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Continental

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Reuters - 22 hours ago

MTU Aero Engines, Nestle, Vusiongroup

EUROPE RESEARCH ROUNDUP- MTU Aero Engines, Nestle, Vusiongroup Sept 16 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including MTU Aero Engines, Nestle and Vusiongroup, on Monday. HIGHLIGHTS * Advanced Medical Solutions Group Plc AMSU.L : Peel Hunt raises target to 246p from 220p * MTU Aero Engines AG MTXGn.DE : Citigroup cuts to sell from neutral * Nestle SA NESN.S : Morgan Stanley cuts to underweight from equal-weight * Sodexo EXHO.PA : B
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Reuters - 5 days ago

Banco, Shell, WH Smith

EUROPE RESEARCH ROUNDUP-Banco, Shell, WH Smith Sept 12 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Banco, Shell and WH Smith on Thursday. HIGHLIGHTS * ABN Amro Bank NV ABNd.AS : JP Morgan raises to neutral from underweight * Banco Bpm BAMI.MI : JP Morgan raises to neutral from underweight * Shell Plc SHEL.L : Berenberg cuts target price to 3,100p from 3,400p * UMG UMG.AS : Citigroup cuts target price to EUR 26 from EUR 29.50 *
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Reuters - 1 week ago

Continental sees warranty provisions in mid double-digit million euro range

Continental sees warranty provisions in mid double-digit million euro range FRANKFURT, Sept 10 (Reuters) - Continental CONG.DE has recognised provisions in the mid double-digit million euro range for a warranty case involving its MK C2 integrated brake systems and assumes that this will be sufficient, a spokesperson for the car parts supplier said on Tuesday.
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Reuters - 1 week ago

BMW cuts 2024 outlook on Continental brake issues, shares plunge

UPDATE 4-BMW cuts 2024 outlook on Continental brake issues, shares plunge BMW now expects EBIT margin of 6-7% in 2024 Continental says some braking systems need to be replaced BMW shares down 11.7%, Continental shares down 10% Adds share price benchmark in paragraph 2, Citi analysts in paragraph 7 By Paolo Laudani and Christina Amann Sept 10 (Reuters) - BMW BMWG.DE cut its 2024 profit margin outlook on Tuesday due to sluggish demand in its key Chinese market and problems related to a braking sys
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Reuters - 1 week ago

BMW shares fall after FY outlook cut, dragging peers

BUZZ-BMW shares fall after FY outlook cut, dragging peers ** Shares in BMW BMWG.DE fall around 7% to their lowest since October 2022 after the German carmaker trimmed its guidance, dragging its peers down ** BMW now expects FY EBIT margin to be in a range of 6% to 7% compared to 8% to 10% previously targeted ** Shares in Mercedes-Benz MBGn.DE , Vol
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Reuters - 1 week ago

Continental: will replace some braking systems supplied to BMW

Continental: will replace some braking systems supplied to BMW Sept 10 (Reuters) - Car part maker Continental CONG.DE on Tuesday said it will have to replace some braking systems supplied to carmaker BMW BMWG.DE , pointing to problems with its MK C2 product. The affected MK C2 brakes are still able to perform to the legally required standards, Continental said in a statement, and affected cars were in the process of having them replaced.
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Reuters - 1 week ago

Continental stops production of rollers, sleeves citing cost pressures

Continental stops production of rollers, sleeves citing cost pressures Sept 9 (Reuters) - German tyre maker Continental CONG.DE said on Monday it will stop production of rollers and sleeves for printing and other industrial applications by the end of 2024, citing a difficult market environment with high competitive and cost pressures. Production will stop in the Waltershausen production site in the eastern German state of Thuringia, affecting around 20 of the just under 1,000 people who work the
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Reuters - 2 weeks ago

Companies sell their businesses in Russia

FACTBOX-Companies sell their businesses in Russia Adds Unilever Sept 5 (Reuters) - Some Western companies have sold their Russian assets or handed them over to local managers to comply with sanctions over the war in Ukraine and respond to threats from the Kremlin that it may seize foreign-owned assets. Below are some companies that have sold their businesses in Russia, divided by sector: AUTOS Continental CONG.DE sold its Russian tyre plant to holding company S8 Capital in May 2023. Renault RENA
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Reuters - 2 weeks ago

Draegerwerk, Hikma, Novartis

EUROPE RESEARCH ROUNDUP-Draegerwerk, Hikma, Novartis Sept 3 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Draegerwerk, Hikma and Novartis, on Tuesday. HIGHLIGHTS * Draegerwerk DRWG.DE : Jefferies raises to hold from underperform * Hikma HIK.L : Berenberg raises to buy from hold * Munters Group AB MTRS.ST : Jefferies raises to buy from hold * Novartis AG NOVN.S : Jefferies cuts to hold from buy * Swedencare AB (Publ) SECARE.ST : J
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Reuters - 3 weeks ago

Accelleron, BHP, Kingfisher

EUROPE RESEARCH ROUNDUP-Accelleron, BHP, Kingfisher Aug 28 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Accelleron, BHP and Kingfisher, on Wednesday. HIGHLIGHTS * Accelleron ACLN.S : Deutsche Bank raises target price to CHF 42 from CHF 34 * BHP Group BHPB.L : JP Morgan cuts target price to 2,580p from 2,650p * Kingfisher KGF.L : Citigroup cuts to neutral from buy * Vonovia SE VNAn.DE : Citigroup raises target price to EUR 52.80 f
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Reuters - 3 weeks ago

