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☆ Linde's guidance leaves investors wanting more. We're saying thanks to the sellers
▼ + stars: | 2024-05-02 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Shares of Linde fell on Thursday after the industrial gas giant reported mixed first-quarter results and its guidance left some investors wanting more. We're not sure of the rationale for excluding it but that explains why we're not fretting about Linde's lack of guidance raise. Guidance For the second quarter, Linde projects adjusted EPS between $3.70 and $3.80, which implies 5% to 7% year-over-year growth, excluding currency impacts. As always with Linde, the midpoint of the guidance assumes no economic improvement. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Linde, —, Sanjiv Lamba, Matthew White, White, Lamba, Eaton, We're, we're, Jim Cramer's, Jim Cramer, Jim, Michaela Rehle Organizations: Linde, Revenue, LSEG, Products, Management, LIN, Nvidia, CNBC Locations: Munich, Pullach, Germany

☆ Signa group's SportScheck retailer to file for insolvency - reports
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsBERLIN, Nov 30 (Reuters) - German sporting goods retailer SportScheck, part of the debt-addled Austrian property empire Signa, will file for insolvency with a court in Munich on Thursday, the DPA news agency and other German media reported. The court was not immediately available for comment and SportScheck was not reachable. Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of a property crash in Europe driven by a sharp rise in interest rates and building costs. Reporting by Matthias Inverardi and Rachel More, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

Persons: Michaela Rehle, SportScheck, Matthias Inverardi, Rachel More, Kirsti Organizations: REUTERS, Rights, Thomson Locations: Munich, Germany, Europe

☆ UK's Frasers plans to buy SportScheck assets out of administration
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsNov 30 (Reuters) - British sports and fashion group Frasers (FRAS.L) said on Thursday it will seek to buy SportScheck's business and assets out of administration after the German sporting goods retailer filed for insolvency. Signa on Wednesday filed for self-administered reorganisation proceedings, and media reports followed on Thursday that SportScheck would also file for insolvency. Frasers confirmed SportScheck's administration in its statement and said it exercised its rights under its agreement with Signa to withdraw from the deal. However, the London-listed group said it intends to work with SportScheck's appointed administrator to purchase its business and assets.

Persons: Michaela Rehle, Frasers, Signa, SportScheck, SportScheck's, Sri Hari, Krishna Chandra Organizations: REUTERS, SportScheck, Retail, Sports, Sri, Thomson Locations: Munich, Germany, London, SportScheck, Bengaluru

☆ The price of love: Three important money tips for caregivers
▼ + stars: | 2023-11-21 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

For three years, Miura chipped in time, money and care, taking her grandmother to the emergency room so often that she got to know all the hospital security guards by name. "It was very stressful," said Miura, now 28, who helps others in this situation at her advisory Spark Financials. "What stands out for me is the number of people who are not only caregivers, but financial caregivers too," said Surya Kolluri, who heads the TIAA Institute. No wonder caregivers' financial lives are impacted: On average they have fewer assets and higher debt than non-caregivers, the report found. Remember that others could likely contribute money or time or both as well, including siblings, children, friends, cousins and in-laws.

Persons: Michaela Rehle, Danielle Miura, Neda, Miura, Surya Kolluri, Mary Naylor, Penn, –, Chris Taylor, Lauren Young, Richard Chang Organizations: REUTERS, TIAA Institute, University of Pennsylvania School of Nursing, NewCourtland, Transitions, U.S . Department of Health, Human Services, Alliance, National Alliance for Caregiving, Thomson Locations: Planegg, Munich, GERMANY, Ripon , California

☆ FTC seeks information on $8.5 bln Tapestry-Capri deal
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

The logo of Michael Kors is seen on an outlet store in Metzingen, Germany, June 16, 2017. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsNov 6 (Reuters) - The U.S. Federal Trade Commission (FTC) has sent requests to Tapestry (TPR.N) and Michael Kors owner Capri Holdings (CPRI.N) for more information on their planned $8.5 billion deal, the companies said on Monday. The companies said on Monday they expect to respond "promptly" to the FTC's request and aim to close the deal as planned, in 2024. Capri's shares, which had jumped 55% on Aug. 10 after the deal was announced, were down 2.5% in extended trade. Reporting by Manas Mishra and Juveria Tabassum in Bengaluru; Editing by Shounak Dasgupta and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Kors, Michaela Rehle, Kate Spade, Stuart Weitzman, Jimmy Choo, Versace, Capri's, Tapestry, Manas Mishra, Juveria, Shounak Dasgupta, Krishna Chandra Organizations: REUTERS, U.S . Federal Trade Commission, Capri Holdings, Capri, Thomson Locations: Metzingen, Germany, Paris, Bengaluru

