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Unilever Plc is experiencing accelerated sales growth as CEO Hein Schumacher's turnaround strategy takes effect. In the third quarter, revenue rose by 4.5%, surpassing analysts' expectations of 4.3%, with consumer demand increasing for the fourth consecutive quarter.
European stocks are set for a mixed open as traders await earnings reports from major companies like Barclays and Unilever, amid a backdrop of declining U.S. markets. The U.K.’s FTSE 100 is expected to rise slightly, while Germany’s DAX and France’s CAC are projected to open lower. Global sentiment has been affected by the recent downturn in U.S. indices, with the Dow experiencing its largest one-day loss since early September.
UBS has maintained a 'Sell' rating on Unilever shares, setting a target price of 4000 pence, following recent financial results from Hindustan Unilever and Unilever Indonesia. The company, a major player in consumer goods with over 400 brands, emphasizes sustainability through its Unilever Sustainable Living Plan, aiming for 100% of its plastic packaging to be reusable, recyclable, or compostable by 2025.
Hindustan Unilever's CEO Rohit Jawa announced plans to separate the company's ice cream business, which includes brands like Kwality Walls, Cornetto, and Magnum. He noted that while the ice cream sector is high growth, it requires significant investment and operates on low margins, with limited synergies with the grocery business. This decision aligns with Unilever PLC's earlier announcement regarding the separation of its global ice cream operations.
UBS has maintained a "Sell" rating on Unilever shares, setting a target price of 4000 Pence. This decision follows the financial results from Hindustan Unilever and Unilever Indonesia, as noted by analyst Guillaume Delmas in a recent report.
Hindustan Unilever Ltd., India's largest household-products manufacturer, reported a second-quarter net income of 26.1 billion rupees ($310 million), a 4% decline from the previous year. This figure fell short of analysts' expectations, which averaged 27.06 billion rupees, amid ongoing weak demand for consumer goods.
Hindustan Unilever Ltd (HUL) has announced its decision to separate its ice cream business, following a recommendation from an Independent Committee after a thorough review. This restructuring aims to enhance focus on core areas such as Beauty, Foods, Health, and Wellbeing, aligning with Unilever PLC's global strategy to separate its ice cream operations.
Unilever Plc is relocating its ice cream unit from Rotterdam to Amsterdam's city center, specifically to Reguliersdwarsstraat, known for its tourist attractions. Approximately 450 employees will transition to the new office in the first quarter of next year, as the company prepares for a potential sale or listing of the business.
UBS has upgraded AO Smith (NYSE: AOS) from Sell to Neutral, raising the price target to $80 amid a more balanced risk-reward profile. The shift follows a 27% decline in the stock this year, with optimism surrounding potential government stimulus in China and easing margin pressures in North America. Despite mixed third-quarter results, AO Smith remains focused on long-term growth, bolstered by a strong cash position and a consistent dividend history.
AI startup Basecamp has secured $60 million in funding and partnered with the Broad Institute to develop "programmable" genetic medicines. The collaboration will focus on creating novel fusion proteins and leveraging a comprehensive database of biological interactions to enhance drug discovery and gene editing approaches. With a total of $85 million raised since its inception in 2019, Basecamp aims to expand its partnerships within the biopharma sector.
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unilever reports accelerating sales growth amid successful company turnaround
08:12 24.10.2024
european stocks mixed as traders await earnings amid us market declines
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