12.11.2024
MicroStrategy acquires around 27,200 Bitcoin for around USD 2 billion in cash + Lack of growth impetus: Infineon expects further declines + Record summer at SIXT + Cancom warns of profit decline
MicroStrategy $MSTR (-13,81%) Incorporated, known as the company with the largest Bitcoin holdings in the world, announced on Monday the acquisition of approximately 27,200 Bitcoin in the period from October 31, 2024 to November 10, 2024. This announcement comes at a time when the Bitcoin price has surpassed the 81,000 US dollar mark - a development that observers associate with US President-elect Donald Trump's positive attitude towards digital assets. ...
After a weak financial year, chip manufacturer Infineon $IFX (+0,2%) is cautious about its future development. The company announced in Neuberg on Tuesday that revenue in 2024/25 (as at the end of September) is likely to fall slightly. The segment result margin, which measures operating profitability, is expected to be in the mid to high tens of percent range. This is well below analysts' expectations. Customers' warehouses are still full, they said. "With the exception of artificial intelligence, our end markets are currently offering hardly any growth impetus and the cyclical recovery is being delayed," commented CEO Jochen Hanebeck. Infineon is therefore preparing for a subdued business performance.
The company expects a weak start to the year. In the traditionally weaker first quarter, sales are likely to fall to 3.2 billion euros, compared to 3.9 billion euros in the previous quarter. The segment result margin is expected to be in the mid-teens, after 21.2% in the previous three months.
Record summer for SIXT $SIX2 (-1,06%)
- Revenue at all-time high: EUR 1.24 billion, an increase of 10% compared to Q3 2023 and around 60% compared to the last pre-corona year 2019
- Strong operating performance with record EBITDA of EUR 542.4 million High demand in summer business coupled with tight fleet led to higher capacity utilization than in 2023
- Optimized vehicle purchasing: purchasing at improved conditions and progressive de-risking after overcoming the years of vehicle shortages
- Catch-up in earnings: after a difficult start to the year and a persistently challenging market environment, earnings before taxes (EBT) in Q3 of EUR 246.4 million back at the very positive level of the same quarter of the previous year with an EBT margin of 19.8%
- Outlook: Further significant increase in Group sales expected for the year as a whole; EBT forecast of around EUR 340 million, which is in line with current market expectations (EUR 352 million)
The IT service provider Cancom $COK (-1,11%) is reducing its annual targets due to new political uncertainties, particularly in its core markets of Germany and Austria. The SDax company announced on Monday after the close of trading in Munich that sales in 2024 are only expected to rise to between 1.65 and 1.75 billion euros, compared to a good 1.5 billion euros in the previous year. Previously, 1.75 to 2 billion euros had been on the cards. The Cancom share came under pressure after the news was announced and traded 6.6 percent lower. Earnings before interest, taxes, depreciation and amortization (EBITDA) are now likely to fall below the previous year's level in the worst-case scenario: Cancom's Executive Board considers only 112 to 130 million euros to be realistic for 2024. Previously, the target was 130 to 155 million. The management justified the pessimistic outlook with the fact that Cancom usually generates a significant part of its business with public sector clients and SME customers in the fourth quarter.
Tuesday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
IBM USD 1.67
Visa (A) USD 0.59
Quarterly figures / company dates USA / Asia
09:00 Softbank quarterly figures
12:00 Home Depot | Spotify quarterly figures
No time specified: Tyson Foods | Mosaic Quarterly figures
Quarterly figures / Company dates Europe
07:00 KWS Saat | Brenntag | Wienerberger quarterly figures
07:30 Bayer | Infineon | Elringklinger | Indus Holding | Sixt | SAF-Holland quarterly figures
07:35 Jenoptik | United Internet | Jungheinrich quarterly figures
07:50 1&1 | Medios | PVA TePla quarterly figures
08:00 Secunet Security | Cancom | Verbio | Astrazeneca | Vodafone | Leifheit | OHB quarterly figures
09:00 EnBW | Ionos | KSB Quarterly figures
10:00 Brenntag | Bayer | Sixt PK
11:00 Jenoptik PK
13:00 EnBW Analyst Conference
14:00 Bayer | Brenntag Analyst Conference
15:00 Elringklinger PK
22:05 Flutter Entertainment Q3 sales | Alcon quarterly figures
Economic data
- 08:00 DE: Consumer prices (final) October PROGNOSE: +0.4% yoy/+2.0% yoy Preliminary: +0.4% yoy/+2.0% yoy Previous: 0.0% yoy/+1.6% yoy HICP PROGNOSE: +0.4% yoy/+2.4% yoy Preliminary: +0.4% yoy/+2.4% yoy Previous: -0.1% yoy/+1.8% yoy
- 08:00 UK: Labor market data October unemployment benefit recipients Unemployment rate 3 months (ILO) FORECAST: 4.1% previous: 4.0%
- 11:00 DE: ZEW Economic Sentiment Index November FORECAST: 13.3 points previously: 13.1 points Economic situation FORECAST: -84.4 points previously: -86.9 points
- 11:00 US: Philadelphia Fed President Harker, speech on "Fintech, AI and the Changing Financial Landscape"
