10.10.2024
Ministry of Justice considers splitting up Google + Varta in rally mode due to contract with Porsche for lithium cells + Deutsche Telekom wants to pay out more money and buy back its own shares + Bayer very weak + Continental very firm
In August, an American federal court ruled that Google $GOOGL (-0,34%) used illegal methods to maintain its monopoly in the online search sector. The consequences of the decision are now under discussion. The US Federal Department of Justice is continuing to discuss a split-up.
The recovery rally that began the previous day at Varta $VAR1 (-7,6%) continued on Wednesday due to encouraging news. The share price had already risen by more than 29 percent on Tuesday and now there was a further jump of 79 percent on Wednesday. Most recently, the shares of the battery manufacturer, which had got into difficulties, cost 3.40 euros. Varta had announced the signing of a contract with the sports car manufacturer Porsche AG $P911 (-2,02%) regarding an investment in the field of large-format lithium-ion cells. According to a statement on Wednesday, the company agreed with its customer Porsche on a majority stake in the Varta subsidiary V4Drive Battery GmbH. A capital increase is to be carried out at the subsidiary in order to implement the investment. Varta had already announced on Monday that key agreements had been concluded with financiers and investors, marking a further milestone in its restructuring concept. Short-term bridge financing was also announced on Monday.
The Deutsche Telekom $DTE (-0,32%) intends to pay out a higher dividend to its shareholders for the current year than expected. The payout is to rise from 77 cents in the previous year to 90 cents per share, the DAX-listed company announced before an investor event in Bonn on Thursday. Analysts had expected slightly less on average. The dividend proposal still has to be confirmed at the Annual General Meeting. Deutsche Telekom also announced share buybacks of up to two billion euros for 2025. The Board of Management will then present its targets for the coming years on Thursday and Friday.
Bayer $BAYN (-2,7%) fell by 6.8 percent following a decision by the Supreme Court in the US state of Washington to reopen a lawsuit concerning the long-term health effects of the chemical PCB. Bayer had received a favorable decision in the lower court as recently as May, when an appeals court overturned a first-instance decision due to errors. Compensatory and punitive damages totaling USD 185 million, which three teachers at a school in the greater Seattle area had won before a jury in 2021, were awarded.
Continental $CON (-0,19%) on the other hand, gained 7.2 percent. The automotive supplier is likely to achieve the majority of the positive effects from outstanding price negotiations in the third quarter, as it told analysts. "The statements are being interpreted to mean that the third quarter went somewhat better than feared," said one market participant.
Thursday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
AT&T USD 0.28
Oracle 0.40 USD
Verizon Communications USD 0.68
Quarterly figures / company dates USA / Asia
Untimed: Tesla: Presentation of Tesla's Robotaxi announced
Quarterly figures / company dates Europe
07:00 Deutsche Telekom | Gerresheimer | Südzucker quarterly figures | Givaudan sales 9 months
07:30 About You result 1H
09:30 Mercedes-Benz sales figures 3Q | Deutsche Pfandbriefbank PK for Capital Markets Day
10:00 BMW sales figures 3Q
No time specified: Deutsche Telekom Capital Markets Day
Economic data
- 01:50 JP: Producer prices 9/24
- 08:00 DE: Retail sales August
- 13:30 EU: ECB, minutes of the September 11/12 Governing Council meeting
- 14:30 US: Initial Jobless Claims (week) FORECAST: 230,000 previous: 225,000 | Real Income September
- 14:30 US: Consumer Prices September PROGNOSE: +0.1% yoy/+2.3% yoy previous: +0.2% yoy/+2.5% yoy Core rate PROGNOSE: +0.2% yoy/+3.2% yoy previous: +0.3% yoy/+3.2% yoy
