Givaudan shares fall as sales growth stabilises in Q2

Category: Business

Givaudan's shares fell 6% as second-quarter sales growth stabilized at 12.3%, down from 12.6% in Q1. Half-year sales rose 12.5% to 3.74 billion Swiss francs, with strong performance in the Taste & Wellbeing and Fragrance & Beauty segments. EBITDA increased by 18.7% to 906 million Swiss francs, surpassing forecasts. Analysts expect volume growth to ease and margins to decline in the second half due to tougher comparisons and increased investments.

Keywords: Givaudan, fragrance, sales growth

Source: Yahoo Finance UK

Update At: 7/24/2024

Related Sources

Intel's stock craters as it reveals plan to cut 15,000 jobs, 15% of its workforce

Intel Corp. plans to lay off about 15,000 workers, or 15% of its workforce, in response to disappointing earnings and to cut $10 billion from its annual costs by 2025. CEO Pat Gelsinger stated that the layoffs are necessary to align the company's cost structure with its new operating model. The company also reported a net loss of $1.6 billion in the last quarter and is suspending its stock dividend. Intel aims to transform its business model to become a contract manufacturer for third-party chip designers, while facing significant competition in the chipmaking industry.

SiliconANGLE News

MKDWELL Tech Inc. and Cetus Capital Complete Business Combination | MKDW Stock News

MKDWELL Tech Inc. completed its business combination with Cetus Capital Acquisition Corp. on July 31, 2024. The company will begin trading on Nasdaq under the ticker symbols 'MKDW' and 'MKDWW' starting August 1, 2024. The transaction was approved by Cetus Capital's stockholders on July 9, 2024. MKDWELL Tech focuses on automotive electronics and operates key subsidiaries in China and Taiwan, providing a range of products including intelligent RV control systems and LiDAR sensors.

Stock Titan

MKDWELL Tech Inc. and Cetus Capital Complete Business Combination

MKDWELL Tech Inc. has completed its business combination with Cetus Capital Acquisition Corp., with trading set to begin on Nasdaq under the ticker symbols 'MKDW' and 'MKDWW' on August 1, 2024. The company, focused on automotive electronics, will be led by CEO Ming-Chia Huang and CFO Min-jie Cui. MKD operates key subsidiaries in China and Taiwan, specializing in products for passenger and commercial vehicles.

EIN News

Amazon shares drop on slowing online sales growth By Reuters

Amazon's shares dropped over 12% following a report of slowing online sales growth and a shift in consumer behavior towards cheaper options. The company's online store sales increased by 5% in the second quarter, but competition from discount retailers like Temu and Shein is intensifying. Despite challenges, Amazon's cloud computing revenue exceeded expectations, rising 19% to $26.3 billion.

Investing.com

My Top 9 Growth Stocks to Buy Now in August

John Mackey and Suzanne Frey are board members of The Motley Fool, which recommends various companies including Alphabet and Amazon. Parkev Tatevosian has positions in Alphabet and PayPal and is affiliated with The Motley Fool, potentially earning compensation for promoting its services.

The Motley Fool

Google loses antitrust suit over search payments (NASDAQ:GOOG)

Google lost its antitrust suit over search, with the court ruling that it violated the Sherman Act by maintaining a monopoly in search services and text advertising through exclusive agreements. This decision marks a significant victory for the Justice Department in addressing anticompetitive practices in the tech industry.

Seeking Alpha

Google's antitrust loss could put billions at risk for Apple

A recent ruling by Judge Amit Mehta in favor of the Department of Justice against Google could significantly impact both Google's search and advertising business and its long-standing revenue-sharing agreement with Apple. This agreement, which has been in place since 2002, sees Google paying Apple a substantial portion of search revenue generated on Apple devices. If the agreement is terminated, it could result in a loss of $20 billion for Apple and a potential revenue drop of $28 billion to $32 billion for Google.

Yahoo Finance

Intel CEO draws mixed reactions for posting Bible verse after announcing layoffs

Intel CEO Pat Gelsinger faced backlash for quoting Proverbs on social media after announcing significant layoffs amid a sharp decline in the company's stock price. Gelsinger's biblical reference drew criticism from users who mocked his approach during a challenging time for the tech giant, which is cutting about 17,000 jobs as part of a $10 billion cost-reduction plan. The company's stock plummeted 26%, marking its worst day in 50 years, despite receiving substantial federal grants to support chipmaking.

Christian Post

Super Micro's Weak Profit Fuels AI Server Margin Anxieties

Super Micro Computer Inc. reported quarterly revenue of $5.31 billion and profit of $6.25 per share, both missing analysts' estimates. The company forecasts revenue between $26 billion and $30 billion for the fiscal year ending June 30, 2025, exceeding Wall Street projections. Despite a surge in demand for AI-related equipment, concerns about long-term profitability persist, leading to stock volatility following the earnings report and a 10-for-1 stock split announcement.

Yahoo Finance

Super Micro's Weak Profit Fuels AI Server Margin Anxieties

Super Micro Computer Inc. reported quarterly revenue and profit that fell short of analysts' expectations, with profit at $6.25 per share and sales at $5.31 billion, both below forecasts.

Bloomberg.com