$KER (+1,01 %)

Hi folks,

I would like to hear your opinion on $KER (+1,01 %) . If they manage to build on their old successes, there is still a lot of room for improvement, what do you think?

$MC (+0,4 %) is not an alternative for me Frage🙆🏻‍♂️

As every Sunday, the most important news from the past week, as well as the most important dates for the coming week.

Also as a video:

https://youtube.com/shorts/qwz6dsaeNi4?si=uQ4zQHw4NJjDUFFf

Monday:

$MCD (+0,5 %) McDonalds delivers surprisingly poor figures. In the USA, sales fell by 1.4 % in the 4th quarter; experts had only forecast a fall of 0.4 %. Adjusted profit also fell by 5 % to USD 2.04 billion. However, McDonalds grew worldwide and surprised analysts positively.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/fastfood-mcdonalds-mit-ueberraschend-hohen-einbussen-im-us-geschaeft/100106947.html

Tuesday:

Turnover at the French luxury goods conglomerate $KER (+1,01 %) Kering declines significantly. The main reason for this is weak figures at the Italian subsidiary Gucci. Overall, turnover fell by 12% to 17.2 billion euros in 2024. The slump in consumption in China in particular is weighing on earnings. However, Pinault is seeing the first signs of recovery from China.

https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-im-newsblog-tui-erwirtschaftet-hoeheren-gewinn-jahresziele-unveraendert-/24098412.html

Wednesday:

$TMV (+1,21 %) TeamViewer shines with strong figures and is optimistic. Double-digit growth is planned again from 2027. The Göppingen-based company aims to generate sales of one billion euros as early as 2028. On balance, Teamviewer generated a profit of 123.1 million euros in 2024.

https://www.t-online.de/finanzen/boerse/ticker/teamviewer-will-mittelfristig-zurueck-zu-zweistelligem-wachstum/0DB4980021007F08/

US inflation data is somewhat hotter than expected, causing the markets to slump. Experts were expecting an inflation rate of 2.9% for January, which turned out to be 3.0%.

https://www.handelsblatt.com/finanzen/geldpolitik/verbraucherpreise-us-inflation-steigt-im-januar-ueberraschend-auf-drei-prozent/100106814.html

$CSCO (-0,55 %) Cisco raises its forecast and exceeds sales expectations. The reason for this is the high demand from companies for AI infrastructure. This is one of the reasons why Cisco is also increasing its dividend.

https://www.ariva.de/amp/ki-boom-hilft-netzwerkausruester-cisco-11534732

Thursday:

The world's largest and probably most controversial food company is growing again. $NESN (+4,08 %) Nestlé is planning a dividend increase. Sales increased by 2.2 % excluding exchange rate effects. Profit fell by 2.9 % to 10.9 billion Swiss francs.

https://www.nzz.ch/wirtschaft/nestle-waechst-wieder-aus-eigener-kraft-ld.1870435

Friday:

The US economy 🇺🇸 suffered a double setback in January. Retail sales and industrial production were down. Retail sales fell by the most in two years. This was due to the low temperatures and customs duties. Industrial production fell, as economists had expected. The production of motor vehicles in particular was responsible for the decline.

https://de.tradingview.com/news/invezz:f6400bd08600c:0/

These are the most important dates for the coming week:

Monday: 00:50 GDP figures (Japan)

Wednesday: 20:00 FOMC minutes (USA)

Thursday: 08:00 Producer prices (DE)

Can you think of any other dates? Write it in the comments 👇

#bip
#japan
#fomc
#erzeugerpreise

Hey everyone,

Today I have summarized another interesting investor talk for you, which offers deep insights into the strategies and challenges of a large fashion group. It's about Kering $KER (+1,01 %)

Overview of the financial year

The company admitted that 2024 did not meet expectationsbut emphasized that it is working on a long-term transformation and no short-term compromises compromises. The strategy of developing brands through targeted individualization and strengthening their identity identity remains unchanged. An important point is the planned development of a more upmarket clientelewithout neglecting the existing
neglecting the existing clientele.

Strategic focus of the company

• A considerable focus on improving the quality of of the products, particularly in the reissue of iconic designs.
• The communication was reactivated in order to attract customers to the storesand investments were made in new window display concepts to emphasize the brand values. emphasize the brand values.
• The focus is on own retail storeswhile the number of outlets has been reduced and the wholesale drastically is being cut.
• Efforts are made to increase efficiency in the areas of production, logistics, technology and administration.
• The company expands through Kering Eyewear and Kering Beauté into adjacent segments in order to additional growth opportunities to exploit additional growth opportunities.

