10.07.2024 +++ Tesla continues in the fast lane +++ VW and Porsche issue profit warnings +++ Burberry cuts jobs +++ Evotec and Pfizer join forces +++

VOLKSWAGEN (VW) $VOW (+1.96%) the full-year outlook. The operating margin is lowered to 6.5-7.0% from 7-7.5% (forecast was 7.1%).

Porsche Automobil Holding $PAH3 (+0.42%)Due to the equity investment in Volkswagen (31.9%), the Group result after tax is significantly influenced by the result after tax at Volkswagen. For the financial year 2024, Porsche Automobil Holding now expects Group profit after tax of EUR 3.5-5.5 billion (previously EUR 3.8-5.8 billion).

Tesla share $TSLA (-4.58%) +3.71% to $262.33 at the close of the US stock market. The share is still in the fast lane, having risen for the 10th day in a row the previous day. Since June 24, the stock has gained 43%.

The British luxury goods manufacturer Burberry $BRBY (-0.11%) is planning to cut up to 400 jobs, according to media reports. This is part of extensive cost-cutting measures with which the FTSE 100 company is reacting to falling profits.

EVOTEC $EVT (+1.24%) is entering into a cooperation with PFIZER $PFE (+1.49%) for R&D metabolic and infectious diseases.

Wednesday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

AT&T USD 0.28

Verizon Communications USD 0.67

Quarterly figures / company dates Europe

07:30 About You quarterly figures

10:00 BMW sales figures 2Q

11:00 Volkswagen sales 2Q

Economic data

• 08:00 DE: Construction prices for residential buildings May
• 10:00 DE: ECB Governing Council member Nagel, greeting at the VdB Bundesbank Trade Union Conference
• 16:00 DE: Governing Council member Nagel, panel discussion with economist Bofinger
• 16:30 AT: Governing Council member Holzmann, speech at energy policy event
• 16:30 US: EIA Crude Oil Inventories