26.09.2024
Tilray: In the fast lane with HDD9 drinks + SMA Solar is cutting back - job cuts likely + SAP is being targeted by the US Department of Justice + 50,000 Wirecard shareholders can hope for a little cash + Delivery Hero rally continues - 12-month high
The US investment bank Jefferies has raised its rating for Tilray $TLRY (+0,2%) to "Buy" with a price target of 2.50 dollars. Based on the current share price, this corresponds to a potential return of 48%. In his current study, analyst Kaumil Gajrawala highlighted the launch of a new range of beverages containing hemp-derived Delta-9-THC (HDD9). These products are expected to be available in key US markets from October 2024.
The weakening inverter manufacturer SMA Solar $S92 (+0%) wants to make substantial savings due to the problems in the business with private and commercial solar systems and is also likely to cut jobs. The Managing Board intends to launch a restructuring and transformation program that is expected to result in cost savings of 150 to 200 million euros, as the SDax company announced late Wednesday evening in Niestetal, Hesse. The sales development in the Home Solutions and Commercial & Industrial Solutions segments continues to be significantly influenced by persistently high inventories at dealers and installers as well as a generally very challenging market environment, it said. The share price rose by two percent after the close of trading on the Tradegate trading platform compared to the Xetra close. "In order for SMA to remain an integral part of the global energy transition in the future, we must now position ourselves better and for the future," said CEO Jürgen Reinert according to the press release. He wants to use the cost-cutting program to stabilize the company financially in the short term and realign it on the market.
SAP $SAP (+0,51%) was under pressure to sell following a report that the company in the USA, as well as the US IT reseller Carahsoft, had been targeted by the US Department of Justice. Since at least 2022, lawyers have been investigating whether the German software group had entered into possible price agreements with Carahsoft in order to obtain excessive prices from the US Army and other US authorities. This is according to court documents filed, reported the news agency Bloomberg. An SAP spokesperson did not want to comment on this when asked by Dow Jones Newswires.
Following a new decision by the Munich Higher Regional Court, a good 50,000 Wirecard $WDI -shareholders can hope for compensation in the insolvency proceedings for the time being. The fifth senate of the Higher Regional Court has decided that Wirecard shareholders can file their claims in the insolvency proceedings. The lawsuit against the insolvency administrator Michael Jaffé was brought by the asset management company Union Investment, which had purchased Wirecard shares for 33 of its clients between 2015 and 2020. First reported by the "Süddeutsche Zeitung". The case is not yet closed. It is a so-called "interim judgment"; the judges in the case did not decide on the grounds or the amount of the claims for damages filed by Union Investment.
The mood of optimism among investors in Delivery Hero $DHER (+1,5%) continued on Wednesday. The shares continued their rapid recovery, which began at the beginning of August, with a 7.7 percent jump in price to EUR 34.53. This was the first time in more than a year that they had exceeded the EUR 34 mark. The old highs from November 2023 and April 2024 were recently close to this level, but the increase was recently put back into perspective to almost 5%. Recently, the prospect of an IPO of the rapidly growing Middle East and North Africa brand Talabat, among other things, has been arousing the imagination of investors, who have been used to a lot of grief since the record high from the coronavirus era. In January 2021, up to EUR 145 was paid when the pandemic lockdowns triggered hype around online services. In the spring of this year, the sell-off then ended at a level of just under EUR 15, from which there have only been temporary recovery rallies so far. In July and August, the shares came even closer to the low.
Thursday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
British American Tobacco 0.59 GBP
Philip Morris International 1.35 US
Quarterly figures / company dates USA / Asia
17:00 Intuit Investor Day
22:00 Costco Wholesale quarterly figures
Quarterly figures / Company dates Europe
07:00 KWS Saat detailed annual results + annual report
08:00 Verbio annual results and annual report | Hennes & Mauritz 9-month results
10:00 KWS Saat BI-PK
11:30 BASF Capital Markets Day, Day 1
14:00 Verbio Earnings-Call
Untimed: Thyssenkrupp: Supervisory Board meeting at Thyssenkrupp Steel
Economic data
- 08:00 DE: GfK consumer climate indicator September FORECAST: -21.3 points previously: -22.0 points
- 09:30 CH: Swiss National Bank (SNB), outcome of the Monetary Policy Council meeting
- 10:00 EU: ECB, M3 money supply and lending August M3 money supply FORECAST: +2.6% yoy previously: +2.3% yoy
- 14:30 US: New orders for durable goods August PROGNOSE: -3.0% yoy previous: +9.8% yoy
- 14:30 US: GDP (3rd release) 2Q annualized PROGNOSE: +3.0% yoy 2nd release: +3.0% yoy 1st quarter: +1.4% yoy GDP deflator PROGNOSE: +2.5% yoy 2nd release: +2.5% yoy 1st quarter: +3.1% yoy
- 14:30 US: Initial jobless claims (week) FORECAST: 223,000 Previous: 219,000
