DIRS.INFO The most relevant business & tech news

☆ Goldman names 3 'attractive' value stocks that offer more than 50% upside
▼ + stars: | 2024-02-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has identified three "attractive" value stocks that could see significant share price appreciation over the next 12 months. The Wall Street bank's analysts see over 50% upside potential in British Airways parent International Consolidated Airlines Group , agricultural machinery maker CNH Industrial , and health technology company Philips . Goldman Sachs said all three companies stand out amongst their European peers for their cheap valuations compared to earnings growth prospects. IAG-GB 1Y line Philips Goldman recommends buying Philips and expects the shares to be up 51% over the next 12 months. CNH Industrials Goldman Sachs upgraded CNH to buy last month.

Persons: Goldman Sachs, John Sawtell, Goldman's, Patrick Creuset, Creuset, Philips Goldman, Roy Jakobs, CNH Industrials Goldman Sachs, Michael Bloom Organizations: British Airways parent International Consolidated Airlines Group, Philips, CNBC Locations: Europe, United States

Nov 7 (Reuters) - Agricultural and construction machinery maker CNH Industrial on Tuesday lowered its 2023 revenue forecast, citing a softening for its farm machinery, predominantly in South America, sending its shares plummeting. A Milan-based trader told Reuters European funds were also selling the stock ahead of CNH's delisting from the Milan bourse. The Italian-American company lowered its net revenue forecast from industrial activities, which accounts for the majority of CNH's revenue, of between 3-6% this year, down from a previous forecast of 8-11%. CNH, which houses brands such as Case IH and New Holland, reported third-quarter net sales from industrial activities down 1% year on year at $5.33 billion. CNH, which also announced a new share buyback programme as part of plans to achieve single listing on the New York Stock Exchange, reported quarterly adjusted operating profit from industrial activities of $657 million, down from $670 million a year earlier.

Persons: Scott Wine, Alessandro Parodi, Giancarlo Navach, Bianca Flowers, Kirsten Donovan, David Goodman, David Evans Organizations: Reuters, Milan bourse, Deere, Co, Caterpillar Inc, IH, South, New York Stock Exchange, Thomson Locations: South America, Milan, New York, American, New Holland

☆ CNH profit rises on strong equipment demand, shares down as guidance held
▼ + stars: | 2023-07-28 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +3 min

CHICAGO, July 28 (Reuters) - Farm and construction equipment maker CNH Industrial (CNHI.MI), reported better-than-expected operating profit on Friday, though shares fell as much as 6% as an unchanged revenue forecast cast doubt on future growth potential. Globally, CNH, which houses brands such as Case IH and New Holland, was boosted by strong demand for its high-horsepower farm equipment and record construction sales. However, sales for both agriculture and construction equipment contracted in South America. CNH's profit margins have been propped up by price increases across its machinery segments to help offset inflated input costs and a choppy supply chain. He also noted that dealers won't continue to accept double-digit price increases as inflation starts to cool.

Persons: Eric Greaser, Kristen Owen, Scott Wine, CNH's, Bianca Flowers, Giulio Piovaccari, Alessandro Parodi, Jonathan Oatis, Kirsten Donovan Organizations: CNH, IH, South America . Company, Oppenheimer, Co, CNH's, North America . Revenue, Thomson Locations: American, Moody's, New Holland, South America, North America, Chicago

☆ Electric truck maker Nikola may do reverse stock split to comply with Nasdaq rules
▼ + stars: | 2023-06-01 | by ( Abhirup Roy | ) www.reuters.com time to read: +2 min

SAN FRANCISCO (Reuters) -Electric truck maker Nikola Corp may execute a reverse stock split if its stock does not comply with Nasdaq’s minimum bid price requirements within a certain period, its chief executive Michael Lohscheller said on Thursday. Nasdaq requires shares trade above $1 and sends a notice if one trades below that mark for 30 consecutive business days. If Nikola cannot comply in those periods, the company can execute the reverse stock split, subject to a shareholder vote, to move its shares above the $1 mark, Lohscheller said. A reverse stock split consolidates the number of existing shares into fewer shares. Cash burn in the first quarter was $240 million, compared with $200 million per quarter in 2022, Nikola said last month.

Persons: Nikola, Michael Lohscheller, Massimo Pinca Nikola, Lohscheller, ”, Cash, ” Nikola Organizations: FRANCISCO, Reuters, U.S, Nikola, REUTERS, Nasdaq, Companies, ” Investors Locations: Turin, Italy

☆ Nikola announces a $100 million stock offering
▼ + stars: | 2023-03-30 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Electric heavy-truck maker Nikola said on Thursday that it plans to raise $100 million via a secondary stock offering to the public and — possibly — a private sale of stock to an unnamed investor, if needed. First, the company said, it will offer up to $100 million worth of stock to the public via a traditional secondary offering, with Citigroup underwriting. If the public offering raises less than $100 million, that investor has agreed to buy the remainder at the public offering price. Either way, Nikola will raise $100 million before fees, money that it plans to use for working capital and other general purposes. Nikola had $233.4 million in cash and equivalents available as of Dec. 31, down from $315.7 million at the end of September.

☆ CNH Industrial buys Augmenta to boost crop treatment accuracy
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

MILAN, March 13 (Reuters) - Italian-American vehicle maker CNH Industrial (CNHI.MI) has acquired U.S. company Augmenta, valuing its strategic partner at $110 million, in a bid to help farmers harness technology to increase the effectiveness of crop spraying. CNH, a maker of farm machinery and construction equipment sees so-called precision technologies as a key competitive feature in its agriculture business, its largest one. The group, whose revenue topped $25 billion in 2022, has said it was pursuing an estimated contribution from precision technology components of $1 billion to this year's net sales. CNH already owned a 10.5% stake in Augmenta through its venture capital arm CNH Industrial Ventures. The deal, which will be funded with available cash, is expected to be closed in the first quarter, CNH Industrial said.

Search resuls for: "CNH's"

6 mentions found