$KDP (-0.35%)
$7751 (-3.88%)
$NXPI (+0.65%)
$WM (-0.74%)
$CDNS (-0.15%)
$BN (+1.13%)
$SOFI (+0.66%)
$UNH (-0.25%)
$AMT (-0.95%)
$UPS (+0.23%)
$BNP (-1.33%)
$NVS (-0.23%)
$DB1 (-0.63%)
$MSCI (-0.35%)
$ENPH (-0.12%)
$BKNG (-0.45%)
$LOGN (-0.3%)
$V (-0.08%)
$MDLZ (+0.23%)
$PYPL (+0.06%)
$000660
$MBG (+0.22%)
$BAS (-0.12%)
$UBSG (-0.11%)
$SAN (-0.76%)
$CVS (-0.25%)
$OTLY (+1.1%)
$GSK (-0.05%)
$ETSY (-0.22%)
$CAT (-0.22%)
$KHC (-0.01%)
$ADYEN (-0.19%)
$ADS (-0.67%)
$AIR (-0.38%)
$SBUX (-0.15%)
$CMG (-0.14%)
$META (-0.14%)
$KLAC (+0.35%)
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$GOOGL (-0.15%)
$EQIX (-0.66%)
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$EBAY (-0.05%)
$005930
$6752 (-0.24%)
$KOG (-0.65%)
$VOW3 (+0.13%)
$GLE (-0.17%)
$LHA (-0.45%)
$STLAM (-0.52%)
$SPGI (+0.02%)
$MA (-0.42%)
$PUM (+0.16%)
$AIXA (+0.13%)
$FSLR (+0.06%)
$AAPL (-0.23%)
$REDDIT (-0.95%)
$AMZN (-0.14%)
$NET (+0.01%)
$MSTR (-0.45%)
$GDDY (+0.44%)
$TWLO (+0.22%)
$COIN (-0.37%)
$066570
$CL (+0.04%)
$ABBV (-0.15%)
$XOM (-0.65%)

After giving a lot of thought to whether I should add to one of my many positions or look for a tidbit, I decided to welcome SAP to my portfolio - one of the few companies in Germany that still has sufficient potential, but is moving sideways this year.

In addition, I will probably be getting rid of some positions soon and cleaning up my portfolio a little by the end of the year - at least that's my plan... The following are the main ones that catch my eye

$PUM (+0.16%)

$LXS (-0.05%)

$PAH3 (-0.06%)

$SIX2 (-1%)

Once bought with the idea of dividends and a possible turnaround in mind, I doubt that the situation with these companies will change abruptly and now regard them more as yield killers.

SAP comes in handy as an addition in order to still be able to invest alongside $ALV (-0.13%) and $DHL (-0.18%) another German company in the portfolio.

Puma is currently making considerable gains, apparently due to the takeover of a major shareholder. $PUM (+0.16%)

Currently down 3%, is anyone else invested? 💰

$PUM (+0.16%) has just brought out the club and is investing over a billion euros in ManCity as a supplier until 2035.

In the current situation of $PUM (+0.16%) I don't know if that's not a little over the mark $PUM (+0.16%) in terms of volume.

I hope they know what they're doing......

I recently considered investing small in Puma. I think I'll put that on hold for now and wait and see.

https://www.sport.de/news/ne10499321/milliarden-deal-manchester-city-unterzeichnet-rekordvertrag/

Hello dear community,

I recently came into €20,000, which I would now like to invest. My goal is to build up a BTC holding of 0.25 by the end of 2026. Now the question is whether I should invest the €20,000 directly and $BTC (-0.17%) or whether I should let the target run via the normal savings plans and use the €20,000 for another investment such as $IWDA (-0.12%) use.

A few more details:

• Age: 27
• Monthly savings plans: 3000€
• Investment horizon: Until 2050, then early retirement
• The portfolio will contain $PUM (+0.16%) and $DX2D (-0.07%) still sold
• I am aware that there are overlaps, but this has to do with the fact that I have divided my portfolio into retirement provision and house purchase. In the respective sub-custody accounts, one is the $VWRL (-0.15%) and once the $IWDA (-0.12%) in it.

Thank you very much in advance!

The last press went pretty well for $PUM (+0.16%) pretty well and I'm hoping for a comeback. I've been invested here for a while, but not much has happened with the stock so far📄

What do you think?

$PUM (+0.16%)

I've been watching Puma for a long time - not because of short-term trends, but because of the substance behind the brand. Now, after the 50% drop in the share price since the beginning of the year (as of April 2025, price ~€22), things are getting interesting.

