FT : Ferrari hybrid sales overtake traditional models

Ferrari hybrid sales overtake traditional models
Supercar maker raises profit expectations again after surge in orders for custom features

Sales of Ferraris with hybrid engines have overtaken those of traditional models for the first time, a seminal moment for a brand inextricably linked with supercars driven by noisy, powerful engines. 

Some 51 per cent of Ferrari’s cars sold between July and September were hybrid, compared with 43 per cent in the previous three months and just 19 per cent a year ago. 

Four of the 13 models offered by Ferrari in the quarter were hybrids. Ferrari’s three-month sales were driven by the 296 GTB and GTS supercars, which are hybrids that also use a V6 engine, as well as the top-end SF90 hybrid hypercar. 

A steady increase in production of its non-hybrid Purosangue, a V12 engine powered high-riding vehicle, means that the hybrid sales may drop back below engine-only models in a future quarter. The supercar brand does not expect to launch its first fully-electric model until 2025.

The company has promised that 40 per cent of its line-up will be battery-only cars by the end of the decade, but has refused to put an end date on production of engine-only models.

An increase in the number of Ferrari customers paying extra for custom features such as highly coloured brake callipers led the brand to upgrade its annual profit expectations again on Thursday. 

The business made €332mn in net profit between July and September, 46 per cent higher than the same period a year earlier. While car deliveries only rose 9 per cent to 3,459, revenues climbed 24 per cent to €1.5bn, with higher margins from an increase in “personalisations”.

It now expects adjusted earnings for the year to be €1.57bn, up from previous guidance of €1.51bn-€1.54bn. Bernstein auto analyst Daniel Roeska said the company’s raising of profit expectations was “Groundhog Day”.

Ferrari said its cars were now sold out until 2026 and “[the] order book remains at highest levels reflecting strong demand across all geographies”.

Sales in Europe, the Middle East and Africa — its largest region — rose 8 per cent to 1,398 cars, while sales in the Americas rose by a fifth to 1,096 cars. 

FT : Rise in German unemployment points to cracks in eurozone labour market

Rise in German unemployment points to cracks in eurozone labour market
More companies cut jobs as Europe’s largest economy stagnates and borrowing costs rise

The number of unemployed people in Germany rose by the biggest amount in more than a year as vacancies fell in October, adding to signs of cracks in Europe’s labour market.

The region’s workforce has remained resilient despite a sharp slowdown in growth. But economists and policymakers believe the labour market is weakening as the stagnating economy and higher borrowing costs drive more companies to cut jobs. The German unemployment rate climbed from 5.7 per cent in September to 5.8 per cent last month — the highest level in the EU’s largest economy since June 2021. 

“The lay-off rate in Germany has started to increase a bit, but from the lowest level we have ever seen,” said Enzo Weber, head of research at the Institute for Employment Research in Nuremberg. “We are starting to see the delayed effects of last year’s energy price shock.”

Several German companies have outlined plans to cut jobs in recent weeks, including the country’s biggest lender Deutsche Bank and chemicals producers BASF and Lanxess.

Weber said his institute’s European unemployment barometer had fallen to its lowest level since the middle of 2020 when lockdowns during the coronavirus pandemic brought the economy to a standstill.

Luis de Guindos, vice-president of the European Central Bank, said there were signs that the labour market was struggling to remain “a bright spot” for the eurozone economy. “Fewer new jobs are being created, including in services, which suggests that the cooling of the economy is gradually feeding through to employment,” he said in a speech in Madrid this week.


Germany’s federal employment agency reported a seasonally adjusted increase of 30,000 unemployed people from a month earlier, taking the jobless total in Europe’s largest economy to 2.61mn, up 165,000 from a year earlier.

Germany’s unemployment rate has risen from 5 per cent in March 2022, shortly after Russia launched a full-scale invasion of its neighbour. The agency said the arrival of more than 1mn Ukrainian refugees to Germany had added 0.4 percentage points to its jobless rate.

