|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||13.95 - 14.19|
|52 Week Range||10.29 - 19.81|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||7.56|
|Forward Dividend & Yield||0.93 (6.80%)|
|Ex-Dividend Date||Jun 19, 2020|
|1y Target Est||N/A|
Bayer AG sent a private investigator this month to evaluate the business of a U.S. peach grower who won a $265 million court verdict against the company and rival BASF SE, in a bid to overturn the decision, according to court filings. A jury in U.S. District Court for the Eastern District of Missouri in February awarded Bill Bader, Missouri's largest peach farmer, $15 million in actual and $250 million in punitive damages. Bader sued Bayer and BASF, saying his 1,000-acre orchard was irreparably harmed by herbicides drifting onto its trees from nearby farms.
(Bloomberg) -- Some consumer companies beat depressed earnings expectations but the broader outlook for the rest of the year remains murky based on forecasts from chemical producers and banks, particularly with fears of a possible resurgence in virus infections.Gucci-owner Kering SA said it was seeing signs of a recovery through online sales even as its second-quarter revenue plunged. French grocer Carrefour SA was also boosted by a standout performance in its Latin American arm. And though U.K. high street bellwether Next Plc’s sales fell by nearly three-quarters, the expectations were even worse.European companies’ second-quarter reports so far have been good enough to justify the stock market’s rally from the lows in March, though it’s not clear they’re providing fuel for further gains.“Global stock markets appear to be starting to get a little wobbly as the latest earnings numbers start to paint a picture of a global economy that could start to face a challenging time in the weeks and months ahead,” said Michael Hewson, chief market analyst at CMC Markets U.K. A resurgence of virus cases globally “is prompting the realization that hopes of a V-shaped recovery are starting to look like pie in the sky.”German chemicals maker BASF SE poured cold water on recovery hopes as it forecast no significant improvement in earnings in the third quarter and Spain’s Banco Santander SA booked a huge impairment charge as the virus slams key markets.Elsewhere, Deutsche Bank AG reported that its fixed-income results soared in a boost to its turnaround efforts, but its other units are struggling with negative interest rates. Barclays Plc warned on the outlook for U.K. consumers and businesses and housebuilder Taylor Wimpey Plc’s profit was wiped out as the virus shut down construction sites.Key Developments:European stocks are little changed, as gains for retail and real estate shares were offset by declines in autos and banksDeutsche Bank Revamp Gets Another Boost From Trading Rally (2)Gucci Owner Sees Online Leading Recovery After Sales PlungeU.K. Secures Vaccine; U.S. Nears 150,000 Deaths: Virus UpdateHere’s the top virus-related earnings news for today by sector.BanksDeutsche Bank reported its biggest gain in fixed-income trading in nearly eight years, bolstering its turnaround efforts. Catch up with the live blog for Deutsche Bank’s earnings here. DWS Group, the bank’s asset management arm, reported second-quarter net inflows ahead of estimates and said it remains committed to cutting costs. Deutsche Bank shares rose as much as 3.6% before reversing to fall as much as 3%. DWS initially rose too but then fell as much as 3.7%.Barclays Plc warned that consumers and business in the U.K. face mounting challenges as it put aside more provisions for bad loans than expected, offsetting a strong quarter for its investment bank. The stock fell as much as 5.4%. You can catch up with the live blog for Barclays’s earnings here.Banco Santander booked an impairment charge related to the virus that pushed the Spanish lender to a huge loss for the second quarter. The impairment was related to lower anticipated cash flow in its U.K., U.S. and Polish arms and its consumer finance division. Jefferies noted weakness in net interest income and fees. The share fell as much as 5.8% in Madrid.LuxuryKering said it’s seeing signs of a recovery, led by sales online, after revenue for the Gucci owner plunged in the second quarter, albeit by less than estimated. E-commerce sales surged 72% in the period. Bernstein said its earnings topped estimates and the shares rose as much as 6%.Salvatore Ferragamo SpA said it has seen an improvement in sales trends in July after reporting a 47% decline in first-half revenue. Analysts said the sales look disappointing and consensus is likely to be