Tuesday:

$TMV (+1,59%) TeamViewer lowers its revenue forecast; the stock price plunges by over 20%. Instead of slight growth, a slight decline in revenue is expected. However, the forecast comes at a time of fragile investor confidence. TeamViewer’s profit rose by 25%. Debt is being steadily reduced, so the interest burden is also likely to decline. In addition, business with the AI platform One is off to a good start.

https://www.t-online.de/finanzen/boerse/ticker/teamviewer-kappt-umsatzprognose-wegen-verzoegerter-abschluesse/0DBAC60036912C58/

$BAYN (+0,41%) Bayer was able to significantly increase its operating profit thanks to surprising growth in the pharmaceuticals division. EBITDA rose by 6.9% to over $10.05 billion. The company also raised its forecast for the operating margin.

https://www.finanzen.net/nachricht/aktien/pharmaceuticals-bayer-aktie-im-aufwind-ueberraschend-starkes-gewinnwachstum-im-pharmageschaeft-16031408

Wednesday:

Elon Musk has backed the Republicans. Consequently, following the bitter election defeat, his companies $SPCX (-1,35%) SpaceX and Tesla are being punished on the stock market. This could result in delays for new data centers as well as fewer government contracts.

https://www.stern.de/news/nach-wahlsieg-der-us-demokraten--aktien-von-tesla-und-spacex-verlieren-deutlich-38501422.html

Thursday:

$NEM (-1,69%) Nemetschek’s organic growth fell slightly short of expectations, which did not go over well on the stock market. Growth came in at just 12.5% instead of 13.6%. Earnings per share, at 0.59 euros, were also slightly below expectations.

https://de.investing.com/news/stock-market-news/nemetschek-verfehlt-im-dritten-quartal-erwartungen-an-organisches-wachstum-93CH-3748572

What exactly does $TMV (+1,59%)
@fiducation

$TMV (+1,59%)

Quick take for investors: The announcement is somewhat negative in the short term because TeamViewer is lowering its revenue forecast. On the positive side, profitability remains stable, and the company expects stronger growth again in 2027. [ir.teamviewer.com]

• TeamViewer has lowered its revenue forecast for 2026. Instead of growth of 0% to 3%, the company now expects revenue to decline by 1% to 2% compared to 2025 (on a constant-currency basis). [ir.teamviewer.com]
• Q3 2026 Results:
• ARR (Annual Recurring Revenue): €736.9 million (-0.6%)
• Revenue: €184.5 million (-2.2% compared to the previous year)
• Adjusted EBITDA margin: 42.8%
  [ir.teamviewer.com]
• First nine months of 2026:
• Revenue: €550.4 million (-1.3%)
• Adjusted EBITDA margin: 43.7%
  [ir.teamviewer.com]
• Reasons for the downward revision of the forecast:
• Delays in closing major enterprise contracts.
• Renewed economic uncertainty in Europe.
• This is expected to weigh on revenue growth in the fourth quarter of 2026. [ir.teamviewer.com]
• Positive developments:
• Strong new business at TeamViewer ONE and DEX.
• Significant ARR growth among the largest enterprise customers.
• Stabilization of the SMB business (small and medium-sized enterprises). [ir.teamviewer.com]
• Outlook for 2027:
• Management expects ARR growth to accelerate through:
• Expansion of enterprise sales in EMEA,
• improved momentum in the U.S. enterprise business,
• a stronger sales pipeline. [ir.teamviewer.com]
• Profit margin remains unchanged:
• The forecast for an adjusted EBITDA margin of approximately 43% for 2026 has been confirmed. [ir.teamviewer.com]

Software-as-a-Service

AI Agents

Moats

Data Platforms

Cloud Infrastructure

Earnings & Revenue

Valuation & Market Sentiment

Adobe $ADBE (-0,24%)

IBM $IBM (-0,48%)

Microsoft $MSFT (-2,1%)

Nemetschek $NEM (-1,69%)

Palo Alto $PANW (+1,74%)

Salesforce $CRM (+0,38%)

SAP $SAP (+0,82%)

TeamViewer $TMV (+1,59%)

Link: https://shorturl.at/oJFnv

As we do every week, here are the top news stories from the past week:

Monday:

CXMT made its stock market debut in China. The company instantly became the most valuable company in mainland China. The company produces DRAM (random-access memory) for smartphones and servers used in AI. As a result, its revenue surged by 700% in the first quarter.

https://www.tagesschau.de/wirtschaft/finanzen/marktbericht-boersengang-cxmt-100.html

Tuesday:

So far, AI has had no negative impact on $NEM (-1,69%) Nemetschek. On the contrary, the software group is raising its forecast for 2026 by 6 percentage points due to the HCSS acquisition. Organic growth is still estimated at 14–15%.