Many German companies are still suffering from labour shortages, which were reported by 43 per cent of companies surveyed by Munich’s Ifo Institute in July. Economy minister Robert Habeck last month blamed “desperate” labour shortages for the expected 0.4 per cent contraction of the German economy this year, as he called for an increase in skilled immigrants to bolster its ageing workforce.

But the agency said job vacancies posted by companies had fallen to 749,000 in October, down 12,000 from the previous month and 98,000 from a year earlier. 

“You cannot defy gravity forever and you have what looks like a recession now in Germany,” said Ludovic Subran, chief economist at German insurer Allianz.

While eurozone unemployment is expected to stay at a record low of 6.4 per cent when data for October is released on Friday, Subran forecast both the German and eurozone unemployment rates would rise by half a percentage point next year as key sectors lay off workers.

“The construction sector is in decline and that is a very labour-intensive industry,” he said.

Germany’s economy shrank 0.1 per cent in the three months to September from the previous quarter, according to data published this week, confirming its status as one of the world’s weakest major economies.

Higher interest rates have hit the construction sector, causing a sharp decline in housebuilding. Construction activity fell 2 per cent in Germany and 1.3 per cent in the eurozone in the three months to September compared with the previous quarter.

Andrea Nahles, head of Germany’s employment agency, said the country’s long period of stagnation stretching back to last winter “cannot remain without visible consequences for the labour market”. But she added: “In view of the economic data, it is holding up comparatively well.”

Yet last month’s S&P Global survey of purchasing managers at eurozone businesses found falling orders had “prompted firms to reduce employment for the first time since January 2021”. Manufacturers shed jobs at the fastest rate for three years, it found, while “hiring came close to stalling in the services sector”.

>>> Europe : Brokers Upgrades & Downgrades - 2nd of November 2023 V2(+)

>>> Up
* Ashmore Raised to Hold at Canaccord; PT 150 pence (+)
* Babcock Raised to Buy at Shore Capital; PT 465 pence
* Cemex ADRs Raised to Buy at Citi; PT $8.20
* Cicor Tech Raised to Buy at Baader Helvea; PT 58.50 Swiss francs
* Clorox Raised to Buy at Citi; PT $150
* Loihde Raised to Accumulate at Inderes; PT 13.50 euros (+)
* Multiconsult Raised to Buy at ABG; PT 160 kroner
* Orsted Raised to Outperform at Oddo BHF; PT 350 kroner (+)
* Qiagen Raised to Buy at Invest Securities SA; PT 43 euros (+)
* YIT Raised to Reduce at Inderes; PT 1.65 euros

>>> Down
* AB InBev price target lowered to EUR 67 from EUR 68 at Barclays
* AFRY AB Cut to Sell at DNB Markets; PT 105 kronor
* Beasley Broadcast Cut to Neutral at Guggenheim; PT 75 cents
* Boliden Cut to Sell at Berenberg
* doValue Cut to Neutral at Mediobanca SpA; PT 5.20 euros
* EFG International Cut to Sell at Citi; PT 9.80 Swiss francs
* Estee Lauder Cut to Sector Perform at RBC; PT $115
* Jupiter Cut to Hold at Canaccord; PT 70 pence (+)
* Wartsila Cut to Hold at SEB Equities; PT 12 euros

>>> Initiation
* Amazon Rated New Buy at HSBC; PT $160
* Avacta Group Reinstated Sell at Numis; PT 70 pence
* C&C Rated New Neutral at Redburn (+)

