Corporate Digests – Page 2

Tech, Media & Telecom Roundup: Market Talk

9Nov

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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.0906 GMT – Telecom Italia’s domestic business continued to show signs of improvement in the third quarter, and retail broadband seems to be pivoting to growth, Jefferies analysts say in a research note. The Italian telecommunications company reported quarterly organic revenue and Ebitda after lease that beat consensus expectations by 2.2% and 4.0%, respectively, but the outperformance came more from Brazil than Italy, Jefferies says. “We are seeing improvements in both domestic fixed and mobile service revenue trends, and within fixed, we finally see an inflection in calculated retail broadband [average revenue per user] to growth after a sustained...

8Nov

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Health Care Roundup: Market Talk

The 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.0833 GMT – Bayer posted third-quarter results below forecasts but backed its guidance for the year in what Deutsche Bank analysts call a positive surprise. “The results were more or less expected, and the market should take the guidance confirmation positively, as there was a concern that Bayer might have to cut it again,” the analysts say in a note to clients. The German pharmaceutical and agricultural conglomerate has been grappling with lower prices for glyphosate, the active ingredient found in herbicides and other weed-control products, a development that in July forced the group to slash its overall sales and earnings guidance for the year. Bayer sh...

7Nov

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Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0810 GMT – Posco Holdings’ steel shipments could start to rebound in 1Q 2024, Meritz Securities analyst Jang Jae-hyeok says in a research note. The South Korean steelmaker’ steel-product sales could recover next year on the Chinese government’s increased infrastructure investment, which should lead Chinese steelmakers to raise product prices and thus raise overall average selling prices for steel goods, Jang notes. However, the company’s lithium segment could be pressured by falling metal prices, he says. Meritz trims the stock’s target by 3.1% to KRW630,000 to reflect the lowered valuation for the lithium business but keeps a buy rating. Shares ended 11% lower ...

2Nov

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Financial Services Roundup: Market Talk

Updated Nov. 2, 2023 12:31 pm ETThe latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1140 ET – Jupiter Fund Management operates in an increasingly challenging environment, which is made worse by competition, Canaccord Genuity says in a note. The London-listed money manager is under pressure from additional net management fee margin as well as from costs from rewarding and retaining fund managers in a competitive environment, analysts Portia Patel and Justin Bates write. CG cuts its rating on the stock to hold from buy and the target price to 70 pence from 168 pence. Shares are up 6.5% at 84.80 pence (elena.vardon@wsj.com)Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 ...

2Nov

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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.0811 GMT – NetEase’s 3Q results are unlikely to live up to street expectations, which look overly bullish to Nomura, but should show strong solid revenue growth. Analyst Jialong Shi sees revenue up 8% on year, led by a 25% rise for mobile gaming thanks to blockbuster title “Justice” and newcomer “Dunk City Dynasty.” Online game and value-added services revenue is tipped to grow 12%, with PC gaming the weak point, down 16% mainly on the deconsolidation of games licensed from Blizzard, Shi says. Market focus will be on “Justice,” as its performance will affect NetEase’s gaming outlook in the next quarters. Nomura will also track the launch schedule f...

31Oct

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Basic Materials Roundup: Market Talk

Updated Oct. 31, 2023 5:42 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.1224 ET – First Quantum Minerals shares continued their decline on Tuesday as uncertainty over the future of its big Cobre Panama copper mine remains. Shares were down nearly 16% at C$16.88. First Quantum says it noted the Panamanian government’s intention to hold a popular consultation in December over Law 406 which approved the company’s revised contract for Cobre Panama. “First Quantum has contacted the government in order to understand the details in respect of the popular consultation,” it said. On Monday, analysts at National Bank of Canada lowered their rating on First Quantum’s stock to sector perform from outperform and c...

31Oct

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Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0802 GMT – BP reported weak 3Q numbers, with a large miss to net income, partly driven by weaker gas trading, RBC Capital Markets analyst Biraj Borkhataria writes in a research note. “This may come as a surprise given commentary from peers, however notably, BP has reported exceptional gas trading results on several occasions in the last couple of years, including last quarter,” he says. Despite some solid indicators segmentally, earnings missed across all divisions, he says, adding that the downstream, customers and products business reported $2.1 billion in underlying replacement cost profit before interest and taxes versus consensus of $2.4 billion despit...

30Oct

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Tech, Media & Telecom Roundup: Market Talk

Updated Oct. 30, 2023 12:23 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.1206 ET – McDonald’s reports that digital sales of nearly $9B made up more than 40% of systemwide sales in the burger chain’s top six markets during 3Q. CFO Ian Borden says on a call with analysts that McDonald’s now has more than 57M customers that actively use its digital channel at least every 90 days in those top markets. “We’re learning when they visit, how they visit and what they buy, with more and more of our sales coming through identified channels than ever before,” Borden says. Digital channels include the company’s mobile app, delivery and digital kiosks at its stores. (dean.seal@wsj.com)Copyright ©2023 ...

27Oct

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Health Care Roundup: Market Talk

The 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.1351 ET – Venture-capital investment in biotechnology startups continues to slide from its 2021 peak, but that isn’t a reason to think innovation will suffer, says Kevin Eisele, managing director, equity capital markets for investment bank William Blair. As biotech investment surged from 2018 to 2021, many similar companies emerged to pursue the same drug targets, he says. Now fewer quick-follower companies attract attention as investors target more-differentiated companies. Moreover, investment in healthcare venture-capital funds remains robust. U.S. healthcare VCs had raised $13.7 billion as of midyear, putting 2023 on pace to nearly match the record $2...

25Oct

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ESG Roundup: Market Talk – WSJ

Updated Oct. 25, 2023 5:18 pm ETThe latest Market Talks covering ESG Impact Investing. Published exclusively on Dow Jones Newswires at 10:00 ET and 17:00 ET.1644 ET – Sunnova Energy is feeling the bite of higher interest rates. The residential solar company reported higher 3Q revenue due to more solar energy systems, but the company’s logged a wider-than-expected loss. The company said the loss was mostly caused by higher interest expense and higher general and administrative expenses. Chief Executive John Berger said the company can capitalize on declining solar equipment prices and higher utility rates, despite the higher interest rate environment. Shares rise 11% to $8.92 after hours. (ben.glickman@wsj.com; @benglickman)Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved....