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☆ CNBC Daily Open: Hopes sink for March rate cuts
▼ + stars: | 2024-02-01 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Overnight, U.S. stocks were sharply lower after Fed chair Jerome Powell said the central bank likely won't be ready to cut rates in March. China tough place for U.S. firmsMore U.S. companies are finding it tougher to be profitable in China compared to before the pandemic. [PRO] Jefferies top picksAlibaba, ASML are some of Jefferies' "highest-conviction" stock picks to buy.

Persons: Jerome Powell, Hang Seng, Paytm, Michael Hart, Meta's, Victor Lee, Jefferies Organizations: Federal Reserve, New York Stock Exchange, CNBC, Treasury, U.S, American Chamber of Commerce, Qualcomm, Jefferies Locations: New York City, U.S, Asia, Hong Kong, South Korea, India, Mumbai, China

☆ Alibaba, ASML and more: Jefferies reveals its 'highest-conviction' stocks to buy — and one has 118% upside
▼ + stars: | 2024-02-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Investment bank Jefferies has revealed its top stock picks that are exposed to major themes like innovation, new products, and emerging markets. The investment bank forecasts Prudential shares will rise 118% to 18,000 British pence over the next 12 months. The investment bank expects Hong Kong-listed shares of Alibaba to rise to 128 Hong Kong dollars ($17), which implies an 84% upside potential. The investment bank expects shares to rise 57% over the next 12 months. The investment bank believes ASML's current valuation of 33 times forward earnings is too low since it forecasts 49% earnings growth over the next two years.

Persons: Jefferies, Prudential Jefferies, Prudential's, Anil Wadhwani, Eddie Wu, Wu, Alibaba's, Joe Dickerson, Dickerson, — CNBC's Michael Bloom Organizations: Prudential, Jefferies, Hong, U.S, HSBC Jefferies, HSBC, ASML Semiconductor, DexCom Locations: U.K, Asia, China, India, Africa, Hong Kong, Alibaba

The declines have come from just about every sector, with the exception of technology, which has seen its earnings estimates rise since October 1. A good example: IBM , which beat earnings expectations and highlighted an uptick in demand for artificial intelligence products and services. Outside of technology, earnings expectations are lower than three months ago, but are now rising again. "The market has been anticipating improving earnings expectations, and it's getting them. By that I do not mean that earnings estimates are rising, I mean they are not getting cut as much anymore," Raich added.

Persons: Nick Raich, it's, Raich, Sherwin, Williams, Heidi Petz, Kimberly, Clark, Nelson Urdaneta, that's, shipper J.B, Hunt, John Roberts, McCormick, Gamble, STMicroelectronics, Jim Fitterling, DuPont, hasn't, ASML, Andre Schulten, Baker Hughes Organizations: IBM, Treasury, Scout, Paint Stores, Insurance, Procter, Swift Transportation, Dow Inc, Texas, 3M, Gamble, FedEx, Humana, Adobe, Dupont Locations: Americas, China

☆ ASML and more: UBS names sectors and over 10 global stocks to play right now
▼ + stars: | 2024-01-25 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Europe is set for a "weak stagnation" that will dampen the market, but several sectors and stocks stand out to UBS as good plays this year as growth stabilizes and inflation slows. "Our macro outlook for Europe is for a weak stagnation that takes European equities modestly lower but delivers another year of actionable divergences between sectors and stocks," UBS analysts led by Gerry Fowler wrote in a Jan. 19 note. "In 2024, we think the factors that will perform are domestic (smaller companies), quality and growth," the analysts wrote, adding that slower growth and lower yields should reduce the headwinds for the valuations of growth stocks. 'Well-positioned, domestic, quality, growth companies' "Well-positioned, domestic, quality, growth companies" that UBS has given buy ratings include Spanish clothing company Industria de Diseno Textil, British bakery chain Greggs and online real estate platform Rightmove as well as French construction player Vinci . It has a buy rating on ASML Holdings , SAP , Infineon Holdings and Capgemini , giving them potential returns of 22%, 17%, 40% and 10%, respectively.

