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/yU_UfNQy7OQ?feature=shared

Sunday:

Another crypto theft occurred, this time probably the biggest ever. 1.5 billion dollars were stolen from the crypto exchange Bybit. Although the blockchain is considered secure, access to the individual wallets in which the cryptos are stored is not. As a result, there was a 'bank run' on the exchange as investors lost confidence and withdrew their money.

https://www.handelsblatt.com/finanzen/maerkte/devisen-rohstoffe/krypto-milliarden-diebstahl-schockt-krypto-markt/100109251.html

Monday:

No tailwind for the new federal government in Germany, the ifo business climate index is stagnating. The economy therefore remains a major construction site and urgent action is needed.

https://www.handelsblatt.com/politik/konjunktur/konjunktur-ifo-geschaeftsklima-stagniert-deutsche-wirtschaft-wartet-ab/100109446.html

Tuesday:

Fuel cell specialist$F3C (-11,16%) FC Energy is also forecasting double-digit growth for 2025. In 2024, the company achieved the upper end of the forecast for sales growth (+22.5%). Adjusted EBITDA grew to 22 million euros, exceeding the forecast.

https://www.finanzen.net/nachricht/aktien/auf-wachstumskurs-sfc-energy-aktie-sfc-energy-rechnet-mit-anhaltendem-wachstum-14267631

Wednesday:

Deutsche Telekom $DTE (-4,46%) Deutsche Telekom is on a record course but falls short of the expectations of some analysts. Sales rose by 3.4 % to 115.77 billion euros, the dividend is to rise to 90 cents per share. The development of the US subsidiary remains decisive for Deutsche Telekom.

https://www.handelsblatt.com/technik/it-internet/deutsche-telekom-setzt-nach-rekordjahr-2024-auf-weiteres-wachstum/100108104.html

e.on $EOAN (-6,15%) is convincing in terms of figures, even if the results here were slightly below the previous year's figures. EBITDA is expected to increase by 6-9% in 2025. The CEO of e.on expects the new German government to finally implement an efficient energy transition instead of adhering to expansion targets at all costs. The dividend is to rise to 55 cents per share.

https://www.waz.de/wirtschaft/article408409404/stromriese-eon-verdient-trotz-rezession-erneut-milliarden.html

Thursday:

$SIX2 (-6,59%) Sixt, the car rental company, presents record sales figures. Turnover increased by 10.5% to 4 billion euros. The US business in particular is doing well. Profits fall slightly due to falling used car prices. The dividend is to rise to 2.70 per share. Sales growth of 5 - 10 % is also planned for the coming year.

https://www.boerse.de/nachrichten/EQS-News-SIXT-durchbricht-erstmals-die-Vier-Milliarden-Umsatzmarke-Drittes-Rekordjahr-in-Folge/37085370

Also $KGX (-13,09%) Kion is planning to increase its dividend from 0.70 to 0.82 euros per share. Turnover is expected to stagnate in 2025 and amount to 10.9 - 11.7 billion euros. In 2024 it was 11.5 billion euros.

https://www.finanzen.net/nachricht/aktien/ausblick-vorsichtig-kion-aktie-mit-aufschlaegen-hoehere-dividende-nach-gewinnzuwachs-geplant-14275807

GDP growth in the USA falls to a growth rate of 2.3% in the 4th quarter. However, this is in line with expectations. Germany is a long way from 2.3 % growth. The country is in the longest recession phase in post-war history.

https://finance.yahoo.com/news/gdp-us-economy-grows-at-23-annualized-pace-in-fourth-quarter-matching-estimates-133216310.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEDHZnuC0vgU8t8P7RBXsPEgAWKgMPnwT-Drlsk8DdbuQHCNMXQ7A1RS54QADRKn60ZxSDZoUa_q_5Xoub7zQSzmycOPUkgkOlopnSzTIeKez9crAfvPN2tBrlZUdmJEpy_cgFrV-geZT0BuG_Rqr5_OMyPnvoiPClm6tDcy3OZ8

Friday:

The world's largest insurance group posts a bottom-line profit of 10 billion euros, up 10% on the previous year. Allianz $ALV (-8,43%) Allianz once again exceeds analysts' expectations and the dividend rises to €15.40 per share. At the same time, Allianz has been cutting back on life insurance benefits for years.