In the Q&A session of the investor meeting, various analysts expressed their concerns and asked questions about the company's strategic decisions and financial development. Edouard Aubun from Morgan Stanley began the discussion with questions about centralized management of the brands and whether this strategy will be maintained. He also asked whether the new aesthetics Gucci's new aesthetic is perceived as "boring" because it differs from a maximalist style style. The management emphasized that the centralization serves to better support the better support the brands and and create synergies. The new Gucci aesthetic is described as elegantbut not boring, and is intended to build on a stronger base be built upon.

Antoine Belge from BNP Paribas Exane inquired about the handbag launches by Gucci and the need for designer experience in this area. He also wanted an assessment of the operating profit and the sales by nationality nationalities. The management stated that the handbag launches were successful and that an experienced team is important. For 2025, a stabilization of the EBIT is expected to stabilize, although the first half of the year should be weaker.

Erwin Ramborg from HSBC discussed the situation of the Chinese clientele and whether the problems are cyclical or structural in nature. He also asked about the priorities of the new management at Saint Laurent and Balenciaga and about possible preliminary measures against US tariffs. The company sees the problems in China as cyclical and and expects a recovery in the future. The new managers are to strengthen the strengthen the brands evolutionarily and production in the USA to circumvent possible customs duties is is not being considered.

Susanna Puth from UBS asked about the drivers for Gucci's sales growth, particularly in light of the planned reduction in retail space and wholesale. The company confirmed that sales declines are expected due to closures and wholesale reductions, but anticipates mid to high single-digit growth in retail stores.

Ashley Wallace of Bank of America Merrill Lynch asked about the new leather products at Gucci, the impact of the arrival of the new creative director and the drivers of profit performance in the second half of the year. The new lines were pursuing different strategies and the arrival of the new director is not expected to change the strategy dramatically. The profit improvement is expected to be supported by higher growth in the second half of the year and by the effects of earlier cost-cutting measures.

To summarize, analysts asked a number of questions about the company's strategic realignment, financial outlook and challenges in various markets. Management emphasized its long-term vision, its focus on quality and efficiency and its targeted approach to all customer segments.

Clearly too much woulda, woulda, coulda for me. Unfortunately, none of this sounds to me like a concrete strategy to turn the company around.

Thanks for reading and stay tuned!

I was able to leave the champagne in the fridge yesterday after LVMH $MC (+0,4 %) fell short of expectations in terms of profit and net income, losing up to -5% at times. The share recovered slightly later in trading. Things don't look so rosy today either. In the long term, however, I am not worried, even if the jump above €800 may take a little longer.

Let's start with the facts:

I have taken the time and trouble to read through the annual reports and listen to the earnings call:

Summary and classification from the published annual reports of LVMH "Presentation
2024
Annual Results" [1] and "Financial Domcuments" [2]. Page references in the source reference refer to the reports mentioned separately in [Source 1 & 2].

First of all, a brief overview of how the % figures in the annual report are to be understood, as this is important in my opinion.

📈 Percentage figures: "Published" vs. "Organic"

Two types of growth figures are given in the LVMH reports:

1 . Published development (Published)

• This figure shows the change in sales compared to the previous year in euros.
• It takes into account exchange rate fluctuations (e.g. a weak US dollar or yen) and changes in the scope of consolidation (e.g. due to acquisitions or sales of parts of the company).
• Example: A fall in the US dollar against the euro means that sales from the USA are worth less in euros, even if they have remained stable in the region. *(For a detailed explanation, please refer to the "Appendices" at the end of the post).

2 . Organic development (Organic)

• This figure shows the "real" growth of the core business.
• Exchange rate effects and changes in the company portfolio are deducted.
• It better reflects the extent to which the company has actually grown or declined in its markets.

Why the difference is important:

Published change gives a complete picture of external factors. Organic change, on the other hand, shows operational performance and is a better indicator of a company's long-term stability.

📊 Business figures 2024: overview

• Sales: EUR 84.7 billion (-2% published, +1% organic, exceeded expectations of EUR 84.3 billion) [2, p. 2; 3]

• Operating profit: EUR 19.6 billion (-14% published, -9% organic, below expectations of EUR 20.3 billion) [1, p. 23; 2, p. 7; 3]

• Net result: EUR 12.6 billion (-17% published, below expectations of EUR 13.7 billion) [1, p. 22] (More on increased marketing & administration costs later in the text)

• Operating margin: 23.1% (decline of 3.4 percentage points, but still strong compared to the industry) [2, p. 7]

Regional performance: [1, p. 17-18]

• Japan: The strongest market with +28% organic sales growth, supported by a weak local currency and robust local demand.
• Europe and USA: Stable development of +2% and +3% organic sales growth respectively, despite uncertain consumer sentiment.
• Asia (excluding Japan): Decline of -10% organic, mainly due to weaker demand in China.

