Zalando Azione Forum

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- DEUTSCHE BANK RESEARCH raises its price target for BMW from EUR 90 to EUR 95. Buy. $DBK (-2,66%)

- BERNSTEIN raises the price target for QUALCOMM from USD 200 to USD 215. Outperform. $QCOM (-0,3%)

- UBS raises the price target for LYFT from USD 13 to USD 18. Neutral. $LYFT (+0,66%)

- BARCLAYS raises the price target for SIEMENS HEALTH from EUR 60.50 to EUR 62.50. Overweight. $SHL (-1,29%)

- WARBURG RESEARCH raises the price target for KONTRON from EUR 28 to EUR 28.40. Buy. $KTN (-1,11%)

- UBS upgrades KINGSPAN GROUP from Neutral to Buy. Target price 90 EUR. $KRX (-2,01%)

- WARBURG RESEARCH raises the price target for ZEAL NETWORK from EUR 59 to EUR 64. Buy. $TIMA (+0,12%)

- GOLDMAN raises the price target for VONOVIA from EUR 42.70 to EUR 43.70. Buy. $VNA (+2,7%)

- BARCLAYS raises the price target for AHOLD DELHAIZE from EUR 30 to EUR 31. Equal-Weight. $AD (+0,73%)

- BARCLAYS raises the target price for FMC from EUR 38.50 to EUR 39. Equal-Weight. $FMC (-1,11%)

- JPMORGAN raises the target price for COMMERZBANK from EUR 18 to EUR 18.40. Overweight. $CBK (-1,43%)

- JPMORGAN raises the target price for PUMA SE from EUR 40 to EUR 44. Neutral. $PUM (+0,67%)

- JPMORGAN raises the target price for JUST EAT TAKEAWAY from GBP 13.96 to GBP 14.15. Overweight. $TKWY (+0,07%)

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- JEFFERIES downgrades PALANTIR from Hold to Underperform. Target price USD 28. $PLTR (+5,8%)

- DEUTSCHE BANK RESEARCH lowers the price target for NOVO NORDISK from DKK 1100 to DKK 1000. Buy. $NOVO B (+0,73%)

- RBC lowers the price target for NIKE from 82 USD to 80 USD. Sector Perform. $NKE (+0,58%)

- ODDO BHF downgrades ASM INTERNATIONAL to Outperform. Target price EUR 960. $ASM (-1,38%)

- KEPLER CHEUVREUX downgrades HENSOLDT from Buy to Hold. Target price EUR 34. $HAG (+2,31%)

- DEUTSCHE BANK RESEARCH lowers the price target for ZALANDO from EUR 40 to EUR 36. Buy. $ZAL (+1,5%)

- DEUTSCHE BANK RESEARCH lowers the price target for VESTAS from DKK 165 to DKK 150. Hold. $VWS (-2,71%)

- BOFA downgrades SIEMENS ENERGY from Buy to Neutral. Target price EUR 40. $ENR (+2,43%)

- METZLER lowers the price target for VONOVIA from EUR 28.50 to EUR 28. Sell. $VNA (+2,7%)

- BARCLAYS lowers the price target for TEAMVIEWER from EUR 18 to EUR 15.50. Overweight. $TMV (+2,46%)

- WARBURG RESEARCH lowers the price target for KLÖCKNER & CO from EUR 6 to EUR 5.70. Buy. $KCOB

- HAUCK AUFHÄUSER IB lowers the target price for NORMA GROUP from EUR 32 to EUR 27. Buy. $NOEJ (-2,65%)

- WARBURG downgrades EDAG ENGINEERING from Buy to Hold and lowers target price from EUR 13 to EUR 9.50. $ED4 (-1,01%)

- LBBW lowers the price target for ALLGEIER from EUR 24 to EUR 20. Buy. $AEIA

- BARCLAYS lowers the price target for HENKEL from EUR 79 to EUR 77. Equal-Weight. $HEN (+0,21%)

