Sonova shares down 14% after guidance cut
Sonova Holding shares plunged more than 14% in early trade after the world's largest hearing aid manufacturer cut its full-year guidance for 2022/23, citing a subdued market environment and continual input cost pressures.
The Swiss company is now projecting consolidated sales growth of between 15% and 19%, down from a previous target of 17% to 21%. Full-year adjusted EBITA growth is now expected in the range of 6% to 10%, versus 12% to 18% previously.
- Elliot Smith
BHP posts highest profit in 11 years; shares climb
BHP Group posted a larger-than-expected 26% rise in annual earnings on the back of price surges in coal and other commodities.
The world's biggest miner reported $21.3 billion in earnings for the year ended June 30, its highest since 2011, and announced a record dividend worth $16.3 billion.
The company also refused to rule out a second bid for copper and nickel miner OZ Minerals, having had a $5.8 billion offer rebuffed earlier this month.
BHP shares were up 3.9% during early trade in London.
— Elliot Smith
CNBC Pro: Tesla's valuation doesn't make sense until it hits this level, fund manager says
Tesla may be one of the best-known electric vehicle makers, but fund manager and tech investor Paul Meeks thinks the stock is still too expensive.
Meeks revealed to CNBC Pro Talks the valuation at which he will find Tesla "more interesting."
Pro subscribers can read the story here.
— Zavier Ong
Anglo-Australian miner BHP soars after posting its second-biggest profit in history
Anglo-Australian miner BHP shares soared 3.80% after posting its second-biggest profit in history and a record dividend worth $16.3 billion.
Its full-year results ending 30 June have beaten expectations.
BHP Chief Executive Mike Henry said BHP enters the 2023 financial year "in great shape strategically, operationally and financially."
He also expects China to "emerge as a source of stability for commodity demand in the year ahead, with policy support progressively taking hold."
"At the same time, we expect to see a slowdown in advanced economies as monetary policy tightens, as well as ongoing geopolitical uncertainty and inflationary pressures," he said in a press release.
"The direct and indirect impacts of Europe's energy crisis are a particular point of concern. Tight labor markets will remain a challenge for global and local supply chains."
The situation is reversed for peers Rio Tinto and Fortescue Metals which have posted falls.
- Su-Lin Tan
CNBC Pro: Strategist names the global stocks to buy despite slowing growth
There are pockets of "compelling value" in three sectors — even amid an economic slowdown, said Patrick Armstrong, chief investment officer at Plurimi Group.
These sectors are "incredibly cheap," he told CNBC's "Squawk Box Europe," naming his favorite stocks and explaining why he likes them.
Pro subscribers can read the story here.
— Weizhen Tan
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2022-08-16 08:20:00Z
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