Because: Puma is currently valued favorably - the P/E ratio 2025e is around 13, while competitors such as Nike or Adidas sometimes have P/E ratios above 25. The price/sales ratio is only ~0.6, which in my view is an understatement of the potential for a global brand with billions in sales.

Important figures:

Turnover 2024: € 8.6 billion

Adjusted EBIT: € 622 million

EBIT margin 2024: 7.2%

Target margin by 2027: 8.5% (through the "nextlevel" efficiency program)

Net debt: manageable at ~€ 640 million, solid in relation to the balance sheet

Market capitalization: ~€ 3.2 billion

The company is currently focusing on efficiency and profitable markets. These include, among others:

Withdrawal from weaker markets (e.g. US mass market)

Expansion of the direct-to-consumer business

Focus on retro models such as "Speedcat" - with high margins and brand loyalty

Regional focus on Latin America and EMEA, where growth has recently been strongest

Why I am considering an investment:

1. turnaround character: operationally, things are not going badly - only the outlook for 2025 is cautious. But this is precisely where the opportunity lies: the poor sentiment is already priced in.

2. valuation: Historically low multiples for a sports brand with global reach.

3. brand & management: Despite challenges, Puma has a clear strategy and has been known in the past for making strong counter-cyclical returns.

Risks? Of course. The USA and China are weakening, and fashion is not a sure-fire success. But for long-term investors with patience and a sense for undervalued quality, Puma could be exciting right now.

I'm not invested yet - but I'm doing the math.

Subscribe to the podcast so that the bottom is reached soon.

00:00:00 Market environment

00:21:40 Nike, Adidas, Puma, On Holdings, Lululemon, Under Armor

00:35:50 Finding the bottom: Vix, Oil Price, Baltic Dry Index, Gold, Bonds / Bonds, CME FED Watchtool, St. Louis FRED Overnight Reverse Repurchase Agreements, COT

01:18:30 Chevron, Exxon, Occidental Petroleum, BP, Shell

Oil & Gas Exploration & Production A1JKQL

WisdomTree WTI Crude Oil A0KRKU

iShares MSCI World Energy Sector A2PHCF

01:29:35 China shares

01:44:25 Container ship shares

Spotify

https://open.spotify.com/episode/28RlbWBRC6xGUJ8AkHVcFU?si=w1t0GJtDTWOwNuUADqWoPQ

YouTube

https://youtu.be/QvUuYYmxk2k

Apple Podcast

https://podcasts.apple.com/de/podcast/84-china-aktien-%C3%B6l-aktien-sportartikel-aktien-containerschiff/id1695869891?i=1000703088147

$ZIM (+2.02%)
$MAERSK A (+0.08%)
$SHEL (-0.82%)
$XOM (-0.65%)
$CVX (-0.19%)
$BP. (-0.43%)
$OXY (-0.5%)
$ADS (-0.67%)
$NKE (-0.21%)
$PUM (+0.16%)
$UAA (+0.06%)
$LULU (-0.24%)
$WTI
$1BRN
$SPOT (+0.03%)
$AAPL (-0.23%)
$GOOG (+0%)
$GOOGL (-0.15%)
$BABA (-1.95%)
$700 (-2.67%)
$BYD (+0%)
#china
#zoll
#podcast

With a KUV of not even 0.4, this is a real bargain that will also pay out dividends in the near future...

Tariffs hamper Big Tech in the US + Apple has to raise prices + E-prescription drives growth of online pharmacy Redcare + Puma replaces boss after disappointing results + Canada imposes counter tariffs on some vehicles from the US

Tariffs hamper big tech in the USA

$AMZN (-0.14%) / $NVDA (-0.18%) / $MSFT (-0.09%)

• The high import tariffs announced by US President Trump on technology equipment from Asia, including 34% on China, 32% on Taiwan and 25% on South Korea, could hinder Big Tech's multi-billion dollar AI infrastructure projects in the US, according to analysts.
• Project Stargate, a $500 billion data center project by OpenAI, SoftBank and Oracle, as well as AI investments by Microsoft, Alphabet and Amazon could be delayed or curtailed as a result.

Apple $AAPL (-0.23%)must raise prices

• Apple faces the choice of absorbing the additional costs or raising iPhone prices by up to 43% due to new US import tariffs of 54% on Chinese goods, according to Rosenblatt Securities.
• Even if Apple were to relocate production to Vietnam or India, it would have to raise prices by at least 30% due to tariffs of 46% and 26% respectively, according to Counterpoint Research.
• Goldman Sachs warns that far-reaching US tariffs will weigh on global growth and force the Federal Reserve to cut interest rates more aggressively than previously expected.
• Ashish Shah, Chief Investment Officer at Goldman Sachs Asset Management, describes this as a growth shock and a burden for US consumers.

