04.11.2024
Investors see the chance of a turnaround at Intel + Tesla employees sue + Shell fights for approval + Vonovia builds on sales proceeds
Intel $INTC (+1.8%) has announced its results for the 3rd quarter of 2024. Once again, the company reported a decline in sales compared to the previous year, and the loss of almost 17 billion US dollars was higher than ever before. However, the share price rose due to write-downs and restructuring and a positive outlook.
The employees of the US electric car manufacturer Tesla $TSLA (-4.58%) at the German plant in Grünheide feel overworked and complain of work-related pain. According to Handelsblatt, this is the result of a survey conducted by IG Metall, in which more than 1,200 employees took part, according to the union. The results are shocking, said IG Metall district manager Dirk Schulze in an interview with Handelsblatt. While the company did not comment on the issue, Tesla's works council distanced itself from the union survey. (Handelsblatt)
The energy company Shell $SHEL (-0.74%) is fighting for approval to sell its onshore oil and gas business in Nigeria worth 1.3 billion US dollars after the sale was blocked by regulators. The group and proposed buyer Renaissance Africa Energy were informed by the Nigerian regulator in August that the deal could not be approved in its current form, people familiar with the matter said. Both companies have been lobbying intensively since then, but have been unable to persuade the regulator to change course. Shell chief executive Wael Sawan told the newspaper that talks with the regulator were continuing. (Financial Times).
At Vonovia $VNA (+2.37%) has made some progress since the second quarter: shortly after the end of the third quarter, the target of generating 3 billion euros in liquidity through sales proceeds this year has been exceeded with 3.3 billion euros, and the Group is scratching at the 4 billion euros of the previous year. And Vonovia CEO Rolf Buch is pressing ahead with the integration of the subsidiary Deutsche Wohnen: Extraordinary general meetings at Vonovia and Deutsche Wohnen, in which Vonovia holds just under 87 percent, are soon to approve a domination and profit and loss transfer agreement, under which minority shareholders are to be compensated with new Vonovia shares and a compensation payment. The results for the third quarter will therefore take a back seat. The residential real estate group is also likely to present a forecast for the coming year, as it intends to switch from "consolidation" and debt reduction to growth again from 2025. Quarterly figures on Thursday, November 6, 2024 7:00 am.
Monday: Stock market dates, economic data, quarterly figures
Stock market holiday in Japan and Russia
ex-dividend of individual stocks
Citigroup USD 0.56
Quarterly figures / company dates USA / Asia
13:00 Marriott International quarterly figures
22:05 Altice quarterly figures
Untimed: American International Group Quarterly figures
Quarterly figures / Company dates Europe
07:00 Ryanair half-year figures
11:00 Clariant Investor Day
12:00 Biontech quarterly figures
14:00 Biontech Analyst Conference
Untimed: NXP Semiconductors quarterly figures
Economic data
- 09:45 IT: Purchasing Managers' Index/PMI manufacturing October PROGNOSIS: 48.4 previous: 48.3
- 09:50 FR: Purchasing Managers' Index/PMI Manufacturing (2nd release) October FORECAST: 44.5 1st release: 44.5 PREV: 44.6
- 09:55 DE: Purchasing Managers' Index/PMI Manufacturing (2nd release) October FORECAST: 42.6 1st release: 42.6 Previous: 40.6
- 10:00 EU: Purchasing Managers' Index/PMI manufacturing Eurozone (2nd release) October FORECAST: 45.9 1st release: 45.9 PREV: 45.0
- 10:30 UK: Purchasing Managers' Index/PMI Manufacturing (2nd release) October FORECAST: n.a. 1. Release: 50.3 Previous: 51.5
- 15:30 US: US and Canadian stock markets start again at the usual time at 15:30
- 15:45 US: Purchasing Managers' Index/PMI Manufacturing (2nd release) October PROGNOSIS: n.a. 1st release: 47.8 previous: 47.3
- 16:00 US: Industrial New Orders September FORECAST: -0.5% yoy previous: -0.2% yoy
