15 minutes ago
Philips loses 4% despite third-quarter earnings growth; new orders drop by 9%
Shares of Dutch health technology company Philips fell 4% in early trading despite raising its full-year forecast for strong third-quarter earnings.
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Philips share price.
Philips beat analysts’ expectations for core profit and comparable sales, but the company reported a 9% decline in new orders as demand in China continued to weaken after a pre-pandemic boom.
Hannah Ward-Glenton
50 minutes ago
European markets are opening in a mixed manner
European markets opened mixed on Monday as investors continue to monitor economic and geopolitical uncertainty and expect a busy week for earnings and the European Central Bank’s latest monetary policy decision.
The pan-European Stoxx 600 index was unchanged at the market open, with sectors spread across tentatively positive and negative areas. Retail stocks were the biggest gainers, rising 0.6%, while oil and gas fell 1%.
Hannah Ward-Glenton
3 hours ago
CNBC Pro: Saving for your child’s college education with a 10-year plan? Here’s how to invest, say the pros
Parents thinking about saving for their children’s college education in about a decade may experience sticker shock.
According to estimates from experts interviewed by CNBC Pro, in 10 years, tuition in the US could rise to over $300,000 thanks to inflation, which is currently about twice as high.
Here’s a breakdown of the costs and how to invest, according to these experts.
CNBC Pro subscribers can read more here.
Weizen Tan
3 hours ago
CNBC Pro: Big Tech stocks can hedge against recession in 2024, says UBS
UBS analyst Karl Keirstead says the tech giant could act as a defensive stock if the U.S. enters a mild recession next year.
The investment bank’s economics team is forecasting a mild recession in the United States next year, which could put pressure on broader stock markets.
Keirstead believes that Big Tech stocks have “full geographic coverage across all industries,” making them less susceptible to declines in one area.
CNBC Pro subscribers can read more here.
Ganesh Rao
4 hours ago
European markets: These are the opening invitations
European markets are expected to open mixed on Monday.
According to IG data, the UK FTSE 100 index will open 4 points lower to 7,394, the German DAX will fall 6 points to 14,802, the French CAC will rise 7 points to 6,830 and the Italian FTSE MIB will rise 29 points to 27,336.
The earnings are to come from Philips.
Holly Ellyatt
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