- BERENBERG lowers the price target for KRONES from EUR 157 to EUR 154. Buy. $KRN (+0,5%)

11.10.2024

USA: Inflation weakens less than expected + Next reporting season starts with the banks + Zalando becomes more optimistic for 2024 + US ELECTION 2024: Three scenarios for the economy

In the US, inflation weakened less than expected in September. Consumer prices rose by 2.4 percent compared to the same month last year, as the US Department of Labor announced in Washington on Thursday. The inflation rate is the lowest since February 2021, having stood at 2.5 percent in September. Economists had expected the rate to fall more sharply to 2.3 percent. Compared to the previous month, prices rose by 0.2%. Economists had only forecast an increase of 0.1 percent. The core inflation rate excluding energy and food rose from 3.2 percent in August to 3.3 percent in September. Compared to the previous month, core consumer prices rose by 0.3%. An increase of only 0.2% had been forecast here. The Fed pays particular attention to the core rate. According to experts, it reflects the general price trend better than the overall rate. The Fed is aiming for an inflation rate of two percent in the medium term. The Fed is heading for a further easing of its monetary policy. The financial markets are expecting a key interest rate cut of 0.25 percentage points in November. This was also the reason why the markets fell again yesterday.

The online retailer Zalando $ZAL (+1,5%) wants to go one better in 2024 after a good start to the new fall and winter season. For the current year, the gross merchandise volume (GMV) is set to increase by three to five percent to 15.1 to 15.4 billion euros, as the DAX-listed company surprisingly announced shortly after the close of trading on Thursday in Berlin. Turnover is expected to increase by two to five percent to between 10.3 and 10.7 billion euros in 2024. Previously, the managers had forecast a maximum of five percent for both key figures and stagnation in the event of unfavorable conditions. In 2023, the gross value of goods amounted to around 14.6 billion euros and turnover to 10.1 billion euros. Earnings before interest and taxes (EBIT) for the current year, adjusted for one-off effects, are now expected to rise to between 440 and 480 million euros. Previously, this figure was between 380 and 450 million euros. For 2023, Zalando had reported an adjusted operating profit of just under 350 million euros. Based on preliminary figures, the gross merchandise volume in the third quarter jumped by almost eight percent to 3.5 billion euros. In the three months to the end of September, Zalando generated sales of 2.4 billion euros, around five percent more than in the previous year. Before taxes, depreciation and amortization and excluding one-off effects (EBIT), the company generated 93 million euros - significantly more than analysts had expected on average. The Management Board plans to present the full figures on November 5. Zalando gained up to 4% yesterday.

Four weeks before the US presidential elections the polls point to a neck-and-neck race between Democratic candidate Kamala Harris and Republican candidate Donald Trump. If the controversial ex-president returns to the White House, Europe faces the double threat of additional tariffs and less US aid for Ukraine. On the other hand, the simultaneous elections to both chambers of Congress (Senate and House of Representatives) are almost as important for the economic prospects of the USA as the race for the White House. This is because while the President has far-reaching powers in areas such as foreign and trade policy, Congress is responsible for taxes and government spending. The close election polls suggest that there will be no certainty about who will move into the White House or who will win the majority in both chambers of Congress until the final election result. We therefore examine three different scenarios for the outcome of the elections on November 5 and their impact on the economy in the US and Europe.

https://www.berenberg.de/uploads/web/Economics/Documents-DE/Trends/241010_Makro-Trends_US-Wahl.pdf

Friday: Stock market dates, economic data, quarterly figures

Stock exchange holiday in Hong Kong

Quarterly figures / company dates USA / Asia

12:15 Blackrock Inc, 3Q results

12:45 JP Morgan | Wells Fargo quarterly figures

Quarterly figures / Company dates Europe

09:00 Porsche AG 3Q sales figures and pre-close call

10:00 Deutsche Telekom Continued Capital Markets Day (since 10.10.)