Persons: Gerry Fowler, Vinci, — CNBC's Michael Bloom Organizations: UBS, International Monetary Fund, Industria de Diseno Textil, Software, Gartner, ASML Holdings, SAP, Infineon Holdings Locations: Swiss, Europe, Spanish, China

☆ Critical chip firm ASML posts 30% surge in full-year revenue but signals slowdown in 2024
▼ + stars: | 2024-01-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Here's how ASML did versus LSEG consensus estimates:Net sales: 7.2 billion euros ($7.82 billion) versus 6.9 billion euros expected7.2 billion euros ($7.82 billion) versus 6.9 billion euros expected Net profit: 2.05 billion euros versus 1.86 billion euros expectedASML had previously said that it expects fourth-quarter net sales between 6.7 billion euros and 7.1 billion euros with a gross margin between 50% and 51%. Net sales for the fourth quarter rose 12.5% year-on-year, while the company reported a gross margin of 51.4% in the fourth quarter. ASML said it expects first-quarter net sales of between 5.0 billion euros and 5.5 billion euros. "We maintain our conservative view for the total year and expect 2024 revenue to be similar to 2023. ASML reported 27.6 billion euros in revenue for 2023, higher than the 21.2 billion euros of the year before.

Persons: ASML, Peter Wennink Locations: U.S

☆ Stocks making the biggest moves midday: Netflix, ASML, AT&T, Advanced Micro Devices and more
▼ + stars: | 2024-01-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Netflix – The streaming stock popped nearly 13% after topping fourth-quarter revenue estimates and posting strong subscriber growth. Revenue topped expectations and AT & T added more subscribers than anticipated, but the company forecasted lower-than-expected adjusted earnings for 2024. The company guided for fourth-quarter revenue of $2.90 billion, under the $3 billion expected by analysts surveyed by FactSet. Abbott posted adjusted earnings that came in line with the consensus estimate of analysts polled by FactSet at $1.19 per share. The firm also told investors to anticipate full-year adjusted earnings between $4.50 and $4.70 per share, a range that includes the $4.63 per share analyst forecast.

Persons: ASML, DuPont preannounced, DuPont, Kimberly, Clark, Clark's, LSEG, Abbott, CNBC's Michelle Fox, Hakyung Kim, Lisa Kailal Han, Alex Harring, Tanaya Macheel, Jesse Pound Organizations: Netflix, StreetAccount, New Street Research, AMD, Spotify, Texas, SAP, DuPont de Nemours, DuPont, FactSet, Elevance Health, Abbott Laboratories, Wall Street Locations: Europe

☆ Stocks making the biggest moves premarket: Netflix, AT&T, Tesla, EBay, AMD and more
▼ + stars: | 2024-01-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Netflix — Netflix's stock price jumped 9.2% after topping analysts' revenue and subscriber growth expectations during the fourth quarter. ASML — Shares of the Dutch chip firm gained 6.8% after the company beat expectations on revenue and profit. Texas Instruments — Shares of the technology company fell more than 3% after it missed revenue estimates for the fourth quarter. The company reported $4.08 billion in revenue, below the $4.12 billion projected by analysts, according to LSEG. AT & T did, however, slightly beat revenue expectations for the fourth quarter and said it expects to deliver adjusted EPS growth in 2025.

Persons: SAP's, Dupont, Tesla, —, Jesse Pound, Lisa Kailai Han, Michelle Fox Theobald Organizations: Netflix, Texas, SAP, Dupont de Nemours, EBay, NewStreet Research, AMD

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, AMD, Home Depot, Western Digital & more
▼ + stars: | 2024-01-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Northland downgrades Advanced Micro Devices to market perform from outperform Northland downgraded the stock mainly on valuation. " Bernstein reiterates Apple as market perform Bernstein said it expects "not great" Apple earnings on February 1. William Blair downgrades Vita Coco to market perform from outperform William Blair said it's concerned about higher costs for the beverage company. Raymond James downgrades Comerica to market perform from outperform Raymond James said the earnings outlook looks too challenging for Comerica. "We are downgrading CMA shares from Outperform to Market Perform and reducing our 2024 EPS estimate to reflect its initial 2024 outlook."

