Beiersdorf AG forecast a sluggish fiscal year as the German company struggles to revive its flagship Nivea brand and contends with a slowdown in the skincare market. The shares plunged as much as 12% in early Frankfurt trading, wiping out this year’s gains, after the company said its profit margins will probably decline and sales will likely show little change. Beiersdorf underlined Nivea’s strugg...
Beiersdorf AG forecast a sluggish fiscal year as the German company struggles to revive its flagship Nivea brand and contends with a slowdown in the skincare market. The shares plunged as much as 12% in early Frankfurt trading, wiping out this year’s gains, after the company said its profit margins will probably decline and sales will likely show little change. Beiersdorf underlined Nivea’s struggles, saying it was hit by a broader slowdown and a restructuring of the business in China last year. The outlook is weaker than expected and Nivea’s latest results are concerning, analysts said. “The miss for the Nivea brand in the fourth quarter will worry the market,” Jefferies analysts including David Hayes wrote in a note. Chief Executive Officer Vincent Warnery has been working to revive the company’s biggest brand with new products focused on face care such as the Nivea Epicelline line. Beiersdorf also makes adhesive products for the automotive industry.
Oil and gas traders have spent days scrambling for alternative sources of supply to Asia outside of the Middle East on concerns a prolonged conflict could choke off flows from the energy-rich region. Some liquefied natural gas traders spent all night Monday speaking to contacts about available supply after Iranian attacks closed the world’s biggest export plant in Qatar, said people familiar with ...
Oil and gas traders have spent days scrambling for alternative sources of supply to Asia outside of the Middle East on concerns a prolonged conflict could choke off flows from the energy-rich region. Some liquefied natural gas traders spent all night Monday speaking to contacts about available supply after Iranian attacks closed the world’s biggest export plant in Qatar, said people familiar with the matter. Importers in China, India and Japan have all inquired about other sources of oil and LNG, they said. The escalating conflict in the Middle East, sparked by the US and Israeli strikes on Iran over the weekend, has rattled energy markets and driven up prices for crude and gas. Shipping through the Strait of Hormuz has all but ground to a halt, while attacks also forced Saudi Arabia’s largest oil refinery to close. Some buyers of LNG, including Taiwan, requested suppliers deliver cargoes in March, a month early, the people said, asking not to be identified because they’re not authorized to speak to the media. The island, along with South Korea, are now seeking to secure fuel from other regions. Asian nations, including China, have stockpiles of crude and LNG that will help to buffer any short-term disruptions, but a sustained conflict threatens to quickly drain those supplies. Alternatives outside of the Middle East will likely be more expensive, with bloated freight rates adding to spiraling costs for importers. For LNG, alternatives include a small array of product flowing from the US — the world’s biggest producer — to Europe, which can easily be re-routed toward Asia mid-journey. There’s also supply from Australia, which recently sent a rare shipment all the way to Canada because of subdued Asian demand. For buyers of oil, there are stockpiles of Middle Eastern crude in locations such as Japan’s Kiire and Okinawa, which regional refiners can draw from. Kiire has capacity to store more than 46 million barrels, while Okinawa can hold more than 8 million barrels. ...
Greggs Plc reported a slump in profit last year as the British high street bakery chain battles weak consumer sentiment. Pretax dropped 18% to £167 million ($223 million) when including a restatement of value-added tax, it said Tuesday. Like-for-like sales in the first nine weeks of 2026 rose 1.6%, a slowdown from last year. Greggs shares declined as much as 3.9% in early Tuesday trading in London...
Greggs Plc reported a slump in profit last year as the British high street bakery chain battles weak consumer sentiment. Pretax dropped 18% to £167 million ($223 million) when including a restatement of value-added tax, it said Tuesday. Like-for-like sales in the first nine weeks of 2026 rose 1.6%, a slowdown from last year. Greggs shares declined as much as 3.9% in early Tuesday trading in London. The stock has fallen by more than a quarter over the past year. The fast-food chain ended 2025 as the most-shorted UK stock, with Chief Executive Officer Roisin Currie forced to defend the company’s expansion. The baker, known for its sausage rolls and steak bakes, is sticking to a plan to expand to more than 3,000 shops in the UK over the long term, including an additional 120 this year. Read More: Greggs Tests Limit of Britain’s Appetite for Its Sausage Rolls There’s “little to shout about” in the results, with sales slowing so far this year, Shore Capital analyst Darren Shirley wrote in a note. The company still expects profit to be flat this year, with any improvement dependent on a broader boost to consumer spending. Greggs also flagged a £4.5 million provision for a historic understatement of VAT, which it said it identified and reported to the UK tax authorities during the year.
Key Points Apple just expanded its smartphone lineup with a new entry-level device starting at $599. The company's core smartphone business generated a staggering $85.3 billion in its latest quarter. The iPhone business accounted for nearly 60% of Apple's fiscal first-quarter revenue. 10 stocks we like better than Apple › "iPhone had its best-ever quarter driven by unprecedented demand, with all-t...
