21 minutes ago
HelloFresh stock price rises 10%
Shares in Germany’s HelloFresh rose more than 10% on Friday morning after the meal kit company reported full-year and fourth-quarter results.
The Berlin-based company reported a total of 6.64 million active customers at the end of last year, reflecting a 6.5% decrease compared to the same period in 2022.
Shares in HelloFresh plunged more than 40% last week after the recipe box delivery company disappointed with its 2024 earnings outlook. The company’s stock price has fallen 48% since the beginning of the year.
— Sam Meredith
3 hours ago
German real estate giant Vonovia falls 6%
Vonovia shares fell 6% on Friday morning, shortly after Germany’s largest landlord reported its biggest annual loss ever.
The residential real estate company on Thursday reported an annual loss of 6.76 billion euros ($7.35 billion) in 2023, widening from a loss of 669.4 million euros in the same period a year earlier.
The figures were announced as Germany’s housing construction sector has deteriorated further in recent months.
“This is the worst collapse in valuations I have ever seen,” CEO Rolf Buch told reporters, according to Reuters.
— Sam Meredith
3 hours ago
European markets open mixedly
European markets opened mixed on Friday, with sectors and major stock exchanges heading in opposite directions.
The pan-European Stoxx 600 remained flat immediately after the opening bell.
— Sam Meredith
11 hours ago
CNBC Pro: UBS reveals its least and least favorite semiconductor names, with 70% upside potential for one company
Semiconductor stocks rose on the rise of artificial intelligence.
However, according to UBS, the gap between semiconductor stocks that are performing well and those that are not is becoming more pronounced.
Below is a list of least preferred and least preferred names.
CNBC Pro subscribers can read more here.
— Tan Weizhen
11 hours ago
CNBC Pro: Looking beyond Nvidia to ride the AI wave — there are other potential winners, Fidelity says
For investors looking to ride the latest technology wave, there’s a world of stocks beyond flashy AI stocks like Nvidia, according to investment firm Fidelity International.
The AI boom that started with the announcement of ChatGPT in November 2022 has been a particular boon for Nvidia, whose graphics processing units are used to train and run chatbots. The chip designer’s stock has soared nearly 280% over the past year.
“Instead of focusing on so-called hot AI stocks (because today’s big companies are not necessarily tomorrow’s winners), investors are focusing on the many indirect may consider multiple beneficiaries or diversified businesses,” Fidelity said in the report.
The investment firm named several alternative sectors expected to benefit from the AI boom.
CNBC Pro subscribers can read more here.
— Sheila Chan
4 hours ago
European Market: Click here for opening call
European markets were expected to open in negative territory on Friday.
According to IG data, the UK’s FTSE 100 index fell about 5 points to 7,738, Germany’s DAX fell 34 points to 17,902, France’s CAC fell 18 points to 8,145 and Italy’s FTSE MIB fell 45 points. It is expected to start at 33,172.
Britain’s Barclay Group is scheduled to release a trading update on Friday, with the data release also including Italy’s final consumer price index for February.
— Sam Meredith