Persons: Bernstein, Hunt, KeyBanc, Key, it's, Morgan Stanley, Oppenheimer, Lowe's, Goldman Sachs downgrades Archer, Daniels, Goldman, Vikram Luthar, William Blair downgrades Vita Coco, William Blair, Wolfe, NiSource, Tesla, Goldman Sachs, Stone, Evercore, Raymond James downgrades, Raymond James Organizations: Bernstein, Pacific, Norfolk, Union Pacific, NSC, UBS, Devices, Northland, AMD, Western, Home Depot, Apple, HSBC downgrades Lululemon, Daniels Midland, ADM, TAM, Airlines, Barclays, Netflix, JPMorgan, Xerox JPMorgan, Raymond James downgrades Comerica, Comerica, CMA Locations: Norfolk Southern, Northland, Brazil

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ Here are Friday's biggest analyst calls: Nvidia, Netflix, Apple, Starbucks, Marvel, Coinbase, IBM, Amazon & more
▼ + stars: | 2024-01-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs upgrades Fiverr to buy from neutral Goldman said the Israeli online marketplace is well positioned for AI. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on Amazon shares. Bank of America downgrades Celsius to neutral from buy Bank of America says it sees "uncertainty to sales momentum" for the energy drink company. Deutsche Bank names Starbucks a top pick Deutsche says it sees an improved same-store sales environment for Starbucks in 2024. Bank of America upgrades Teekay Tankers to buy from neutral Bank of America upgraded the tanker stock due to "rising rate upside."

Persons: Stifel, McKhann, thoughtfully, Goldman, Goldman Sachs, FVRR, Raymond James, TXN, Oppenheimer, Morgan Stanley, ASML, Citi downgrades Blackstone, Carlyle, it's bullish, headwinds, Evercore, Price, Apple Evercore, Janney, Jefferies, Hertz Organizations: Broadcom, Semiconductor, Enterprise, Nvidia, Bank of America, Amazon, North, Holdings, Netflix, Deutsche Bank, Starbucks, Deutsche, SSS, UBS, Texas, Barclays, Nokia, Ericsson, Citi downgrades, Citi, BMO, Marvel, " Bank of America, United Rentals, of America, IBM, Enterprise IT, Apple, Shoals Technologies, Inc, HSBC, Discover, Motorola Solutions, HERTZ Locations: North America, 4Q, 2026E, CY24

☆ China could face more chip restrictions in 2024, analysts say
▼ + stars: | 2024-01-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

China could face more semiconductor export curbs from the likes of the U.S. and the Netherlands to contain the Asian powerhouse's chip tech, analysts told CNBC. Earlier this year, the Netherlands blocked Dutch semiconductor equipment maker ASML from exporting some of its deep ultraviolet lithography systems to China. It came after the U.S. tightened export controls on advanced semiconductors and chipmaking tools to China in October last year, building on previous rules. "I wouldn't be surprised if there's more [U.S. restrictions] coming just because we're still in the middle of this tit-for-tat. Beijing slammed the Dutch government's move, urging the Netherlands to "uphold an objective and fair position and market principles."