https://www.handelsblatt.com/finanzen/banken-versicherungen/versicherer/versicherer-allianz-erzielt-rekordgewinn-und-zahlt-mehr-dividende/100108025.html

Due to rising food prices, inflation in Germany remains at 2.3%. Next week there will be further inflation data from the EU, as well as a possible key interest rate cut by the ECB.

https://www.welt.de/wirtschaft/article255568962/Inflation-liegt-im-Februar-bei-2-3-Prozent-Nahrung-und-Dienstleistungen-werden-teurer.html

These are the most important dates for the coming week:

Monday: 11:00 Inflation data (EU)

Wednesday: 16:00 ISM data (USA)

Thursday: 14:15 Interest rate decision (EU)

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

#inflation
#usa
#ezb
#zinsentscheid

$SIX2 (-6,59%)

After a difficult previous year, car rental company Sixt is aiming for significant profit improvements in 2025.

Pre-tax earnings are expected to account for around ten percent of revenue, which is expected to grow by five to ten percent, as the Pullach-based company announced on Thursday.

On average, analysts had expected revenue growth in the lower half of this range, but had also hoped for a little more in terms of profitability.

Analyst Constantin Hesse from the investment bank Jefferies spoke of a solid fourth quarter for the car rental company.

However, pre-tax earnings fell slightly short of expectations.

The targets for 2025 are in line with expectations. Due to the below-average share price performance to date, he saw room for upside for the share.

For Baader Bank expert Christian Obst, Sixt has set itself somewhat higher growth targets for the new year than expected.

Discounts for car rental companies are likely to increase over the course of the year.

Losses on residual car values, on the other hand, should subside over the course of the year, and IT and personnel costs should also develop more favorably.

In general, Sixt is usually cautious in its forecasts.

Last year, Sixt increased its turnover by 10.5 percent to EUR 4.0 billion.

Sixt is expanding its business in the relatively new US market in particular.

In contrast, Sixt's pre-tax profit fell by 27.8 percent to EUR 335 million.

The pre-tax margin thus amounted to 8.4 percent.

The management intends to reduce the dividend per ordinary share to EUR 2.70 after EUR 3.90 a year earlier due to the decline in profits.

The decline in profits was mainly due to falling used car prices, which is why Sixt had to sell many cars after their useful life at unexpectedly low prices. Among other things, losses on electric cars weighed on the balance sheet.

The management is trying to reduce the residual value risk and has already achieved significant success in Europe.

In Sixt's growing US market, however, it is traditionally more common for the car rental company to also bear the value risk of the cars for the duration of their use.

Various analyst firms rate the share at between €100 and €135, which still leaves a lot of room for upside.

I myself am up around 30% and see further growth. Especially in the USA 👆🏼

It's a shame that the dividend is being cut, but I think it's a step in the right direction.

A few days before the Bundestag elections, Wall Street has discovered its special love for Europe and German second-line stocks. The small cap index MDaxwhich is usually overshadowed by the Dax, is suddenly enjoying a level of attention not seen for years. Several major Wall Street addresses have published analyses of the index of medium-sized companies almost simultaneously.

The MDax is considered to be one of the most undervalued indices in the Old World and this is precisely what makes it particularly attractive from Wall Street's perspective. The Bundestag elections are fueling this bet: if Germany manages to turn the economy around afterwards, the MDax could benefit disproportionately.

Around a third of the MDax companies' business is attributable to the domestic market. Accordingly, the local misery has weighed much more heavily on the index. By contrast, the index has not yet priced in the economic policy stimuli that could arise after the election.

Possible beneficiaries are (examples):

Through lower energy costs:

$WCH (-7,57%) | $LXS (-9,26%) | $GBF (-13,52%)

Improved consumer sentiment:

$CTS (-0,89%) | $BOSS (-2,48%) | $SIX2 (-6,59%)

Suitable funds could be

$EXID (-6,57%) | $MD4X (-6,32%)

Source (excerpts) & graphic:

WELT editorial team "Alles auf Aktien"

Hello everyone,

My current portfolio was completely reorganized after the takeover of $COP (-1,79%) at the end/beginning of the year. I have reinvested almost all of the liquidity freed up as a result in small-mid caps. I also see further potential here in the coming years due to more flexible adaptability (with regard to the USA) and financing costs. At the beginning of the year $SESG (-0,98%)
$NA9 (-1,74%)
$TNIE (-2,5%)
$KTN (-8,56%)
$ALCRB (-15,77%)
$DSFIR (-1,41%) made it into my portfolio. Today, I swapped the pipe burner $P911 (-4,36%) in $MUM (-2,51%) . My next idea would be $SIX2 (-6,59%) I would like to hear what else you have on your watchlist in this segment.

