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☆ Long-awaited $2 billion CVC debut shows the IPO market is back on track, Euronext boss says
▼ + stars: | 2024-04-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The highly anticipated trading debut of private equity group CVC Capital Partners shows that Europe's initial public offering market is back on track, Euronext CEO Stéphane Boujnah told CNBC on Friday. Shares of Amsterdam-listed CVC, one of Europe's largest buyout companies, jumped around 23% on Friday morning. The IPO is widely expected to be one of Europe's largest this year. Boujnah said the Euronext platform, the largest stock exchange in Europe and one of the largest in the world, had welcomed 11 stock listings since the beginning of the year. "That's a signal of both the success of the Euronext platform and the competitiveness of the Euronext platform — and a signal of the IPO market being back," he added.

Persons: Stéphane Boujnah, Euronext's Boujnah, CNBC's, Boujnah Organizations: Capital Partners, CNBC, CVC, Reuters, Euronext Locations: Amsterdam, Europe

☆ Euronext CEO says IPO market is back — and the listings pipeline is 'very, very impressive'
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuronext CEO says IPO market is back — and the listings pipeline is 'very, very impressive'Euronext CEO Stéphane Boujnah discusses the outlook for initial public offerings in Europe and says that the 11 listings on the platform so far this year show “the worst is over.”

Persons: Stéphane Boujnah, ” Locations: Europe

☆ Five stocks to buy and hold for the long term, according to the pros
▼ + stars: | 2024-04-02 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +8 min

CNBC Pro asked three fund managers for their stock picks to to buy now and hold for the longer term. The average price target for PepsiCo is $186.77, according to FactSet data, giving it potential upside of 6.7%. According to Factset data, of 30 analysts, 18 give the stock a buy or overweight rating while 12 have a hold rating. According to FactSet data, of 18 analysts, 14 give the stock a buy or overweight rating, three have a hold rating and one has a sell rating. The average price target for PDD is $180.12, according to FactSet data, giving it potential upside of 54.9%.

Persons: David Dietze, PepsiCo Dietze, Dietze, Bud Light, Michael Field, Edenred, Jason Hsu, Hsu, OpenAI, Elon Musk, Sam Altman, Greg Brockman, Altman Organizations: Wealth Management, CNBC Pro, PepsiCo, Coca Cola, Anheuser, Busch, Brussels Stock Exchange, New York Stock Exchange, Euronext Paris Stock Exchange, Microsoft, Rayliant Global Advisors, OpenAI, Nasdaq Locations: Belgian, U.S, South America, Europe, Edenred, China

☆ Popularity of listing in U.S. is a problem for London — not Europe, says Euronext CEO
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPopularity of listing in U.S. is a problem for London — not Europe, says Euronext CEOStéphane Boujnah, CEO of pan-European bourse Euronext, discusses the region's IPO pipeline and explains how it is attempting to overcome challenges caused by European fragmentation.

Persons: Stéphane Boujnah Organizations: London, bourse Euronext Locations: Europe

☆ Skip EV stocks like Tesla, says fund manager, naming a 'phenomenal' alternative
▼ + stars: | 2024-03-05 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Competition is heating up in the electric vehicle industry, especially between investor favorite Tesla and Chinese automakers like the Warren Buffett-backed BYD . He said that most EV businesses had not succeeded in making money yet, given the "extraordinary" amount of capital invested initially. He manages over $750 million across the Latitude Horizon Fund and the Latitude Global Fund . 'Phenomenal' Ferrari Lait described Ferrari in particular as "a phenomenal business." The average price target on Ferrari is 391.96 euros ($425.14), according to FactSet data, giving it potential downside of around 8%.

Persons: Tesla, Warren Buffett, EVs, Freddie Lait, CNBC's, Lait, Ferrari Lait, Ferrari, Morgan Stanley's, — CNBC's Michael Bloom Organizations: Latitude Investment Management, Ferrari, Motors, Volkswagen, BMW, New York Stock Exchange, Euronext, Euronext Milan, UBS Locations: Euronext Milan

☆ Morgan Stanley's Slimmon names 3 stocks to buy right now: ‘It's going to be a good year for equities'
▼ + stars: | 2024-02-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The rise in the index has raised some concerns over valuations, but Morgan Stanley's Andrew Slimmon has a more positive take on the recent market moves. Microsoft In the tech sector, Slimmon named Microsoft as his choice to play the AI boom. This gives it around 16.3% potential upside. The average price target for Ameriprise is $418.03, according to FactSet data, giving it potential upside of around 5.1%. This gives it around 4% upside potential.