Continental rises as UBS ups to 'buy', sees boost from autos spin-off plan

BUZZ-Continental rises as UBS ups to 'buy', sees boost from autos spin-off plan ** Shares in Continental CONG.DE rise around 4% after UBS upgrades the German automotive supplier to "buy" from "neutral", citing a boost from its potential spin-off of autos division ** The proposed autos spin-off should help unlock value for Continental shareholders,
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Reuters - 3 weeks ago

AB Foods, Bunzl, Barratt

EUROPE RESEARCH ROUNDUP- AB Foods, Bunzl, Barratt Aug 27 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including AB Foods, Bunzl and Barratt on Tuesday. HIGHLIGHTS * AB Foods ABF.L : Deutsche Bank cuts to sell from hold * Bunzl BNZL.L : JP Morgan raises target price to 3,660p from 3,380p * Barratt BDEV.L : Morgan Stanley resumes coverage with equal-weight rating * Continental AG CONG.DE : UBS raises to buy from neutral * Schindler Holding
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Reuters - 1 month ago

Barclays, Ibstock, London Stock Exchange

EUROPE RESEARCH ROUNDUP-Barclays, Ibstock, London Stock Exchange Aug 8 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Barclays, Ibstock and London Stock Exchange, on Thursday. HIGHLIGHTS * Barclays BARC.L : HSBC raises target price to 310p from 290p * Ibstock IBST.L : Berenberg raises target price to 200p from 150p * London Stock Exchange LSEG.L : HSBC raises target price to 9,400p from 8,800p * Persimmon PSN.L : JP Morgan raises
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Reuters - 1 month ago

Continental: in discussion with Volkswagen on Rivian joint venture

Continental: in discussion with Volkswagen on Rivian joint venture Aug 7 (Reuters) - Continental CONG.DE is involved in discussions with Volkswagen and its software unit Cariad on how it could contribute to the carmaker's new joint venture with EV maker Rivian RIVN.O , Continental's Chief Executive said on Wednesday. "We are strongly there and more than happy to support with our platforms going forward...
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Reuters - 1 month ago

Continental: focusing on boosting sales to Chinese customers

Continental: focusing on boosting sales to Chinese customers BERLIN, Aug 7 (Reuters) - Continental CONG.DE is looking to raise the proportion of its sales in China to local customers, despite the Chinese market not growing as fast as previously thought, executives said on Wednesday. "We are focusing clearly on the Chinese OEMs," Chief Executive Nikolai Setzer said on a call with investors following second quarter results.
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Reuters - 1 month ago

Continental rises on Q2 profit, margin beat

BUZZ-Continental rises on Q2 profit, margin beat ** Continental shares rise 3% in early Frankfurt trade after the German automotive supplier's Q2 results beat expectations ** Q2 adjusted EBIT came in at 704 million euros, up 40.6%. Its margin was 7.0%, above expectations of analysts polled by the company of 6.5% ** Although Continental lowered its 2024 outlook on weaker passenger car demand in Europe and North America, it was broadly in line with a consensus for the automotive sector, J.P.
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Reuters - 1 month ago

Continental promises stronger second half as cost-cutting measures sink in

UPDATE 4-Continental promises stronger second half as cost-cutting measures sink in Q2 profits up 40%, beating expectations Sales outlook lowered amid dampened demand Cost-cutting measures starting to take effect: CFO Shares up 5% Adds detail from investor call in paragraphs 1-4 By Victoria Waldersee and Andrey Sychev BERLIN, Aug 7 (Reuters) - Continental CONG.DE delivered better-than-expected results on Wednesday and said the second half of the year would be even stronger as cost-cutting and re
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Reuters - 1 month ago

Continental cuts outlook on weaker European, North American markets

REFILE-Continental cuts outlook on weaker European, North American markets Corrects paragraph 1 day of the week to Wednesday Aug 7 (Reuters) - Continental CONG.DE reported adjusted earnings above analysts' expectations in second-quarter results on Wednesday but lowered its annual outlook because of weaker demand for passenger cars in Europe and tyre replacement in North America.
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Reuters - 1 month ago

Schaeffler not interested in Conti auto division, CEO tells paper

Schaeffler not interested in Conti auto division, CEO tells paper BERLIN, Aug 6 (Reuters) - German machine and car parts maker Schaeffler SHA_p.DE is not interested in a takeover of Continental's automotive division, CEO Klaus Rosenfeld told the Handelsblatt newspaper on Tuesday, adding that the company had "completely other priorities". Continental said on Monday it was exploring a spin-off of its automotive division, which has been struggling for several years with low profitability.
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Reuters - 1 month ago

Companies sell their businesses in Russia

FACTBOX-Companies sell their businesses in Russia Adds HSBC, Danone, Hugo Boss, updates Yandex Aug 6 (Reuters) - Some Western companies have sold their Russian assets or handed them over to local managers to comply with sanctions over the war in Ukraine and respond to threats from the Kremlin that it may seize foreign-owned assets. Below are some companies that have sold their businesses in Russia, divided by sector: AUTOS Continental CONG.DE sold its Russian tyre plant to holding company S8 Cap
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