Greetings

Micha

Apple business grows despite decline in iPhone + Intel misses expectations with sales forecast + Labor market data for DE/USA + Sixt AG retrospectively on yesterday's Drop&Rebound

Apple $AAPL (-6,8%)grows despite iPhone decline

• Apple has closed the important Christmas quarter with an increase in sales despite a decline in the iPhone business.
• Growth in Mac computers, iPads and the services business more than compensated for the iPhone decline.
• On balance, Apple increased its quarterly profit by seven percent to 36.3 billion dollars (34.8 billion euros), as the company announced on Thursday after the close of the US stock exchange.
• iPhone sales fell from 69.7 billion dollars in the same quarter last year to 69.14 billion dollars.
• Analysts had expected an average of around 71 billion dollars.
• Apple is placing a special focus on artificial intelligence in the new iPhone generation presented in the fall.
• However, the new functions will only be introduced gradually.
• In Europe, many of them will not reach users until April.
• The Mac business, on the other hand, performed significantly better than Wall Street had expected.
• Turnover rose from 7.8 to 8.99 billion US dollars.
• Analysts had expected just under eight billion dollars.
• There was also a significant increase in iPad sales from seven to a good eight billion dollars.
• The service business with revenues from the App Store and Apple's subscription offers, among others, grew from 23.1 billion dollars a year ago to 26.34 billion dollars.
• Overall, Group sales increased by four percent to a record 124.3 billion dollars.
• Apple shares traded slightly down at times in US after-hours trading.
• In addition to the decline in iPhone sales, this could also have been triggered by the slowdown in business in the China region.
• Turnover there fell by eleven percent to 18.5 billion dollars and fell short of analysts' expectations.
• Apple is facing more competition from Chinese smartphone providers in this huge market.

Intel $INTC (-10,9%)misses expectations with sales forecast

• The struggling semiconductor giant Intel is preparing the stock market for continued difficult business.
• The sales forecast for the current quarter fell short of analysts' expectations.
• Intel is still looking for a new boss after the departure of long-time CEO Pat Gelsinger in December.
• For the current quarter, Intel forecast revenues of between 11.7 and 12.7 billion dollars on Thursday after the close of the US stock exchange.
• Analysts had expected an average of around 12.9 billion dollars.
• In the previous quarter, sales fell by seven percent to 14.3 billion dollars.
• However, Intel hit the upper end of its own forecast and beat analysts' expectations.
• The share price rose by a good two percent in US after-hours trading.
• On the bottom line, Intel posted a loss of 126 million dollars in the last quarter after a profit of 2.67 billion dollars a year earlier.
• Intel once dominated the semiconductor market, but has been struggling with problems for years.
• Graphics card specialist Nvidia has conquered a leading position, particularly in the business with chips for artificial intelligence.
• Intel is also under greater pressure in its traditional business with PC processors and chips for data centers.

Investor places Sixt shares $SIX2 (-6,59%)for around 50 million euros

• A major investor sells 600,000 Sixt shares worth almost EUR 50 million.
• The placement thus comprises almost two percent of Sixt's ordinary shares.
• A major investor is placing Sixt shares worth almost EUR 50 million on the market.
• Deutsche Bank, which was entrusted with the placement, announced on Thursday evening that an institutional investor is offering a good 600,000 Sixt ordinary shares, which are to be placed with other investors overnight.
• The name of the seller was not disclosed.
• At Thursday's Xetra closing price, the Sixt share package is worth EUR 49 million, but the shares are normally sold at a discount.
• The placement comprises just under two percent of Sixt's ordinary shares, which are majority-owned by the Sixt family.