11:00 Volkswagen sales figures 3Q

Economic data

• 03:00 KR: Bank of Korea, Monetary Policy Council Base Rate results FORECAST: 3.25% previously: 3.50%
• 08:00 DE: Consumer Prices (final) September PROGNOSE: 0.0% yoy/+1.6% yoy Preliminary: 0.0% yoy/+1.6% yoy Previous: -0.1% yoy/+1.9% yoy HICP PROGNOSE: -0.1% yoy/+1.8% yoy Preliminary: -0.1% yoy/+1.8% yoy Previous: -0.2% yoy/+2.0% yoy
• 08:00 UK: GDP month August | trade balance August | industrial production August
• 14:30 US: Producer prices September Forecast: +0.1% yoy previous: +0.2% yoy Core rate (excluding food and energy) Forecast: +0.2% yoy previous: +0.3% yoy
• 16:00 US: Index consumer sentiment Uni Michigan (1st survey) October FORECAST: 71.0 previous: 70.1

$ZAL (+1,5%) raises its forecast for the 2024 financial year. The company expects sales growth of between 2% and 5%. Adjusted EBIT is expected to be between 440-480 million euros.

The analysts' price targets are currently between € 27 and € 44. Following the positive ad hoc announcement, the share price rose considerably in post-market trading.

https://corporate.zalando.com/de/investor-relations/finanzpublikationen/pflichtveroeffentlichungen/ad-hoc-mitteilungen

What happened to €100,000...

Or you could also say "Any monkey can beat the market" 😅

ttps://www.finanzen100.de/finanznachrichten/wirtschaft/wie-schimpansen-mit-dart-pfeilen-zu-den-besten-bankern-der-wall-street-wurden_H1960490147_546306/

At the end of the 3rd quarter, it's time for another update:

100,000€ invested from January of the respective year - B&H:

2022 Total return +43,526.00€ TTWROR 35.05% https://getqu.in/tcIuml/

2023 total return +€34,388.58 TTWROR 73.32% https://getqu.in/JjIr8V/

2024 Total return +€ 17,945.95 TTWROR 18.76% https://getqu.in/euJ994/

Highlights / Lowlights 2022:

$MELI (+6,83%) +142% / $META (+0,4%) +141% / $SAP (-0,4%) +100% / $RBLX -15%

Highlights / Lowlights 2023:

$RDC (+9,53%) +104% / $PAYC (+1,45%) -40%

Highlights / Lowlights 2024:

$ZAL (+1,5%) +76% / $9988 (-5,04%) +54% / $RKT (+0,5%) -10% / $KTN (-1,11%) -18%

For me, my 100k deposits are a nice (long-term) experiment. End of 2021 as #100kchallenge initiated for the year 2022. After the deep red 2022 year, I started the 2nd round in 2023 with only a few motivated people. Well, and in 2024 I started again on my own.

Now it's time to start thinking about 2025... Let's see which shares will go into my 2025 portfolio...🐵🐵🐵🐵

06.08.2024 + Worse averted, Nikkei 225 recovers strongly + Fraport expects fewer passengers as problems at Boeing and Airbus put the brakes on + Zalando posts jump in profits + Rational grows more strongly than expected

After the recent sell-off in the DAX showed signs of stabilizing on Tuesday. Broker IG valued the leading German index 0.78% higher at 17,475 points a good two hours before the Xetra start.

Very weak global stock markets in the face of recession worries in the USA had not spared the

the Dax on Monday, but the round mark of 17,000 points had held.

held. The index could now recapture the 200-day line, which is a key indicator of the longer-term trend.

the index could now recapture it, which currently stands at 17,412 points.

In Japan, the leading index Nikkei-225 was on course for recovery on Tuesday. It gained nine percent around an hour before the end of trading there. There were also signs of improvement in the USA on Tuesday after a very weak start to the week.