E-prescription drives growth of online pharmacy Redcare $RDC (+0.03%)

• The online pharmacy Redcare Pharmacy grew strongly in the first quarter.
• The company continued to benefit from a strong increase in business with electronic prescriptions, particularly in Germany.
• According to a statement on Friday, the company increased its revenue by 28 percent year-on-year to 717 million euros, which was slightly above market estimates.
• In Germany alone, sales of e-prescriptions almost tripled to 108 million euros.
• This key figure is a particular focus for investors and analysts.
• At company level, it reportedly increased by almost 50 percent to 233 million euros.
• However, Redcare continues to generate the lion's share of its business with the sale of non-prescription products.
• Revenues here rose by almost a fifth to 484 million euros.
• The online pharmacy did not disclose earnings figures, but the earnings before interest, taxes, depreciation and amortization (EBITDA) margin "should be positive again," explained CFO Jasper Eenhorst.
• Redcare is "clearly on course" to achieve its annual targets.
• The company plans to publish its full quarterly report on May 6.

Puma $PUM (+0.16%)replaces CEO after disappointing results

• Following a recent disappointing performance, the sporting goods manufacturer Puma is making a change of boss.
• Arne Freundt is stepping down as CEO on April 11 "due to differing views on the implementation of the strategy", the company announced in Herzogenaurach on Thursday.
• The Supervisory Board has appointed Arthur Hoeld as the new Puma CEO from July 1, it said. He was responsible for global sales as a member of the Adidas Executive Board until October 2024.
• Matthias Bäumer, previously Vice President for the Teamsport segment, will also take over the position of Chief Sales Officer from April 1.
• Puma is currently experiencing a huge crunch: after a decline in profits last year, the Adidas competitor is also expecting falling results for 2025.
• Trade tensions, cautious consumers and strong fluctuations in exchange rates are weighing on the Swiss franc, which is massively lagging behind its local rival.

Canada imposes counter-tariffs on some vehicles from the USA

• Canada is responding to US President Donald Trump in the trade war and imposing counter-tariffs on certain vehicle imports from the United States.
• Ottawa will impose 25 percent import duties on all cars not produced under the North American trade pact USMCA, announced Canadian Prime Minister Mark Carney.
• The measures should cause maximum damage to the US economy, but spare the Canadian economy as much as possible.
• Carney emphasized that the United States was no longer a friendly partner for Canada and that the country would defend its interests and sovereignty.
• According to Carney, he had also spoken to the acting Federal Chancellor Olaf Scholz on the phone that morning.
• They discussed strengthening the "diverse trade relations" between the two countries.
• "In light of the crisis caused by President Trump's tariffs, reliable trading partners are more important than ever," Carney wrote on the X platform.
• Trump launched a trade war against neighboring Canada and Mexico shortly after taking office, but has withdrawn some tariffs several times.
• Although Canada was not mentioned in the latest announcements by the US government, tariffs already imposed on the country still apply.
• The Canadian automotive industry is particularly affected.

Friday: Stock market dates, economic data, quarterly figures

Stock market holiday in China and Hong Kong

• ex-dividend of individual stocks
• Aurubis EUR 1.50
• JPMorgan Chase 1.40 USD
• American Express USD 0.82
• Bristol-Myers Squibb USD 0.62

• Quarterly figures / company dates Europe
• 07:00 Sodexo half-year figures
• 11:00 Bawag Group AGM
• No time specified: Banco Santander AGM

• Economic data

08:00 DE: New orders February seasonally adjusted FORECAST: +3.5% yoy previous: -7.0% yoy

08:00 DE: Manufacturing Turnover February | Services Turnover January

08:45 FR: Industrial Production February FORECAST: +0.2% yoy previous: -0.6% yoy

10:00 EUECB Vice-President Luis de Guindos, speaks at Academia Europea Leadership Event

14:30 US: Labor Market Data March Employment ex Agriculture PROGNOSE: +140,000 yoy previous: +151,000 yoy Unemployment rate PROGNOSE: 4.1% previous: 4.1% Average hourly earnings PROGNOSE: +0.3% yoy/+3.9% yoy previous: +0.3% yoy/+4.0% yoy

17:25 US: Fed Chairman Powell, economic outlook speech

No time specified: UK: Governor of the Bank of England, meeting of the Financial Policy Committee