Latest news with #Saab
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Global Stocks Recap: Alibaba, Saab, Burberry, GSK
↗️ Saab (SE:SAAB.B): The Swedish defense company posted better-than-expected earnings and raised its annual sales guidance. Shares jumped 16%. NATO members' pledge to spend more on defense is boosting investment in the sector. ↘️ GSK (GSK): A FDA committee voted against approving GSK's Blenrep drug, a setback for its bid to reintroduce the blood-cancer treatment in the U.S. Shares dropped 4.6% in London. ↗️ Alibaba (BABA): The Chinese-commerce giant rose 2.9% in Hong Kong. Chinese technology stocks got a boost this week from President Trump clearing Nvidia to sell H20 chips in the country, as well as robust GDP data.
Business Recorder
3 days ago
- Automotive
- Business Recorder
European shares rise as investors focus on earnings
European shares rose on Friday, boosted by gains in Vestas and Saab, while investors focused on corporate earnings for clues on the impact of U.S. tariff policies on businesses. The pan-European STOXX 600 index rose 0.5% to 549.48 points, as of 0931 GMT, and was on track for a second weekly gain. Other major regional indexes also rose, with France's CAC 40 leading the pack with 0.6% gain. Wall Street indexes touched record highs on Thursday after strong economic data and earnings reports showed American consumers remained willing to spend. In Europe, positive corporate news helped offset concerns on trade after U.S. President Donald Trump threatened to impose a 30% tariff on the European Union. Investors awaited clarity from the U.S.-EU trade talks, with the bloc preparing retaliatory measures in case negotiations with Washington failed. 'Across the globe, analysts have already downgraded near-term earnings forecasts. So the bar is quite low to beat,' said Viresh Kanabar, macro strategist for asset allocation at Macro Hive. 'The only tariff that's in place is a 10% tariff on Europe. It's not damaging. It's only if the rate increases that it will have a lasting impact.' Britain and Germany signed a wide-ranging friendship treaty on Thursday that aims to deepen ties in areas such as defence and transport, as the UK attempts to reset ties with the EU. The oil and gas sector led the broad-based gains in Europe, up 1.2%, tracking higher oil prices after the European Union agreed to new sanctions against Russia. Industrials stocks touched a record high, up 0.7%, led by gains in Saab. The Swedish defence material maker jumped 10.8%, taking year-to-date gains above 130%, after it posted higher-than-expected second-quarter earnings and raised its sales outlook. Vestas Wind Systems gained 12.3% after J.P. Morgan upgraded the Danish wind turbine maker to 'overweight' from 'neutral'. SKF rose 5.4% after the Swedish industrial bearings maker reported second-quarter earnings above market estimates. Getinge gained 6.3% after the Swedish medical equipment maker reported second-quarter core earnings above market expectations. On the flip side, GSK fell 5.7% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep. Swedish home appliances maker Electrolux slumped 14.8% after poor second-quarter performance in Europe and India's Reliance Industries said its retail unit acquired home appliance maker Kelvinator from Electrolux.
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Arms maker Saab sees sales rise, growth potential
Saab CEO Micael Johansson said that following the Nato summit, members of the military alliance committed to increasing defence spending to 5% of GDP. (EPA Images pic) STOCKHOLM : Swedish defence group Saab reported today stronger-than-expected earnings for the second quarter (Q2) in 2025, noting future growth potential due to Nato countries agreeing to increase defence spending. Saab reported sales of SEK19.8 billion (US$2 billion) in Q2, up from SEK15.2 billion a year earlier. It was better than the SEK18.1 billion that analysts were expecting, according to surveys by Factset and Bloomberg. Net income for Q2 came in at SEK1.5 billion, up from SEK1 billion for the same period a year earlier, and beating the SEK1.3 billion that analysts were expecting. 'We are navigating in a world where geopolitical tensions have escalated, mainly driven by the conflicts in the Middle East and the ongoing war in Ukraine,' Saab CEO Micael Johansson said. Johansson also noted that following the Nato summit in June, members of the military alliance had committed to increasing defence spending to 5% of GDP by 2035. 'While this will enable significant growth for our industry, the shift from defence planning and policy alignment to procurement takes time,' Johansson said. He added that the company was 'continuing to invest in capacity increases and… proactively working in close cooperation with our suppliers to secure future deliveries'.
Yahoo
3 days ago
- Business
- Yahoo
European shares rise as investors focus on earnings
(Reuters) -European shares rose on Friday, on course for small weekly gains, as investors focussed on corporate earnings for clues on the impact of U.S. tariff policies on businesses. The pan-European STOXX 600 index rose 0.3% to 548.84 points, as of 0731 GMT, and was on track for a second weekly gain. Other major regional indexes, including the German DAX, France's CAC 40 and Britain's FTSE 100 also rose modestly. Wall Street indexes touched record highs on Thursday after strong economic data and earnings reports showed American consumers remained willing to spend. [.N] Swedish defence material maker Saab jumped 12.7%, the top gainer in the STOXX 600, after it posted higher-than-expected second-quarter earnings and raised its sales outlook. Vestas Wind Systems gained 8.8% after J.P. Morgan upgraded the Danish wind turbine maker to "overweight" from "neutral". On the flip side, GSK fell more than 6% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep. Swedish home appliances maker Electrolux slumped 14.6% after poor second-quarter performance in Europe and India's Reliance Industries said its retail unit acquired home appliance maker Kelvinator from Electrolux.
Al Etihad
3 days ago
- Business
- Al Etihad
European shares rise as investors focus on earnings
18 July 2025 12:02 (REUTERS)European shares rose on Friday, on course for small weekly gains, as investors focused on corporate earnings for clues on the impact of US tariff policies on pan-European STOXX 600 index rose 0.3% to 548.84 points, as of 0731 GMT, and was on track for a second weekly major regional indexes, including the German DAX, France's CAC 40 and Britain's FTSE 100, also rose Street indexes touched record highs on Thursday after strong economic data and earnings reports showed American consumers remained willing to defence material maker Saab jumped 12.7%, the top gainer in the STOXX 600, after it posted higher-than-expected second-quarter earnings and raised its sales Wind Systems gained 8.8% after J.P. Morgan upgraded the Danish wind turbine maker to "overweight" from "neutral".On the flip side, GSK fell more than 6% after a US FDA advisory panel recommended against approving its blood cancer drug Blenrep. Swedish home appliances maker Electrolux slumped 14.6% after reporting a poor second-quarter performance in Europe. Meanwhile, India's Reliance Industries announced that its retail unit has acquired home appliance maker Kelvinator from Electrolux. Stock Markets Continue full coverage