Main factors for profit decline explained: (Transcript Earnings Call, CFO: Jean-Jacques Guiony)

LVMH reports a 17% drop in profits to 12.5 billion euros compared to the record previous year. This is mainly due to several factors:

1 . Increase in costs:

• Operating costs increased by 2 %, which was higher than organic sales growth and led to a reduced operating margin.

2 . Currency and price fluctuations:

• Currency movements, mainly due to the US dollar and the absence of price increases contributed to the decline in gross margin, which fell by 180 basis points (-1.80%)

3 . losses in certain areas:

• Wine & Spirits: a decline of -36% due to lower volumes, prices and mix ratios, although costs were reduced.
• Duty Free Shoppers (DFS): Heavy losses, mainly due to weak Chinese tourism in Hong Kong and Macau.
• Non-recurring charges: Losses due to restructuring in Duty Free Shops (DFS), the withdrawal from brands such as Stella McCartney and Off-White, as well as expenses for irregular events, e.g. the Olympic Games and employee share plans.

4 . Higher expenses:

• Administrative expenses increased by 9% and investment in new stores and marketing costs were maintained or increased slightly (+1%), further impacting profit.
• Labor costs increased, but could not be offset by price increases (or should not be offset by price increases, according to the call).
• In addition, costs increased due to store openings already planned in 2021-2023, which increased the cost base.

Additional management decision:

• LVMH faced a difficult decision: to cut costs more drastically, but this would have sent the message that a "crisis" is structural in nature, i.e. longer-term and profound. This would have meant the company adopting a very cautious approach to spending and investment in order to prepare for a prolonged crisis.

• Instead, the management emphasizes that the "crisis" is only temporary and that it is important to remain flexible in order to adapt to changing circumstances. They did not want to take too drastic measures that could damage the company in the long term, especially in areas such as marketing and budget planning. These should not be cut too severely in order not to jeopardize future growth potential and competitiveness.

• Despite the decline in profits, LVMH was able to increase its cash flow by 3.4 billion euros, which led to a reduction in debt.

• In addition, a stable dividend of 13 euros per share was proposed in order to offer shareholders a constant return in difficult times.

Summarized so far: LVMH's profit decline resulted from an imbalance between cost increases and sales growth, as well as specific challenges in some business units.

👜 Products & segments: Highlights 2024

1 . Fashion & leather goods

• Sales reached EUR 41.1 billion (-3% published, -1% organic). Louis Vuitton shone with innovative collections, including Pharrell Williams' "The World is Yours" designs. Christian Dior combined tradition and modernity with its spring/summer 2025 collections, inspired by Amazons and Scottish history. A collaboration with artist Takashi Murakami and the opening of a flagship store on the Champs-Élysées are planned for 2025. (2, S. 11-12)
• Further store expansions in addition to the new flagship store on the Champs-Élysées are planned to further strengthen the global presence in Tokyo and Milan.

2 . Perfumes & Cosmetics

• In the Perfumes & Cosmetics segment, sales rose to EUR 8.4 billion (+2% published, +4% organic). Dior Sauvage continued to assert itself as the world's leading men's fragrance, supported by the launch of "Sauvage Eau Forte". Guerlain expanded its successful "Aqua Allegoria" range and focused on sustainable production, including regenerative agriculture for the flowers used in the fragrances. (2, S. 13-14)

3 . Wines & Spirits

• Sales in the Wines & Spirits segment fell to EUR 5.9 billion (-11% published, -8% organic), as weaker demand in China and the USA weighed on the business. Nevertheless, Moët Hennessy impressed with new products such as Dom Pérignon Vintage 2015 and other prestige cuvées. For 2025, LVMH plans to further expand the customer experience, including through innovative marketing initiatives such as the collaboration with Formula 1. (2, p. 10)

4 . Watches & Jewelry

• In the Watches & Jewelry division, LVMH generated sales of EUR 10.6 billion (-3% published, -2% organic). Tiffany & Co. opened its renovated "Landmark" flagship store in New York, while Bulgari set new standards with its "Aeterna" collection and the world's thinnest watch design. (S. 14-15)

5 . Selective Retailing (Sephora & DFS)