Persons: Morgan Stanley's Andrew Slimmon, CNBC's, Slimmon, Ameriprise Slimmon Organizations: Morgan Stanley Investment Management, Microsoft, Ameriprise, Apple, Meta, Nvidia, Tesla, New York Stock Exchange, Euronext, London Stock Exchange Locations: Dublin, Euronext Dublin, U.S

☆ Online sports betting stocks are primed for a big 2024 as fans ready for the Super Bowl
▼ + stars: | 2024-01-28 | by ( Brian Evans | ) www.cnbc.com time to read: +9 min

3 market share position," said Jeff Stantial, director of gaming and leisure research at Stifel. DraftKings stock tripled in 2023 and has already gained nearly 10% in 2024. 'Buying' market share The remaining market share is up for grabs and fluctuates among the smaller players. Stantial expects ESPN Bet has the edge over BetMGM, but says both sportsbooks remain tightly contested for a larger slice of market share. ESPN Bet has been running promotions that include $150 of free bets and $1,000 deposit match upon signing up, according to JPMorgan analyst Joseph Greff.

Persons: Jeff Stantial, Bank of America's Shaun Kelley, You've, Stantial, Joseph Greff, Greff, Walt Disney, Barstool, FactSet, JPMorgan's Greff, Bet365, Clark Lampen, Lampen Organizations: DraftKings, Penn Entertainment, ESPN Bet, MGM Resorts International, Baltimore Ravens, Kansas City Chiefs, San Francisco 49ers, Detroit Lions, New York Stock Exchange, NCAA, Bank of America's, Euronext Dublin, BetMGM, ESPN Bet's, Professional, Amateur Sports Protection, ESPN BET, ESPN, Walt, Barstool Sports, Sportico, Penn, MGM Locations: U.S, North Carolina, Ireland, WynnBet, BetMGM, PENN, York

☆ Clearing expansion is 'a game changer' across asset classes, says Euronext CEO
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailClearing expansion is 'a game changer' across asset classes, says Euronext CEOStéphane Boujnah, CEO of Euronext, discusses the completion of the stock exchange's clearing house expansion, and explains why Euronext's single liquidity pool is supporting the Capital Markets Union in Europe.

Persons: Stéphane Boujnah Organizations: Capital Markets Union Locations: Europe

☆ CNH launches $1 bln buyback, NYSE single listing plan effective from Jan 2
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 7 (Reuters) - Farm and construction equipment maker CNH Industrial (CNHI.MI) said on Tuesday its plan to abandon the Milan stock market and retain a single listing for its shares on the New York Stock Exchange would be effective from Jan. 2 next year. The Italian-American group, whose shares are currently traded both on the NYSE and in Milan, earlier this year announced a plan to abandon its Italian listing. CNH said in a statement on Tuesday that the Milan Stock Exchange had approved an application it filed to delist its ordinary shares from Milan bourse and had set the Jan. 2 date for when a NYSE single listing will be effective. As part of its New York single-listing plan, CNH announced a new share buyback program worth up to $1 billion. Since it spun-off its truck and bus unit in January 2022, now separately listed as Iveco Group (IVG.MI), the majority of CNH stock trading has progressively shifted to NYSE, the company said.

Persons: CNH, Goldman Sachs, Giulio Piovaccari, Alvise Armellini, Keith Weir Organizations: MILAN, CNH, New York Stock Exchange, NYSE, Milan Stock Exchange, Milan bourse, Euronext Milan, Iveco Group, Milan, BNP, Thomson Locations: Milan, American, South America, York, Europe

☆ CNH launches $1 bln buyback to support NYSE single listing plan
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 7 (Reuters) - Farm and construction equipment maker CNH Industrial (CNHI.MI) said on Tuesday it had approved a new share buyback program worth up to $1 billion as part of its plan to pursue single-listing in New York. The Italian-American group, whose shares are currently traded both at the NYSE and in Milan, earlier this year announced a plan to abandon its Italian listing. It is confident that single listing on NYSE would be effective at the beginning of January next year, it added. The new buyback program will run between Nov. 8 and March 1 and will be funded through the company's liquidity. Goldman Sachs is acting as financial advisor to CNH, while BNP Paribas is acting as co-advisor and buyback agent for the group in Europe.

