2023-06-23 21:00:19
TOPS
Covestro (+16%) : The German chemical group received a takeover offer of around 11 billion euros from the national oil company of Abu Dhabi (Abu Dhabi National Oil Company, or ADNOC), and refused it, advancing the weakness of the offer and by refuting the suitability of the candidate for its assets. In the process, several analysis offices raised their recommendation or their price targets on the title.
Ocado (+15%) : The British food e-commerce and warehouse automation specialist surged this week amid takeover rumours. The names of various suitors have been put forward, including that of the American giant Amazon. The two groups did not comment on the rumor, but in the event of an official offer, the target should have informed the market. Passed the euphoria, the action of the partner of the French Casino folded up yesterday. As a reminder, the stock is trading 80% below the highs reached in early 2021.
Overstock.com (+13%) : Good deal for Overstock! The US online home furnishings retailer has won a bid to snap up part of the assets of Bed Bath & Beyond, the home goods chain that filed for bankruptcy in April . For $21.5 million, it acquires the intellectual property, mobile platform and commercial data of its former competitor, but not the physical stores or the Buy Buy Baby brand. The transaction will be submitted for bankruptcy court approval next week.
Microstrategy (+11%) : The software company, a specialist in data analysis, appreciated this week thanks to the remarkable rise in Bitcoin, which came back above $30,000. The American group is indeed the largest holder of bitcoins, with 140,000 units of the cryptocurrency. It should also be noted that the chairman of the group shed part of his stake: he sold 20,000 shares on June 16th.
Newspaper Budget (+9%) : While the travel sector shows a palpable recovery, stocks in the tourism industry are benefiting. The car rental company, which thus improves its visibility, is not immune to this upturn. The group is also benefiting from favorable recommendations and price target increases, notably from Morgan Stanley. Avis, which posts better margins than its competitors in the sector, is up 37% since January 1.
FLOPS
SES-imagotag (-58%) : Unsurprisingly, the French group attacked this week by a short seller is at the top of this ranking of declines. Short-seller Gotham City Research released an incriminating report ahead of the opening of European markets on Thursday morning, accusing the world leader of electronic labels and management systems for mass retailers of accounting irregularities and opaque relations with its largest shareholder the Chinese group BOE Technology, and questioning its latest sales contracts. The action, suspended Thursday at the request of management and restored this morning, suffered a strong downward movement.
Siemens Energy (-34 %) : The German energy company lost a third of its stock market value this morning following warning that the impact of quality problems in its Siemens Gamesa wind turbine business might cost more than a billion euros and that it would take years to fix it. These problems add to the difficulties of manufacturers, faced with rising raw material costs and competition. Note that Siemens Energy dragged down its comrades Nordex and Vestas.
Wasp (-28%) : Similar situation for the world leader in the manufacture of medical equipment for healthcare establishments, faced with quality problems which should weigh on its profits. The Swedish group had alerted to flaws in the sterile packaging of its cardio-pulmonary products and problems with the equipment in its range of cardiac assistance. He predicts regarding $38 million in second-quarter revenue shortfalls. The company also continues to suffer from shortages of components for the pumps.
Lanxess (-20%) : The German chemical group slumped this week following announcing that it was revising its expected operating profit before depreciation and amortization (EBITDA) downwards for the year, due to continued weakness in demand and a lack of recovery Chinese. In the process, Deutsche Bank Research lowered its price target on the title. It should be noted that Lanxess has brought its peers in the sector in its wake: Solvay, Clariant and BASF.
Lumen (-18%) : The American telecommunications group and Internet service provider folded following an analyst sharply reduced its price target on the group following the day of investors held by the company: UBS went from 5 dollars to 2.5. The reasons for the downgrade are unclear to the market, as the group unveiled a new product line, ExaSwitch, aimed at helping customers manage bandwidth in data centers. The analyst highlights the current economic challenges and the lack of visibility on EBITDA.
Sartorius Stedim Biotech (-15%) : The equipment supplier for the biopharmaceutical sector, weighed down by a less dynamic market than expected, issued a warning on the results for 2023: it expects a drop of 10 to 15% in its turnover this year. The group also reduced its current gross operating surplus (Ebitda) margin target to “around 30%” for 2023, whereas it previously anticipated a stable margin compared to the 35% reached in 2022. the stride, JPMorgan lowered its target price on the title.
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