Research Market strategy
By Swissquote Analysts
Morning News

Novartis’s Sandoz Sets Out Growth Plan Following Proposed Spinoff

Novartis’s off-patent medicines division Sandoz set out its growth plans as a standalone company following the proposed spinoff, saying it is well positioned to continue delivering mid-single digit sales growth. With an increase of 1.0 per cent, Novartis performed markedly better than the European pharmaceutical sector (+0.1%).

By
Mathieu VILLARD
Morning News

Inditex Stock Up On Q1 Profit Growth

Shares of Inditex SA were gaining 5.7 percent in Spain after the clothing firm that owns Zara reported Wednesday significant growth in its first-quarter profit on higher revenues as well as the absence of a prior year provision. Regarding the second quarter to date, the company revealed its store and online sales in constant currency between May 1 and June 4 increased 16 percent versus the same period in 2022. Inditex indicated seeing strong growth opportunities. Spring/Summer collections continue to be very well received by customers. For the fiscal year 2023, the company expects a stable gross margin, plus or minus 50 basis points. At current exchange rates, Inditex forecasts a negative 2.5 percent currency impact on sales. As announced earlier, Inditex's Board of Directors will propose to the Annual General Meeting a dividend for fiscal 2022 of 1.20 euros.

By
Mathieu VILLARD
Morning News

Apple Takes on Meta in Race to Make Headsets the Next Big Thing

Apple’s new mixed-reality headset is a bet that the future of computing is the metaverse. A lot of other companies think so too. The iPhone maker’s $3,499 Vision Pro headset, set to go on sale next year, joins a crowded field from rivals such as Meta Platforms, TikTok owner ByteDance, Samsung Electronics and Sony. They are predicting that entertainment, work and leisure will take place in virtual reality or with digital content interspersed with the real world. Most of the companies that have launched products so far have done so with the goal of keeping prices low enough to entice millions of new users.

By
Nadine PEREIRA
Morning News

Kuehne+Nagel replace Credit Suisse in the Swiss Market Index

The imminent takeover of Credit Suisse by UBS will lead to extraordinary adjustments in the indices of the Swiss stock exchange next week. The shares of Kühne+Nagel (-1.6%) will join the 20 stocks included in the Swiss Market Index (SMI). The stocks of the logistics company from Schindellegi are thus in the top Swiss stock market league for the first time. Thus, with UBS, only one bank remains in the SMI. The shares of Credit Suisse have been in the index since the SMI was founded in 1988, at that time still under the name Schweizerische Kreditanstalt (SKA).

By
Mathieu VILLARD
Morning News

UBS Expects to Complete Credit Suisse Acquisition as Early as 12 June 2023

UBS expects to complete the acquisition of Credit Suisse as early as 12 June 2023. At that time, Credit Suisse Group AG will be merged into UBS Group AG. Completion is subject to the registration statement, which covers shares to be delivered, being declared effective by the US Securities and Exchange Commission, and to satisfaction, or waiver by UBS, of other remaining closing conditions. Upon completion, Credit Suisse shares and American Depositary Shares (ADS) will be delisted from the SIX Swiss Exchange (SIX) and the New York Stock Exchange (NYSE).

By
Mathieu VILLARD
Themes Trading

Speeding up EV charging infrastructure to boost the EV market

Electric vehicle sales are revving up across Europe, and the numbers indicate a trajectory that might just take this market to the moon, metaphorically speaking of course.

By
Mathieu VILLARD
Morning News

Remy Cointreau Expects Flat Margins in FY 2024 as US Drinkers Take It Slower

Remy Cointreau said that it expects little growth in margins or sales in the new fiscal year as U.S. consumption drops from recent highs. The French cognac maker said it anticipates stable profitability and sales in fiscal 2024 as a postpandemic boom in the U.S. fades, balanced by acceleration in the key China market and other regions.

By
Mathieu VILLARD
Morning News

Salesforce Earnings Rise as Margins Grow

Salesforce posted higher first-quarter profit as margins came in ahead of the company’s expectations, a sign that cuts from its nascent turnaround plan are taking hold. The quarterly earnings and revenue topped Wall Street expectations. The business-software provider also boosted its earnings outlook and margin targets for the year, while backing revenue guidance. Chief Executive Marc Benioff said the results showcased its new emphasis on cost management, which came after pressure from shareholders earlier this year.

By
Mathieu VILLARD
Morning News

Beijing Says Musk Opposes Decoupling of U.S., China

China’s foreign ministry said Elon Musk told officials in Beijing that he opposes decoupling the world’s two biggest economies, in a meeting held shortly after the Tesla chief executive arrived in the country at a time of heightened geopolitical tensions with the U.S. In a statement released Tuesday evening, Musk was quoted by Chinese officials as having told Foreign Minister Qin Gang that the interests of the two countries were intertwined and inseparable, like “conjoined twins.”

By
Mathieu VILLARD
Morning News

Biden, McCarthy Gain Support for Debt-Ceiling Deal but Chokepoints Await

President Biden and House Speaker Kevin McCarthy appeared on track to gain enough bipartisan support to suspend the debt limit, so far confining dissent to the progressive and conservative wings of their parties, though procedural chokepoints could still complicate the race to avoid an unprecedented default. The debt-ceiling agreement, which Biden and McCarthy (R., Calif.) made final on Sunday, would suspend the borrowing limit for two years and curb government spending during that time. It would cut spending on domestic priorities favored by Democrats while boosting military spending by about 3%. It also would extend limits on food assistance to some beneficiaries to prod them to find jobs.

By
Mathieu VILLARD