Friday: Stock market dates, economic data, quarterly figures

Stock exchange holiday China and Hong Kong

• ex-dividend of individual stocks
• Texas Instruments USD 1.36

• Quarterly figures / company dates USA / Asia
• 02:00 Samsung Electronics full year results
• 12:30 Exxon Mobil quarterly figures
• 12:45 Chevron quarterly figures
• 13:45 Abbvie quarterly figures
• 14:30 Colgate-Palmolive quarterly figures

• Quarterly figures / Company dates Europe
• 07:00 Novartis annual results
• 07:30 Atoss Software preliminary annual results
• 10:00 Thyssenkrupp AGM

• economic data

08:00 DE: Retail sales December and year 2024 seasonally adjusted real FORECAST: +0.6% yoy previous: -0.1% yoy

08:45 FR: Consumer prices (preliminary) January PROGNOSE: 0.0% yoy/+1.5% yoy previously: +0.2% yoy/+1.3% yoy HICP PROGNOSE: 0.0% yoy/+1.9% yoy previously: +0.2% yoy/+1.8% yoy

09:55 DE: Labor market data January seasonally adjusted unemployment rate FORECAST: +15,000 yoy previous: +10,000 yoy Unemployment rate seasonally adjusted FORECAST: 6.2% previous: 6.1%

14:00 DE: Consumer prices (preliminary) January PROGNOSE: +0.2% yoy/+2.7% yoy previous: +0.5% yoy/+2.6% yoy HICP PROGNOSE: -0.1% yoy/+2.9% yoy previous: +0.7% yoy/+2.8% yoy

14:30 US: Labor Cost Index 4Q FORECAST: +0.9% yoy Q3: +0.8% yoy yoy

14:30 US: Personal Spending and Income December Spending / Income PROGNOSE: +0.6% yoy/+0.4% yoy previous: +0.4% yoy/+0.3% yoy PCE Price Index / Total Rate PROGNOSE: +0.3% yoy/+2.6% yoy previous: +0.1% yoy/+2.4% yoy PCE price index / core rate PROGNOSE: +0.2% yoy/+2.8% yoy PREVIOUS: +0.1% yoy/+2.8% yoy

15:45 US: Chicago Purchasing Managers Index January FORECAST: 41.0 previous: 36.9

$SIX2 (-6,59%)

A major investor is placing Sixt shares worth almost EUR 50 million on the market.

Deutsche Bank, which was entrusted with the placement, announced on Thursday evening that an institutional investor is offering a good 600,000 Sixt ordinary shares, which are to be placed with other investors overnight. The name of the seller was not disclosed. At Thursday's Xetra closing price, the Sixt share package is worth EUR 49 million, but the shares are normally sold at a discount. The placement comprises just under two percent of Sixt's ordinary shares, which are majority-owned by the Sixt family.

During my first year of investing, I bought a lot of shares that I didn't really understand what they were doing. In the course of my restructuring, I would like to reduce my number of shares from almost 30 to 15 in the long term. However, I want to do this over a longer period of time, as these are not bad companies.

Shares that I want to sell

Apple $AAPL (-6,8%)
Medpace $MEDP (-7%)
ResMed $RMD (-3,06%)
Shimano $7309 (+3,04%)
LVMH $MC (-4,14%)
Genmab $GMAB (-3,73%)
Pernod Ricard $RI (-3,46%)
Pilbara Minerals $PLS (-10,38%)
Sixt $SIX2 (-6,59%)
McDonald's $MCD (-4,77%)
Domino's Pizza $DPZ (-4,39%)
Crowdstrike $CRWD (-5,76%)
Salesforce $CRM (-5,08%)
Nvidia $NVDA (-7,25%)

Just to clarify, I am not selling these companies because they are bad companies, but because they no longer fit into my investment strategy. I will only invest in companies that are not included in the classic world ETFs, but which I nevertheless understand well.

My question would be what you generally think of this and in which order you would sell the companies listed (as they are listed, this is my preferred order)

Sixt SE $SIX2 (-6,59%) has successfully placed a corporate bond with a total volume of EUR 500 million with international investors.

With an order book that was more than four times oversubscribed at its peak, the benchmark issue met with extraordinarily high demand from institutional investors in Germany and abroad.

The bond with a term of 5 years has a coupon of 3.25%, which corresponds to an improvement of 0.50% compared to the last bond a year ago (coupon: 3.75%).

The successful issue underlines the international car rental company's strong market position and the high level of confidence investors have in the company's financial stability and growth strategy.

The proceeds from the bond will be used to finance further growth, in particular the expansion of the vehicle fleet.