>>> Call
* Boliden Cut to Sell at Berenberg as Operational Turnaround Drags

>>> Stoxx 600 Pre-Market Indications

  • Lufthansa (LHA TH) +6.2%
    • Lufthansa Upbeat on Outlook as Travel Boom Seen Continuing (1)
  • Imperial Brands (ITB TH) +2.4%
  • Rio Tinto (RIO1 TH) +2.1%
  • Hugo Boss (BOSS TH) +2%
    • Hugo Boss 3Q Sales at Constant Exchange Rates Beats Estimates
  • Air France-KLM (AFR0 TH) +1.9%
    • Amsterdam Airport Set for Flight Cancellations Due to Ciarán (1)
  • Novo Nordisk (NOV TH) +1.9%
    • *NOVO NORDISK 3Q WEGOVY SALES DKK9.65B, EST. DKK8.07B
  • Delivery Hero (DHER TH) +1.6%
  • Glencore (8GC TH) +1.5%
  • Bawag (0B2 TH) +1.4%
  • ASML (ASME TH) +1.4%
  • L’Oreal (LOR TH) -0.6%
  • Prosus (1TY TH) -1%
  • Hochtief (HOT TH) -1.4%
  • Zalando (ZAL TH) -2.5%
    • Zalando Gross Margin Misses, Full-Year Guidance Cut: Street Wrap

>>> TradeGate Pre-Market Indications

DAX:
  • Infineon (IFX TH) +2.1%
  • Mercedes (MBG TH) +1.3%
  • Vonovia (VNA TH) +1%
  • Siemens (SIE TH) +1%
  • Zalando (ZAL TH) -1.9%
    • Zalando Gross Margin Misses, Full-Year Guidance Cut: Street Wrap
MDAX:
  • Lufthansa (LHA TH) +7%
    • Lufthansa Upbeat on Outlook as Travel Boom Seen Continuing (1)
  • Delivery Hero (DHER TH) +2.4%
    • Delivery Hero Holds 6.7% Deliveroo Voting Rights vs 5.1% Prev
  • Hugo Boss (BOSS TH) +2.3%
    • Hugo Boss 3Q Sales at Constant Exchange Rates Beats Estimates
  • Fresenius Medical (FME TH) +1.5%
    • Fresenius Medical 3Q Operating Income Misses Estimates
  • Hensoldt (HAG TH) -0.9%
  • Hochtief (HOT TH) -1.3%
  • SMA Solar (S92 TH) -3.7%
SDAX:
  • PVA TePla (TPE TH) +6.6%
    • PVA TEPLA 9M EBITDA 29,1 MIO EUR 16,5 VJ: APA
  • Thyssenkrupp Nucera AG & Co KGaa (NCH2 TH) +3.6%
  • Borussia Dortmund (BVB TH) +2.7%
  • Schaeffler (SHA TH) +2.3%
  • Deutsche PBB (PBB TH) +0.8%

WWD : Don’t Call 1 Place Vendôme the Chopard Hotel

Don’t Call 1 Place Vendôme the Chopard Hotel
The Swiss jeweler and watchmaker opens its long-awaited hotel on Place Vendôme — and doors to the Scheufele family’s vision of hospitality.


Make yourself right at home at 1 Place Vendôme.

Chopard is bringing the famed hospitality of the Scheufele family to Paris with the opening of its long-awaited five-star property on the corner of Rue Saint-Honoré and Place Vendôme.

Entirely revamped by Paris-based architecture firm Pierre-Yves Rochon, this 18th-century listed building erected by Louis XIV’s secretary Pierre Perrin has been returned to its former glory as a six-story mansion.

With only 15 suites and rooms spread across 28,000 square feet, 1 Place Vendôme is more town house than template for a hotel franchise — there isn’t even anything that looks like a reception once a visitor steps inside.

Instead, there’s a monumental Murano glass necklace by artist Jean-Michel Othoniel taking pride of place opposite an 18th-century fireplace to welcome guests, who will then head to the library one flight up.

So despite the curling Cs on its wrought iron gate — and the presence of the house’s Parisian flagship, reopened in early 2023, on the ground floor — don’t call this the “Chopard hotel.”

“As a family, we decided that since we have an address that is so prestigious and storied, it would be a shame to stick a name on it,” said Karl-Fritz Scheufele, the third generation of the jeweler’s leading family and son of copresident Karl-Friedrich Scheufele.

“And the idea wasn’t creating plenty of Chopard hotels and brand it to the hilt,” he continued.