Persons: CNH, Goldman Sachs, Giulio Piovaccari, Alvise Organizations: MILAN, CNH, NYSE, Euronext Milan, Milan bourse, Iveco Group, Milan, BNP, Thomson Locations: New York, American, Milan, Europe

☆ Goldman Sachs updates its 'directors’ cut’ list of top Europe stocks with major upside
▼ + stars: | 2023-11-03 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Chip stock addition One notable update to Goldman Sach's directors' cut list was the addition of ASML Holdings – a Netherlands-headquartered chip machine-maker that has Taiwan Semiconductor Manufacturing Company ( TSMC ) as its biggest customer. Stocks on the list British telecommunications player BT Group made the investment bank's updated directors' cut list – with an upside of around 149% from its Oct. 30 close, based on a 12-month price target of £280 ($340.68). Delivery Hero is another favorite stock, with a price target of 53.90 euros ($57.04), giving it an upside of approximately 128%. German real estate player Vonovia was another company that made the investment bank's list with 75% upside based on a 12-month price target of 36.70 euros. They are thus focused on identifying quality growth and select value stocks for their their conviction list of top buy-rated stocks.

Persons: Goldman Sachs, Goldman, ASML Holdings Goldman, Stocks, Vonovia, — CNBC's Michael Bloom Organizations: ASML Holdings, Taiwan Semiconductor Manufacturing Company, Euronext, Nasdaq, BT Group Locations: Europe, Netherlands, Euronext Amsterdam, ASML, bullish, British

CVC targets an IPO that would value the company at more than 10 billion euros, the people said, with the company placing around 10% of its share capital, one of the people said. The private equity firm's partners are not expected to sell stock through the IPO, the people said. Blue Owl, CVC, GIC and HKMA declined to comment. On-road payments provider DKV Mobility, in which CVC has a minority holding, decided to defer its IPO plans because of volatile markets, Reuters reported earlier this month. London-headquartered CVC, which oversees more than 160 billion euros in assets, is striving to transform itself into a diversified asset manager.

Persons: de, Singapore's GIC, Renk, DIF, Glendower, Pablo Mayo Cerqueiro, Elisa Martinuzzi, Barbara Lewis Organizations: REUTERS, Partners, Reuters, CVC, Hong Kong Monetary Authority, Kuwait Investment Authority, DKV Mobility, Thomson Locations: Amsterdam, Netherlands, Kuwait, London

☆ Planisware shares priced at 16 euros in Euronext's biggest IPO in two years
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

The Euronext stock exchange is pictured at the La Defense business district in Paris, France, September 30, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 11 (Reuters) - French software company Planisware has priced its shares at 16 euros ($16.97) each for its initial public offering announced last week, a bookrunner said on Wednesday, making it the largest IPO on Euronext Paris in the last two years. The IPO aims to "strengthen Planisware’s position across strategic markets by increasing its market visibility and brand awareness." The group previously said it aimed for a valuation of between 1.11 billion euros ($1.17 billion) and 1.25 billion euros, with a price bracket of 16 to 18 euros per share. The company's shares are due to begin trading on Oct. 16 on Euronext Paris.

Persons: Benoit Tessier, Nathan Vifflin, Diana Mandià, Alison Williams, Louise Heavens Organizations: La Defense, REUTERS, Euronext Paris, Airbus, Philips, Ford, Pfizer, Thomson Locations: Paris, France, Planisware

☆ Planisware postpones Euronext, marking third European float fail in a week
▼ + stars: | 2023-10-11 | by ( Nathan Vifflin | ) www.reuters.com time to read: +1 min

The Euronext stock exchange is pictured at the La Defense business district in Paris, France, September 30, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 11 (Reuters) - French software company Planisware said on Wednesday it would postpone its initial public offering on Euronext Paris, despite closing the books on the same day, making it the third European float to fail in a week. Planisware follows the steps of German gearbox supplier Renk, which pulled its listing last week despite having indicated its share pricing, also citing a "clouded" market environment. Another German company, DKV Mobilit, on Tuesday postponed its listing until next year, citing an uncertain market environement. Earlier on Wednesday, a bookbuilder said Planisware had priced its shares at 16 euros ($16.98) each, the lower end of the 16-18 euro bracket indicted last week.