https://www.wallstreet-online.de/nachricht/21161519-nemetschek-se-erhoeht-2026-ausblick-hcss-uebernahme-organisch-bestaetigt

$TMV (+1,59%) TeamViewer confirms its full-year forecast and expects slight growth. On a currency-adjusted basis, revenue remained virtually flat in the second quarter. The enterprise business grew by 8%. The SME business continues to lose ground but expects to stabilize in the second half of the year.

https://www.onvista.de/news/2026/07-28-teamviewer-ausbruch-abwarten-40338625-19-26536886

Wednesday:

The Fed leaves the benchmark interest rate unchanged. Market expectations were mixed. Inflation in the U.S. is more than 1 percentage point away from the 2% target, and fuel costs are likely to rise further due to the war in Iran.

https://www.handelsblatt.com/finanzen/geldpolitik/us-notenbank-fed-laesst-zinsen-unveraendert/100242042.html

Thursday:

Germany’s economy grew in both the first and second quarters. GDP growth stood at 0.4% in the first quarter and 0.2% in the second quarter. The GDP growth of 0.2% exceeded experts’ expectations.

https://www.handelsblatt.com/politik/konjunktur/konjunktur-deutsche-wirtschaft-waechst-im-zweiten-quartal-leicht/100243747.html

At $BMW (+0,25%) BMW, profits fell by over 30% in Q2 to 1.2 billion euros. The main reason for this development is China. While BMW sold more cars in Europe and the U.S., sales in China dropped significantly.

https://www.tagesschau.de/wirtschaft/unternehmen/ueberblick-autobauer-krise-probleme-sparmassnahmen-100.html

$ADS (+0,84%) Adidas posted a loss despite record figures. Revenue reached a new record high of 6.74 billion euros. Even the World Cup finalists wore Adidas. However, marketing expenses also rose by 200 million euros to a total of 924 million euros. As a result, profits fell short of expectations.

https://m.bild.de/politik/trotz-rekordumsatz-und-trikot-boom-adidas-aktie-rauscht-17-prozent-runter-6a6b02a4b5b26399f0be0c70?t_ref=https%3A%2F%2Fwww.bild.de%2Fpolitik%2Ftrotz-rekordumsatz-und-trikot-boom-adidas-aktie-rauscht-17-prozent-runter-6a6b02a4b5b26399f0be0c70

$TMV (+1,59%)

📊 𝐄𝐫𝐠𝐞𝐛𝐧𝐢𝐬𝐬𝐞

• Q2 Revenue: €182.7 million (-1.4% cc)

• ARR: €736.8 million (-0.1% cc)

• Enterprise ARR: +8.3% cc

• Adjusted EBITDA: €78.9 million

• Adjusted EBITDA margin: 43.2%

⠀

🎯 𝐀𝐮𝐬𝐛𝐥𝐢𝐜𝐤

• 2026 guidance confirmed

• Revenue growth (cc): 0% to +3%

• Adjusted EBITDA margin: approximately 43%

⠀

📌 Key Points

• DEX business is undergoing the expected turnaround; enterprise customers are renewing contracts for the long term

• TeamViewer ONE is gaining significant momentum and driving cross-selling and upselling

• SMB customer churn stabilizes; growth is expected to accelerate in the second half of the year

• AI adoption rises to 49,000 customers; ServiceNow partnership strengthens the long-term growth story

⠀

💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭-𝐀𝐮𝐬𝐬𝐚𝐠𝐞

“Our business has reached a turning point: As expected, we are seeing a turnaround in the DEX business and stabilization in the SMB segment. With this momentum, we are well on track to accelerate growth in the second half of the year and confirm our full-year forecast.”

Tuesday:

$BMW (+0,25%) BMW lowers its forecast. Developments in the Middle East and China, in particular, are weighing on the company’s annual targets. In China, the auto market reportedly slumped by 20% overall in May. This is fueling further discount wars there, from which German automakers tend to stay out.

https://www.sueddeutsche.de/wirtschaft/bmw-muenchen-krise-gewinnwarnung-sparprogramm-li.3500059

Thursday:

In the Fed’s first interest rate decision under Kevin Warsh, the interest rate remains unchanged. For the first time in a long while, this decision was also unanimous. Warsh emphasizes, above all, the Fed’s role in keeping inflation in check.

https://www.tagesschau.de/wirtschaft/fed-leitzins-154.html

Friday:

The German defense contractor $RHM (-1,43%) Rheinmetall is looking to enter the weapons production market in Japan and is exploring a potential investment. The plan is to potentially produce weapons for the Japanese domestic market as well as for export.

https://www.handelsblatt.com/unternehmen/industrie/expansion-rheinmetall-prueft-einstieg-in-die-waffenproduktion-in-japan/100234399.html

The German software company $TMV (+1,59%) TeamViewer has once again received an award from Gartner for its AI platform, TeamViewer One. The platform combines remote access with AR. It also features an integrated AI agent named “Tia” that independently resolves IT issues. However, what will be particularly interesting is a look at the Q2 figures and whether this technological leadership can also be translated into growth.

https://www.finanztrends.de/news/teamviewer-aktie-0-3-prozent-guidance-bremst-kurs/

Like every Sunday, the most important news from the past week.