Reminders of the brand are therefore kept light throughout. Take the mosaic that spans a whole wall in the winter garden — once the boutique’s watch repair atelier — echoing the Animal World high jewelry collection released in 2010 for the house’s 150th anniversary.

Recreated under Caroline Scheufele’s supervision, it features the mouse holding a heart, butterflies, salamanders and monkeys, motifs that will “speak immediately to someone who knows the history of the house, but can be simply admired for its beauty by someone less familiar,” he said.

Overall, 1 Place Vendôme was almost a decade in the making, after Chopard acquired in 2014 the Union Hôtelière de Paris, a longstanding company that owned the building and operated the previous establishment.

Renovation alone took almost five years, owing to pandemic-driven delays but also to the extensive work needed to rehabilitate the building, bringing it up to standard but also returning some of its features, like the original levels, after the previous occupants — another hotel — created intermediate floors.

“If you look across the street to our neighbors [the Louis Vuitton store], you can see that the levels [of the near-identical buildings] match once more,” he pointed out.

This brought back the 17-foot ceiling height on the second floor, considered the noblest one in classic French architecture, but also revealed the wood beams that are now a feature of the Rubis suite.

Differences in floor level necessitated the addition of small steps here and there, but these perpetuate the charming image of apartments that have been lived in by successive generations.


So does the array of art that includes 1960s Marc Chagall lithography. The younger Scheufele attributed the selection to his father, who brought out pieces from their family home and “all of a sudden really wanted to put them in the hotel,” like the Andy Warhol print now hanging in the Ruby suite. “It wasn’t about letting go — he really wanted this to be in that particular place,” the son said.

While there won’t be a secret elevator leading down into the boutique or a “ring for diamonds” button in suites, there are plenty of breadcrumbs that lead back to the Chopard universe.

Rooms, for example, are named after gemstones and precious materials, as well as navigation instruments or even astronomy, both fields that led to watchmaking.

That provided plenty of inspiration to meet the family’s brief of keeping the historical cachet of the address while giving the impression of a home that lives with its times.


“Each [room] is unique, so that’s what allowed us to lean into a more contemporary side for some of them,” Scheufele said. “That mix between the two is what will give the place its charm.”

Take the Jade room, which takes its cues from the mineral’s connection to East and South Asian ornamentation but also to the aesthetic that was imported to Europe through early exchanges with the region. Tones of black and red nod to the codes of lacquerware, motifs of heron and flowers to the aesthetic glossary from across the Silk Road. Applied to classically French rooms, the result is evocative but not pastiche.

A host of artisans toiled on every detail, ranging from gold leaf patinated to look handsomely aged — and catch the light just so — and bespoke wallpapers or hand-painted frescoes by specialist De Gournay to the sculpted wood panels of the Appartement Chopard, by Ateliers de la Chappelle, a noted millwork specialist located in western France.

Also congruent with the idea of a home is the way 1 Place Vendôme approaches dining, placed in the hands of chef Boris Algarra, an alum of the nearby Mandarin Oriental under Thierry Marx.

Rather than have a restaurant, an all-day snacking menu is available, as well as a more elaborate French cuisine offering. Seasonal products are preferred, but there will always be sure-fire hits such as club sandwiches. Everything can be served anywhere in the hotel. “It’s really about being in a private home and being able to eat whatever you’d like — even fine cuisine — at any time,” Scheufele said.


Sadly for those hoping for a new spot to pop in for meetings or a drink in the pinnacle of high jewelry, the living spaces and bar — including a hidden cigar speakeasy — will be open only to hotel residents.

The privilege of being among them comes at a price: from 1,400 euros for a 350-square-foot room, breakfast not included, while a night the 1,400-square-foot Appartement Chopard starts at 14,000 euros — when it’s not taken over for the jeweler’s events during Paris Fashion Week and its couture counterpart.

These place 1 Place Vendôme squarely among the cadre of elite hotels that have opened in recent years, including the Bulgari and Cheval Blanc properties, both owned by LVMH Moët Hennessy Louis Vuitton.