☆ Uncle Sam provides shaky base for Caterpillar
▼ + stars: | 2023-10-31 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

The $500 billion U.S. infrastructure spending bill, passed in late 2021, helped lift the firm’s third-quarter profit 41% from a year ago. As with other sharp pullbacks after government-supported pandemic spending, Caterpillar will prove that counting on federal aid isn’t a viable business model. And the construction firms that order from Caterpillar appeared to step back, with the company's backlog of deliveries falling $2.6 billion in the third quarter. The U.S. CHIPS Act set aside $39 billion to help build semiconductor factories, leaving more money for construction firms and, in turn, Caterpillar. Umpleby may be benefitting from Uncle Sam now, but before long Caterpillar will have to fend for itself.

Persons: Michaela Rehle, James Umpleby, Joe Biden’s, EBITDA, Uncle Sam, Lauren Silva Laughlin, Sharon Lam Organizations: Construction Machinery, Machines, Mining Machines, Construction Vehicles, REUTERS, Rights, Reuters, Caterpillar, U.S . General Services Administration, Siemens, Cummins, LSEG, Thomson Locations: Munich, Germany, Texas, China, U.S

☆ Record-breaking Kane scores hat-trick in Bayern's 7-0 demolition of Bochum
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

Kane's three goals put him above club great Gerd Mueller, Miroslav Klose and Mario Mandzukic who all scored five times in their first five games. The Bavarians, who beat Manchester United 4-3 in their Champions League opener on Wednesday, move up to 13 points in top spot from five Bundesliga games. Earlier, Eric Maxim Choupo-Moting had tapped in for a fourth-minute lead from a perfectly-timed Kingsley Coman assist. Kane made sure of a club record when he scored with a 54th-minute penalty before Coman hit the woodwork on the hour. ($1 = 0.9388 euros)Reporting by Karolos Grohmann; editing by Clare FallonOur Standards: The Thomson Reuters Trust Principles.

Persons: Harry Kane, Michaela Rehle, Gerd Mueller, Miroslav Klose, Mario Mandzukic, Kane, Eric Maxim Choupo, Moting, Kingsley Coman, Leroy Sane, Coman, Tel, Karolos, Clare Fallon Organizations: Soccer Football, Bundesliga, Bayern Munich, VfL Bochum, Allianz Arena, Bayern, Rights, Manchester United, Champions League, Bayer Leverkusen, England, Thomson Locations: Munich, Germany, Rights MUNICH, Bayern Munich, Heidenheim, Sunday

The company established the Allianz Global Diversified Private Debt Fund (AGDPDF) II in Luxembourg in mid-June, company filings show. Money managers are vying for a slice of the growing private credit market, which emerged in the aftermath of the 2008 financial crisis and is currently estimated to have assets of $1.5 trillion. Private credit funds are increasingly competing with banks, including for financing large company buyouts. The fastest escalation in borrowing costs in decades has posed a test for private credit but so far defaults by borrowers have been limited. Rather than lending directly, the Allianz Global Diversified Private Debt Fund invests in other credit funds and also makes co-investments.

Persons: Michaela Rehle, Proskauer, Pablo Mayo, Elisa Martinuzzi, Jane Merriman Organizations: Allianz, REUTERS, Allianz Global Investors, Allianz Global, Debt Fund, Fund, Reuters, Pablo Mayo Cerqueiro, Thomson Locations: Unterfoehring, Munich, Luxembourg, London

☆ Some US Caterpillar workers plan possible strike once contract expires
▼ + stars: | 2023-02-28 | by ( Bianca Flowers | ) www.reuters.com time to read: +2 min

REUTERS/Michaela RehleFeb 28 (Reuters) - Union workers at four Caterpillar Inc (CAT.N) U.S. facilities have threatened to strike for wage increases, improved safety measures and better healthcare benefits once a six-year labor contract expires this week. "We've been losing every contract for decades - the 2017 contract was nowhere near what we needed," the statement read. In January, union workers at the four Caterpillar facilities voted almost unanimously to authorize a strike, according to one local union's Facebook page. However, the Irving, Texas-based company said on its website that it will "continue to operate our facilities" with management and contract workers. A short supply of workers, experts said, has given unions bargaining power to negotiate better contracts.

