stocks, news, data and earnings – Life Changer

stocks, news, data and earnings

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33 Mins Ago

Unilever shares rise further, up 5.5%, as turnaround momentum builds

A customer selects bar of Dove soap, a Unilever product, at a Sainsbury’s supermarket in London, U.K.

Bloomberg | Getty Images

Unilever shares continued their rise in late morning deals, trading up 5.5% by 11:00 a.m. London time, on strong first-quarter sales.

Chris Beckett, head of equity research at Quilter Cheviot, said in a note Thursday that the sales uptick indicated the company was “on the cusp” of a turnaround as its seeks to entice consumers back to its branded products.

“The new management has come in and is following the playbook set out by Proctor & Gamble – that is focus on large ‘power brands’ which can help drive growth. It’s early days but so far the strategy is working, and should this trend continue, then Unilever is on course for a re-rating by the market,” Beckett said.

“Unilever has had a lot of false dawns previously, but this time it feels there is more coherence behind the strategy. Expectations are low and easily clearable, so should we see this continue for a couple more quarters, momentum will begin to get behind the company once again,” he added.

— Karen Gilchrist

2 Hours Ago

Stocks on the move: Unilever rises 4% on sales uptick; Nestle falls 3.8%

Hellmann’s, a brand of Unilever, is seen on display in a store in New York, March 24, 2022.

Andrew Kelly | Reuters

Shares of Unilever climbed 4% after the consumer goods company reported a larger-than-expected uptick in sales in the first quarter.

Sales rose 4.4% in the first three months of the year as CEO Hein Schumacher continues his plans to return shoppers to premium brands as inflationary pressures ease.

Meanwhile, Swiss food and drink company Nestle fell 3.8% after it reported a 5.9% fall in reported sales for the first quarter to 22.1 billion Swiss francs ($24.18 billion).

— Karen Gilchrist

3 Hours Ago

European stocks open lower

European stocks opened slightly higher Wednesday, with the benchmark Stoxx 600 index down 0.2% by 8:15 a.m. London time.

The U.K.’s FTSE 100 climbed 0.5% after it snapped a five-day winning streak on Thursday, while France’s CAC 40 was 0.2% lower, and Germany’s DAX down 0.5%.

3 Hours Ago

Miner Anglo American said it received a buyout offer from BHP Group

Mining firm Anglo American on Thursday said it had received an “unsolicited, non-binding and highly conditional combination proposal” for an all-share takeover by Australia’s BHP Group.

The proposal values Anglo American’s share capital at £31.1 billion ($38.87 billion). It would entail demergers of Anglo American’s shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American shareholders.

Anglo American said it was reviewing the proposal.

CNBC has reached out to BHP Group for comment.

— Jenni Reid

3 Hours Ago

Nestle sales slow

Cheerios, Nescafe, Nesquik, KitKat, Milkybar and Purina products, manufactured by Nestle SA, arranged in London, U.K., on Monday, July 26, 2021.

Bloomberg | Bloomberg | Getty Images

Food and drinks giant Nestle reported a 5.9% fall in reported sales for the first quarter to 22.1 billion Swiss francs ($24.18 billion), with a significant drag from the North American market.

Organic sales growth was 1.4%, below analyst expectations.

North America reported sales growth dropped 7.7%, while Europe fell 5%.

By product, prepared dishes and cooking aids had the sharpest declines, while pet care and confectionary saw solid growth.

The company reiterated its 2024 outlook for organic sales growth of around 4% and a “moderate increase” in its operating profit margin.

See Chart…

Nestle share price.

4 Hours Ago

Barclays returns to profit in first quarter

16 September 2023, USA, New York: The Barclays Bank logo, taken in Manhattan.

Michael Kappeler | Picture Alliance | Getty Images

Barclays on Thursday reported first-quarter net income attributable to shareholders of £1.55 billion ($1.93 billion), beating expectations and returning the British lender to profit following a major strategic overhaul.

Analysts polled by Reuters had expected net profit attributable to shareholders of £1.29 billion for the quarter, according to LSEG data.

Net income for the first quarter 2023 was $1.78 billion.

Read more here.

— Karen Gilchrist

4 Hours Ago

Deutsche Bank reports 10% profit rise in first quarter

Bloomberg | Bloomberg | Getty Images

Deutsche Bank on Thursday reported 1.275 billion euros ($1.365 billion) in net profit attributable to shareholders in the first quarter, marking a 10% annual increase.

Analysts had forecast a result of 1.23 billion euros for the period, according to LSEG data.

Revenue rose 1% year on year to 7.8 billion euros, which the bank attributed to growth in commissions and fee income, along with strength in fixed income and currencies. The revenue print also came in ahead of an analyst forecast of 7.73 billion euros, according to LSEG.

— Jenni Reid

Wed, Apr 24 2024 12:11 AM EDT

CNBC Pro: ‘Greater tailwind than the U.S.’: Morningstar strategist is betting on these 7 stocks in Europe

Attractive returns and the breadth of opportunities are among the many reasons why investors have historically preferred to invest in the U.S. over Europe.

One strategist, however is looking keenly at European equities, and notes that “Europe isn’t a boring market.”

There’s a huge element of growth, [and investors] just have to dig a little bit deeper than in the U.S. where it’s extremely easy to find the growth names at the moment,” Michael Field, Morningstar’s Europe Market Strategist said.

“Europe is structuring. If you look at the macroeconomic environment at the moment, there could potentially be a greater tailwind for European equities than those in the U.S.” he added, naming stocks he likes right now.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

10 Hours Ago

CNBC Pro: Standard Chartered doubles down on its prediction that bitcoin will reach $150,000 by the end of the year

Bitcoin is set for more price gains later this year, even after a recent retreat in prices, according to Standard Chartered’s top crypto analyst.

Geoffrey Kendrick, head of foreign exchange research, West, and digital assets research at Standard Chartered, said in a research note this week that he sees bitcoin rising to $150,000 per coin, and ether hitting $8,000 by the end of 2024 — doubling down on a bullish prediction from the bank earlier this year. 

CNBC Pro subscribers can read more here.

— Ryan Browne

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