Glencore's Steelmaking Coal Production Jumps But Gold, Copper Output Falls
The Anglo-Swiss commodity mining and trading company produced 15.7 million metric tons of steelmaking coal in the first half of the year, more than quadruple the 3.4 million tons it produced in the same period of last year. This follows the integration of Elk Valley Resources business, which it acquired in July 2024, it said.
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CNBC
32 minutes ago
- CNBC
Stocks making the biggest moves premarket: Hanesbrands, On Holding, Circle, BigBear.ai and more
Check out the companies making headlines before the bell: Hanesbrands , Gildan Activewear — The T-shirt maker surged more than 42% after the Financial Times reported , citing people familiar with the matter, that Hanesbrands was nearing a deal to be acquired by Gildan for nearly $5 billion. Gildan shares slid more than 5%. Sinclair — Shares soared more than 18% after Sinclair, one of the largest owners of television stations, started a strategic review of its business that could result in a merger or spinoff of its Ventures business. On Holding AG — U.S. shares of the Swiss sportswear company rallied about 11%. On reported second-quarter revenue of 749 Swiss francs, exceeding the expectation for 705 million francs from analysts polled by LSEG. The company also hiked its full-year revenue guidance. Celanese — The chemical manufacturer tanked 15% after the company's CEO said demand remains weak and uncertain, overshadowing a second quarter earnings beat. — The IT service management company plunged more than 30% after disappointing second quarter results. lost 71 cents per share, more than a loss of 6 cents per share estimated by analysts polled by FactSet. Revenue of $32.5 million trailed the Street's $40.6 million forecast. Circle Internet Group — The stablecoin issuer reported strong revenue growth in its first quarterly earnings as a publicly-traded company. The stock rose more than 6%. Intel — President Trump called the CEO Lip-Bu Tan a "success" days after demanding his resignation. Intel shares rose 2% in premarket trading. The semiconductor maker has been in Trump's crosshairs, who has gone back and forth in his approach to the CEO. Nvidia — The chipmaker was slightly lower Tuesday. President Trump said he's open to allowing Nvidia to sell a downgraded version of its most advanced artificial intelligence chip to China. Apple — The iPhone maker was lower by almost 1% after Tesla CEO Elon Musk on Monday threatened legal action against Apple over alleged antitrust violations on rankings of the Grok AI chatbot app that's owned by Musk's artificial intelligence startup xAI. Tesla rose 0.5%. — CNBC's Alex Harring, Fred Imbert and Yun Li contributed reporting
CNBC
3 hours ago
- CNBC
More European companies are shunning high-stakes deals in favor of smaller M&As
Flush with cash from a period of resilient earnings, a growing number of European companies are shunning high-stakes deals in favor of smaller and targeted "bolt-on" acquisitions to pursue growth. Executives from industrial giants to consumer goods firms are deploying capital on strategic deals designed to snap up competitors and acquire technologies instead of staking their reputations on major deals that run the risk of never materializing. It's a strategy that is allowing firms to pursue growth without the immense risks and regulatory headaches that have scuttled larger deals. "This is a time again as part of playing offense, where we're definitely considering what M & A might be on the table," Hanneke Faber, CEO of Swiss-American hardware maker Logitech , told CNBC's " Squawk Box Europe " after announcing its first-quarter results. The company sits on a $1.5 billion cash pile with no debt, with Faber adding that mergers and acquisitions are a key pillar of the company's capital allocation policy. That sentiment is echoed across the continent. DWS Group , a German asset manager, described a similar posture of patient hunting. "We are in a position of strength. We have 800 million of excess capital and counting," Markus Kobler, DWS' chief financial officer, told CNBC in July. "We don't feel pressurized that we have to do something... but we look at targets." That approach stands in stark contrast to the high-stakes drama surrounding larger potential tie-ups. In the energy sector, Shell CEO