The online retailer Zalando
$ZAL (+1,5%) continues to benefit from its efficiency measures. Thanks to good inventory management and lower logistics costs, earnings before interest and taxes (EBIT) adjusted for special effects climbed by almost a fifth to 171.6 million euros in the second quarter, as the DAX-listed company announced in Berlin on Tuesday. At the bottom line, profit jumped by almost 70 percent to 95.7 million euros compared to the same period last year. The company confirmed its annual targets. Zalando emphasized that demand had increased strongly, especially in the sports, designer and beauty sectors. The gross merchandise value for the three months to the end of June rose by 2.8 percent to 3.8 billion euros. Sales increased by 3.4 percent to around 2.6 billion euros.

The commercial kitchen equipment supplier Rational
$RAA (+2,46%) benefited from high demand in Asia in the first half of the year. Compared to the previous year, sales increased by four percent to 581 million euros, as the MDax-listed company announced in Landsberg on Tuesday. Sales in the second quarter increased by six percent to a record figure of just under 295 million euros. Earnings before interest and taxes (EBIT) increased by ten percent to 149 million euros in the first half of the year. Rational slightly exceeded the expectations of experts surveyed by Bloomberg in terms of both sales revenue and profit. The forecast for the current year was also confirmed.

The Frankfurt airport operator Fraport
$FRA (+2,15%) is feeling the effects of the problems at Boeing. Due to delivery bottlenecks for aircraft for its main customer Lufthansa, fewer passengers will be handled in Frankfurt this year than previously hoped for, as Fraport announced in Frankfurt on Tuesday. The Executive Board now expects only the lower half of the previously announced range of 61 to 65 million passengers at Germany's largest airport. Another reason is further maintenance intervals for the Airbus 320 . Meanwhile, Fraport performed better than analysts had expected in the second quarter. In the three months to the end of June, revenue rose by almost 11 percent to around 1.15 billion euros. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to just under 355 million euros. Fraport reported a Group result of around 148 million euros and the bottom line profit amounted to 134 million euros. A year earlier, this had amounted to 102 million euros. The management headed by Stefan Schulte confirmed the forecasts for the operating profit. The US aircraft manufacturer Boeing is no longer allowed to ramp up production of its medium-haul jets due to quality defects. And hundreds of Airbus planes will have to stay on the ground longer because engine manufacturer Pratt & Whitney has ordered their turbines back to the workshops ahead of schedule.

Economic data

• 08:00 DE: New orders June seasonally adjusted FORECAST: +0.5% yoy previous: -1.6% yoy
• 11:00 EU: Retail Sales June Eurozone PROGNOSE: +0.2% yoy previous: +0.1% yoy
• 14:30 US: Trade Balance June FORECAST: -72.50 bn USD previously: -75.07 bn USD

Quarterly figures / company dates USA / Asia

12:30 Caterpillar quarterly figures

13:00 Uber quarterly figures

22:01 Amgen quarterly figures

22:05 Airbnb quarterly figures

Untimed: The Mosaic quarterly figures

Quarterly figures / Company dates Europe

07:00 Carl Zeiss Meditec | Fraport | Rational Quarterly figures

07:00 Zalando | Adecco Quarterly figures

07:30 Bayer | Manz half-year figures

08:00 Schaeffler | Banca Monte dei Paschi Quarterly figures

08:00 Cherry | New Work quarterly figures

09:30 Zalando Analyst Conference

14:00 Bayer | Fraport Analyst Conference

15:00 Rational Analyst Conference

Do you think that the companies' quarterly figures will still make a big difference?

$BNTX (+3,76%) , $IFX (-0,83%) , $8001 (+0,85%) , $PLTR (+5,8%) , $O (+2,65%) , $WMB (+2,38%)

$ABNB (-6,51%) , $AMGN (+2,01%) , $BAYN (-1,69%) , $CAT (-2,91%) , $UBER (-1,3%) , $ZAL (+1,5%)

$CBK (-1,43%) , $DIS (+0,84%) , $OXY (-0,67%) , $MNST (+1,28%) , $NOVO B (+0,73%) , $PUMA , $SHOP (+2,94%) , $ENR (+2,43%) , $6758 (+9,38%) , $WBD (-1,27%)

$ALV (-0,71%) , $DTE (+0,79%) , $LLY (+5,07%) , $MUV2 (-0,5%) , $RHM (+1,63%) , $SIE (-2,51%)

$ZAL (+1,5%) -7%. Morgan Stanley analyst Luke Holbrook changes rating from "Overweight" to "Equal weight". Growth ambitions probably too ambitious.