Persons: we're, Dan Hutcheson Organizations: CNBC, U.S, China's Ministry of Commerce Locations: China, Netherlands, Beijing, U.S, TechInsights

☆ 2023's AI boom was about 'obvious' plays — here's how to invest in the next leg, according to Citi
▼ + stars: | 2024-01-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Here are four areas that are "clear beneficiaries from the coming integration of AI into everyday business and personal lives," according to Citi. AI infrastructure Key suppliers along the global semiconductor value chain are set to be big beneficiaries in 2024, Citi said. That will include chipmakers, semiconductor equipment and data centers. The continuing manufacturing and e-commerce boom will lead to the need for more automation and robotics, according to Citi. Cybersecurity Citi warned of a sinister side to the proliferation of AI: hackers using AI chatbots to write the code to carry out cyberattacks.

Persons: Kristen, there's, Cybersecurity Organizations: Nvidia, Citi, Citi Global Wealth, Semiconductor, FDA, Citi Research, Robotics, Cybersecurity Citi Locations: Singapore

☆ 'Buy on the dips': Morgan Stanley names its favorite stocks in European tech
▼ + stars: | 2024-01-17 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Those themes can "drive earnings momentum throughout this year, especially in 2H24," Morgan Stanley's analysts led by Lee Simpson wrote in a Jan. 11 research note titled "2024 Outlook: buy on the dips." The stocks are listed in the order of Morgan Stanley's preference in the table above. ASML The Dutch semiconductor equipment maker made Morgan Stanley's list, with a 12-month price target of 700 euros ($764.26), giving it around 7.8% upside. They expect the stock to "outperform on recovery" and thus gave it a target price 48 euros, or 20.8% upside potential. VAT Group This German company was among Morgan Stanley's top stocks, thanks to its exposure to the memory segment.

Persons: Morgan Stanley, Morgan, Lee Simpson, Morgan Stanley's, Besi, STMicroelectronics Morgan Stanley, — CNBC's Michael Bloom Organizations: Wall Street Bank Locations: 2H24, upcycles

☆ Chip Wars Boost Europe’s Top Tech Company—for Now
▼ + stars: | 2024-01-15 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Not even the ASML’s most advanced competitors have managed to copy its extreme-ultraviolet equipment. Photo: Cfoto/DDP/Zuma PressThe more the U.S. government worries about China’s ambitions in the chip industry, the more equipment for making chips that China seems to buy. When ASML, the Dutch company that makes the world’s most advanced lithography machines for manufacturing microchips, reports fourth-quarter results next week, one of the most eye-catching numbers will be the share of sales it made in China. This reached an extraordinary 46% in the third quarter, up from just 8% in the first three months of the year.

Persons: ASML Organizations: DDP, Zuma Locations: China

☆ China says the U.S. has 'weaponized' chip export controls
▼ + stars: | 2024-01-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. BEIJING — China's Ministry of Commerce said Thursday the U.S. is weaponizing export controls and using them as a tool. "The United States has instrumentalized and weaponized export control issues," she said, calling for the Dutch side to "respect the spirit of the contract and support businesses in conducting compliant trade." She was responding to a question about ASML, the Netherlands-based company that makes lithography machines that are key to manufacturing advanced semiconductors. ASML said in a Jan. 1 statement the Dutch government restricted it from exporting some lithography products to China.

Persons: Shu Jueting, ASML Organizations: Bund, BEIJING — China's Ministry of Commerce, CNBC Locations: Shanghai, China, BEIJING, United States, Netherlands

☆ ASML blocked from shipping some of its critical chipmaking tools to China
▼ + stars: | 2024-01-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

ASML sells lithography machines that are a key part of the chip manufacturing process. The NXT:2050i and NXT:2100i, which are caught up in the Dutch government's latest export curbs, are DUV lithography machines. The revocation of the shipping license comes after the U.S. government tightened export controls on advanced semiconductors and chipmaking tools to China in October, building on previous rules. ASML said it does not expect the revocation of its export license of U.S. export controls "to have a material impact on our financial outlook for 2023." The company has previously said it expects fourth-quarter net sales of between 6.7 billion euros and 7.1 billion euros ($7.34 billion and 7.78 billion).

