Super Micro Computer lowers revenue forecast for 2025 + Teamviewer aims for double-digit growth again + Siemens Energy confirms forecast + Weak device business weighs on Carl Zeiss Meditec

Super Micro Computer $SMCI (-0,27%)sees higher Q2 results

• Super Micro Computer (SMCI) late Tuesday reported preliminary Q2 non-GAAP earnings of $0.58 to $0.60 per diluted share, up 5% from a year ago.
• Analysts polled by FactSet had expected $0.61.
• Preliminary net revenue for the quarter ended Dec. 31 was $5.6 billion to $5.7 billion, up 54% from the year-ago period.
• Analysts polled by FactSet had expected $5.77 billion.
• For Q3, the company expects non-GAAP earnings per share of $0.46 to $0.62 on revenue of $5 billion to $6 billion.
• Analysts surveyed by FactSet expect $0.65 billion and $5.92 billion, respectively.
• For fiscal 2025, the company now expects revenue of $23.5 billion to $25 billion compared to its previous guidance of $26 billion to $30 billion.
• Analysts surveyed by FactSet expect $24.11 billion.
• The company's shares rose 3.6% in after-hours trading.

Teamviewer $TMV (+4,83%)wants to return to double-digit growth in the medium term

• The software provider Teamviewer intends to accelerate its growth again in the coming years by expanding IT automation and digitally transforming the industry.
• From 2027, the MDAX-listed company aims to return to double-digit percentage annual revenue growth, as the Göppingen-based company announced on Wednesday. By 2028, turnover is expected to climb above one billion euros.
• According to the plans of CEO Oliver Steil, the revenue share of large corporate customers in the so-called enterprise business should then grow to over 40 percent of total revenue, compared to less than a quarter in 2024.
• The higher profitability of the business is expected to increase the Group's adjusted operating margin (adjusted EBITDA) to between 44% and 45%.
• For the current year, the specialist for remote maintenance software has set itself the target of currency-adjusted revenue growth of 5.1% to 7.7%.
• This would correspond to pro forma sales of 778 to 797 million euros, compared to 740 million in the previous year.
• The pro forma figures are based on the assumption that the acquisition of 1E, which was completed at the end of January 2025, would have taken place at the beginning of 2024.
• Teamviewer in its current form is expected to generate revenue of EUR 697 million to EUR 712 million - analysts had previously assumed a figure at the lower end of the range on average.
• The pro-forma adjusted operating margin should be around 43% in 2025.
• Teamviewer had already presented key figures for 2024.
• Revenue increased by 7 percent to 671.4 million euros.
• The adjusted operating margin was 44 percent.
• Below the line, Teamviewer achieved a profit of 123.1 million euros after 114 million euros a year earlier.

Siemens Energy $ENR (+5,12%)confirms forecast

• Following a robust first quarter, the energy technology group Siemens Energy has confirmed its forecast for the current fiscal year 2024/25.
• Comparable revenue is expected to increase by eight to ten percent in the fiscal year ending September 2025, the company announced on Wednesday when presenting detailed figures.
• The management expects the adjusted operating margin to be between three and five percent.
• The grid and gas technology businesses in particular are expected to contribute to this.
• The Munich-based company is still aiming for an after-tax profit of around the break-even point.
• In the first quarter (as of the end of December), Siemens Energy benefited from continued good business and increased sales year-on-year from 7.65 billion to 8.9 billion euros.
• The operating result adjusted for special effects increased from 208 to 481 million euros.
• The gas business made the largest contribution to earnings, followed by grid technology.
• The Group thus confirmed preliminary figures from the end of January.
• Although earnings after tax fell from 1.6 billion to 252 million euros, Siemens Energy had benefited in the same quarter of the previous year from the sale of shares in its Indian energy business to the former parent company Siemens.