Stop loss has settled.

Economy on 14.03.2024...

Dax celebrates figures from E.ON and Co. Bitcoin over $73,000 ⤵️

$BTC (+0,49%)
Bitcoin over 73,000$. Who would have thought it? You always notice how sentiment towards stocks is when they are in the basement. Now you're constantly being asked whether it's still worth getting in. You can see how emotional most people are on the stock market. When it's low, everything always sucks, even though it's sometimes worth buying, and when it's rising, it's the best there is. Why not get in when the price is right? You don't just have to understand this in relation to BTC, but in general.

But why is there only ever talk of BTC? What about $ETH (+0,31%)
Ethereum. It too has more than doubled in value in recent months. It's important to remember that BTC now has approved spot ETFs and ETH is only just being discussed. I could therefore very well imagine that ETH will outperform BTC at some point in the ongoing bull market (only if the spot ETF really comes, of course). Crypto has now taken up over 50% of my portfolio. However, profits will be left to run until the targets are reached and then the reallocation will take place. It remains very exciting to see what dimensions will be reached here. However, I also think that this will be the last strong bull market in the sector now that the large institutions will dominate it.

Yesterday there were again some figures from Germany and Europe. Let's just take a look at a few of them. The market certainly celebrated them!

$EOAN (-1,03%)
E.ON achieves sales of €93.68 billion in 2023 (previous year: €115.66 billion), adjusted EBITDA of €9.37 billion (previous year: €8.05 billion, preliminary: €9.4 billion), adjusted EBIT of €6.38 billion (previous year: €5.19 billion), adjusted net profit of €3.06 billion (previous year: €2.7 billion, preliminary: €3.1 billion). For 2023, E.ON is proposing a dividend of €0.53 per share (previous year: €0.51 per share, analyst forecast: €0.53 per share). In its outlook for 2024, E.ON expects EBITDA (adjusted) of €8.8 to €9 billion (forecast: €8.6 billion), an adjusted net profit of €2.8 to €3.0 billion (forecast: €2.7 billion) and investments of €7.2 billion (forecast: €6.5 billion). In the years from 2024 to 2028, E.ON plans to invest €42 billion (forecast: €34.5 billion). For 2028, the Group is forecasting EBITDA (adjusted) of over €11 billion (forecast: €9.8 billion).

$ADS (-1,81%)
adidas generates 2023 final sales of €21.4 billion (PY: €22.5 billion, preliminary: €21.4 billion), a final operating profit of €268 million (PY: €669 million, preliminary: €268 million) and a net result from continuing operations of -€58 million (PY: €254 million). Adidas proposes an unchanged dividend for 2023 unchanged dividend of €0.70 per share for 2023 (forecast: €0.52). Outlook confirmed, for 2024 further operating profit of around €500m and sales growth (ex FX) in the mid 1-digit percentage range expected.

$ZAL (+1,5%)
Zalando will achieve a GMV of €14.6 billion in 2023 (previous year: €14.8 billion, forecast: €14.7 billion), sales of €10.1 billion (previous year: €10.34 billion, analyst forecast: €10.2 billion), EBIT (adjusted) of €349.9 million (previous year: €184.6 million, forecast: €280.2 million) and net profit of €83 million (previous year: €16.8 million, forecast: €98.55 million). The company's outlook for the period up to 2028 sees average sales growth of 5% to 10% and and GMV growth of +5% to +10% per year on average. For 2024, Zalando expects GMV growth of 0% to 5% (forecast: €15.3 billion), sales growth of 0% to 5% (forecast: €10.5 billion) and EBIT (adjusted) of €380 to €450 million (forecast: €381.2 million). In 2028, Zalando expects an EBIT margin (adjusted) of 6% to 8%.