Persons: Benoit Tessier, Planisware, Pierre Demonsant, DKV, Nathan Vifflin, Kirsten Donovan, Sharon Singleton Organizations: La Defense, REUTERS, Euronext Paris, Thomson Locations: Paris, France

☆ Legendary hedge-fund manager Bill Ackman has beaten 99% of his peers over the last 5 years. Here are 2 stocks he says he's massively betting on with 40% of his $16.9 billion portfolio.
▼ + stars: | 2023-10-03 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

Bill Ackman says he doesn't short stocks anymore. The hedge fund manager famously feuded with investing legend Carl Icahn over Ackman's short position on Herbalife over a decade ago. At the conference, Ackman talked about two companies he's placing massive bets on right now: Universal Music (UNGVY) and Alphabet (GOOG). Ackman said his portfolio has a 22-25% weight on Universal Music, and a 16-17% weight on Alphabet, meaning he's betting 38-42% of his fund on the two firms. For Universal Music it's streaming.

Persons: Bill Ackman, Carl Icahn, Ackman, we'd, I'm, CNBC's Scott Wapner, Warren Buffett, chatbot, OpenAI's ChatGPT, They've Organizations: Pershing Square Holdings, Delivering Alpha, Pershing, Morningstar, Universal, Euronext, Universal Music, Capitol Records, Jam, Google, YouTube Locations: New York, Euronext Amsterdam

(Reuters) - EquiLend Holdings LLC, the securities lending platform owned by 10 of the biggest Wall Street firms, including Goldman Sachs Group Inc and BlackRock Inc, is exploring a sale following settlement of a major collusion lawsuit, people familiar with the matter said. Euronext NV is one of the parties interested in EquiLend, one of the sources added. EquiLend generates 12-month earnings before interest, taxes, depreciation and amortization of more than $25 million, two of the sources said. One of the sources added that EquiLend may fetch about $700 million in a sale. Goldman Sachs, JPMorgan, Morgan Stanley and UBS agreed to pay $499 million last month to settle the lawsuit that accused them of conspiring to stifle competition in the stock lending market using EquiLend.

Persons: Amr Alfiky, Broadhaven, Morgan Stanley, EquiLend, Goldman Sachs Organizations: Reuters, EquiLend Holdings, Goldman Sachs Group Inc, BlackRock Inc, Trade Center, REUTERS, Broadhaven Capital Partners, Wall Street, Bank of America Corp, UBS Group AG, JPMorgan Chase &, JPMorgan, UBS Locations: Manhattan, New York City, U.S, EquiLend

OneWeb, the British satellite giant, completed its combination with French rival Eutelsat Thursday, setting the stage for a European challenger to Elon Musk's space internet venture Starlink. It comes as competition is heating up between different players in the multibillion-dollar space industry. Likewise, OneWeb also targets enterprise customers, but offers a different service capability thanks to its LEO network – similar to SpaceX's Starlink satellite internet. Eutelsat will remain headquartered in Paris, and OneWeb will continue operating in London with its name changed to Eutelsat OneWeb. Commercial deals are gaining traction in the space industry, with Musk's Starlink service working alongside businesses including Spain's Telefonica and French firms Marlink and Speedcast.

Persons: Elon, Morgan Stanley, OneWeb, Starlink, Eutelsat, Eva Berneke, Neil Masterson, Masterson, Musk's Organizations: Telecom Italia, Deutsche Telekom, Euronext Paris Stock, London Stock Exchange, Eutelsat, CNBC, Spain's Telefonica, SpaceX, SES Locations: British, Orange, Paris, London

☆ Tencent investors Naspers and Prosus announce abrupt departure of CEO Bob van Dijk
▼ + stars: | 2023-09-18 | by ( Arabile Gumede | ) www.cnbc.com time to read: +2 min

Bob van Dijk Bloomberg | Bloomberg | Getty ImagesThe immediate and mutually agreed departure of Naspers and Prosus CEO Bob van Dijk underscores a complicated few years for a firm seen riding on the coattails of its holdings in Chinese tech giant, Tencent . The South African Reserve Bank gave Naspers the greenlight to begin buying back more of its shares from Prosus. 'Getting rid' of the cross holdingPrior to the current structure, Naspers (headquartered in South Africa) owned a third of Chinese internet giant Tencent Holdings. Van Dijk oversaw the decision to split off its holding of Tencent and other tech holdings into Prosus in 2019. But that crossholding offered little value to investors with van Dijk telling Reuters at the time: "They [shareholders] said we don't like this cross holding, it creates complexity.