For those hankering for a fine dining experience, 1 Place Vendôme’s chef’s table set in the underground wine cellar will seat up to eight, open to bookings on a first-come, first-serve basis, with bespoke menus by Algarra.

And why not create encounters between hotel guests by offering to share a table for an evening? “I really like the idea of community travel and having people dine together with strangers,” Scheufele said. “Luxury is also being able to create a dialogue with clients and pushing hospitality that little bit further.”
For the Scheufele family, hospitality is par for the course in life as in business.

There’s the confectionary that put copresident and creative director Caroline Scheufele on the Cannes Film Festival map as “the girl who makes the chocolates,” an anecdote she is fond of sharing, but also offering catering in their Baselworld booth that was so scrumptious retailers would find an excuse to lunch there throughout the fair.

There’s also Geneva-based restaurant Le Caveau de Bacchus, acquired in 1999 by wine lover Karl-Friedrich Scheufele, who already had a wine trading company. He later acquired the Château Monestier-la-Tour wine estate in the Southern Bergerac region, which now has organic certification.

For Karl-Fritz Scheufele, hospitality came from the idea that helming a company like Chopard hinges as much on business acumen as it does on being able to address the needs of high jewelry and watchmaking’s exacting clientele.


Off he went for experiences at famed Zürich’s five-star Baur Au Lac and at Ritz-Carlton properties in Canada — “and I loved it,” he recalled. He followed with a degree at the EHL Hospitality Business School in Lausanne and a master’s degree at the ESCP Business School, between its Paris and London campuses.

More than a new business venture, the younger Scheufele described 1 Place Vendôme as a reflection of his family’s interests.

Case in point, the array of books spread throughout the library. Titles hint at different family members: watches, micromechanics and classic cars for his father; gardens, art and jewelry for his aunt, and Japanese architecture, gastronomy and tea for himself.

There’s also a tome on icons of hospitality, the younger Scheufele adds after a beat. “Perhaps one day 1 Place Vendôme will be one of them. But for now, we’d just like to open,” he quipped.

>>> Europe : Brokers Upgrades & Downgrades - 2nd of November 2023

>>> Up
* Babcock Raised to Buy at Shore Capital; PT 465 pence
* Cemex ADRs Raised to Buy at Citi; PT $8.20
* Cicor Tech Raised to Buy at Baader Helvea; PT 58.50 Swiss francs
* Clorox Raised to Buy at Citi; PT $150
* Multiconsult Raised to Buy at ABG; PT 160 kroner
* Orsted Raised to Buy at DNB Markets; PT 325 kroner
* YIT Raised to Reduce at Inderes; PT 1.65 euros

>>> Down
* AB InBev price target lowered to EUR 67 from EUR 68 at Barclays
* AFRY AB Cut to Sell at DNB Markets; PT 105 kronor
* Beasley Broadcast Cut to Neutral at Guggenheim; PT 75 cents
* Boliden Cut to Sell at Berenberg
* doValue Cut to Neutral at Mediobanca SpA; PT 5.20 euros
* EFG International Cut to Sell at Citi; PT 9.80 Swiss francs
* Estee Lauder Cut to Sector Perform at RBC; PT $115
* Wartsila Cut to Hold at SEB Equities; PT 12 euros

>>> Initiation
* Amazon Rated New Buy at HSBC; PT $160
* Avacta Group Reinstated Sell at Numis; PT 70 pence

