Hornbach Holding sets itself modest targets + Wolfspeed prepares to file for insolvency + Siemens senses a unique opportunity in AI
Hornbach Holding $HBH (-1.24%)sets itself cautious targets
- The poor consumer sentiment and ongoing cost pressure will weigh on the DIY store and building materials group Hornbach Holding in the coming months.
- Despite ongoing spending discipline, further cost increases are expected due to inflation-driven salary rises, as the company announced on Wednesday in Bornheim when presenting its figures for the past 2024/2025 financial year (to the end of February).
- Meanwhile, the start to the spring season was "very successful", according to the statement.
- However, the volatile macroeconomic and geopolitical environment continues to pose risks with regard to supply chains and consumer sentiment.
- The management expects sales for the new financial year, which has been running since the beginning of March, to be at or slightly above the previous year's level, when 6.2 billion euros were generated.
- This will be helped not least by newly opened stores. At the same time, only stable adjusted operating earnings before interest and taxes are expected compared to the 270 million euros achieved last year.
- Analysts had expected an increase.
- Hornbach had already presented preliminary figures for the past financial year almost two months ago.
- These have now been confirmed.
Wolfspeed $WOLF (-7.21%)is preparing to file for insolvency in the coming weeks
- Semiconductor supplier Wolfspeed is preparing to file for insolvency in the coming weeks as the company is struggling to cope with its mountain of debt.
- This was reported by the Wall Street Journal on Tuesday, citing people familiar with the matter.
- The company's shares fell by more than 57 percent in after-hours trading.
- Wolfspeed is struggling with sluggish demand in the industrial and automotive markets as well as uncertainty caused by tariffs.
- According to the report, the company plans to file for Chapter 11 bankruptcy with the support of a majority of its creditors after several out-of-court restructuring proposals were previously rejected by creditors.Wolfspeed declined to comment to Reuters.
- The company, which manufactures chips based on silicon carbide, had already expressed doubts about its ability to continue as a going concern earlier this month and forecast weaker annual sales than expected.
- Wolfspeed expects sales of USD 850 million for 2026, which is significantly below analysts' estimates of USD 958.7 million.
Siemens $SIE (-2.45%)senses a unique opportunity in artificial intelligence (AI)
- to take the digitalization and automation of industry to a new level.
- Peter Körte, who has been responsible for technology and strategy on the Siemens Managing Board since October, sees Europe as a leader in industrial AI, and Siemens in particular, and announced a major AI model for industry with which the technology group intends to expand its leading role.
- In his opening speech at the two-day AI conference, he referred to the larger industrial base in Europe compared to the United States and the leading role of companies in aviation, car production, the pharmaceutical industry and mechanical engineering. (FAZ)
Wednesday: Stock market dates, economic data, quarterly figures
- ex-dividend of individual stocks
- Nemetschek SE € 0.55
- Symrise AG € 1.20
- Jungheinrich AG € 0.80
- SAF Holland SE € 0.85
- SMT Scharf AG Reg- istered Shares € 0.21
- FCR Immobilien A- G Ordinary Shares € 0.45
- Quarterly figures / Company dates USA / Asia
- 18:00 Amazon AGM
- Quarterly figures / Company dates Europe
- 07:00 Hornbach Holding Annual results
- 10:00 CTS Eventim | Porsche AG | SGL Carbon | Swatch AGM
- 11:00 Puma AGM
- 16:00 Halliburton | United Airlines | Mondelez AGM
- 18:00 Freenet quarterly figures
- Economic data
01:50 JP: April trade balance
08:00 UK: Consumer prices April Forecast: +1.0% yoy/+3.4% yoy Previous: +0.3% yoy/+2.6% yoy Core Forecast: +1.2% yoy/+3.6% yoy Previous: +0.5% yoy/+3.4% yoy
10:00 EU: ECB, Financial Stability Report May 2025
16:30 US: Crude oil inventory data (week) from the government Energy Information Administration (EIA) previous week
No time specified:
- US: U.S. President Trump, meets South Africa's President Ramphosa
- CA: Continuation of the meeting of G7 finance ministers and central bank governors (20-22.05.)