Weak equipment business weighs on Carl Zeiss Meditec $AFX (-12,28%)

• Continued weak demand, particularly in the equipment business, has overshadowed the start to the new fiscal year for medical technology provider Carl Zeiss Meditec.
• Thanks to the recent acquisition of Dutch Ophthalmic Research Center (D.O.R.C.), the company's revenue increased by a good 3 percent to around 491 million euros in the first three months of the financial year to the end of December.
• Adjusted for the acquisition and currency effects, however, there was a decline of 7 percent, the company announced in Jena on Wednesday.
• However, incoming orders and orders on hand increased significantly, according to the information provided, which has led to cautious optimism among management.
• The recovery in orders, coupled with a good response to the company's new products, "gives us confidence that we will return to solid organic growth in the coming months," said Group CEO Markus Weber.
• The management confirmed the targets for the year.
• These envisage moderate sales growth and a stable to slightly higher operating result (Ebita).
• However, this key figure fell significantly in the first quarter to 35.2 million euros, compared to 46 million euros in the previous year.

Wednesday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Exxon Mobil USD 0.99
• Target 1.12 USD
• Paccar USD 0.33

• Quarterly figures / company dates USA / Asia
• 08:30 Softbank Group quarterly figures
• 13:00 Kraft Heinz quarterly figures
• 22:00 Cisco Systems quarterly figures

• Quarterly figures / Company dates Europe
• 07:00 Carl Zeiss Meditec | Siemens Energy | Teamviewer | Essilor-Luxottica | Heidelberger Druckmaschinen | ABN Amro | Heineken quarterly figures
• 07:25 Telecom Italia preliminary annual results and strategy 2025-2027
• 07:30 Voestalpine 9 months results | Jenoptik preliminary annual results
• 07:45 Ahold Delhaize annual results
• 08:00 Verbio half-year figures
• 10:00 Deutsche Börse BI-PK | Voestalpine PK
• 10:30 Siemens Energy analyst and press conference
• 14:00 Verbio Analyst Conference
• 17:40 Michelin annual results

• Economic data

14:30 US: Consumer prices January PROGNOSE: +0.3% yoy/+2.9% yoy previous: +0.4% yoy/+2.9% yoy Core Consumer Prices PROGNOSE: +0.3% yoy/+3.1% yoy previous: +0.2% yoy/+3.2% yoy

14:30 US: Real income January

16:00 US: Fed Chairman Powell, hearing in the Financial Services Committee of the US House of Representatives

16:30 US: Crude oil inventory data (week) from the government Energy Information Administration (EIA) previous week

18:00 US: Fed Atlanta President Bostic, speech at National Association ofCorporate Directors (NACD)

18:30 UK: Governing Council member Nagel, speech on "r* in the monetary policy universe: navigational star or dark matter?"

As every Sunday, the most important news of the last week, as well as the three most important dates of the coming week.

Also as a video:

https://youtube.com/shorts/uFwVbCNGMd4?si=R4ReCZQl2ud6wUW-

Monday:

$9868 (+2,93%) Xpeng and $VOW3 (+0,48%) VW deepen their partnership in China 🇨🇳. Among other things, they are opening up their fast-charging networks to each other. New charging stations are also to be built jointly. VW holds a 5% stake in Xpeng.

https://www.handelsblatt.com/unternehmen/industrie/autobauer-xpeng-und-volkswagen-erweitern-ihre-partnerschaft-in-china/100098791.html

$BOSS (+0,13%) Hugo Boss wants to further strengthen the brand and has brought brand expert James Foster on board for this purpose. Foster was most recently head of marketing at Netflix in EMEA and worked at IKEA and Adidas.

https://www.absatzwirtschaft.de/neuer-globaler-marketingchef-bei-hugo-boss-265528/

Inflation is clearly above expectations and is therefore depressing sentiment for the time being. In December, inflation stood at 2.6% Economists had expected 2.4%. The inflation rate is also likely to remain well above the 2.0% target in January. This is due to higher CO2 prices and a more expensive ticket to Germany.

https://www.handelsblatt.com/finanzen/geldpolitik/inflation-teuerungsrate-steigt-in-deutschland-auf-26-prozent/100098327.html

The USA 🇺🇸 puts Tencent on a list of companies that allegedly support the Chinese military. The share loses significantly.

https://de.marketscreener.com/kurs/index/DOW-JONES-INDUSTRIAL-4945/news/USA-fugen-Tencent-und-CATL-der-Liste-chinesischer-Firmen-hinzu-die-angeblich-Pekings-Militar-unte-48689565/

Tuesday:

