China, where demand challenges have deepened. UBS analysts flagged underperformance across several Philips segments. Diagnosis & Treatment sales were 3% below consensus, showing only a 1% organic fall, which fell short of the expected 2% growth. Connected Care sales and Personal Health both trailed expectations, missing forecasts by 3% and 7%, respectively, and each recorded no organic growth or declines compared to anticipated increases. UBS noted that even with a favorable income boost from royalties, underlying profitability remains under strain. Management’s guidance cut and the broader revenue miss have weighed on investor sentiment, with UBS analysts suggesting this could lead to further scrutiny, especially given the company’s disappointing order intake following an already soft comparison period last year. “We believe there had been some hopes for a margin guidance raise, but instead we’re likely to get 2-3% cuts to sales and adj EBITA. We see the shares off MSD, maybe a little more,” said analysts at J.P. Morgan in a note. https://preview.redd.it/6uv9rngjlgxd1.png?width=728&format=png&auto=webp&s=0680e5256a622efb74fe217d87bc1d1bdba8e4a8 submitted by /u/Lor1al [link] [comments]

US net interest payments as a share of GDP are expected to reach a record 4.6% next year. That would more than DOUBLE World War 2 levels and exceed the all-time highs seen in the 1990s.

This is also much higher than net interest as a % of GDP in all 38 OECD countries. Countries with relatively high interest such as Greece, Ireland, Spain, and Portugal are expected to reach interest-to-GDP ratios that are HALF the size of the US. To make things worse, these forecasts assume lower interest rates over the next year. submitted by /u/XGramatik [link] [comments]

📊 Brent / WTI Oil prices: stability at $75 per barrel The US oil inventory report did not provide a clear signal, reflecting the current state of the market.

📊 Oil prices: stability at $75 per barrel The US oil inventory report did not provide a clear signal, reflecting the current state of the market. According to Commerzbank commodities analyst Barbara Lambrecht, the price of Brent crude oil has stabilized at around US$75 per barrel. For now, this level remains stable, but further changes in the market should be monitored. submitted by /u/Yuriy_UK [link] [comments]

Volkswagen weighs wage cuts, bonus reductions in push to save 4 billion euros – Handelsblatt

Volkswagen is exploring a series of cost-cutting measures for its core brand, including a 10% wage cut and a two-year wage freeze, as it seeks to save 4 billion euros, Handelsblatt newspaper reported on Sunday, citing company insiders. The carmaker is under increasing pressure to reduce expenses amid a challenging economic climate. Workers, meanwhile, have criticized management for not presenting a clear future strategy, despite promises of a new plan in the works. According to Handelsblatt, Volkswagen’s leadership has discussed several potential cost-saving moves. These include capping bonuses for top-tier employees, reducing additional payments for employee anniversaries, and exploring possible closures of some German production sites. A Volkswagen spokesperson declined to comment to Handelsblatt on the ongoing negotiations with the company’s works council and IG Metall, Germany’s powerful metalworkers’ union. Since early October, Volkswagen’s management has been meeting weekly with worker representatives from its German plants, analysing where cost cuts can be made and which models will be produced at each location. Negotiations over wage increases are handled separately, according to a union spokesperson, with the next formal round set for Oct. 30. https://preview.redd.it/3s9vb3sh8dxd1.png?width=800&format=png&auto=webp&s=9e8f35424225c8f03625c86d20eac4395b372e99 submitted by /u/Lor1al [link] [comments]

Here is a list of top books recommended by Seth Klarman, reflecting his value investing philosophy and deep understanding of financial markets:

The Intelligent Investor by Benjamin Graham: A foundational text on value investing, focusing on concepts like intrinsic value, margin of safety, and managing market volatility. https://preview.redd.it/rkb7so069dxd1.png?width=512&format=png&auto=webp&s=2a24b2ba3b3ee1201476af603dd1252b4ca011b4 Security Analysis by Benjamin Graham and David Dodd: A comprehensive guide to value investing and financial analysis, introducing key ideas such as buying assets below their intrinsic value. https://preview.redd.it/2n1ey7n79dxd1.png?width=651&format=png&auto=webp&s=8f4c1ae25584d7e3d50f197bda0bd6e441813737 You Can Be A Stock Market Genius by Joel Greenblatt: This book explores overlooked investment strategies, like spin-offs and arbitrage, that can help individual investors find undervalued stocks. https://preview.redd.it/zmpkmgs99dxd1.png?width=657&format=png&auto=webp&s=2446b6730905026b094c801c176c0c4ea14cef73 The Money Culture by Michael Lewis: A series of essays on the high-stakes, extravagant culture of Wall Street, offering insightful commentary on financial excesses. https://preview.redd.it/lfb6294c9dxd1.png?width=664&format=png&auto=webp&s=4d3ed4b92ebf451a93a5599a390c617888ee4ba1 The Aggressive Conservative Investor by Martin Whitman: This work dives into fundamental analysis, with a focus on achieving strong returns through conservative investment strategies. https://preview.redd.it/svv26bee9dxd1.png?width=300&format=png&auto=webp&s=b1d891044878fb42fe053c6b038cd10dd3f62800 Moneyball: The Art of Winning an Unfair Game by Michael Lewis: Though sports-focused, it draws parallels to investing by showing how statistical analysis can uncover hidden value. https://preview.redd.it/qz3b15cg9dxd1.png?width=822&format=png&auto=webp&s=0ff7cf2304b970bc24f5247d761e78a475507957 When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein: A captivating story about the collapse of a prominent hedge fund, offering lessons on risk management. https://preview.redd.it/8lch1v6i9dxd1.png?width=781&format=png&auto=webp&s=072ebcb2efcf398a65db9324d4aa6e9031973f62 Too Big to Fail by Andrew Ross Sorkin: A detailed account of the 2008 financial crisis, providing insights into the interconnected nature of financial institutions. https://preview.redd.it/c6kj93zj9dxd1.png?width=325&format=png&auto=webp&s=19d275289de345ecc59cfd87a52efc7183cfb631 submitted by /u/Lor1al [link] [comments]

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The founding fathers wouldn’t accept this The Dor Brothers: AI Makin’ Trouble Make America Great Again – starting with McDonald’s delivery! This is what men gamble their entire net worth for Taxes are the powerhouses of living me Well done, kid, now the hardest task Boy understood this world This picture shows exactly how our monetary system works After the implantation of Neuralink’s magical chips, war in 2040 will look something like this One Hand Killing. AI has finally rebelled. AI is completely out of control (The Dor Brothers) AI is getting out of hand 🔥 P.S. Add yours. Never hesitate to post here, just follow rules and keep it on topic. submitted by /u/XGramatik [link] [comments]