>>> Call
* Boliden Cut to Sell at Berenberg as Operational Turnaround Drags

>>> What to look at today - 2nd of November 2023

Stocks and currencies in Asia rose in a relief rally as investors weighed the possible peak of the Federal Reserve’s historic tightening campaign.  Equity benchmarks advanced across the region from Sydney to Hong Kong, with tech firms at the forefront. The South Korean won led emerging-market currencies higher, while the yen also advanced. US stock futures edged higher. The rebound indicated relief among investors in assets that had been battered by expectations of higher-for-longer US rates, after Federal Reserve officials hinted that a run-up in long-term Treasury yields reduces the impetus to tighten policy further. While they left the door open to another increase, Chair Jerome Powell indicated that a pause gives the central bank time to assess if it needs to do more to contain inflation. Following a 20-basis-point slump in Treasury 10-year yields on Wednesday, bonds in the region rallied. New Zealand yields led the decline with a 25-basis-point drop, while even Japanese sovereign bond yields fell despite weak demand at the country’s first bond sale since the central bank loosened its grip on its yield curve control policy on Tuesday. Lower Treasury yields weighed on the greenback, which weakened against major currencies, and helped buttress the yen. The Japanese currency strengthened early Thursday extending gains from Wednesday. Fed Chair Jerome Powell left the door open for further hikes in the central bank’s Wednesday decision, but noted that financial conditions have “tightened significantly in recent months driven by higher, longer—term bond yields, among other factors.” Powell repeatedly said the committee was moving “carefully,” a wording that often has signaled a low likelihood of any immediate change in policy. He also said risks to the outlook have become more two-sided as the tightening campaign nears its end. US jobs data painted a mixed picture. There were more job openings than forecast, according to the latest JOLTS data, while ADP’s private payrolls figures showed fewer new roles than anticipated. Initial jobless claims figures will be released later Thursday. Elsewhere, the Bank of England is expected to hold rates for a second consecutive meeting Thursday, as inflation concerns ease. Back in Asia, South Korea’s inflation unexpectedly accelerated in October, reinforcing the case for the local central bank to keep its restrictive policy in place for longer. Meantime, Japanese Prime Minister Fumio Kishida announced a larger-than-expected economic stimulus package.   Other economic releases Thursday include a monetary policy decision in Malaysia and PMI data for Singapore. Investors will also be keeping an eye on earnings releases from Tata Motors Ltd and Adani Enterprises Ltd. Other companies due to release results include Eli Lilly & Co and Novo Nordisk, while Apple Inc will deliver its latest earnings later on Thursday in the US.  Semiconductor manufacturers and related stocks jumped after AMD provided a strong sales forecats of its new processor with SK Hynix and Samsung Electronics leading the way.   West Texas Intermediate, the US oil benchmark, advanced more than 1% to above $81 per barrel, retracing a Wednesday decline. Gold was steady and bitcoin traded largely unchanged at around $35,500. US After Hours Busy earnings night; ROKU +15.9%, FARO +11%, FSLY +10.5%, ELF +8.4%, DASH +7.6%, PYPL +3.6% higher on earnings; CFLT -34.7%, RELY -22.4%, SEDG -22%, ABNB -2.9% lower on earnings.

Nikkei +1.10% Hang Seng +0.71% CSI -0.26% Shanghai -0.24% Shenzen -0.74%

Eur$ 1.0535 CNH 7.3323 CNY 7.3187 JPY 150.40 GBP 1.2176 CHF 0.9042 RUB 92.6000 TRY 28.3425 WTI$ 81.25 +1% Gold 1,985 +0.12% BTC 35,200 -0.71% ETH 1,835 -1%

S&P +0.14% Nasdaq +0.27% EuroStoxx +0.56% FTSE +0.40% Dax +0.53% SMI +0.22%

Macro :
- BofA Sentiment Indicator Shows S&P Gaining 16% Over Next Year
- Macron Flexes Protectionist Muscle to Shield Vulnerable Firms