Persons: Bob van Dijk, Naspers, Koos, Van Dijk, Prosus, crossholding, van Dijk, We've, we're, Erwin Tu, Tu, Goldman Sachs Organizations: Bob van Dijk Bloomberg, Bloomberg, Getty, South, Naspers, South African Reserve Bank, Tencent Holdings, Johannesburg Stock Exchange, Euronext, Reuters, Citi, SoftBank Group Locations: Dutch, Prosus, South Africa, Johannesburg, Naspers

WestRock stockholders will get one share in the new company, called Smurfit WestRock, and $5 in cash for each share they hold, which works out to $43.51 per share, the companies said in a statement. Smurfit Kappa shareholders will receive one new Smurfit WestRock share for each share they hold. That could make the deal more than 20% accretive to Smurfit Kappa's earnings per share, the statement added. Smurfit WestRock will be domiciled in low tax Ireland with its global headquarters in Dublin. Smurfit Kappa will de-list from Euronext Dublin, the latest blow for the Irish bourse as building materials giant CRH prepares to leave later this month.

Persons: WestRock, JP Morgan, Jefferies, Tony Smurfit, Ken Bowles, Irial Finan, Smurfit, Yadarisa, Padraic Halpin, Louise Heavens, Jason Neely Organizations: Kappa, Europe's, JP, Smurfit, Smurfit Kappa, London Stock Exchange, Irish bourse, Thomson Locations: DUBLIN, COVID, South, Central, North America, Europe, Ireland, Dublin, New York, Bengaluru

☆ Morning Bid: Apple and dollar roil markets
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 24, 2023. The broader U.S. tech sector also took a hit, while shares of several major Apple suppliers in Asia slid on Friday. Against a basket of currencies, the dollar is set to clock an eighth straight week of gains. A Reuters poll of forex strategists suggests that the dollar's strength will be difficult to overcome for most major currencies by the end of the year. The pan-European STOXX 600 index (.STOXX) has fallen for seven straight days, its worst string of losses since February 2018.

Persons: Ankur Banerjee, presales, Kim Coghill Organizations: REUTERS, Staff, Ankur, Apple, Huawei Technologies, U.S, Casino, Reuters, Thomson Locations: Frankfurt, Germany, China, Asia, Paris

Retail pasta prices rose about 12% this year in Europe and 8% in the United States, according to market research firm Nielsen. CANADA DRYWhen the Prairies turned dry this summer, Canadian farmer Darold Niwa saw hopes of a bumper durum harvest dashed. Durum, the hardest wheat, produces pasta with the prized "al dente" firm texture, unlike soft wheat. In the meantime, Vincenzo Martinelli, president of the durum section of Italian millers association Italmopa, nervously awaits the outcome of the Canadian harvest. "Without Canada, prices will only go up," he said.

Persons: De, Continental Noodles, Vincent Liberatore, Liberatore, Darold Niwa, Jerry Klassen, Philip Werle, There's, Severine, Maisons, Vincenzo Martinelli, Gus Trompiz, Rod Nickel, Emilio Parodi, Ceyda, Julie Ingwersen, Michael Hogan, Caroline Stauffer, David Gregorio Our Organizations: Foods, Nielsen, Grains, CANADA, Prairies, Statistics, Traders, Northstar, European Union, Thomson Locations: Fara San Martino, Italy, PARIS, WINNIPEG , Manitoba, Canada, Turkey, Toronto, Continental, Spain, India, Europe, United States, Oyen , Alberta, durum, Statistics Canada, France, Algeria, TURKEY, Turkish, American, Russia, North Africa, Milan, Ceyda Caglayan, Istanbul, Chicago, Hamburg

At current prices shares are now down about 16% in the year to date, surrendering gains up to Wednesday's close. Earnings before interest, tax, depreciation and amortisation (EBITDA) were 320 million euros ($348 million), down 10% from a year earlier and below analyst forecasts of 386 million euros, Refinitiv data showed. Revenue rose 21% to 739 million euros, against Adyen's mid-term forecasts of more than 25% growth. He said the economy overall is slowing and online payments growth may not be quite as fast as it was in the pre-COVID era. A similar margin decline led to a sell-off in Adyen shares when the company reported full-year earnings in February.