• Strong international investor interest: Order book exceeds EUR 2 billion, repeatedly more than four times oversubscribed at peak.

• Top conditions: Bond with 3.25% coupon finances further growth of SIXT.

• Dr. Franz Weinberger, CFO of Sixt SE: "The strong oversubscription of the order book and the lowest spread in the company's history for a bond show that our business model and our consistent focus on profitable growth are highly appreciated by the capital market."

2024

Portfolio value (performance neutral)

Target 52 000€ -> +18 000€

Achieved 62 300€ -> +28 300€

Target 2025 -> 77 000€

Gross dividend

Target 1000€

Achieved 1018€

expected 2025 -> 1290€+

Daily allowance

Target 12 000€

Reached 13 300€

I would like to reach €15,000 by the end of 2025.

As I have an annual commute of 22,000 km, I'll have to buy a new car in 4 - 5 years' time if my current one no longer works.

In addition, several positions were sold in Q3 - Q4 ($O (-2,42%)
$BATS (-4,36%)
$SIX2 (-6,59%)
$ARCC (-5,64%)
$CVS (-4,46%)
$UNP (-3,99%)$NESN (-3,88%) ) and the focus was also placed on higher growth and dividend growth.

In principle, I have nothing against $UNP (-3,99%) but I see the growth opportunities at $CP (+0,78%) higher as well as a higher profit margin as soon as the acquisition of Kansas City has been optimally integrated into the company in order to work more efficiently.

Analyst updates, 21.11.

⬆️⬆️⬆️

- BERNSTEIN RAISES TARGET FOR NVIDIA TO USD 175 (155) - 'OUTPERFORM' $NVDA (-7,25%)

- JPMORGAN RAISES TARGET FOR NVIDIA TO 170 (155) USD - 'OVERWEIGHT' $NVDA (-7,25%)

- EVERCORE ISI RAISES TARGET FOR NVIDIA TO 190 (189) USD - 'OUTPERFORM' $NVDA (-7,25%)

- JEFFERIES RAISES TARGET FOR SIXT STEMS TO EUR 110 (100) - 'BUY' $SIX2 (-6,59%)

- DEUTSCHE BANK RESEARCH RAISES RHEINMETALL TO 'BUY' (HOLD) - TARGET 700 (550) EUR $RHM (-10,98%)

- BARCLAYS RAISES TARGET FOR FRESENIUS SE TO EUR 40 (38) - 'OVERWEIGHT' $FRE (-4,88%)

- WARBURG RESEARCH raises the target price for ALSTRIA OFFICE from EUR 3.40 to EUR 7.10. Hold. $AOX (-0,55%)

- BERNSTEIN raises the price target for ESSILORLUXOTTICA from EUR 194 to EUR 200. Market-Perform. $EL (-4,31%)

⬇️⬇️⬇️

- DEUTSCHE BANK RESEARCH lowers the price target for NESTLE from CHF 87 to CHF 85. Hold. $NESN (-3,88%)

- DEUTSCHE BANK RESEARCH lowers the price target for MEDIOS from EUR 23 to EUR 18. Buy. $ILM1 (-4,74%)

- ODDO BHF lowers the price target for GRENKE from EUR 27.30 to EUR 18.30. Neutral. $GLJ (-4,51%)

- BERNSTEIN lowers the price target for KERING from EUR 260 to EUR 220. Market Perform. $KER (-6,24%)

- BERNSTEIN lowers the price target for LVMH from EUR 795 to EUR 700. Outperform. $MC (-4,14%)

- BERNSTEIN lowers the price target for VESTAS from DKK 250 to DKK 215. Outperform. $VWS (-10,01%)

- JEFFERIES lowers the price target for SMA SOLAR from EUR 19 to EUR 14. Hold. $S92 (-5,01%)

- JEFFERIES lowers the price target for VERBIO from EUR 27 to EUR 22. Buy. $VBK (-5,89%)

- JEFFERIES lowers the price target for PVA TEPLA from EUR 14.50 to EUR 12. Hold. $TPE (-10,41%)

- HSBC downgrades TARGET to Hold. Target price USD 138. $TGT (+1,89%)

- UBS lowers the price target for BAYER from EUR 30 to EUR 22. Neutral. $BAYN (-6,12%)