Key Points Apple just expanded its smartphone lineup with a new entry-level device starting at $599. The company's core smartphone business generated a staggering $85.3 billion in its latest quarter. The iPhone business accounted for nearly 60% of Apple's fiscal first-quarter revenue. 10 stocks we like better than Apple › "iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment," said CEO Tim Cook in the company's fiscal first-quarter earnings release. Now, Apple (NASDAQ: AAPL) is trying to keep that momentum going. The tech giant announced its new iPhone 17e on Monday. Starting at $599 for a base model with 256 gigabytes of storage, the new device lowers the entry price for the company's latest smartphone family. For comparison, the standard iPhone 17 starts at $799. With the new iPhone, Apple is effectively offering double the entry storage of its previous budget model -- the iPhone 16e -- at the exact same starting price. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » This aggressive pricing strategy adds to the catalysts for Apple's largest product segment, which is already firing on all cylinders this year. Why the iPhone segment is still key to Apple's growth story Highlighting why keeping its iPhone segment fresh is key, the segment is Apple's biggest -- by far. In fiscal Q1, which ended on Dec. 27, 2025, iPhone revenue surged 23% year over year to $85.3 billion -- accounting for about 59% of Apple's total quarterly revenue of $143.8 billion. And for the full year of fiscal 2025, iPhone accounted for 50% of revenue. The new iPhone 17e could play an important role in helping this segment continue to grow nicely as the fiscal year progresses. To drive meaningful top-line growth, Apple needs products that reach every segment of it...
Andrii Dodonov/iStock via Getty Images Performance factors The fourth quarter ended up providing a more stable environment for the municipal bond market as total return for the Fund matched the Bloomberg Municipal Bond Index. The lack of economic data due to the government shutdown likely subdued movements in the yield curve, while information pertaining to inflation and job creation was delayed. ...
Andrii Dodonov/iStock via Getty Images Performance factors The fourth quarter ended up providing a more stable environment for the municipal bond market as total return for the Fund matched the Bloomberg Municipal Bond Index. The lack of economic data due to the government shutdown likely subdued movements in the yield curve, while information pertaining to inflation and job creation was delayed. In the fourth quarter of 2025, the municipal yield curve saw the long end rally while the front end backed up. However, this more subtle flattening of the curve could not make up for the significant curve steepening that characterized the first half of 2025. Positioning on the yield curve was the determining factor for performance in the municipal bond market throughout 2025. The belly of the curve was the winner, while the long end of the curve struggled to keep up. The Fund lagged in 2025 due to its higher allocation of bonds at the long end of the yield curve. Sector returns for the fourth quarter were largely uniform. There was modest underperformance from pre-refunded, industrial development, and pollution control bonds. These sectors do not comprise large holdings in the portfolio. The Fund's position in Buckeye Tobacco Settlement bonds performed poorly in the quarter and for the year. The bonds are part of a very large, highly liquid, issuance in the high yield market and can exhibit price volatility. During the year, the Fund trimmed its holdings in the hospital and toll road sectors, while at the same time increasing holdings of the electric, gas prepayment and airport bonds. Larger issuance in those three sectors during 2025 offered a chance to diversify sector exposure. Bonds with 4% coupons are still lagging in performance, having had a rough year with their longer duration. A positive attribute of these bonds is their current convexity, with plenty of room to rally before they price to a call. We actively continue to evaluate coupon structures and seek to find ...
frankpeters Fitch Ratings has downgraded Paramount Skydance’s ( PSKY ) corporate and long-term borrower ratings to junk after the company agreed to acquire larger rival Warner Bros. Discovery ( WBD ). The deal is expected to leave the combined entity with roughly $79B in net debt. Fitch downgraded Paramount Skydance and Paramount Global’s ( PSKY ) Long-Term Issuer Default Ratings (IDR) to BB+ from...
frankpeters Fitch Ratings has downgraded Paramount Skydance’s ( PSKY ) corporate and long-term borrower ratings to junk after the company agreed to acquire larger rival Warner Bros. Discovery ( WBD ). The deal is expected to leave the combined entity with roughly $79B in net debt. Fitch downgraded Paramount Skydance and Paramount Global’s ( PSKY ) Long-Term Issuer Default Ratings (IDR) to BB+ from BBB-, pushing the company from the lowest rung of investment grade into junk status. The agency also cut the Short-Term IDR to B from F3. In addition, Fitch lowered PSKY’s senior unsecured debt rating to BB+ from BBB-, assigning a Recovery Rating of RR4. The agency has placed all the ratings on negative watch to reflect uncertainty related to the proposed acquisition of Warner Bros, with potential credit risks including the prospective debt-funded structure, Fitch's expectation of materially elevated leverage, and limited visibility on post-transaction financial policy and capital structure. “The downgrade reflects competitive pressures across the media sector and continued FCF headwinds from significant transformation costs. Fitch believes PSKY's leverage and FCF may remain outside negative rating sensitivities longer than we anticipated,” the agency said . Paramount ( PSKY ) agreed to buy Warner Bros. ( WBD ) last week in a $31 a share takeover. With a total value of $110B, it’s one of the biggest mergers and media deals of all time. Fitch expects to resolve the RWN once final transaction terms, financing mix, and post-close deleveraging priorities become clearer. More on Paramount Skydance Corporation, Warner Bros. Discovery Paramount Skydance: Be Careful What You Wish For, Mr. Ellison Warner Bros. Discovery, Inc. (WBD) M&A Call Transcript The Long Netflix, Short Paramount Trade: Sounds Great, Trades Terribly Paramount CEO says WBD merger will help keep linear TV assets afloat Paramount CEO reaffirms 30 films/year after Warner merger