Persons: Eva Plevier, Hannes Leitner, Adyen, Toby Sterling, Sinead Cruise, David Goodman, Barbara Lewis, Jane Merriman Organizations: REUTERS, Company, Netflix, Microsoft, Spotify, JPMorgan, Revenue, Adyen's, PayPal, Jefferies, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM, North America, Stripe, Braintree, Fiserv

☆ Payments company Adyen's shares drop more than 20% after earnings miss
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

Earnings before interest, tax, depreciation and amortisation (EBITDA) were 320 million euros ($348 million), down 10% from a year earlier and below analyst forecasts of 386 million euros, Refinitiv data shows. Revenue rose 21% to 739 million euros, against Adyen's mid-term forecasts of more than 25% growth. Adyen's EBITDA margin fell to 43% from 59%, which the company said was mostly because of higher wage costs as it takes on more staff. A similar margin decline led to a sell-off in Adyen shares when the company reported full-year earnings in February. Adyen maintained its medium-term targets for revenue growth above 25% and an improving EBITDA margin that it expects to reach 65% in the long term.

Persons: Eva Plevier, Adyen, Toby Sterling, David Goodman, Barbara Lewis, Jane Merriman Organizations: REUTERS, Rights, Netflix, Microsoft, Spotify, JPMorgan, Revenue, Adyen's, North, PayPal, Thomson Locations: Amsterdam, Netherlands, North America, United States

☆ Agnelli family's Exor buys $2.8 bln stake in Philips
▼ + stars: | 2023-08-14 | by ( Tosterling Bart H. Meijer | Bart H. Meijer | ) www.reuters.com time to read: +3 min

[1/2] Philips Healthcare headquarters is seen in Best, Netherlands August 30, 2018. The group combines two of the three sectors Exor targets in its investment strategy: healthcare and technology. While not an activist investor, Exor aims to play an active role in supporting Philips' strategy, the source said. "Exor's substantial investment underlines their confidence in Philips' transformation into a healthcare technology company and its growth and value potential," Philips Chairman Feike Sijbesma said in a statement. Philips last month reported core profit of 453 million euros and slightly upgraded financial targets for the full year.

Persons: de, Exor, Italy's Agnelli, Philips, Feike Sijbesma, John Elkann, Lifenet, Louboutin, Roy Jakobs, Valentina Za, Kim Coghill, David Goodman, Susan Fenton Organizations: Philips Healthcare, REUTERS, Philips, Philips AMSTERDAM, Exor, Institut, Ferrari, Italian soccer, Juventus, ING, U.S . Department of Justice, Thomson Locations: , Netherlands, Exor, Louboutin . New York, Italian, Milan

☆ LSEG’s dealmaking payoff arrives in installments
▼ + stars: | 2023-08-03 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

LSEG (London Stock Exchange Group) CEO David Schwimmer speaks during the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. Yet two and a half years after CEO David Schwimmer got the keys, the London Stock Exchange operator is growing revenue and mostly beating its targets. The deal increased LSEG’s exposure to selling data, typically a more predictable source of revenue. Annual subscriber value, a closely watched metric which measures the recurring revenue in LSEG’s data division, rose nearly 7% in the first six months of the year. Schwimmer’s dealmaking is paying off, but the former Goldman Sachs (GS.N) banker has a few more installments to collect.

Persons: David Schwimmer, Brendan McDermid, Blackstone, Schwimmer, dealmaking, Goldman Sachs, LSEG, Thomson, Peter Thal Larsen, Streisand Neto Organizations: London Stock Exchange Group, Reuters, REUTERS, Brendan McDermid LONDON, London Stock Exchange, London Stock, Thomson Reuters, Microsoft, Deutsche, Jefferies, P, Revenue, Blackstone, Thomson Locations: New York City , New York, U.S, Refinitiv, Breakingviews

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