• In the Selective Retailing division, sales rose to EUR 18.3 billion (+2 % published, +6 % organic). Sephora recorded double-digit growth in North America and Europe and relied on innovative technologies such as AI tools to improve the customer experience. (2, S. 15-16)

🌎 Sustainability in case anyone is itching:

• Reduction of CO₂ emissions by 55% compared to 2019 (target for 2026 already exceeded).
• Biodiversity projects will be expanded to five million hectares by 2030 (2024: 3.8 million hectares)
• Focus on circular design: by the end of 2024, 31% of materials were already sourced from recycled sources (2, S. 4)

💰 Financial strength and key figures

Cash and debt

• Cash position: EUR 9.6 billion (+24% compared to 2023).
• Free cash flow: EUR 10.5 billion (+29% compared to 2023)
• Net financial debt: decrease to EUR 9.2 billion (-14% compared to 2023), resulting in a debt ratio of 13.3
• Available credit lines: EUR 10.8 billion, sufficient to cover current liabilities

Inventories

• The total value of inventories rose to EUR 23.7 billion, an increase of 3.1 %. This is primarily due to strategic stockpiling in the fashion and perfume sectors.

📈 Classification in the stock market environment

LVMH shares have been under pressure in recent months, despite strong fundamentals:

• Macroeconomic uncertainties: Interest rate hikes and a weaker buying mood for luxury goods are weighing on the sector.
• Declining figures in Asia: Weak sales in China are dampening market sentiment.
• Competitive pressure: Competitors such as Hermès $RMS (+0,11 %) are reporting stronger growth, which is increasing the pressure on LVMH.

LVMH has reported a 17% drop in profits, not a good sign at first glance. But when you look at the details, it becomes clear:

The problems are largely temporary.

• Macro factors: Currency movements (strong USD), higher costs and weaker demand in some segments, notably Wine & Spirits (-36%) and DFS (Travel Retail).
• No structural problem: Management has deliberately cut non-aggressive costs in order not to jeopardize long-term growth potential (e.g. marketing & expansion).
• Operating margin under pressure: Costs increased by 2%, while sales declined slightly (Published, organic +1 %)which led to a decline in the margin.

⚡ Why I remain optimistic in the long term:

• Strong brands & pricing power: LVMH owns premium brands with high pricing power, once demand recovers, the company can expand margins again.
• China recovery as a catalyst: Weak Chinese tourism is weighing on business, but consumer behavior should normalize in the medium term.
• Global demand shift: Luxury is not dependent on "one" country; if one region weakens (e.g. due to US tariffs on European luxury goods), LVMH can expand sales in other markets (e.g. in the Middle East, South East Asia or Europe). In addition, different production locations and logistics strategies can be used to circumvent trade barriers.
• Solid financial position: Despite the decline in profits, cash flow remains strong (€10.5 billion), debt has been reduced and the dividend remains stable at €13.

📉 It may remain bumpy in the short term, but LVMH is a quality company with a strong capacity for innovation, which will remain in demand even in difficult times. I am looking forward to the future plans of the industry leader, which remains on course for success with a strongly growing brand presence. For long-term investors, the "price slide" could therefore be more of an opportunity than a risk. (Of course, my personal opinion does not constitute investment advice or a recommendation to buy or sell. 🙂)

Finally, Bernard Arnault was also optimistic about the future:

"LVMH will continue to focus on creativity, excellence and agility to extend its leadership in the luxury market. Despite global uncertainties, the Group sees further potential for sustainable growth and long-term success."

🎉 Thanks for reading! From here on there are attachments, examples & original slides

_______________

*Exchange rate fluctuations explained (example)

When a company like LVMH sells products in the USA, sales are generated in US dollars (USD). However, since LVMH publishes its financial report in euros (EUR), these sales must be converted into euros.

What happens if the US dollar depreciates against the euro?

1 . Before the devaluation: 1 USD = 0.95 EUR

• A turnover of USD 100 million would correspond to EUR 95 million.

2 . After the devaluation: 1 USD = 0.90 EUR

• The same turnover of USD 100 million now corresponds to EUR 90 million.

➡️ Although LVMH sold exactly the same amount in the USA, sales in euros appear lower.

At the beginning of 2024: 1 USD = 0.9060 EUR.

Low on August 23: 1 USD = 0.8927 EUR.

Increase until December 31: 1 USD = 0.9662 EUR.