$KCO (-2,66%)
Klöckner achieves sales of €7.0 billion in 2023 (previous year: €8.3 billion, analyst forecast: €7.65 billion), EBITDA (adjusted) of €190 million (previous year: €355 million, company forecast: €170 to €200 million) and a net result of -€190 million. The dividend per share of €0.20 (previous year: €0.40, analyst forecast: €0.15) amounts to. In the outlook for the first quarter, the company expects an increase in adjusted EBITDA of €30 to €70 million compared to the previous quarter. In the outlook for 2024, Klöckner expects a "significant increase" in adjusted EBITDA compared to the previous year.

$FRA (+2,15%)
Fraport 3.9 million passengers in Frankfurt in February, +12.9% compared to the previous year; -15% compared to February 2019. Cargo Frankfurt at 153,473 metric tons, +4.7% compared to the previous year.

$VOW (-2,5%)
Volkswagen-Group achieves sales of €322.3 billion in 2023 (previous year: +15.5%), operating profit of €22.6 billion (previous year: +2%) and profit after tax of €17.9 billion (previous year: +13%, €15.8 billion). The dividend for 2023 is expected to amount to €9.06 per preference share.

$MOR
Morphosys generated sales of €238.3 million in 2023 (previous year: €278.3 million) and posted a loss of €189.7 million (previous year: -€151.1 million). Operating result of EUR -252.5 million in 2023 after EUR -220.7 million in the previous year Takeover by $NOVN Novartis expected to continue in the first half of 2024. The process is progressing steadily. Monjuvi sales at 85.0 million euros (previous year 84.9 million).

Economic data for today:

10:30

• DE: ECB Director Elderson, speech at the European Banking Federation Executive Committee meeting

12:00

• EU: ECB Director Schnabel, speech at ECB Money Market Contact Group meeting

13:30

• US: Retail Sales February FORECAST: +0.8% yoy previous: -0.8% yoy Retail Sales ex Motor Vehicles FORECAST: +0.4% yoy previous: -0.6% yoy
• US: Initial jobless claims (week) FORECAST: 218,000 previous: 217,000
• US: Producer Prices February PROGNOSE: +0.3% yoy previous: +0.3% yoy Core rate (excluding food and energy) PROGNOSE: +0.2% yoy previous: +0.5% yoy

15:00

• US: Inventories January FORECAST: +0.2% yoy previous: +0.4% yoy

Quarterly figures / company dates USA / Asia

08:30 Foxconn quarterly figures

21:05 Adobe quarterly figures

Quarterly figures / company dates Europe

07:00 K+S | Lanxess | RWE | Vitesco | Hamborner Reit

07:00 Meyer Burger | Swiss Life Annual results

07:10 Elmos Semiconductor detailed annual results

07:30 Rheinmetall | Hapag-Lloyd annual results

07:30 SAF-Holland

08:00 DFV Deutsche Familienversicherung

08:00 RTL Group

08:00 Verbund AG | Deliveroo

09:00 RTL Group PK

09:30 Lanxess BI-PK

10:00 RWE BI-PK

10:30 K+S BI-PK

13:00 Morphosys telephone press conference

13:00 RWE Analyst Conference

13:30 K+S Analyst Conference

Without time information:

Deutsche Bank | DWS Group | Munich Re | Teamviewer | Bilfinger Annual Report | Schott Pharma AGM

#zinsen
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#zalando
#adobe
#rwe
#munichre

Zalando $ZAL (+1,5%) up double digits after good figures and positive outlook. Anyone invested here? https://www.handelsblatt.com/unternehmen/handel-konsumgueter/onlinehandel-zalando-will-sich-neu-erfinden-und-dafuer-auch-zukaufen/100020545.html