A cooperation between $NVDA (-1,24%) NVIDIA, $KGX (+1,69%) Kion and $ACN (-0,56%) Accenture to optimize supply chains causes Kion shares to rise significantly. Kion and Accenture are relying on AI from NVIDIA for optimization.

https://www.ariva.de/amp/ki-anwendungen-kion-arbeitet-mit-nvidia-zusammen-11493206

Wednesday:

$TMV (+4,83%) Teamviewer announces via ad hoc that it has exceeded its forecast for the year. Turnover increased by 9% in 2024. In total, it will probably be 671 million euros. The forecast was 662 - 668 million euros. This was mainly due to new billings and significant contracts signed with major customers.

https://www.boerse.de/nachrichten/EQS-Adhoc-TeamViewer-SE-TeamViewer-erzielt-Jahresumsatz-2024-von-ca-671-Mio-EUR-9-Prozent-waehrungsber-ggue-VJ-und-uebertrifft-Prognose-ausschlaggebend-waren-hoehere-Billings-von-ca-700-Mio-EUR-im/36874269

Retail sales have been growing again for 2 years. In real terms, however, the level is still below that of 2021. Compared to the previous month, sales have fallen more sharply than expected. However, the overall consumer mood among Germans is on the rise. The GfK consumer barometer climbed by 1.8 points to -21.3 points.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/handel-deutsche-einzelhaendler-steigern-umsatz-im-jahr-2024/100099305.html

Donald Trump is calling for more military spending and also wants to annex three countries - Canada, Panama and Greenland. This is not only highly dangerous rhetoric, but above all in the interests of Russia and China, who are planning to do the same with Ukraine and Taiwan. If Trump follows up his words with action, this would put the 'ambitions' of China and Russia into perspective

Thursday:

The Chinese fast clothing delivery service Shein probably wants to go public in the first half of the year. The IPO is planned for London. Shein is headquartered in Singapore.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/shein-billigmode-haendler-plant-boersengang-wohl-im-ersten-halbjahr/100099587.html

Friday:

$1913 (+1,47%) Prada is probably planning to take over the Italian fashion house Versace. Versace is currently part of the Capri holding company. A sale of the entire holding company for 8.5 billion euros has failed. Individual brands such as Versace and Jimmy Choo are now up for sale.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/luxusmarken-prada-an-uebernahme-von-versace-interessiert/100099688.html

The labor market report from the USA is significantly better than expected. This could lead to the Fed lowering interest rates more slowly than previously assumed. The unemployment rate fell to 4.1%, expected: 4.2%. A total of 256,000 new jobs were created, compared to an expected 155,000.

https://www.handelsblatt.com/politik/international/konjunktur-us-arbeitsmarktbericht-faellt-ueberraschend-gut-aus/100099726.html

$NLM (+1,36%) Frosta exceeded the profit forecast. As expected, turnover amounted to 638.1 million euros. Profit rose to 42.1 million euros and was thus significantly higher than in the previous year (34.1 million euros). The profit margin was also above expectations at 6.6%.

https://www.4investors.de/nachrichten/amp/boerse.php?sektion=stock&ID=181168

These are the most important dates for the coming week:

🇺🇸

Tuesday: 14:30 Producer prices (USA)

Wednesday: 14:30 Inflation data (USA)

Friday: 15:15 Industrial production (USA)

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

#termine
#inflation
#industrie
#usa

$TMV (+4,83%)

All in men and women

As long as there is no StaRug you can enter

TeamViewer $TMV (+4,83%) achieves annual revenue 2024 of approx. 671

million (+9 % at constant currency compared to the previous year) and exceeds forecast -

Higher billings of approx. EUR 700 million in the full year were the decisive factor

Is TeamViewer underestimated?