_______________

Sources:

[1] LVMH: "Presentation" to " 2024 Annual Results"

https://lvmh-com.cdn.prismic.io/lvmh-com/Z5j825bqstJ998qD_LVMH-2024FullYearresults.pdf

[2] LVMH: "Financial Domcuments"

https://lvmh-com.cdn.prismic.io/lvmh-com/Z5kVBpbqstJ999KR_Financialdocuments-December31%2C2024.pdf

[3] Expected results 2024

https://stock3.com/news/lvmh-aktie-nach-zahlen-deutlich-unter-druck-2-16085679

If you've made it this far, you can still see the original slides from the presentation of my favorite products, or rather those of my wife 😵‍💫.

$CFR (+0,31 %)
$BRBY (-4,28 %)
$KER (+1,01 %)

Tonight presents LVMH
$MC (+0,4 %) presents its results for the 2024 financial year and Q4.

• Financial release after the close of the Paris stock exchange
• 18.00 Earnings Call via live webcast

https://www.lvmh.com/en/financial-calendar/2024-full-year-results

Analysts expect sales for the fourth quarter of 23.2 billion euros and earnings per share (EPS) of 17.44 euros [1].

For the full year 2024, turnover of 84.2 billion euros and EBITDA of 25.97 billion euros is forecast [2].

Morgan Stanley raised its rating for LVMH to "overweight" yesterday and set the target price at 820 euros (+14%). As a result, the share price rose by 3% and is moving back towards the 800 euro mark [1].

Market development:

The luxury sector recently experienced an upswing after Richemont $CFR (+0,31 %) the parent company of Cartier, presented impressive figures.

In the third quarter, which ended in December 2024, turnover rose by 10% to 6.15 billion euroswhich exceeded analysts' expectations [3].

The positive results also boosted other luxury brands such as LVMH, Kering $KER (+1,01 %) and Hermes $RMS (+0,11 %) [4].

The US market is expected to be a key driver of LVMH's growth, especially given the continued weakness of the Chinese market [5].

USA: A sustained recovery in demand is boosting sales.

China: The recovery is slower than expected, but competitors such as Burberry $BRBY (-4,28 %) are reporting stabilized sales.

Fashion & Leather Goods: Louis Vuitton and brands such as Loewe and Rimowa continue to perform strongly.

Risks in brief:

Morgan Stanley warns of potential burdens from tariffs on luxury goods or consumer restraint, particularly in China.

Should growth at Louis Vuitton stagnate, this could have a negative impact on the entire Group.

Portfolio:

LVMH is the second-largest single position in my portfolio after getquin Deepdive with just under 5%, consisting of direct and indirect investments, behind Bitcoin $BTC (+0,48 %) .

I am therefore looking forward to the results tonight and am betting on a strong Q4.

The battle for Europe's most valuable company continues... can LVMH still surprise and make the leap over the €800 mark or are expectations already priced in?

___________________

Sources:

[1]

http://de.investing.com/equities/l.v.m.h.?

[2]

https://de.marketscreener.com/kurs/aktie/LVMH-4669/termine/

[3]

https://www.richemont.com/investors/results-reports-presentations/

[4]

https://www.investopedia.com/european-luxury-stocks-jump-on-richemont-record-quarterly-sales-8775521

[5]

https://www.reuters.com/business/retail-consumer/luxury-groups-pin-hopes-us-china-weakness-persists-2025-01-15/

As every Sunday, the most important news from the past week. As well as the most important dates for the coming week.

Also as a video:

https://youtube.com/shorts/6kS3uOc3Gyo?si=ylP3Ik3aaxt4tQ6Q

Monday:

The Dutch pension fund ABP sold all of its $TSLA (-4,32 %) Tesla shares. However, the reason for the sale is not Elon Musk's political statements. It was his remuneration model and the working conditions at Tesla. According to Tesla, Musk is entitled to a 56 billion dollar share package that Musk has been fighting over with American courts.

https://www.handelsblatt.com/finanzen/anlagestrategie/fonds-etf/tesla-europas-groesster-pensionsfonds-verkauft-alle-tesla-aktien/100100218.html

Tuesday:

$ST5 (-2,12 %) Steico exceeded expectations in terms of turnover 376.3 million euros instead of 375 million euros. However, profits were slightly lower than expected. Steico manufactures sustainable insulation materials.

https://www.ecoreporter.de/artikel/steico-mehr-umsatz-weniger-gewinn-aktie-legt-zu/

Producer prices in the USA are less hot than expected. Year-on-year, producer prices rose by 3.3%. However, analysts had expected an increase of 3.5%. Producer prices are regarded as a leading indicator for inflation.