Wael Sawan pushed back against the "bigger is better" logic driving consolidation among his U.S. rivals. "I don't buy bigger is better. I think you have to drive it from a value perspective," Sawan told CNBC, noting that the bar for any large deal is exceptionally high. A deal between BP and Shell , two of the U.K.'s largest oil and gas firms, would have likely attracted the attention of competition regulators. Instead, the company chose to do smaller transactions, such as the $510 million deal with France's TotalEnergies to buy its stake in a Nigerian offshore oilfield earlier this year. Sawan said those are the type of deals that can help Shell "grow without having to do a big splash." Sawan is not alone in rethinking large-scale M & As. In Italy, UniCredit CEO Andrea Orcel recently abandoned a bid for rival Banco BPM after the deal became a "drag," with one too many political obstacles. "Given the situation on golden power, there was no other place to go, and at some point, you need to catch your losses, eliminate your drag, and focus on what you control," Orcel told CNBC, referring to the Italian government's power to block deals in strategic sectors. UniCredit is also engaged in a transaction involving the potential takeover of Germany's Commerzbank , which is facing significant political pushback. The uncertainty and increased risks around high-stakes deals have made bolt-on strategies more appealing for executives. French building materials giant Saint-Gobain has made them a core part of its business model. "Large, transformative acquisitions, that's not really our play," Maud Thuaudet, Saint-Gobain's CFO, told CNBC earlier this month. "We are much more into being very selective, very value accretive in terms of how this complements country by country, our portfolio of customers and technologies." The company announced that three such deals made in Canada, Peru and Italy were closed in a single week in July, on top of larger acquisitions in Australia and Latin America. For Swiss fragrance and flavor maker Givaudan , it's about acquiring customer books and new capabilities. "This is really part of the strategy of Givaudan, which is around the bolt-on acquisitions, to buy small competitors, which give us a very nice and interesting portfolio of clients that we don't necessarily have, and the two, combined with Givaudan, is a great way to grow," said CEO Gilles Andrier. The company recently bought a makeup firm in Italy and a fragrance competitor in Brazil. Givaudan, which also operates a pet care division, said it is openly scouting for deals in the pet food space. "If there would be an asset in pet food, we'll be happy to try to buy it," Andrier added. Dutch grocer Ahold Delhaize , which has been the subject of rumors about a potential mega-merger with France's Carrefour in late 2024, pointed instead to its recent 1.3 billion euro ($1.5 billion) acquisition of Romanian supermarket chain Profi as proof of its active M & A strategy. "We also look at other opportunities to grow the company inorganically through M & A, and that's why we are always looking at what we can do in Europe and the US," said chief executive Frans Muller. "We have an active view on that. We have a strong balance sheet where we have the strength to do these kinds of things." "We're actively looking and where things fit our strategy agenda and fit also, let's say, the right economic values, we are open to these kinds of things," Muller added. Executives are also keenly aware of the operational burdens that M & As can create in integrating the acquired business into their own firms, highlighting the attractiveness of smaller deals. German automotive and industrial supplier Schaeffler is still digesting its large acquisition of Vitesco Technologies, a deal that closed just last year. "We have our hands full with that integration," said CEO Klaus Rosenfeld, admitting the company has little room for further M & A risk. "If you think about the complexity that has been triggered by that acquisition, we need to bring that further down," Rosenfeld added. "We also have a leverage situation that is still okay, but there's not much [room to maneuver]. So we are, at the moment, very cautious in looking at future acquisitions." — CNBC's Juliana Tatelbaum, Karen Tso, Steve Sedgwick, Silvia Amaro, Annette Weisbach, and Carolin Roth contributed reporting.