downgraded, but the stock rose as much as 1.5% in Milan.RetailFrench grocer Carrefour SA’s first-half results beat expectations thanks to better-than-expected performances in Spain, Belgium and Brazil, as strict lockdown measures eased in the aftermath of the pandemic. Citi said the Latin American operations were the star. Carrefour rose as much as 2.4% in Paris.U.K. fashion retailer Next’s sales fell by 72% in the second-quarter, not as bad as the 78% decline estimated and with online sales growing. Sales in the quarter were “significantly ahead” of its internal expectations, the company said. Berenberg said the sales beat was driven by online transactions and reopened stores outperforming. Next shares surged in London, rising as much as 10%.German sportswear group Puma AG’s second-quarter loss was narrower than analyst estimates, with sales and gross margins slightly ahead of expectations. Chief Executive Officer Bjorn Gulden called it the “most difficult quarter” of his career and said the threat of more major lockdowns in coming months is “very high,” making it impossible still to provide a 2020 outlook. Morgan Stanley said the update looks in line and Puma rose as much as 4.4%.French pens and shavers maker Societe BIC SA reported a 22% slump in comparable sales growth for the second quarter, citing weak underlying trends worsened by an uneven Covid-19 pandemic impact. BIC rose as much as 7.1% in Paris with analysts praising its cost management.Health CareSanofi raised its 2020 earnings forecast as sales of key drugs like eczema and asthma medicine Dupixent surged, helping to offset any disruption from the pandemic. The French drugmaker also entered into a pact with GlaxoSmithKline Plc to supply Covid-19 vaccine doses to the U.K. Goldman Sachs said the results got a boost from better cost controls. Sanofi rose as much as 1% in Paris.GlaxoSmithKline maintained its 2020 earnings guidance and said second-quarter sales took a hit from the virus disrupting its vaccine business and from destocking in its pharmaceuticals and consumer arms. It added its outlook will be dependent on the timing of any recovery in vaccination rates. The shares fell as much as 1.7%.Medical device maker Smith & Nephew Plc said first-half business was affected by lockdowns, though it noted an improvement in the second quarter as elective surgeries restarted in the U.S. and most European countries, and said China returned to growth in the period. The stock dropped as much as 6.4% and analysts said the update looked “weak.”ChemicalsBASF said it doesn’t expect a significant improvement in third-quarter earnings and said it is still not providing guidance for 2020 owing to the pandemic. Second-quarter sales fell by 12% and the chemicals giant swung to a loss. Baader said the outlook may be taken poorly and the stock fell as much as 5.6%.Polymers and plastics maker Solvay SA’s second-quarter earnings topped expectations despite a hit to sales from weakness in aerospace, autos, oil and gas and construction end markets. It anticipates a challenging third quarter before an improvement thereafter. Solvay shares fell as much as 4.6% and Citi said the investor focus will be on how sustainable the cost cuts Solvay is pursuing are.IndustrialsElectrical power products manufacturer Schneider Electric SE reinstated its 2020 targets and resumed its share buyback program as its organic revenue forecast for the year matched estimates. Its shares rose as much as 5.1% with analysts praising its margins.Irish packaging firm Smurfit Kappa Group Plc reinstated its dividend and said it remains confident in its outlook after reporting a fall in first-half revenue and profit. CEO Tony Smurfit said July has been surprisingly good. Its shares jumped as much as 6.3% in Dublin and analysts said its earnings and box volumes look strong.Dutch oil storage firm Royal Vopak NV’s second-quarter revenue missed estimates and the firm said it cut its cost base in the first half in response to the pandemic disruption. Vopak fell as much as 5.5% in Amsterdam with analysts noting weakness in its chemicals unit and slower delivery of growth projects.AutosAston Martin Lagonda Global Holdings Plc reported a wider first-half loss and free-cash outflows of 371 million pounds ($481 million) as the British carmaker invested in the launch of its all-important DBX sport-utility vehicle. Early signs from China, a key market for sales, are positive. Covid-19 has meanwhile slowed its efforts to reduce dealer stockpiles of its sports cars. The stock rose as much as 11% and Citi said the numbers were marginally ahead of expectations.Travel & LeisureWizz Air Holdings Plc’s first-quarter revenue beat the average analyst estimate as Europe’s third-biggest discount airline also maintained strong market and liquidity positions after a period that marked “one of the most challenging times in the history of aviation,” according to Chief Executive Officer Jozsef Varadi. Wizz shares rose as much as 5.8% and UBS said the quarter was better than anticipated.Spanish airport operator Aena SMA SA said it remains difficult to forecast any trends in traffic given the complexity of the virus crisis as it reported a 65% decline in first-half passenger numbers and swung to a loss. The stock fell as much as 3.3% with Berenberg saying its performance on costs was good but the uncertainty on traffic remains high.ConstructionU.K. homebuilder Taylor Wimpey Plc recorded its first half-year loss since 2009 as the coronavirus lockdown shuttered construction sites and stalled activity in the property market. The loss includes 39 million pounds in additional costs that were directly a result of the pandemic, and total home completions plunged by 58% in the period. The stock slumped in London, falling as much as 9.9% and dragging other homebuilders lower.TechChip-maker AMS AG’s second-quarter earnings beat estimates and it anticipates sales will grow in the third quarter, though this fell short of analyst expectations. Osram Licht AG, the lighting company AMS is acquiring, said profit fell by less than expected due to cost cuts. AMS shares fell as much as 7.3%, while Osram rose as much as 5%.Chip-equipment maker ASM International NV’s third-quarter revenue forecast beat estimates and the firm said it expects its fourth-quarter revenue to hit at least the same level. The stock slumped as much as 7.8% and Kempen flagged up weak order intake.IT services firm Capgemini SA said its first-half revenue rose and it continues to anticipate a gradual recovery for trading in the third and fourth quarters of 2020. Goldman Sachs said the results showed Capgemini’s resilience and the stock rose as much as 4.9% in Paris.TelecomsTelefonica Deutschland Holding AG’s second-quarter earnings came in marginally below estimates but it confirmed its 2020 outlook and said its network expansion plans remain on track. The stock fell as much as 8.6% with analysts saying the guidance is based on an uncertain recovery for roaming revenue.MediaFrench broadcaster Television Francaise 1 SA said its second-quarter advertising revenue fell by 41%, though it said some advertisers have started to return since lockdown restrictions were eased. Goldman Sachs said lower programming costs helped TF1 beat and it rose as much as 4.5% in Paris.Peer Metropole Television SA’s advertising sales in the quarter fell by 26% but analysts said it beat expectations on cost savings. Its shares surged as much as 9.3%.FinancialsJupiter Fund Management Plc said investors were starting to return to the asset manager despite a challenging first half. While clients pulled 2 billion pounds in the six-month period, the second quarter saw a return to moderate inflows driven by its fixed-income strategy and the reversal in markets. The stock rose as much as 3.9% and Citi said its profit came in 6% ahead of consensus.Business ServicesFrench testing and inspection firm Bureau Veritas SA’s first-half revenue beat expectations, though it swung to a loss for the period. It said around a fifth of its revenue, in certification and consumer products, was severely hit by virus lockdowns. The share fell as much as 5% in Paris with Barclays flagging the underperformance of its consumer business.Metals & MiningRio Tinto Plc raised its dividend despite a decline in first-half earnings as strong iron ore prices helped to offset the pandemic’s impact on copper and aluminum. The group said demand for iron ore in China has remained strong. The stock rose as much as 1.9% in London.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Germany's BASF said on Wednesday its dividend policy and the value of assets on its balance sheet might be revised given uncertainty caused by the coronavirus crisis, particularly in North America and Europe. The policy of the world's largest chemicals and plastics maker by sales to increase dividends each year and its longer term target of lifting adjusted core earnings by 3%-5% annually were under review, Chief Executive Martin Brudermueller said. More write downs, similar to the 800 million euro ($903 million) impairment German energy group Wintershall DEA unveiled this month, could also be on the cards for BASF in the next two quarters, finance chief Hans-Ulrich Engel warned.