https://www.ariva.de/news/usa-erzeugerpreise-steigen-weniger-als-erwartet-11501258

Wednesday:

The German economy remains in a permanent slump. According to initial estimates, GDP shrank by 0.2% in 2024. This means that GDP has shrunk for two consecutive years (2023: 0.3%). This was last seen in 2002 and 2003 and resulted in Agenda 2010. It is striking that comparable political players were in government in 2002 and 2003, as well as in 2023 and 2024.

https://www.handelsblatt.com/politik/konjunktur/bip-daten-deutsche-wirtschaft-schrumpft-erneut-minus-von-02-prozent/100100833.html

New DAX record at 20,609 points. The reason for the rise is a decline in core inflation in the USA. This reduces the risk of a restrictive monetary policy by the Fed. Core inflation was expected to be 3.3 %, but was actually 3.2 %.

https://www.handelsblatt.com/finanzen/maerkte/marktberichte/dax-aktuell-dax-steigt-nach-us-inflationsdaten-auf-neuen-rekord/100100826.html

Thursday:

As the Swiss luxury group $CFR (+0,31 %) Richemont presents strong figures, the entire luxury goods sector takes off. Even $KER (+1,01 %) Kering and $MC (+0,4 %) LVMH were also able to make significant gains. The Christmas quarter went much better than expected.

https://www.deraktionaer.de/artikel/commerce-brands-unicorns/richemont-mit-knaller-zahlen-lvmh-kering-und-co-starten-durch-20373118.html

Also $ZAL (-1,25 %) Zalando reported a strong final quarter and exceeded its profit targets in Q4. EBIT is likely to rise to 510 million euros, whereas a maximum of 480 million euros was originally forecast.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/online-modehaendler-zalando-uebertrifft-mit-schlussspurt-gewinnziel-fuer-2024/100101118.html

In his first days as President of the European manufacturers' association ACEA, Ola Källenius is campaigning against the CO2 sanctions imposed on car manufacturers. His argument is that we need a market-driven path to decarbonization and not one driven by EU sanctions.

https://www.handelsblatt.com/unternehmen/industrie/autoverband-acea-ola-kaellenius-wehrt-sich-zu-beginn-seiner-amtszeit-sich-gegen-co2-strafe/100101161.html

Friday:

Trump is likely planning to make cryptocurrencies a national priority and wants to give crypto insiders a voice in the government to do so.

https://www.instagram.com/p/DE6ZsF6R-5v/?igsh=bjgyMGVhemZjMWZx

Industrial production in the US rises by a surprising 0.6% in December. Experts had only expected an increase of 0.2%. Mining and the production of utilities also increased.

https://www.n-tv.de/ticker/Industrieproduktion-in-den-USA-steigt-im-Dezember-ueberraschend-um-0-9-Prozent-article25496778.html

These are the most important dates for the coming week:

Monday: 08:00 Producer prices (DE)

Tuesday: 14:30 Inflation data (Canada)

Thursday: 14:30 Unemployment figures (USA)

Can you think of any other dates? Write it in the comments 👇

#termine
#inflation
#kanada
#erzeugerpreise

$MC (+0,4 %) - Failed takeovers of LVMH

and activities of the children of Bernard

Arnault

Did you know the following:

In the late 90s, LVMH tried to take over Gucci, but CEO Domenico De Sole resisted.

He diluted the share price and gave employees a stake, weakening LVMH's control. Then Kering stepped in and secured Gucci.

He also tried Hermes:

In 2010, LVMH secretly acquired 17 percent of Hermès ($RMS (+0,11 %) ), triggering a storm of indignation. Hermès fought back with legal disputes and accused LVMH of insider trading and share manipulation.

After years of conflict, LVMH agreed to sell its 23% stake in 2014, ending the intense rivalry.

Who will be the next takeover candidate?

Thanks to all the successful takeovers, LVMH now has an extensive portfolio of 75 brands, which can be seen in the picture.

LVMH is the largest luxury company in the world.

The Arnault family:

Bernard will probably keep the company in the family. As he has five children who are already integrated into the company, these are the potential successors:

1. Delphine

2. Antoine

3. Alexandre

4. Frederic

5. Jean

Delphine (49) is Executive VP of Louis Vuitton.

Delphine has been with LVMH since 2001 and is in charge of brand development and strategy. She plays an important role in the success of LV.

Antoine (47) is CEO of Berluti and Chairman of Loro Piana.

Antoine focuses on expanding LVMH's presence in luxury fashion and plays a role in brand communication and acquisitions.

