Deck Cleared? Kevin Plank Rebases Sales/EPS In His First Call Back As ...

Credit Morning 05/14/2024

Iliad prices € 150m and $ 200m taps on the new Iliad Holding 2031 bonds Grifols: S&P confirms the B corporate rating with a stable outlook (vs. B/cw negative) Delivery Hero: sale of foodpanda to Uber for $ 950m + capital increase of € 300m>...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/05/2024

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ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/14/2024

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Bayer : FY guidance confirmed after solid Q1 results – Pharma better, ...

>EBITDA decline less pronounced than feared - At a group level, Bayer’s Q1 sales of € 13.8bn (-4.3%), was below our (€ 14.0bn) and the consensus estimates (€ 14.1bn), the group’s EBITDA of € 4,412m (-1.3%) came in stronger than we expected (€ 4,188m) and was 6.4% above the consensus. The group’s EBITDA decline vs Q1 2023 was driven by the Crop Science divisions, where a decrease in glyphosate-based herbicides and cost inflation weighed on earnings. On the back of the ...

Morning Crédit 14/05/2024

Iliad abonde les obligations Iliad Holding 2031 à hauteur de 150 m EUR et 200 m USD Grifols : S&P confirme le rating corporate B avec une perspective stable (vs. B/cw negative) Delivery Hero : cession de foodpanda à Uber pour 950 m USD + augmentation de capital réservée de 300 m USD>...

BAYER: RDOS. 1T’24 (ANÁLISIS BANCO SABADELL)

Rdos. 1T'24 vs 1T'23: Ventas: 13.765 M euros (-4,3% vs -3,2% BS(e) y -2,1% consenso); EBITDA: 4.412 M euros (-1,3% vs -10,6% BS(e) y -7,2% consenso).

INFORME DIARIO 14 MAYO + RDOS. ESPAÑA Y EUROPA 1T’24. PREVIEWS (ANÁLIS...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, COLONIAL, FERROVIAL, GRIFOLS, LOGISTA, NH HOTELES, UNICAJA. EUROPA: BAYER. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. Jornada de transición en las bolsas En una sesión sin referencias macroeconómicas y con la campaña de resultados com...

Just Kickin' It, Monthly Sneaker Tracker, May'24 Edition

Adidas AG: 1 director

A director at Adidas AG sold 3,536 shares at 224.302EUR and the significance rating of the trade was 70/100. 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 showi...

On the shelves now: Consumer weekly #27

In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we take a look at the Q1 earnings season in the US, which is set to be a good vintag

adidas: The best sunny terrace in sporting goods currently...

During the conference call, management tried to maintain a subtle equilibrium between presenting stronger-than-expected Q1 results and tempering somewhat analysts' optimism for FY24, as evidenced by a CSS estimate (EUR1.02bn) already standing well above ADS' revised guidance of "around EUR700m". We

Bjorn Gulden Must Be Dancing The "Samba" As Brand Heat Continues To Bu...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/30/2024

BHP's bid for Anglo American has confirmed interest from miners in copper in the context of increasingly challenged production and difficulties in fully completing projects. Anglo’s (Neutral) prospects in copper are now better valued and this is also the case for BHP (Neutral vs Underperform) although not so for Rio Tinto (Outperform vs Neutral). Downstream, Nexans and Montana Aerospace are our Top Picks (Outperform) vs Aurubis, Rexel and Prysmian (Neutral). - ...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/04/2024

L’offre de BHP sur Anglo American a confirmé l’intérêt des minières pour le cuivre dans un contexte de tensions croissantes sur la production et de difficultés à faire aboutir les projets. Les perspectives d’Anglo (Neutre) dans le cuivre sont désormais mieux valorisées, c’est aussi le cas de BHP (Neutre vs Sous-performance) mais pas encore assez, selon nous, sur Rio Tinto (Surperformance vs Neutre). En aval, Nexans et Montana Aerospace sont nos valeurs préférées (Surperformance) vs Au...

Adidas : Final Q1 in line with prelims, outlook confirmed

>Europe strong, North America still down - Today, adidas gave final Q1 2024 numbers after the pre-release mid-April. Q1 sales grew 8% excluding FX with 5% underlying growth and 3% from Yeezy. Regions: North America improved sequentially but was still down 4% on lower sell-in to wholesale. Europe was very strong with +14% and China with +8% did OK supported by wholesale and e-com. Segments: footwear grew 13% thanks to lifestyle (terrace was mentioned) and football whil...

INFORME DIARIO 30 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADA...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAIXABANK, SANTANDER. EUROPA: ADIDAS, MERCEDES BENZ GROUP, VINCI. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. El Ibex se aleja de máximos Las bolsas europeas comenzaron la semana de la Fed (miércoles) con ligeras pérdidas y caídas de las re...

ODDO : Olympic Games and Euro 2024: a limited economic impact but an o...

In the run-up to the 2024 Summer Olympic Games and Euro 2024 football tournament, we have identified six stocks to favour: JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield and easyJet. While these two major sporting events are not expected to have a significant impact on the host economies in the medium term, the microeconomic and sectoral impacts should be more marked. The tourism, transport, beverages and consumer goods sectors are expected to be the main winners. Som...

ODDO : Jeux Olympiques et Euro 2024 : un impact économique limité mais...

En amont des Jeux Olympiques d’été et de l’Euro de football 2024, nous identifions 6 valeurs à privilégier  : JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield et easyJet. Alors que ces deux évènements sportifs majeurs ne devraient pas avoir d’impact significatif sur les économies hôtes à moyen terme, les impacts microéconomiques et sectoriels devraient être plus marqués. Les secteurs du tourisme, des transports, des boissons et des biens de consommation devraient être l...

On the shelves now: Consumer Weekly #25

In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we comment on resilient US activity from the perspective of a healthy Logistics Mana