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

Also as a video:

https://youtube.com/shorts/hywPiISUD-k?si=1w7z3o-eGUTg2jX-

Monday:

Slightly better economic data from China 🇨🇳. Industrial production is up, but Chinese consumption continues to cause problems. The growth rate in the retail sector was two percentage points below economists' estimates. The reason for this is the ongoing real estate crisis.

https://www.handelsblatt.com/politik/international/china-wirtschaft-zeigt-leichte-anzeichen-einer-stabilisierung/100095026.html

The Purchasing Managers' Index in Germany is worse than expected. Values above 50 signal growth, values below signal contraction. The index currently stands at 47.8 points, higher than in November but worse than expected. However, the manufacturing sector continues to plummet to 42.5 points. The service sector is at 51 points.

https://finanzmarktwelt.de/einkaufsmanagerindex-2-332850/?amp

Tuesday:

Several insider purchases at $TMV (+4,83%) Teamviewer, after the share was sold off due to the 1E purchase. We ourselves hold the share in our value portfolio.

https://www.finanzen.net/insidertrades/teamviewer

Retail sales in the USA 🇺🇸 are slightly above expectations. Compared to the previous month, they increased by 0.7%, while experts had expected 0.6%. Car sales in particular were higher than expected.

https://www.boerse.de/nachrichten-amp/USA-Einzelhandelsumsaetze-steigen-etwas-staerker-als-erwartet/36816240

Wednesday:

The equipment manufacturer $M5Z (+1,16%) Manz slides into insolvency. Most recently, the company focused on production technology for battery factories. However, the boom in battery factories was not quite as strong as expected. The share is down more than 80% today. In 2021, the share was still trading at more than 70 euros.

https://www.handelsblatt.com/unternehmen/industrie/manz-anlagenbauer-aus-reutlingen-geht-in-die-insolvenz-aktie-bricht-ein/100095591.html

The Fed cuts interest rates again by a quarter of a percentage point, but holds out the prospect of fewer rate cuts in the coming year.

https://www.instagram.com/p/DDux4v5TQZi/?igsh=YnM0c2ljamdka3Rq

Thursday:

The US economy is growing more strongly than previously thought, with consumer spending in particular boosting growth. Consumer spending rose by 3.7% in the third quarter. GDP increased by 3.1 %. Exports also exceeded preliminary estimates. This means that the Fed is unlikely to cut interest rates more than twice in the coming year.

https://www.benefitsandpensionsmonitor.com/news/industry-news/us-economy-grows-at-31-as-spending-and-exports-boost-gdp/390462

Friday:

Today, however, there is a direct counter-indicator with regard to the Fed's decision. Inflation in the USA 🇺🇸 is rising, but less strongly than expected. At 2.4%, inflation was only slightly higher than in October (2.3%).

https://www.handelsblatt.com/finanzen/geldpolitik/us-inflationsdaten-preisdruck-in-den-usa-nimmt-zu-anstieg-niedriger-als-erwartet/100095969.html

Key dates for the coming week:

Monday: 08:00 GDP figures (UK)

Tuesday: 14:30 Industrial orders (USA)

Friday: 00:30 Inflation data (Japan)

What other important dates can you think of?

#bip
#usa
#industrie
#inflation
#japan

⬆️⬆️⬆️

- DEUTSCHE BANK RESEARCH raises the price target for NIKE from USD 82 to USD 84. Buy. $NKE (+0,2%)

- RBC raises the price target for ALPHABET A SHARE from USD 210 to USD 235. Outperform. $GOOGL (-1,22%)

- RBC raises the price target for AMAZON from USD 225 to USD 255. Outperform. $AMZN (-1,25%)

- RBC raises the price target for META from USD 630 to USD 700. Outperform. $META (+0,02%)

- ODDO BHF raises the target price for MUNICH RE from EUR 540 to EUR 555. Outperform. $MUV2 (-0,02%)

- ODDO BHF upgrades HERMES to Neutral. Target price EUR 2315. $RMS (+0,13%)

- ODDO BHF raises the target price for AIRBUS from EUR 168 to EUR 180. Outperform. $AIR (+1,51%)

- ODDO BHF raises the price target for FRAPORT from EUR 58 to EUR 61. Outperform. $FRA (-1,12%)

- JPMORGAN raises the target price for FEDEX from USD 366 to USD 370. Overweight. $FDX (+0,09%)

⬇️⬇️⬇️

- GOLDMAN lowers the price target for NIKE from USD 97 to USD 91. Buy. $NKE (+0,2%)

- BOFA lowers the price target for NIKE from USD 95 to USD 90. Buy. $NKE (+0,2%)

