25.10.2024
Lilium subsidiaries have to file for insolvency + Shop Apotheke and DocMorris pick up + US parcel service UPS earns more than expected + Bilfinger shares under pressure after tragedy in the USA
After the end of state support, Lilium announces Lilium $LILM (-2.93%) announces that its most important subsidiaries will file for bankruptcy. The air cab developer's share price then plummets by more than 58 percent.....
On Thursday, market observers pointed to positive signals in a court case involving mail-order pharmacies in the landmark proceedings over price discounts on prescription drugs. The shares of Redcare Pharmacy $RDC (-4.75%) extended their gains by up to five percent and were still up by almost four percent in the afternoon. The competitor DocMorris $DOCM (-4.22%)which at times extended its gains in Zurich to more than ten percent. DocMorris shares thus recovered strongly from the most recent low since June 2023. Redcare shares continued their recent rally. They have gained almost 30 percent since mid-September. However, they once again encountered resistance at the EUR 150 mark. Analyst Thomas Rothäusler from Jefferies pointed out that an attorney general had issued a final opinion in proceedings in which DocMorris is taking on the North Rhine Chamber of Pharmacists. This opinion was very clearly in favor of bonuses on prescription drugs. According to Rothäusler, the final result is likely to have a significant impact on the future growth of online pharmacies. According to the expert, the final ruling of the European Court of Justice is expected in the next two to three months.
The US parcel service UPS $UPS (-0.25%) earned a surprisingly high profit in the third quarter thanks to good business and the sale of a subsidiary. The bottom line was a profit of a good 1.5 billion US dollars (1.4 billion euros), around 37 percent more than a year earlier, as United Parcel Service (UPS) announced in Atlanta on Thursday. Even without the special effect, this was more than analysts had expected on average. For the year as a whole, however, CEO Carol Tomé is now expecting lower turnover because the sold subsidiary Coyote Logistics is no longer included in the figures. According to Tomé, the Group's turnover is only expected to reach around 91.1 billion dollars in 2024. She had previously forecast 93 billion. However, before special effects, a larger share of turnover is expected to remain as operating profit at UPS. The manager is therefore expecting an adjusted operating margin of around 9.6 percent. Previously, she had assumed 9.4 percent. In the third quarter, UPS reported a turnover of 22.2 billion dollars, 5.6 percent more than a year earlier. This was about as much as analysts had expected on average.
The collapse of a ferry dock in the USA caused the shares of Bilfinger $GBF (+2.27%) shares on Thursday. The share price fell by 6.8 percent to 46.25 euros. If this remains the case, it would be the biggest daily loss in almost two years. In a letter of condolence, Group CEO Thomas Schulz and the head of the US subsidiary Centennial Contractors Enterprises, Geoff Preisman, expressed their deepest sympathy to the families of seven people who reportedly lost their lives in the collapse of a ferry dock on October 19. The accident occurred on the island of Sapelo off the coast of the US state of Georgia. Centennial acted as the general contractor for the construction of the dock and pier in question, the statement continued. The company worked with local subcontractors and suppliers to complete the project in November 2021. Should Centennial, as the general contractor, have to assume liability for the accident, a payment of an estimated 50 to 100 million euros is imminent, said a stock market analyst. This scenario is weighing on the Bilfinger share price.
Friday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
Fastenal USD 0.39
Quarterly figures / company dates USA / Asia
13:00 Colgate-Palmolive Quarterly figures
Quarterly figures / company dates Europe
06:30 Sika quarterly figures | Holcim | SGS Trading Update 3Q
07:00 Mercedes-Benz | Stratec | Signify quarterly figures | Safran sales 3Q
07:30 Sanofi quarterly figures | Remy Cointreau Q2 sales
07:45 Eni quarterly figures
08:00 Yara quarterly figures | Mercedes-Benz analyst conference
09:00 Holcim analyst and press conference
09:15 Mercedes-Benz PK
14:00 Sanofi Analyst Conference
17:30 Porsche AG quarterly figures and press conference
Economic data
01:30 JP: Consumer prices Greater Tokyo October core rate (ex food)
FORECAST: +1.7% yoy previously: +2.0% yoy
08:45 FR: Consumer Confidence October FORECAST: 95 previous: 95
10:00 DE: ifo Business Climate Index October PROGNOSE: 85.6 PREVIOUS: 85.4 Situation assessment PROGNOSE: 84.3 PREVIOUS: 84.4 Business expectations
PROGNOSE: 87.0 PREVIOUS: 86.3
10:00 EU: ECB - October consumer survey results | Publication of consumer survey results | ECB, M3 money supply and lending September M3 money supply FORECAST: +3.0% yoy previously: +2.9% yoy
14:30 US: New orders for durable goods September
PROGNOSE: -1.0% yoy previous: 0.0% yoy
16:00 US: Consumer Sentiment Index Uni Michigan (2nd survey) October
FORECAST: 69.0 1st survey: 68.9 previous: 70.1
