Morning News | Swissquote

Foxconn Set to Expand iPhone Production in India

Apple Inc.'s main manufacturer, Foxconn Technology Group, is considering a major expansion in India, including possibly assembling millions more iPhones and setting up new production sites as it seeks to further diversify beyond China. Foxconn is set to expand production of iPhones at its existing plant near Chennai, in the southern Indian state of Tamil Nadu, people familiar with the matter said. It aims to boost iPhone production to around 20 million units annually by 2024, and roughly triple the number of workers to as many as 100,000, said the people, including a senior Indian government official.

06.03.2023

HPE beats on sales, earnings estimates, sending stock up

Hewlett Packard Enterprise Co.’s stock climbed more than 6% in extended trading Thursday after the computing giant reported quarterly results that beat analyst revenue and earnings estimates. HPE HPE reported fiscal first-quarter net earnings of $501 million, or 38 cents a share versus a net loss of $304 million, or 23 cents a share, in the year-ago quarter. Adjusted earnings were 63 cents a share. Net revenue was $7.8 billion, up 12% from $6.96 billion a year ago.

03.03.2023

Swiss Life Group 2022 Earnings Improve, Lifts Annual Dividend

Swiss Life Holding AG on Wednesday posted an increase in earnings for the year 2022, amidst a rise in fee result. Patrick Frost, CEO of the Swiss Life Group, pointed out: 'Swiss Life performed very well in an economically challenging year. I am particularly pleased with the growth path for the fee result and the cash remittance to the holding company, which will enable a further increase in the dividend.’ For the 12-month period, the Zurich-headquartered firm reported a profit of CHF 1.46 billion, compared with CHF 1.25 billion of 2021. Adjusted profit from operations was at CHF 2.06 billion, higher than last year's CHF 1.81 billion.

02.03.2023

FINMA Concludes Proceedings Against Credit Suisse Related To Lex Greensill

The Swiss Financial Market Supervisory Authority or FINMA, announced it has concluded its enforcement proceedings against Credit Suisse Group (CS) in connection with its business relationship with financier Lex Greensill and his companies. FINMA finds that Credit Suisse seriously breached its supervisory obligations in this context with regard to risk management and appropriate organizational structures. FINMA has ordered remedial measures.

01.03.2023

Zoom Revenue Up on Growth From Big Customers

Zoom Video Communications Inc. posted higher sales in the fourth quarter on strong growth from enterprise customers and forecast profit ahead of Wall Street expectations. The videoconferencing company said sales grew 4% to $1.12 billion, just ahead of the $1.1 billion expected by analysts recently polled by FactSet. Enterprise revenue rose 18% compared with last year, while online revenue, which measures individual customers, fell 10%. Looking ahead, Zoom guided for adjusted profit for the current quarter and coming year ahead of Wall Street estimates, although its sales forecasts came in short. Shares rose more than 5% in aftermarket trading.

28.02.2023

U.S. Inflation edges higher

Inflation firmed and consumers stepped up spending in January, likely leaving the Federal Reserve on track to keep raising interest rates in coming months to cool price pressures. The personal-consumption expenditures price index—the Fed’s preferred gauge of inflation—rose 5.4% in January from a year earlier, up from 5.3% in December, the Commerce Department said Friday. The core PCE-price index, which excludes food and energy prices, rose 4.7%, also ticking up from December. The central bank aims for 2% annual inflation. Spending by U.S. households rose a seasonally adjusted 1.8% in January from the prior month, the largest increase in nearly two years, and a reversal from a small decrease in December.

27.02.2023

Holcim: Strong Performance and Successful Transformation in 2022

Swiss building materials firm Holcim Group (HCMLY.PK, HCMLF.PK) reported Friday that its fiscal 2022 net income Group share reached 3.31 billion Swiss francs, up 44 percent from last year's 2.30 billion francs. Earnings per share were 5.48 francs, a growth of 47 percent from 3.73 francs a year ago. Adjusted earnings per share were 3.66 francs, compared to 3.98 francs last year. Adjusted earnings per share before the resolution with the US Department of Justice increased 24.6 percent at 4.96 francs.

24.02.2023

David VERELST

Schindler profit dragged down by past commitments and China slowdown

Schindler, the Swiss manufacturer of lifts, struggled last year with past commitments, the downturn in China, supply chain problems and inflation. The lift and escalator manufacturer's profits plummeted. In the current year, things should start to look brighter again. Operating profit (EBIT) plummeted by 22.5 per cent to 904 million Swiss francs, as the group announced in a communiqué. This is the first dip below the billion-franc mark and the worst result in a decade.

23.02.2023

Walmart Posts Strong Earnings as Shoppers Look for Discounts

Walmart reported strong quarterly sales as cash-strapped shoppers gravitated to the discount retailer for food and other essentials and continued to pay higher prices on many items compared with last year. However the company provided a muted outlook for the coming year, saying that there is much uncertainty and that customers are being more cautious about spending, particularly on nonfood items. U.S. comparable sales, those from stores and digital channels operating for at least 12 months, rose 8.3% in the quarter ended Jan. 27, compared with the same period last year.

22.02.2023