Alexandre Arnault (32) is CEO of Tiffany & Co.

Alexandre revitalized Tiffany by targeting younger audiences and improving its digital presence. As a result, profits doubled within a year.

Frédéric Arnault (29) is CEO of LVMH Watches. After being CEO of Tag Heuer.

Jean Arnault (26) is Director of Product & Communications at Louis Vuitton Watches.

Finally, a few examples of LVMH's pricing power and price trends:

$MC (+0,4 %)
$KER (+1,01 %)
$RMS (+0,11 %)
$MONC (+1,66 %)
$BRBY (-4,28 %)
$BOSS (+0,31 %)

Analyst updates, 21.11.

⬆️⬆️⬆️

- BERNSTEIN RAISES TARGET FOR NVIDIA TO USD 175 (155) - 'OUTPERFORM' $NVDA (-3,63 %)

- JPMORGAN RAISES TARGET FOR NVIDIA TO 170 (155) USD - 'OVERWEIGHT' $NVDA (-3,63 %)

- EVERCORE ISI RAISES TARGET FOR NVIDIA TO 190 (189) USD - 'OUTPERFORM' $NVDA (-3,63 %)

- JEFFERIES RAISES TARGET FOR SIXT STEMS TO EUR 110 (100) - 'BUY' $SIX2 (-0,48 %)

- DEUTSCHE BANK RESEARCH RAISES RHEINMETALL TO 'BUY' (HOLD) - TARGET 700 (550) EUR $RHM (-1,89 %)

- BARCLAYS RAISES TARGET FOR FRESENIUS SE TO EUR 40 (38) - 'OVERWEIGHT' $FRE (+0,18 %)

- WARBURG RESEARCH raises the target price for ALSTRIA OFFICE from EUR 3.40 to EUR 7.10. Hold. $AOX (+0,18 %)

- BERNSTEIN raises the price target for ESSILORLUXOTTICA from EUR 194 to EUR 200. Market-Perform. $EL (-1,14 %)

⬇️⬇️⬇️

- DEUTSCHE BANK RESEARCH lowers the price target for NESTLE from CHF 87 to CHF 85. Hold. $NESN (+4,08 %)

- DEUTSCHE BANK RESEARCH lowers the price target for MEDIOS from EUR 23 to EUR 18. Buy. $ILM1 (-1,93 %)

- ODDO BHF lowers the price target for GRENKE from EUR 27.30 to EUR 18.30. Neutral. $GLJ (+0,35 %)

- BERNSTEIN lowers the price target for KERING from EUR 260 to EUR 220. Market Perform. $KER (+1,01 %)

- BERNSTEIN lowers the price target for LVMH from EUR 795 to EUR 700. Outperform. $MC (+0,4 %)

- BERNSTEIN lowers the price target for VESTAS from DKK 250 to DKK 215. Outperform. $VWS (-1,47 %)

- JEFFERIES lowers the price target for SMA SOLAR from EUR 19 to EUR 14. Hold. $S92 (-2,27 %)

- JEFFERIES lowers the price target for VERBIO from EUR 27 to EUR 22. Buy. $VBK (-2,71 %)

- JEFFERIES lowers the price target for PVA TEPLA from EUR 14.50 to EUR 12. Hold. $TPE (+0,71 %)

- HSBC downgrades TARGET to Hold. Target price USD 138. $TGT (-2,56 %)

- UBS lowers the price target for BAYER from EUR 30 to EUR 22. Neutral. $BAYN (+1,43 %)

Analyst updates, 18.11.

⬆️⬆️⬆️

- MORGAN STANLEY raises the price target for SIEMENS from EUR 212 to EUR 220. Overweight. $SIE (-0,45 %)

- HSBC raises the target price for RHEINMETALL from EUR 660 to EUR 700. Buy. $RHM (-1,89 %)

- HSBC raises the target price for DEUTSCHE TELEKOM from EUR 33.50 to EUR 34. Buy. $DTE (+0,67 %)

- DEUTSCHE BANK RESEARCH raises the price target for ALLIANZ SE from EUR 275 to EUR 310. Buy. $ALV (-0,14 %)

- DEUTSCHE BANK RESEARCH raises the price target for SIEMENS ENERGY from EUR 52 to EUR 57. Buy. $ENR (-4,27 %)

- UBS upgrades AIR PRODUCTS & CHEMICALS from Neutral to Buy and raises target price from USD 338 to USD 375. $APD (-1 %)

- ODDO BHF raises the price target for SWISS RE from CHF 127 to CHF 138. Outperform. $SREN (-0,09 %)

