Leifheit AG : Leifheit resolved share buyback programme with a total v...

>Announcement of share buyback programme - According to the press release from 2 May 2024, the board of management of Leifheit resolved with the approval of the supervisory board a share buyback programme with a total volume of up to € 8.5m (excl. transaction costs) and with an expected term from 13 May 2024 until 11 December 2024. The board of management is making use of the authorisation granted by the AGM on 30 September 2020, to acquire treasury shares of the comp...

Miss in seasonally slow quarter

2% adj. EBITA miss on lower org. sales

Santander : A robust start to 2024 and guidance confirmed

>Outperform rating maintained - Target price raised to € 5.5 (vs € 5.4) - Santander’s Q1 2024 results underpin our Outperform rating and lead us to increase our net profit estimates (+2% on average over the period 2024-2026e), due to a slightly more favourable stance on the top line trend. Our target price has thus been lifted to € 5.5 (vs € 5.4). The trend in the group’s operating performances remains broadly solid with the validation of the main financial targets se...

Royal BAM Group : Q1 2024 a soft quarter but investment case stands

>Lowering 2024 estimates, 2025-2026 unchanged, investment case stands - We maintain our Outperform rating and price target after the mixed/disappointing Q1 2024 results. We lower our 2024 adj. EBITDA by 6% (adj. EBITDA margin 4.6% instead of 4.8%) but keep our 2025 and 2026 largely unchanged. Despite the disappointment over the Q1 profitability levels, our investment case stands with slowly but surely improving operational and financial performance as the old lower ma...

Allianz : Solid operating profit expected in Q1 2024

>We are forecasting Q1 2024 operating profit of € 3.9bn - Allianz is due to report its Q1 2024 results on 15 May. We are forecasting operating profit of € 3,886m (+4.2%), in line with the consensus (€ 3,897m, +4.4%e). Q1 operating profit should, in our view, confirm the fact that Allianz should report a full-year operating profit at the upper end of the guidance range (€ 14.8bn, +/- € 1bn, bearing in mind that 1/4 of the average point of the target range is equivalent...

Dassault Systemes : 3DExperience should drive the acceleration in grow...

>A reasonably optimistic tone on Medidata - As expected, a significant part of the discussions with the CFO during this roadshow focused on the difficulties of Medidata (15% of Group sales). In Q2, the Medidata growth trend should be in line with Q1 (-2.5% cc). That said, Dassault Systèmes’ management sees signs of improvement on the commercial front: i/ bookings linked to the volume of clinical trials are up slightly; ii/ demand at mid-sized clients is stabilising an...

7% EBITDA beat in Q1

Linde plc : Soft FY 2024 and Q2 outlook leaving no upside to consensus...

>Q1 adj. EPS & adj. EBIT were 2% ahead of consensus, volumes down 1% y-o-y - Linde reported Q1 2024 adj. EPS increase of 10% y-o-y to $ 3.75 (+4% q-o-q), exceeding the upper end of previously provided Q1 2024 company guidance ($ 3.58-$ 3.68). Sales decreased by 1% y-o-y to $ 8.1bn in Q1 2024 in the wake of lower volumes (-1% y-o-y), while price/mix (+2% y-o-y) only offset the headwind from energy price pass-through (-2%). Food & Beverage (+6% y-o-y sales growth) and C...

Strategy - Alpha Picks: A Softer Month; Add FEHT, MPACT, GENS; Remove ...

For Apr 24, our Alpha Picks portfolio rose 0.4% mom on an equal-weighted basis, underperforming the STI slightly by 1.7ppt. It was a mixed performance from our portfolio with the top performers being MPM, BAL and CD while FRKN, LREIT and ST underperformed. Our Alpha Picks portfolio has outperformed the STI in three out of the past four months. For May 24, we add FEHT, MPACT, GENS; remove BAL, LREIT and CLAS.

Skyworks Solutions Inc: 1 director

A director at Skyworks Solutions Inc bought 11,142 shares at 90.000USD and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two year...

Umb Financial Corp: 1 director

A director at Umb Financial Corp sold 16,200 shares at 80.223USD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clea...

SY Co Ltd: 1 director

A director at SY Co Ltd sold 22,000 shares at 4,655.000KRW and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...

Tejas Networks Ltd: 7 directors

Seven Directors at Tejas Networks Ltd sold 48,700 shares at between 1,025.241INR and 1,082.947INR. The significance rating of the trade was 50/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's director...

Valeo: 1 director

A director at Valeo bought 6,150 shares at 12.054EUR and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing ...

Dassault Systèmes : La 3DExperience va tirer l’accélération de la croi...

>Ton raisonnablement optimiste concernant Medidata - Comme attendu, une part importante des discussions avec le CFO lors de ce roadshow a porté sur les difficultés de Medidata (15% CA groupe). La croissance T2 de Medidata devrait s’inscrire dans la lignée du T1 (-2.5% cc). Néanmoins, le management de DSY voit quelques signes d’amélioration sur le plan commercial : 1/ les bookings liés aux volumes d’essais cliniques sont en légère croissance ; 2/ la demande auprès des ...