Tuesday:

$BOSS (+1,7%) Hugo Boss makes 6% less turnover, but exceeds market expectations with 905 million euros in the first quarter. The annual targets are confirmed.

https://www.finanzen.net/amp/schwaches-auftaktquartal-hugo-boss-aktie-verliret-ziele-2026-nach-schwachem-q1-bestaetigt-15658976

Wednesday:

The figures from $TMV (+1,59%) Teamviewer are in line with expectations, overall sales are more or less stagnant. The company confirms its sales forecast and expects growth in the second half of the year in particular.

https://www.boerse.de/nachrichten-amp/EQS-News-TeamViewer-Q1-2026-Umsatz-im-Rahmen-der-Erwartungen-Enterprise-ARR-um-8-Prozent-cc-gewachsen-Prognose-fuer-das-Gesamtjahr-bestaetigt/38312224

Thursday:

Industrial orders in Germany increase significantly by 5% compared to the previous month. However, the effects of the Iran war are hardly reflected in the March data. Experts are also talking about possible pull-forward effects due to the Iran war.

https://www.handelsblatt.com/politik/konjunktur/konjunktur-industrie-ueberrascht-mit-kraeftigem-auftragsplus/100223114.html

Friday:

Germany also reported a trade surplus in March. Exports amounted to 135.8 billion euros and imports to 121.5 billion euros. Exports to EU countries grew. However, less was exported to the USA and China.

https://www.handelsblatt.com/unternehmen/industrie/konjunktur-deutsche-exporte-wachsen-produktion-geht-zurueck/100223455.html

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

Also as a video:

https://youtube.com/shorts/21xqwzbxw48?is=zGsPQgv-ZDcN6BX2

The reporting season starts again and $GS (+0,31%) Goldman Sachs reports the best quarter in 5 years. Profit rose to USD 5.4 billion. Profits rose in equity trading in particular, benefiting from the volatile environment.

https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/quartalszahlen-goldman-sachs-vermeldet-bestes-quartal-seit-fuenf-jahren/100215039.html

Wednesday:

As Germany's largest oil supplier, Norway is currently benefiting enormously from the Iran war. The country's oil exports rose by 68% compared to the previous month. This is mainly because the price of Brent crude has risen significantly.

https://m.bild.de/politik/ausland-und-internationales/live-ticker-zum-iran-israel-beginnt-angriff-auf-mullahs-696036f24d1d5f581eeb0751#69df6c8175f529c19cc2be07

Thursday:

GDP in the UK grew by a surprisingly strong 0.5% compared to the previous month. Economists had expected only 0.2%, meaning that the economy is in good shape shortly before the outbreak of the Iran war.

https://www.handelsblatt.com/politik/international/konjunktur-britische-wirtschaft-waechst-stark/100217434.html

Inflation in the eurozone has risen more sharply than originally expected. Instead of 2.5%, the inflation rate in March was 2.6%. The ECB's target is 2.0%.

https://www.handelsblatt.com/finanzen/geldpolitik/ezb-inflation-im-euro-raum-steigt-noch-staerker-an-als-erwartet/100217448.html

Friday:

Short squeeze at $TMV (+1,59%) TeamViewer - TeamViewer presents a new AI tool in cooperation with Bechtle and the share shoots through the roof. This also has to do with the still high short seller ratio, but they are slowly covering their positions.

https://www.wallstreet-online.de/nachricht/20746489-beachtet-teamviewer-aktie-bestaetigt-positiven-trend-5-33-17-04-2026

The most important dates for the coming week:

Wednesday: 12:00 Buba report (DE)

Thursday: 15:45 S&P Manufacturing (USA)

Friday: 10:00 ifo expectations (DE)

#bundesbank
#industriedaten
#ifo
#erwartungen
#news

Can you think of any other dates?

Does anyone remember the movie "Seven"?

$TMV (+1,59%) apparently thought that the "Gwen-Box" would be a great mascot...

And because I have to work with the Bums, this monster now looks into my soul every day. *help plz* 😱