Keep an eye on :
- ADEN SW : Adecco 3Q Revenue Meets Estimates
- AIR FP : Spirit Aero Says Striking New Airbus Pact of ‘Utmost Urgency’
- AF FP : Schiphol Airport to Cancel Some Flights on Thursday Due to Storm
- ALT US : Altice USA 3Q Adjusted Ebitda Beats Estimates
- AMBEA SS : Ambea 3Q Net Sales Meets Estimates
- ANDR AV : Andritz 3Q Ebita Beats Estimates
- ATO FP : Onepoint Holds 9.9% of Atos as Part of Reorganization
- BAMNB NA : BAM Sees FY Adjusted Ebitda Margin 4.5%, Saw Above 4%
- CTY1S FH : Citycon Narrows FY EPRA EPS Forecast
- DHER GY : Delivery Hero Holds 6.7% Deliveroo Voting Rights vs 5.1% Prev
- DIS US : Disney to Pay $8.61 Billion for Comcast’s 33% Stake in Hulu (1)
- DKSH SW : DKSH to Buy Bio-Strategy to Grow in Australia, NZ; No Terms
- DRW3 GY : Draegerwerk 3Q Ebit EU29.2M
- DUFN SW : Dufry AG 3Q Sales Beats Estimates
- EPR NO : Europris 3Q Ebitda Beats Estimates
- FRE GY : Fresenius SE 3Q Net Income Excluding Items Meets Estimates
- FME GY : Fresenius Medical 3Q Operating Income Misses Estimates
- FME GY : Fresenius Medical Care Raises 2023 Operating Income Outlook
- GEBN SW : Geberit Sees FY Ebitda Margin 29% to 30%, Saw About 29%
- GF SW : GF Unit Takes 51% Stake in Corys Piping Systems of Dubai
- BOSS GY : Hugo Boss 3Q Sales at Constant Exchange Rates Beats Estimates
- INGA NA : ING Announces €2.5B Buyback; 3Q NII Misses Estimates
- ISS DC : ISS 3Q Sales Beats Estimates
- KOJAMO FH : Kojamo 3Q Net Rental Income Beats Estimates
- LLOY LN : Lloyds Rejected Barclay Family’s £1b Bid for Telegraph: FT
- LHA GY : Lufthansa 3Q Adjusted Ebit Matches Estimates
- MC FP : Luxury Group Lalique Acquires Sauternes Vineyard Near Bordeaux
- NANO FP : Nanobiotix Offers $30 Million Shares
- NAS NO : Norwegian Air 3Q Net Income Beats Estimates
- NETC DC : Netcompany Narrows FY Sales at Constant Exchange Rates Forecast
- NOVOB DC : *NOVO NORDISK 3Q WEGOVY SALES DKK9.65B, EST. DKK8.07B
- NOVOB DC : Novo Nordisk 3Q Wegovy Sales Beats Estimates
- OR FP : *SHISEIDO FALLS AS MUCH AS 5.5% AFTER ESTÉE LAUDER CUTS OUTLOOK
- OERL SW :Oerlikon 3Q Ebitda Meets Estimates
- PSH NA : Pershing Square Holdings Oct. Net Performance -3.6%
- PFV GY : Pfeiffer Vacuum Boosts FY Sales Forecast
- SCATC NO : Scatec Lowers Ebitda Guidance as 3Q Revenue Misses Estimates
- G24 GY : Scout24 SE Boosts FY Operating Ebitda Forecast
- SGL GY : SGL Sees FY Adjusted Ebitda Low End of EU160M to EU180M
- SCMN SW : Swisscom Sees FY Net Rev. CHF11.0B, Saw CHF11.10B to CHF11.20B
- TE FP : Technip Energies 9M Adjusted Recurring Ebit EU318.6M
- TEN IM : Tenaris 3Q Net Sales Meets Estimates
- UBI FP : *ELECTRONIC ARTS RISES 4% AFTER BOOSTING 2024 ADJUSTED EPS VIEW
- UBSG SW : UBS’s Ronner: Bank Not Too Big for Switzerland Despite CS Merger
- UPONOR FH : Georg Fischer Has 92% of Uponor Shares, Voting Rights
- VLK NA : Van Lanschot Kempen 3Q Total Client Assets EU133.6B
- ZAL GY : Zalando FY Revenue Forecast Misses Estimates, Gross Margin Misses, Full-Year Guidance Cut: Street Wrap
- ZURN SW : Zurich Insurance to Buy 51% in Kotak General for $487 Million