Persons: ASML Organizations: Apple, NXT, U.S, U.S ., Dutch Ministry of Foreign Affairs, CNBC Locations: U.S, Veldhoven, Netherlands, China, Dutch

☆ ASML forced to suspend some China exports after US escalates tech battle
▼ + stars: | 2024-01-02 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world. CNN —ASML has been ordered by the Dutch government to restrict shipment of some of its chip-making equipment to China, the company said on Monday. For several years, the Dutch government has faced pressure from the United States to limit chip-related exports to China. ASML said when the rules were updated that due to “the length and complexity of the regulations, ASML will need to carefully assess any potential implications.”The updated export restrictions would affect between 10% and 15% of the firm’s sales to China, ASML Chief Executive Peter Wennink said during an earnings call in October. China reacted on Tuesday, by calling the US curbs “hegemonic” and “bullying.”These actions will “undermine the global semiconductor landscape,” Foreign Ministry spokesperson Wang Wenbin said.

Persons: CNN — ASML, ASML, Biden, Peter Wennink, ” ASML, Wang Wenbin Organizations: CNN, United, NXT, ASML, Foreign Locations: China, United States, Veldhoven, Netherlands

☆ Evergrande’s Hong Kong court ruling is big reprieve
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Dec 4 (Reuters Breakingviews) - A Hong Kong court on Monday adjourned to next month a hearing over a petition for the liquidation of China Evergrande (3333.HK). It lobs the ball back to Beijing: the judge told Evergrande to hold direct discussion with “relevant authorities” on the revamped terms. Options are limited following the detention of the company’s Chair Hui Ka Yan in September on suspicion of unspecified crimes. It also defers a high-profile test on whether Hong Kong liquidation rulings over mainland companies would be implemented across the border more efficiently following the introduction of a limited mutual recognition pact in 2021. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Evergrande, Hui Ka Yan, Chan Ka, Neiman Marcus, Una Galani, Thomas Shum Organizations: Reuters, Hong, HK, X, Saks, Barclays, Thomson Locations: HONG KONG, Hong Kong, China, Beijing

☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

☆ Roche’s late obesity punt offers wider market cure
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann Acquire Licensing RightsLONDON, Dec 4 (Reuters Breakingviews) - Roche’s (ROG.S) foray into the prospective $100 billion obesity market can bring wider benefits. On Monday, the $224 billion Swiss pharma group said it had agreed to take over weight-loss drug developer Carmot Therapeutics for $2.7 billion. Market leader Novo Nordisk (NOVOb.CO) is already selling obesity drugs in the U.S. and parts of Europe. Still, Schinecker’s obesity bet could turn successful if it ends up undercutting obesity pioneers on prices. With over 1 billion people globally classed as seriously overweight, other drugmakers will follow Roche on the obesity bandwagon.

Persons: drugmaker Roche, Arnd, Eli Lilly’s, Thomas Schinecker, Eli Lilly, Eccogene, Roche, Aimee Donnellan, Neiman Marcus, Lisa Jucca, Oliver Taslic Organizations: REUTERS, Reuters, Swiss pharma, Carmot Therapeutics, Novo Nordisk, U.S . Food, Drug Administration, AstraZeneca, Novo, X, Saks, Thomson Locations: Basel, Switzerland, U.S, Europe, Hong Kong

☆ Saks and Neiman Marcus are better together
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

The signage outside the Neiman Marcus store is seen during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 19, 2020. REUTERS/Jeenah Moon Acquire Licensing RightsNEW YORK, Dec 1 (Reuters Breakingviews) - Saks Fifth Avenue and Neiman Marcus might be headed down the aisle. The two luxury retailers are in talks to merge, according to the Wall Street Journal on Friday. By joining forces, Saks and Neiman would have more power negotiating with vendors and ability to control costs. Saks and Neiman are destined to match up.

