23.07.2024 +++ Quarterly season shifts up a gear +++ Goldman-Sachs warns of AI bubble +++ SAP surprises with results +++ Porsche AG lowers forecast +++
There are a lot of quarterly figures today, especially after the close. At Visa $V (-1,68 %)one can be curious. AMEX $AXP (+1,56 %)has already shown last week that the sector is doing well. The other major stocks are also giving us a good look today: Alphabet $GOOGL (+0,99 %), CocaCola $KO (-1,76 %), Tesla $TSLA (+6,49 %),Lockheed Martin $LMT (-0,72 %), and many more...
VW subsidiary Porsche AG$P911 (+0,6 %) lowers forecasts and now expects an operating return on sales of 14-15% (previously 15-17), sales of EUR 39 to 40 billion (previously 40 to 42), an EBITDA margin of between 23 and 24% (previously 24 to 26). Porsche actually wanted to sell 80% electric cars by 2030. Now, however, Porsche is also adjusting its publicly communicated targets to reality, or more precisely: to the purchasing behavior of customers. "The switch to electric cars is taking longer than we assumed five years ago".
Europe's largest software manufacturer SAP $SAP (+2,96 %)had presented its figures for the
figures for the second quarter after the close of the US stock exchange and, despite a difficult
operating result grew more strongly than expected despite the difficult economic situation.
Analyst Toby Ogg from JPMorgan attested to the Group's decent figures overall in an
figures in an environment that is increasingly under pressure.
Jim Covello believes that AI is a big hype and sees a bad end in store for investors. The Goldman Sachs analyst sees no point in companies investing hundreds of billions of dollars in AI applications. "All the stocks in question will eventually come to their knees." For Covello, formerly the best analyst for tech stocks for many years and Head of Research at Goldman Sachs $GS (+3,5 %) "The advantages of AI are not comparable to those of smartphones and the internet. For him, one thing is clear: AI will not trigger the next economic revolution.
Tuesday: Stock market dates, economic data, quarterly figures
Quarterly figures / company dates USA / Asia
12:00 Spotify | UPS quarterly figures
12:30 General Motors quarterly figures
12:55 Coca-Cola quarterly figures
13:00 Philip Morris quarterly figures
13:30 Lockheed Martin quarterly figures
22:01 Texas Instruments quarterly figures
22:05 Alphabet | Tesla | Visa quarterly figures
No time specified: General Electric | Danaher
Paccar Quarterly figures
Quarterly figures / Company dates Europe
06:45 Logitech International | Kühne & Nagel Quarterly figures
07:00 Hella | Chocoladefabriken Lindt & Sprüngli quarterly figures
07:00 Givaudan | Amadeus Fire | Akzo Nobel quarterly figures
07:30 Alstom 1Q sales
17:45 LVMH Results 1H
18:00 Flatexdegiro preliminary result 1H
Economic data
- 09:00 DE: ECB Chief Economist Lane, opening speech at ECB/IMF conference
- 16:00 EU: Eurozone Consumer Confidence Index (flash estimate) July FORECAST: -13.4 previous: -14.0
- 16:00 US: Existing Home Sales June FORECAST: -3.9% yoy previous: -0.7% yoy
