Volkswagen and IG Metall have reached a significant agreement to cut over 35,000 jobs by 2030, ensuring that no sites will be closed down. This deal marks a historic negotiation milestone amid ongoing discussions about the influence of EU regulations on national laws.
MicroStrategy's Michael Saylor advocates for Bitcoin as a corporate treasury asset, increasing holdings to 439,000 BTC, despite criticism labeling the business model a "giant scam." Other companies like Marathon Digital and Genius Group are adopting similar strategies, while Microsoft remains skeptical. Shareholder proposals at Amazon push for Bitcoin's inclusion to combat inflation and enhance value.
Bitcoin has experienced significant volatility, recently hitting an all-time high before a 15% correction. A record $1.24 billion USDC inflow to spot exchanges indicates renewed interest, suggesting that whales may be positioning for a potential rebound. BTC's ability to hold above $92K is crucial, with a breakout above $100K needed to maintain bullish momentum; otherwise, a deeper correction could ensue.
UBS has maintained a Neutral rating on Sumitomo Corp, raising its target price slightly from JPY 3,490 to JPY 3,530, reflecting a minor adjustment in the price-to-book ratio. The firm acknowledges profit accumulation in key sectors like infrastructure and energy transformation but warns that stagnant earnings from troubled projects and political uncertainties may hinder cost of equity reduction. Investors are advised to monitor the company's strategic initiatives closely, as these will significantly impact return on equity and share valuation.
UBS has maintained a Neutral rating on Sumitomo Corp., raising the price target from JPY3,490 to JPY3,530, reflecting a slight adjustment in the company's price-to-book ratio. The firm highlights potential ROE growth from Sumitomo's core sectors, including infrastructure and energy transformation, but warns that stalled earnings from problematic projects and policy uncertainties may hinder stock valuation improvements. Investors are advised to closely monitor the company's strategic initiatives and their effects on financial performance.
UBS has maintained a Neutral rating on Sumitomo Corp., raising the price target from JPY3,490 to JPY3,530, reflecting a slight adjustment in the company's price-to-book ratio. The firm highlights potential ROE growth from Sumitomo's core sectors, including infrastructure and energy transformation, but warns of challenges from stalled projects and policy uncertainties that may hinder stock valuation. Investors are advised to closely monitor the company's strategic initiatives and their effects on financial performance.
UBS has lowered its price target for Toyota Industries to ¥14,600 from ¥16,600 while maintaining a Buy rating, citing a slower-than-expected recovery in forklift sales. The firm anticipates changes in the relationship between Toyota Motor and its suppliers by 2025, leading to a projected profit growth acceleration in the next 6 to 12 months. However, revised earnings forecasts indicate a 5% decrease in estimated EPS for the fiscal year ending March 2025 and a 2% drop for the following year.
UBS has lowered its price target for Toyota Industries from ¥16,600 to ¥14,600 while maintaining a Buy rating, citing a delayed recovery in forklift sales and a revised outlook for near-term earnings. The firm anticipates a shift in supplier relationships by 2025, projecting profit growth in the next 6 to 12 months despite a 5% reduction in estimated earnings per share for the fiscal year ending March 2025.
UBS has noted a slow recovery in semiconductor end markets for VAT Group shares, indicating that there have been no significant gains in the first and second quarters. This trend suggests ongoing challenges within the sector that may impact future performance.
UBS has lowered its price target for VAT Group AG to CHF350 from CHF370, maintaining a Neutral stance due to a lack of near-term recovery in semiconductor capital expenditures. The firm notes flat or declining memory chip prices and anticipates no significant profit improvement in H1 2025, with a potential market recovery not expected before summer 2025. This cautious outlook reflects broader challenges in the semiconductor industry, impacting VAT Group's financial performance.
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