09.10.2024
Samsung disappoints with weak quarterly figures + PepsiCo Inc. outperforms in the third quarter + SHARES IN THE FOCUS: DocMorris turns positive
The latest business figures from Samsung $SMSD (+0.89%) fall short of market expectations. In its quarterly outlook for the months of July to September, the South Korean electronics giant assumes that the operating profit of 9.1 trillion won (around 6.1 billion euros) has increased fourfold year-on-year. However, compared to the previous second quarter of the year, profits fell by almost 13 percent. The markets reacted with disappointment. Samsung's share price fell by more than 1.3 percent immediately after the publication of the quarterly outlook. Experts attribute the comparatively weak quarterly figures to the fact that the market leader for memory chips, smartphones and televisions is currently lagging behind in the development of high-performance semiconductors in the booming AI market. In particular, direct competitors Nvidia and SK Hynix are putting Samsung under heavy pressure. The business figures are only an initial estimate. The Group will only publish more precise figures at a later date, probably at the end of the month.
The shares of DocMorris $DOCM (+8.95%) turned clearly positive on Tuesday morning in a weak market environment. The shares of the Swiss competitor of Redcare Pharmacy $RDC (+9.53%) gained over 6 percent, while Redcare remained rather inconspicuously in the red. An article in "Apotheke Adhoc" entitled "Is Redcare going after DocMorris?" generated demand for DocMorris. According to the article, Redcare has now "left DocMorris far behind - and could even absorb it sooner or later".
PepsiCo Inc. $PEP (+1.38%) outperformed analysts' estimates of USD 2.29 with earnings per share of USD 2.31 in the third quarter.
- Sales of USD 23.32 billion below expectations of USD 23.9 billion.
- Due to product recalls and geopolitical tensions, Pepsico expects a slower increase in sales in the current financial year and only anticipates low single-digit growth.
- Pepsico is sticking to its earnings forecast and expects adjusted earnings per share of at least eight percent excluding currency effects and at least seven percent including currency effects to USD 8.15.
- Pepsico reported sales of USD 23.3 billion in the third quarter, down 0.6 percent year-on-year, while organic sales increased by 1.3 percent.
- In the third fiscal quarter, Pepsico earned USD 2.9 billion, five percent less than in the same period last year, due to product recalls at Quaker Foods and lower earnings at the snack division Frito-Lay.
Wednesday: Stock market dates, economic data, quarterly figures
Stock exchange holiday in South Korea
ex-dividend of individual stocks
Mastercard Registered (A) USD 0.66
Gap USD 0.15
Quarterly figures / company dates Europe
08:15 Traton Pre-Close Call 3Q
No time specified: Bechtle Capital Markets Day
Economic data
- 08:00 DE: Trade balance August trade balance calendar and seasonally adjusted PROGNOSE: +18.5bn euros previous: +16.8bn euros Exports PROGNOSE: -1.0% yoy previous: +1.7% yoy Imports PROGNOSE: -2.8% yoy previous: +5.4% yoy
- 14:00 US: Atlanta Fed President Bostic to speak at Greater Atlanta Home Builders Association event
- 16:00 US: Wholesale sales 8/24
- 16:30 US: EIA crude oil inventories previous week
- 20:00 US: Fed, minutes of FOMC meeting Sept. 17/18