Business Wire
4 hours ago
- Business Wire
Swiss Firms Seek Partners to Fight Cybersecurity Threats
ZÜRICH--(BUSINESS WIRE)--Enterprises in Switzerland, under immense pressure to strengthen cybersecurity, increasingly turn to external services for resources and strategies, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm. An ISG Provider Lens® report says talent shortages and rising cyberattacks are increasing demand in Switzerland for external services, as companies grow more dependent on IT system defenses. Cybersecurity is now a core element of business resilience. The 2025 ISG Provider Lens ® Cybersecurity – Services and Solutions report for Switzerland finds that Swiss companies are facing a surge of sophisticated cyberattacks that often outpace traditional defenses. Though not always publicized, ransomware attacks are also on the rise, creating additional challenges for organizations already struggling with a shortage of cybersecurity specialists. Enterprises are engaging external providers, particularly security operations centers, and adopting AI-driven security measures to address these risks. 'With the increasing need to protect essential systems in Swiss enterprises, IT security has evolved into corporate security,' said Uwe Ladwig, managing director, ISG. 'Remote work, including the widespread use of home offices, makes organizations more vulnerable to attacks.' Digitalization initiatives have made Swiss organizations more dependent on IT infrastructure and made cybersecurity a core element of business resilience, the report says. The move to cloud-based operations, coupled with the hybrid work modes, has led a growing number of companies to adopt advanced security models such as zero trust. Enterprises are moving beyond traditional perimeter defenses, implementing continuous network monitoring and mutual authentication as standard practices. Legal and regulatory pressures, particularly those related to data protection, are also shaping enterprise priorities in Switzerland, ISG says. Organizations are strengthening their cybersecurity frameworks to comply with evolving regulations and safeguard sensitive information, particularly in banking and financial services. To meet these needs, many enterprises are seeking providers that emphasize 'Swissness' — the development and delivery of IT products and services within Switzerland — for both compliance and cultural alignment. Small and midsize enterprises (SMEs) in Switzerland often have less mature cybersecurity systems than larger organizations, making it necessary to upgrade their defenses as threats and regulations expand. These needs are driving above-average growth in demand for modern cybersecurity solutions in the SME segment, the report says. Swiss SMEs especially value clear communication and cultural understanding by providers, and they are more likely to engage with partners that appreciate their unique requirements and operating environments. 'Both large and midsize clients in Switzerland increasingly seek managed security providers that use AI and automation, in addition to human expertise and experience, to efficiently address evolving threats,' said Frank Heuer, principal analyst and lead cybersecurity analyst DACH, ISG Provider Lens Research, and lead author of the report. 'They also seek advisory support, especially for AI and quantum-based risks, to stay ahead of cybercriminals.' The report also explores global cybersecurity technology trends affecting Swiss enterprises, including increasing adoption of IAM, extended detection and response (XDR) and security service edge (SSE). For more insights into cybersecurity-related challenges that enterprises face in Switzerland, along with ISG's advice for addressing them, see the ISG Provider Lens ® Focal Points briefing here. The 2025 ISG Provider Lens ® Cybersecurity – Services and Solutions report for Switzerland evaluates the capabilities of 97 providers across eight quadrants: Identity and Access Management (Global), Extended Detection and Response (Global), Security Service Edge (Global), Technical Security Services, Strategic Security Services, Next-Gen SOC/MDR Services, Next-Gen SOC/MDR Services –Large Accounts and Next-Gen SOC/MDR Services – Midmarket. The report names IBM as a Leader in six quadrants. It names InfoGuard and Swisscom as Leaders in five quadrants each. Accenture, Atos, Deutsche Telekom and HCLTech are named as Leaders in four quadrants each. Capgemini, iSPIN, UMB and Wipro are named as Leaders in three quadrants each. Aveniq, Broadcom, Fortinet, Microsoft, Orange Cyberdefense, Palo Alto Networks, TCS and United Security Providers are named as Leaders in two quadrants each. Axians, Bechtle, Cato Networks, Check Point Software, Cisco, CrowdStrike, CyberArk, Deloitte, DXC Technology, EY, Forcepoint, Infosys, KPMG, Kudelski Security, ManageEngine, Netskope, Okta, One Identity (OneLogin), Ping Identity, SailPoint, Saviynt, SentinelOne, Trellix, Trend Micro, Versa Networks, Wavestone and Zscaler are named as Leaders in one quadrant each. In addition, UMB is named as a Rising Star — a company with a 'promising portfolio' and 'high future potential' by ISG's definition — in two quadrants each. BeyondTrust, HPE (Aruba), Open Systems, Orange Cyberdefense and Sophos are named as Rising Stars in one quadrant each. In the area of customer experience, PwC is named the global ISG CX Star Performer for 2025 among cybersecurity services and solution providers. PwC earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry. Customized versions of the report are available from Deutsche Telekom, InfoGuard and Swisscom. The 2025 ISG Provider Lens ® Cybersecurity – Services and Solutions report for Switzerland is available to subscribers or for one-time purchase on this webpage. About ISG Provider Lens ® Research The ISG Provider Lens ® Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage. About ISG ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world's top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.