- ODDO BHF downgrades CARBIOS to Neutral. $ALCRB (-1,27%)

- KEPLER CHEUVREUX lowers the price target for LANXESS from EUR 31 to EUR 30. Buy. $LXS (+1,51%)

- HAUCK AUFHÄUSER IB lowers the target price for DEUTZ from EUR 8.50 to EUR 7. Buy. $DEZ (-0,13%)

- BARCLAYS lowers the price target for VERTEX from USD 509 to USD 418. Equal-Weight. $VRTX (-1,01%)

- GOLDMAN lowers the price target for BIRKENSTOCK from 59.10 USD to 57.90 USD. Neutral. $BIRK (+2,27%)

- GOLDMAN downgrades TEAMVIEWER from Buy to Neutral and lowers target price from EUR 17 to EUR 12. $TMV (+4,83%)

Goldman lowers Teamviewer to 'Neutral' - target down to 12 euros + Hornbach Holding adjusts sales forecast + Nike outperforms in second fiscal quarter + Today is big expiration day

Downgrade for Teamviewer $TMV (+4,83%)

• The US investment bank Goldman Sachs has downgraded Teamviewer from "Buy" to "Neutral" and lowered its target price from 17 to 12 euros.
• Analyst Mohammed Moawalla wrote on Thursday evening that his buy recommendation was based, among other things, on the prospect of share buybacks.
• However, distributions have become more uncertain in view of the takeover of 1E.
• However, Moawalla remains optimistic about the company's growth potential.

Key figures HORNBACH Holding AG & Co. KGaA Group $HBH (+1,43%)

• Hornbach Holding adjusts its sales forecast for the 2024/25 financial year to the previous year's level, while the forecast for adjusted earnings before interest and taxes (EBIT) is confirmed.
• Third-quarter sales increase by 1.3 percent to EUR 1.505 billion thanks to the European business, while EBIT falls by 28 percent to EUR 34.6 million, mainly due to wage increases

Nike $NKE (+0,2%)
with quarterly figures

• Nike exceeds analysts' expectations in the second quarter with sales of 12.35 billion dollars, although sales fell by 8 percent year-on-year.
• Profit falls by 26 percent to 1.16 billion dollars, while the share price rises by around 8 percent in after-hours trading.

Friday: Stock market dates, economic data, quarterly figures

Big expiry day

• ex-dividend of individual stocks

Hewlett Packard Enterprise 0.13 USD

British American Tobacco USD 0.74

• Quarterly figures / company dates Europe

07:00 Hornbach Holding AG Quarterly figures

• Economic data

08:00 DE: Producer prices November FORECAST: +0.3% yoy/-0.3% yoy previously: +0.2% yoy/-1.1% yoy

08:00 UK: Retail Sales November OUTLOOK: -0.3% yoy/+1.5% yoy previous: -0.7% yoy/+2.4% yoy

12:00 DE: Expiry futures and options STOXX family (Eurex)

13:00 DE: Expiry DAX futures and options (Eurex)

13:00 DE: Expiry TecDAX futures and options (Eurex)

14:30 US: Personal Spending and Income November Spending / Income FORECAST: +0.5% yoy/+0.4% yoy previous: +0.4% yoy/+0.6% yoy PCE Price Index / Total Rate FORECAST: +0.2% yoy/+2.5% yoy previous: +0.2% yoy/+2.3% yoy PCE price index / core rate PROGNOSE: +0.2% yoy/+2.9% yoy PREV: +0.3% yoy/+2.8% yoy

16:00 EU: Eurozone Consumer Confidence Index (flash estimate) December FORECAST: -14.0 previous: -13.7

16:00 US: Index Consumer Sentiment Uni Michigan (2nd survey) December FORECAST: 74.0 1st survey: 74.0 PREVIOUS: 71.8

17:20 DE: Expiry SMI future (Eurex)

17:30 DE: Expiry equity options (Eurex)

21:15 US: Expiry e-mini Nasdaq future | e-mini S&P future

At $TMV (+4,83%) Teamviewer recently saw two insider purchases. We have the stock in our value portfolio ourselves. This year there were share buybacks amounting to 150 million euros. After the acquisition of 1E, however, the share price fell significantly.