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LVMH 3Q Sales Rose at Steady Pace

LVMH Moet Hennessy (+0.35%) Louis Vuitton SE’s third-quarter sales rose at the same rate seen earlier in the year, driven by Asia and the United States. Sales for the three months to the end of September came to 15.51 billion euros ($17.92 billion), 11% higher than in the same period of pre-pandemic 2019, the French luxury-goods group said Tuesday. The increase is the same booked in the first half of the year. Analysts had expected sales of EUR15.38 billion, according to a FactSet-compiled consensus.

13.10.2021

Emerson Plans to Merge Industrial-Software Businesses With AspenTech

Emerson Electric Co. (-2.6%) plans to merge two of its software businesses with Aspen Technology Inc. (+12.3%) in a roughly $11 billion deal aimed at capturing growing demand for industrial technology. The cash-and-stock transaction would value AspenTech, as the company is known, at around $160 a share, officials from the companies said. AspenTech's shareholders would receive $87 and 0.42 share of the combined company for each share they currently own. The transaction is expected to be announced Monday.

12.10.2021

Tesla celebrates its first European factory in Berlin

Tesla's chief executive (-1.2% on Wall Street), Elon Musk, ruled out paying a dividend in the near future on Thursday. "We are not short of things to invest in internally, far from it," said the head of the American manufacturer of electric cars, who also confirmed his plan to move his headquarters in Austin. Tesla's future "gigafactory", the first in Europe, was inaugurated on Saturday, hoping to deliver its first electric cars in December.

11.10.2021

Eni Backs Separate Listing of Retail, Renewables Business

Eni SpA has opted to list its newly merged retail-and-renewables business next year, as it seeks to maximize the value of its lower carbon operations. The Italian oil-and-gas major said Thursday that it has approved the launch of a process for an initial public offering, which it expects to complete next year. "We have committed to being a leader in producing and selling completely decarbonized products and an IPO of Eni's Retail & Renewables business is an important step towards this goal," said Eni Chief Executive Claudio Descalzi.

08.10.2021

GM Sets Ambitious Revenue Target, Challenges Tesla

General Motors Co., riding a wave of investor enthusiasm for its electric-vehicle plans, set one of its most ambitious financial targets in years Wednesday, telling investors it aims to more than double revenue by 2030. The Detroit auto maker also took direct aim at Tesla Inc., saying it plans to take the lead in electric-vehicle sales in the U.S., without pegging a timetable. GM executives outlined their longer-term goals ahead of a daylong event for investors and analysts at GM’s research center in suburban Detroit.

07.10.2021

PepsiCo 3Q Revenue Rises, Profit Falls

PepsiCo Inc. said its revenue rose for the recent quarter, though profit fell, while it navigates a volatile supply-chain and cost environment. The food-and-beverage company on Tuesday posted net income attributable to the company of $2.22 billion for the fiscal third quarter, compared with $2.29 billion in the same period last year. Earnings were $1.60 a share, compared with $1.65 a share in the prior year. Adjusted earnings were $1.79 a share. Analysts polled by FactSet were expecting $1.73 a share.

06.10.2021

Volvo Cars Announces IPO Plan That Could Value It at $25 Billion

Volvo Cars, the Swedish auto maker owned by China’s Zhejiang Geely Holding, said Monday it would proceed with an initial public offering in Stockholm, in a deal that people familiar with the matter say could value it at upward of $25 billion. Volvo said it aims to raise about 25 billion kronor, equivalent to $2.86 billion, from the issue of new shares. Geely could also sell an unspecified number of its shares. Volvo didn’t provide a target valuation of the entire company following any IPO, or say what percentage stake Geely would retain. Geely has previously indicated it would likely remain a major shareholder after any offering.

05.10.2021

Themes Trading

EU Recovery

European consumers living la dolce vita and supporting global economic recovery

05.10.2021

Evergrande Property Shares Halted Pending Offer for Company

Evergrande Property Services Group Ltd. said it expects to announce a possible offer for the company, a move that would ease some of the financial constraints being faced by its parent China Evergrande Group. Both the companies had sought a trading halt early Monday in Hong Kong pending the release of an announcement. In a second filing midday, Evergrande Property said the announcement “constitutes an inside information and a possible general offer for the shares of the company.” Both the companies didn’t identify who the offerer was nor provided any further details.

04.10.2021