Latest news with #OtisWorldwide
Yahoo
3 days ago
- Business
- Yahoo
Otis Worldwide Corporation (OTIS) Has A Lot Of China Revenue, Says Jim Cramer
We recently published . Otis Worldwide Corporation (NYSE:OTIS) is one of the stocks Jim Cramer recently discussed. Otis Worldwide Corporation (NYSE:OTIS) is a specialty industrial equipment company that deals with elevators, escalators, and associated products. Its shares have lost 3% year-to-date, primarily due to a major 12.3% drop in July. The stock fell after Otis Worldwide Corporation (NYSE:OTIS)'s second-quarter earnings results saw its $3.61 billion revenue miss analyst estimates of $3.71 billion. Additionally, the firm's New Equipment business saw China sales fall by 20%. Cramer quoted Otis Worldwide Corporation (NYSE:OTIS)'s CEO as saying that the business remains strong: 'Otis, look I'm, Judy Marks is going to come on Mad Money, and she has held in and done great things. And they've had a lot of service revenue, including China. She'd tell you over and over again that that business remains very strong. So I have to find out more, that was a very tough hit. Very good company. That's a spinoff of United Technologies. Pixabay / Public Domain Back in 2024, Cramer had asserted that Otis Worldwide Corporation (NYSE:OTIS) could overcome Chinese weakness due to its presence in the repair and refurbishment market: 'Otis Worldwide's up 121% since the breakup — thank you, Judy Marks — gives you 134% total return including dividends. The elevator business is now worth nearly $40 billion all on its own. Look, a lot of people think of Otis as a traditional movement play — cyclical, hostage to new construction — but in reality the company gets the vast bulk of its money from servicing and repairing existing elevators, which is why even though China's soft, you still got to repair them.' While we acknowledge the potential of OTIS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
6 days ago
- Business
- Globe and Mail
Shareholders Alert: Investigation Into Otis Worldwide Corporation (OTIS) - Contact Levi & Korsinsky to Protect Your Rights
New York, New York--(Newsfile Corp. - July 23, 2025) - Levi & Korsinsky notifies investors that it has commenced an investigation of Otis Worldwide Corporation ("Otis Worldwide Corporation") (NYSE: OTIS) concerning possible violations of federal securities laws. On July 23, 2025, Otis reported its second quarter fiscal 2025 earnings, unveiling net sales for the quarter of $3.6 billion that fell below analysts' expectations for $3.71 billion. Management noted that new-equipment sales declined 10%, worse than the market feared, in the quarter, triggering the company to reduce their annual guidance from $14.6 - $14.8 billion down to $14.5 - $14.6 billion in the second quarter. While the Company largely blamed the setback on challenges in China, in which new equipment sales fell 20% in the quarter, declines were also seen in the Americas and Asia Pacific. Following this news, Otis' stock price fell by $12.79 per share to open at $88.20 per share. To obtain additional information, go to: or contact Joseph E. Levi, Esq. either via email at jlevi@ or by telephone at (212)363-7500. WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes. To view the source version of this press release, please visit
Bloomberg
6 days ago
- Business
- Bloomberg
Stock Movers: NIQ, Baker Hughes, Otis
On this edition of Stock Movers: - NIQ Global Intelligence (NIQ) shares slumped 3.6% after the company raised $1.05 billion in an initial public offering. Shares of the consumer intelligence data firm opened at $20.25 each on Wednesday as of 12:43 p.m. in New York, versus an IPO price of $21 apiece. The offering of 50 million shares was marketed in a range of $20 to $24 each. The trading gives the former consumer intelligence unit of Nielsen Holdings a market value of nearly $6 billion based on the outstanding shares listed in its filings. - Baker Hughes (BKR) shares stock surged after the company reported second quarter earnings on Wednesday that beat consensus estimates. - Otis Worldwide (OTIS) shares are down today as the elevator manufacturer cut its forecast for full-year sales and free cash flow after second quarter sales missed expectations. 'We did not expect the company to reduce operational guidance by this much,' JPMorgan analyst Steve Tusa writes. Second-quarter sales disappointed, hurt by a decrease in new equipment sales in China and the Americas. New equipment sales in the quarter fell 10% from the year-ago period, hurt by China and the Americas; new equipment sales were down more than 20% in China.
Yahoo
6 days ago
- Business
- Yahoo
Hasbro Q2 beat, MARA to raise $850M, Otis issues weak guidance
Hasbro (HAS) beat expectations in its second quarter thanks to record sales of Magic: The Gathering. The company also raised its guidance. MARA Holdings (MARA) stock is plunging after the company announced plans to raise $850 million through interest-free convertible notes to pay down debt and buy more bitcoin. Otis Worldwide (OTIS) stock is falling after the company issued soft guidance due to weak demand for new equipment in China and the Americas. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for Yahoo Finance's market minute. Stocks climbing as investors digest news of a trade deal between the US and Japan and look ahead to big tech earnings after the close. Hasbro shares turning negative after initially jumping, jumping on the back of second quarter results. The toy maker topping estimates and lifting its guidance thanks to record sales and its magic the gathering brand and expectations for an improved tariff backdrop. Shares of Bitcoin minor Marathon holdings sinking after announcing plans to raise nearly a billion dollars through interest-free convertible notes. The company plans to use the funds to repay debt and buy more Bitcoin. And elevator giant Otis issuing soft guidance as it seeks sees weak demand for new equipment out of China and the Americas. Otis CEO Judy Marks telling Yahoo Finance that she's encouraged by the trade deals being reached by the Trump administration. And that's your Yahoo Finance market minutes. Scan the QR code below to track the best and worst performing stocks of the session. Related Videos Hilton's upbeat Q2 earnings: Why this analyst is still Neutral US equities lead 2025 ETF flows: A closer look at global trends GE Vernova, Thermo Fisher, Enphase Energy: Trending Tickers Japanese auto stocks are surging on Trump's tariff deal Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Otis lowers annual revenue forecast on muted new equipment sales
(Reuters) -Elevator maker Otis Worldwide lowered its annual revenue forecast on Wednesday, anticipating sustained weakness in the demand for new equipment amid global macroeconomic uncertainty. Shares of the Farmington, Connecticut-based company fell 10% premarket following the results. Sales of new equipment remained under pressure during the second quarter, with declines in the Americas, China and Asia Pacific offseting the growth in the EMEA region. Quarterly net sales in Otis' new equipment segment fell by 10% to $1.28 billion from a year ago. China, a significant market for Otis, has also been denting the company's revenue due to a slow recovery in its property market and added risk from the fresh U.S. import tariffs. The company's total net sales came in at $3.60 billion for the three months ended June 30, below analysts' average estimate of $3.71 billion, according to LSEG compiled data. However, Otis' adjusted quarterly profit of $1.05 per share marginally surpassed estimates of $1.03. The company expects its annual net sales to be between $14.5 billion and $14.6 billion, down from its earlier view of $14.6 billion to $14.8 billion. It reiterated its full-year adjusted profit forecast of $4 to $4.10 per share, compared with analysts' estimates of $4.04 per share.
