Corporate Digests – The News Desk

14Dec

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ESG Roundup: Market Talk – WSJ

Updated Dec. 14, 2023 12:33 pm ETThe latest Market Talks covering ESG Impact Investing. Published exclusively on Dow Jones Newswires at 10:00 ET and 17:00 ET.0618 ET – China’s manufacturing costs for solar modules have fallen significantly in the last year, boosting the country’s competitiveness against Europe and the U.S., according to a Wood Mackenzie report. The cost of producing modules has fallen by 42% on year to $0.15 a watt in December, compared with $0.30 a watt in Europe and $0.40 a watt in the U.S., data from the consultancy group shows. “As the world’s solar module powerhouse, China commands 80% of global manufacturing capacity and this is being reflected in soaring domestic installations,” the report says. “This year its domestic solar additions will be double those of the U....

6Dec

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Basic Materials Roundup: Market Talk

Updated Dec. 6, 2023 5:15 pm ETThe latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1126 ET – Brenntag enacting major changes, like a break-up of its businesses, appears to be off the table until at least 2026, Jefferies analysts Chris Counihan and Charlie Bentley say in a research note. The German chemical company seemingly defers any potential business separation as it instead focuses on reorganizing its divisions. Starting from 1Q24, its pharma activities will be transferred to Brenntag’s specialties division whilst its water-treatment and finished-lubricants business will move to essentials. This results in essentials accounting for 70% of the group’s gross profit and specialties 30%, enabling Brenntag to be r...

Tech, Media & Telecom Roundup: Market Talk

30Nov

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Tech, Media & Telecom Roundup: Market Talk

The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0834 GMT – ASML Co-Presidents Peter Wennink and Martin van den Brink are set to retire upon completion of their current appointment terms, which creates some uncertainty, Citi analysts say in a note. However, Citi adds that it doesn’t anticipate any major change in ASML’s strategy or targets knowing that the Dutch semiconductor company has been preparing for such an event for some time, and with Christophe Fouquet—who has been at ASML for 15 years—assuming the role of president. Shares are down 1.21% at 53724.33 pence. ( najat.kantouar@wsj.com)Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 ...

28Nov

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Health Care Roundup: Market Talk

Updated Nov. 28, 2023 12:36 pm ETThe latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0835 ET – Oncoclínicas do Brasil Serviços Médicos has room to boost efficiency even in areas where it has been operating for years, say XP Investimentos analysts Rafael Barros and Raphael Elage in a research note after a meeting with key executives. The cancer clinic operator has a central pharmacy attached to one of its clinics in Rio de Janeiro, but it’s still not integrated with other operations in the city, so the company can still cut unitary costs even without negotiations with suppliers, XP says. Oncoclínicas’ superior relationship with doctors and insurance payors is an advantage, and XP sees the company’s stock as...

22Nov

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Basic Materials Roundup: Market Talk

Updated Nov. 22, 2023 4:55 pm ETThe latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1006 ET – The U.K. risks falling behind the EU and exposing itself to high-emission steel exports by failing to confirm a carbon border policy in its latest budget statement, industry chiefs say. While the EU is implementing its own so-called carbon border adjustment mechanism by 2026, the absence of a similar move by the U.K. could mean high-emission steel currently exported to the EU will be diverted to the U.K., industry trade body UK Steel says. “It’s disappointing that the Chancellor didn’t use his Autumn Statement to announce a U.K. CBAM and a timetable to implement it by 2026,” UK Steel Director General, Gareth Stace, write...

22Nov

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Tech, Media & Telecom Roundup: Market Talk

Updated Nov. 22, 2023 12:29 pm ETThe latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1123 ET — GoDaddy is a structurally differentiated, durably growing cash machine that should benefit from its hedged customer acquisition model, RBC analysts say in a research note. The online services platform could also gain outsized benefit as AI tools reduce customer acquisition friction, analysts say. “While ratings across our coverage assume a stable macro, there are very few companies in our universe that could actually hit 24’ estimates under incremental macro duress – we believe GoDaddy would be one.” RBC upgrades its recommendation on the stock to outperform from sector perform, lifts its 24’ estimates sli...

20Nov

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Auto & Transport Roundup: Market Talk

The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1321 ET – Nikola’s departing finance chief Anastasiya Pasterick is heading to another hydrogen-powered vehicle company. Universal Hydrogen, a private company developing hydrogen-powered aviation, announces it has hired Pasterick as CFO. Nikola has faced a flurry of executive changes this year and said in a regulatory filing Friday that Pasterick would resign after several months in the CFO role. Universal Hydrogen notes Pasterick’s prior involvement with Nikola’s SPAC merger which took the company public in 2020 and her experience helping with the IPO of nLIGHT. Nikola shares drop 3.9% to $1. (ben.glickman@wsj.com; @benglickman)Copyright ©2023 Dow ...

16Nov

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Tech, Media & Telecom Roundup: Market Talk

The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0844 GMT – As the AI hype triggers a rush to monetize the technology, iFlytek stands out as a potential winner in China, Nomura analysts say in a note. In other markets, AI model-as-a-service is popular and becoming a key revenue driver for public cloud platforms. But in China, Nomura thinks security and compliance concerns will spur robust demand for private and customized AI models and hardware that can be deployed within clients’ own data centers and clouds. iFlytek looks well placed to tap that growth as a first mover, having launched its “AI all-in-one machine” in August, Bing Duan and other analysts say. They reckon iFlytek is in talks with g...

15Nov

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Auto & Transport Roundup: Market Talk

Updated Nov. 15, 2023 1:25 pm ETThe latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1402 GMT – Canadian Pacific Kansas City chief marketing officer John Brooks says the intermodal business is challenged, and despite signs of an uptick, it will likely stay that way “for the foreseeable future.” Brooks, speaking at the Scotiabank Transportation and Industrials Conference, points to macro factors as drags, including broader geopolitical issues as well as the U.S. presidential election in 2024. He adds that CPKC will look to leverage its network to find solutions to broader problems. (adriano.marchese@wsj.com)Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1c...

9Nov

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Health Care Roundup: Market Talk

Updated Nov. 9, 2023 4:58 pm ETThe latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1605 ET – US stocks close lower, snapping the S&P 500 and Nasdaq indexes’ longest winning streak in two years. Treasury yields and oil prices recovered some of their recent losses and the dollar strengthened. Chair Powell says the Fed doesn’t want to raise rates too high. Seed and pesticides maker Corteva slides 8% following Wednesday’s announcement it was closing one of its chemical facilities and halting operations in others to cut costs. Becton Dickinson falls 9% after the medical-device maker reported 2024 sales and earnings outlook that were below analysts’ expectations. DJIA loses 221 points to finish at 33892, whi...