- BARCLAYS raises the price target for MUNICH RE from EUR 523 to EUR 551. Overweight. $MUV2 (-0,6 %)

- BARCLAYS raises the target price for HANNOVER RÜCK from EUR 206 to EUR 217. Underweight. $HNR1 (-0,02 %)

⬇️⬇️⬇️

- MORGAN STANLEY lowers the target price for BAYER from EUR 35 to EUR 30. Equal-Weight. $BAYN (+1,43 %)

- KEPLER CHEUVREUX lowers the target price for SIEMENS HEALTHINEERS from EUR 60.50 to EUR 59. Buy. $SHL (+0,45 %)

- KEPLER CHEUVREUX downgrades KNAUS TABBERT to Hold. Target price EUR 15. $KTA (-0,67 %)

- DEUTSCHE BANK RESEARCH lowers the price target for SGL CARBON from EUR 10.60 to EUR 9. Buy. $SGL (+0,73 %)

- DEUTSCHE BANK RESEARCH lowers the price target for PVA TEPLA from EUR 18 to EUR 14.50. Hold. $TPE (+0,71 %)

- DEUTSCHE BANK RESEARCH lowers the price target for KERING from EUR 340 to EUR 320. Buy. $KER (+1,01 %)

- ODDO BHF downgrades BECHTLE to Neutral. Target price 37 EUR. $BC8 (-0,42 %)

- BARCLAYS lowers the price target for UNITED INTERNET from EUR 27 to EUR 23. Equal-Weight. $UTDI (+0,66 %)

- BARCLAYS lowers the price target for 1&1 from EUR 19 to EUR 17. Equal-Weight. $1U1 (+1,37 %)

- BERENBERG lowers the target price for AIR LIQUIDE from EUR 195 to EUR 190. Buy. $AI (+4,21 %)

- HSBC downgrades PORSCHE SE from Hold to Reduce and lowers target price from EUR 36 to EUR 26. $PAH3 (+0,48 %)

Week in review 26.10.

New 52-week highs or all-time highs: Gold, Silver, Booz Allen Hamilton, Boyd Gaming, Carvana, Endeavour Silver, GE Vernova, Iron Mountain, L3Harris, Philip Morris, Reddit, SAP, Sea Ltd, Teledyne Netflix, Nvidia, Microstrategy, Palantir PayPal, SoFi, Wells Fargo, Welltower, Wyndham Hotels & Resorts

Palantir (+170%) points to 2024 Vistra (+231%) and Nvidia (+202%) the third-best performer in the S&P 500

Tesla +20% after good quarterly figures, best trading day in 11 years, cheaper new model coming in H1/2025, +9% since the beginning of the year

New Apple MacBooks with M4, Mac mini and iMac will be presented next Monday, Apple shares +26% since the beginning of the year

McDonald's E.coli - bacteria in burger meat, one dead and several injured, shares fall 8%, +1% since the beginning of the year

SAP with good quarterly figures, +61% since the beginning of the year

Deutsche Bank with good quarterly figures, +26% since the beginning of the year

Mercedes with poor quarterly figures due to weak business in China, -9% since the beginning of the year

Microsoft-shareholders want to vote on Bitcoin purchase for the balance sheet at the Annual General Meeting in December, Bitcoin +59% since the beginning of the year

Qualcomm and ARM are in a license dispute over the Nuvia takeover, ARM +112% since the beginning of the year, Qualcomm +23% since the beginning of the year

Lockheed Martin with good quarterly figures, +24% since the beginning of the year

L3Harris with good quarterly figures, +24% since the beginning of the year

RTX (Raytheon) with good quarterly figures, sales and profit forecasts raised, +48% since the beginning of the year

UPS with good quarterly figures, -9% since the beginning of the year

Texas Instruments with good quarterly figures, +25% since the beginning of the year

Coca Cola with good quarterly figures, +15% since the beginning of the year

IBM with strong profit growth but disappointed sales, +36% since the beginning of the year

Munich RE Profit warning due to major losses, +24% since the beginning of the year

Starbucks has suspended its forecast for the coming financial year as new CEO Brian Niccol seeks to restructure the company but increases dividend, +5% year-to-date

Kering with profit warning as Gucci weakens in China, -40% since the beginning of the year

Enphase Energy with poor figures, share falls -12%, -37% since the beginning of the year

Traffic light government decides exit tax on ETF assets from €500,000, savings and independent investing are penalized even more, prosperity and freedom are made more difficult and hindered

Loopholes in the rent control for furnished apartments remain

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