25.07.2024 + Frankfurt Airport completely paralyzed + Tech correction continues + AT&T gains significantly after figures + IBM exceeds expectations + Nordex raises sales forecast + STM lowers forecast
Air traffic completely shut down: Climate criminals bring Frankfurt Airport to a standstill
https://www.bild.de/news/seit-donne...-flughafen-frankfurt-66a1ccf337108137b458c15b
The sell-off on Wall Street the previous evening was echoed on the Asian stock exchanges on Thursday. This continues the recent slump on the regional stock exchanges, which has recently only been interrupted by brief interim recoveries on a daily basis. The technology sector in particular is once again suffering after US sector companies failed to impress with their business figures. According to traders, AI hopes are now being questioned more and more critically.
AT & T Inc. $T (-0.03%) hit analysts' estimates in the second quarter with earnings per share of $0.57. Sales of $29.8 billion below expectations of $29.98 billion.
IBM $IBM (+0.41%) second quarter EPS of $2.43 beats analyst estimates of $2.17. Revenue of $15.8 billion beats expectations of $15.62 billion. IBM confirms free cash flow outlook for the fiscal year and expects $12 billion and year-over-year revenue growth by division: Software +7.1 percent, Consulting -0.9 percent, Infrastructure +0.7 percent.
STMicroelectronics $STM (+0.43%) continues to suffer from weak demand for chips from the automotive industry. The semiconductor manufacturer has now lowered its sales and margin forecast for the year as a whole again after April. STMicro now expects sales of 13.2 to 13.7 billion US dollars. Previously, the Group had assumed sales of 14 to 15 billion. The gross margin is now expected to be around 40 percent. The previous forecast had been for a value in the lower 40 percent range.
Nordex $NDX1 (+1.4%) achieved sales of €3.4 billion (previous year: €2.8 billion, analyst forecast: €3.1 billion), EBITDA of €118 million (previous year: -€114 million), an EBITDA margin of 3.4% (previous year: -4.2%), total output of 3.3 megawatts (previous year: 2.8 MW) and a net result of -€12.5 million (previous year: -€299 million) in the first half of the year. Order backlog at the end of June at €11.0 billion (previous year: €6.9 billion at the end of 2023). In the outlook for 2024, Nordex now sees the EBITDA margin at 3% to 4% (previously: 2% to 4%) and confirms a medium-term EBITDA margin of 8%. Wind turbine manufacturer Nordex's margin expectations for 2024 are slightly better after the first half of the year. The company announced in Hamburg on Thursday that earnings before interest, taxes, depreciation and amortization (EBITDA) are likely to be between 3 and 4 percent of sales this year. Previously, the lower end of the range was 2 percent, after only just breaking even operationally in 2023. In the medium term, Nordex is still aiming for an earnings margin of 8 percent, but is still busy working off unprofitable old orders.
Thursday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
Royal Bank of Canada CAD 1.42
Quarterly figures / company dates USA / Asia
01:30 SK Hynix quarterly figures
07:00 Hyundai quarterly figures
09:25 Nissan quarterly figures
12:30 Honeywell quarterly figures
13:00 American Airlines quarterly figures
13:45 Abbvie quarterly figures
22:05 Verisign quarterly figures
Quarterly figures / Company dates Europe
07:00 Roche | Nordex | Siltronic | Essilor-Luxottica | Julius Baer Quarterly figures
07:00 STMicroelectronics | Takkt | Vossloh | Renault Quarterly figures
07:15 Nestle | Air France quarterly figures
07:30 Aixtron | Befesa | Sanofi | Stellantis | Andritz quarterly figures
07:30 Baader Bank | Drägerwerk quarterly figures
08:00 LPKF | Verbund | Anglo American | Astrazeneca
08:00 British American Tobacco | BT Group | Relx | Unilever quarterly figures
08:00 Unibail-Rodamco | Lloyds Banking quarterly figures
08:00 Vodafone Trading Update 1Q
08:05 Totalenergies half-year figures
09:00 Audi half-year figures
10:00 Heidelberger Druckmaschinen AGM | Siltronic Analyst Conference
14:00 Deutsche Börse Analyst and Investor Conference 2Q
14:00 Dow Inc. quarterly figures
17:45 Vinci half-year results
17:50 Enel half-year results
18:00 Hermes International | Vivendi Half-year results
18:05 Saint-Gobain Half-year results
Economic data
- 08:45 FR: Business Climate Index July PROGNOSIS: 99 previous: 99
- 10:00 DE: Ifo Business Climate Index July PROGNOSE: 88.8 PREVIOUS: 88.6 Situation assessment PROGNOSE: 88.4 PREVIOUS: 88.3 Business expectations PROGNOSE: 89.2 PREVIOUS: 89.0
- 10:00 EU: ECB, Money Supply M3 and Lending June Money Supply M3 FORECAST: +1.9% yoy previously: +1.6% yoy
- 14:30 US: GDP (1st release) 2Q annualized PROGNOSE: +2.1% yoy Q1: +1.4% yoy GDP deflator PROGNOSE: +2.6% yoy Q1: +3.1% yoy
- 14:30 US: Initial jobless claims (week) FORECAST: 235,000 Previous: 243,000
- 14:30 US: New orders for durable goods June PROGNOSE: +0.3% yoy previous: +0.1% yoy
- 15:00 BE: Business Climate Index July FORECAST: -12.7 points previous: -11.6 points