Persons: Marcus, Neiman Marcus, Neiman, Jennifer Saba, Robert Cyran, Aditya Sriwatsav Organizations: REUTERS, Reuters, Saks Fifth, Wall, Saks, HBC, Dallas, Ares Management, Plan Investment Board, Bain, Neiman, X, Barclays, Thomson Locations: New York City, U.S, Canada

☆ ASML’s new CEO has tricky path to a 1,000% return
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

On Thursday the Dutch group said Chief Executive Peter Wennink is retiring after a decade at the helm. The Veldhoven-based group dominates the market for lithography equipment, a key tool for making microchips used to power everything from smartphones to cars. Demand for its kit has seen ASML’s revenue quadruple and its shares deliver a 1,000% total return since Wennink took over in July 2013. But ASML’s current market power makes it harder for his successor to do deals without inviting antitrust scrutiny. The next 1,000% return is likely to take longer than 10 years.

Persons: Peter Wennink, Christophe Fouquet, ASML, microchips, Wennink, Fouquet, Karen Kwok, Julius Baer’s, Neil Unmack, Oliver Taslic Organizations: Reuters, X, Barclays, Thomson Locations: U.S, China

☆ ASML boss Wennink to retire in April; veteran Fouquet to step up
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: +1 min

ASML Chief Executive Peter Wennink will retire at the end of his term next April to be replaced by company veteran Christophe Fouquet, the Dutch semiconductor equipment manufacturer said on Thursday. Fouquet, who has been with ASML for 15 years, has previously overseen its extreme ultraviolet (EUV) product lines, which now account for about half of the company's sales. EUV technology, was developed and commercialised by ASML, and is used by only a handful of manufacturers to make advanced chips. "Christophe's career is a clear example of natural evolution throughout the company," Wennink said. The company also announced that Chief Technology Officer Martin van den Brink will retire on April 24.

Persons: Peter Wennink, Christophe Fouquet, Wennink, Fouquet, Taiwan's, Martin van den Brink, Jim Koonmen Organizations: Nikon, Canon, Samsung, Intel, Micron, SK Hynix, Technology

☆ Far-right anti-Islam candidate clinches shock Dutch election win. Here's what comes next
▼ + stars: | 2023-11-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Dutch voters have gone to the polls today in one of the most tightly contested general elections in recent years. Next stepsForming a coalition in the 150-seat Dutch parliament is typically lengthy and difficult, even where the victor is not a political pariah. There is still no guarantee Wilders will become the new prime minister, even with his Freedom Party (PVV)'s 37 seats. On fiscal policy, Wilders' party has a "clear populist" bent, said Ester Barendregt, chief economist at Rabobank. Certainly one wish of Geert Wilders is to pay less to Europe.

Persons: Geert Wilders, Carl Court, shockwaves, Wilders, Mark Rutte, Sarah de Lange, Pieter Omtzigt's, de Lange, CNBC's, Ester Barendregt, Barendregt, Liza Mügge Organizations: Party for Freedom, Getty, European Union, Freedom Party, Department of Political Science, University of Amsterdam, Party, Rabobank Locations: SCHEVENINGEN, NETHERLANDS, Dutch, Scheveningen , Netherlands, Netherlands, Brussels, Ukraine, policymaking, U.S, China, Europe

☆ Samsung Elec sold more ASML shares in Q3 -company filing
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Nov 15 (Reuters) - South Korea's Samsung Electronics (005930.KS) cut its stake in semiconductor manufacturing equipment maker ASML (ASML.AS) further in the third quarter, the company's latest financial statement showed. Samsung Electronics more than halved its stake in ASML earlier this year. The stake Samsung sold is worth around 726.7 million euros ($789.92 million) based on the latest share prices. That brought Samsung Electronics' holding in the Dutch chip equipment maker down to 0.4%, or 1.58 million shares, according to the report. Samsung Electronics did not have an immediate comment.

Persons: Ed Davies Organizations: Samsung Electronics, Samsung, Thomson Locations: SEOUL, ASML

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