HCA Market Close 06.12.22: Featuring NTG
HCA Market Close 06.12.22 – NTG | Nordic Transport Group narrows its guidance range towards the top end.
Market Movements:
Denmark: OMX:C25 (-0.89%) ; Sweden: OMX:S30 (-1.33%) ; Norway: OBX:OSL (-0.84%) ; S&P 500 (-1.70%) ; Nasdaq (-1.98%); Stoxx 600 (-0.58%)
Market Drivers:
Markets drop as US Bank CEOs send recession warnings.
Today markets decoupled from the relationship of bonds and stocks moving together as recession fears stole the spotlight away from Fed rate hikes. Goldman Sachs CEO David Solomon warned about pay and job cuts with the backdrop of a weak economic outlook. JP Morgan Chase’s CEO Jamie Dimon also said today he expects a mild to hard recession that may hit next year.
Tech stocks also fell today, in part on the recession expectations, and with META leading the way down following a report on an EU ruling that said Facebook and Instagram should not require users to agree to personalized ads based on their digital activity.
Snacks from the HCA Platform:
NTG announced a narrowing of its guidance range towards the top end today. NTG updated its guidance to revenues of around DKKm 10,200, from DKKm 9,700-10,200 previously. Its EBIT guidance was also updated to around DKKm 750, from DKKm 700-750 previously. Consensus analyst estimates from Refinitiv, are for revenues of DKKm 10,378 and an EBIT of DKKm 739. The company also announced the launch of a new share buy-back programme for a maximum of DKKm 50 and up to 240,000 shares, corresponding to 1.06% of the share capital. The share buyback’s purpose is to meet obligations from its share-based incentive programs.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 19:30
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