☆ Jaguar Land Rover opens three European self-driving tech hubs
▼ + stars: | 2023-02-21 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

[1/2] Jaguar Land Rover unveils the new Jaguar F-Type model during its world premiere in Munich, Germany, December 2, 2019. REUTERS/Michaela RehleLONDON, Feb 21 (Reuters) - Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley artificial intelligence company Nvidia (NVDA.O). The hubs in Munich, Bologna and Madrid will develop self-driving systems for JLR's next generation of luxury vehicles. JLR already has six global tech hubs the United States, China and Europe. The partnership with Nvidia gives JLR a well-funded ally as it tries to catch up with Tesla Inc (TSLA.O) and other luxury vehicle rivals in a digital technology arms race.

[1/3] Lucky Strike cigarettes are seen during the manufacturing process in the British American Tobacco Cigarette Factory (BAT) in Bayreuth, Germany, April 30, 2014. The company also did not announce a new share buyback programme, as widely anticipated by analysts. BAT (BATS.L) had in February last year announced a buyback worth up to 2 billion pounds ($2.4 billion). The group forecast on Thursday its 2023 revenue would rise 3-5% in constant currency terms, adding growth would be affected by the sale of its businesses in Russia and Belarus. The company's distributor in Russia, SNS Group of Companies, said in March last year BAT was in talks to transfer its Russian business to SNS.

☆ Wall Street rewards Linde for a quarter that exemplifies why we own the stock
▼ + stars: | 2023-02-07 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The stock popped nearly 4% as Wall Street showed appreciation for what we've been saying all along about the durability of the company's businesses even in tough times. Excluding foreign exchange (forex) fluctuations, this marks the ninth quarter in a row of 20% or better annual earnings growth —especially remarkable during multi-decade high inflation. Linde's stock is about 5.7% from its intraday all-time high of $352.18 on Jan. 5, 2022. Although about two-thirds of Linde's sales are in more cyclical end markets, Linde's business model is very defensive. The table above is a look at Q4 sales growth numbers for each category.

[1/4] Ford Mustang Mach-E GT is seen during the Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. The move comes as electric vehicle manufacturers are feeling pressure from Tesla's price cut to respond. "Ford just cut Mustang EV prices in response to Tesla’s price cut. "Tesla’s price cut was a major blow to the prospects of competing EV models and the Mustang Mach-E directly competes with Tesla’s Model Y," said Garrett Nelson, an analyst at CFRA Research. Ford said existing Mustang Mach-E customers awaiting delivery of vehicles will automatically receive the price cut.

[1/2] People look at a Polestar car during the Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. The Swedish carmaker, founded by China's Geely (0175.HK) and Volvo Cars (VOLCARb.ST), posted an operating loss of $196.4 million, down from $292.9 million a year ago, while revenue rose to $435.4 million from $212.9 million. Polestar, which listed on the Nasdaq exchange in June via a merger with a special-purpose acquisition company (SPAC), said rising costs for raw materials used to make its batteries had not yet fully hit because of set contracts. "The full extent of that will then... partly offset the raw material costs," he said, adding that the carmaker expected to raise prices further. But Chief Executive Thomas Ingenlath said Polestar was on track to deliver 50,000 cars in 2022.

☆ Adidas slashes 2022 outlook after Kanye West split
▼ + stars: | 2022-11-09 | by ( Rachel More | ) www.reuters.com time to read: +2 min

Adidas now expects its currency-neutral revenue to grow at a low-single-digit rate in 2022, down from a previously forecast mid-single-digit rate. An Adidas logo is pictured inside a shoe before the company annual general meeting in Fuerth near Nuremberg, Germany, May 11, 2017. It posted net income from continuing operations of 66 million euros, revising down its preliminary figure by almost two-thirds following the end of the Ye partnership. The termination of the partnership is expected to reduce annual earnings by half, the company previously said, with net income from continuing operations of around 250 million euros ($252 million) now expected this year. ($1 = 0.9939 euros)Writing by Rachel More; Editing by Miranda Murray and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

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