Analysis: Stocks

Henkel: Structural drivers perform well for Henkel

Earnings/Sales releases Henkel’s Q3 2026 growth accelerated, but largely through cost pass-through rather than demand. Even so, the strength of adhesives has impressed investors, with the shares up...

Porsche SE: Non-cash VW write-down drives 9M loss; FY26 guidance confirmed

Earnings/Sales releases Porsche SE’s 9M adjusted result fell year on year but already exceeds full-year consensus, while the IFRS result swung to a loss following a non-cash write-down of VW’s...

PSP Swiss Property: Resilient results, future-focused

Significant news PSP continues to deliver resilient performance, supported by its prime portfolio, steady tenant demand in Zurich, and robust financing. However, the period reflects a low growth...

Infineon: AI-led growth drives FY27 revenue above €20bn, with significant margin expansion

Earnings/Sales releases Infineon delivered a strong finish to FY26, with Q4 revenue increasing 13% QoQ to a record €4.7bn and segment result margin expanding to 23.8%. Management issued an upbeat FY27...

Jenoptik: Semiconductor upcycle drives strong order growth and FY26 margin upgrade

Earnings/Sales releases Jenoptik reported strong Q3 26 results, with revenue growth accelerating to 18% YoY, driven by a significant recovery in Semi & advanced manufacturing and continued strength in...

Jungheinrich Pref.: Near-term caution, long-term ambition

Earnings/Sales releases Management expects limited improvement in Q4 2026 and 2027, with persistent competitive pressure in ITS partly offset by strong automation momentum. While Jungheinrich’s...

K+S: Q3 tailwinds aren’t structural

Earnings/Sales releases K+S’s Q3 2026 sales growth was driven by price and mix, not volume, as the Bethune shutdown hit volumes. De-icing refill demand lifted Industry+. Costs from the shutdown,...

TAG Immobilien: Guidance raised, leverage down

Earnings/Sales releases Against the backdrop of rising interest rates and privatisation concerns in Germany, TAG Immobilien continues to strengthen its balance sheet and accelerate its diversification...

Ferguson Enterprises Inc.: An all-round show in Q3

Earnings/Sales releases Ferguson delivered a strong Q3, with 7.0% organic growth, 260bp ahead of Visible Alpha consensus, driven by improving volumes and pricing. Non-residential momentum remains...

CNH: CNH to Become Pure-Play as Kobelco Takes Construction; FY26 Guidance Raised

Earnings/Sales releases CNH reported a softer topline and sharp increases in adjusted EBIT and EPS, both driven by tariff refunds rather than operations, while reported earnings reflected a Brazilian...

Knaus Tabbert: Nine-month profitability improves as Knaus confirms FY26 guidance

Earnings/Sales releases Nine-month profitability more than doubled following the cost reset, and Q3 revenue grew YoY for the first time this year, although the quarterly margin fell sharply due to the...

Casino: A softer show in Q3, but restructuring agreement reached in principle

Earnings/Sales releases Casino reported softer Q3 trading alongside an agreement in principle on its financial Restructuring with FRH and the TLB SteerCo. The deal removes the immediate default risk...

Despite the Kremlin's wrath, the market remains lenient toward Japan Tobacco

Large foreign companies that continued operating in Russia were playing a dangerous game. Japan Tobacco, the Japanese cigarette maker, is the latest to get its fingers burnt.

Qiagen: Q3 beat management’s expectations; guidance suspended; EQT deal in focus

Earnings/Sales releases Qiagen’s Q3 results exceeded management’s guidance, with sales primarily driven by Sample Technologies and genomics/NGS. However, challenges in US immigration testing left...

Unicredit: Upgraded organic and non-organic ambitions

Earnings/sales releases UCG posted a strong set of results, ahead of consensus and management’s expectations. Management has already raised its FY26 profit guidance and will likely do the same with...

Elis, the route to profits

Elis rents and maintains linens for 400,000 customers, from hospitals to factories. Its Q3 2026 revenue rose 6.1%, including 3.5% organically. The group has proven its model in France, where its dense...

Vicat: Q3: Pricing drives sales but not margins

Earnings/Sales releases Vicat reported Q3 organic sales growth of 10.2%, well above the 6.8% expected by consensus, supported by strong performance in Asia-Mediterranean and Africa. Management raised...

Enerflex Connects Gas to Growing Power Needs

The company's order backlog continues to build, yet an uncertain geopolitical backdrop clouds execution.

Sinopharm Group's Vitals Are Under Watch

Healthcare policy is moving in Sinopharm's favor. Investors seem to be waiting for evidence that momentum can translate into stronger profits.