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Stock Market & Financial Investment News

News Breaks
July 8, 2014
05:41 EDTPHGPhilips Healthcare CEO steps down after Q2 EBITA below expectations
Royal Philips announced that it is implementing a new management structure in its Healthcare sector to "improve performance and allow it to respond better to evolving customer demands in a changing health care landscape." In this new model, the Healthcare business groups will report directly to Philips CEO Frans van Houten, thereby removing one management layer. Deborah DiSanzo, CEO of Philips Healthcare, has decided to leave the company to pursue other opportunities. "The performance in our Healthcare sector is disappointing, with second-quarter EBITA expected to be approximately EUR 220 million, while expected Group EBITA of approximately EUR 400 million in the second quarter is in line with current market expectations," said Frans van Houten. "We anticipate, however, EBITA performance in Healthcare to improve in the second half compared to the same period in 2013 as, among others, Cleveland gradually resumes production in the course of the third quarter."
News For PHG From The Last 14 Days
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October 24, 2014
10:34 EDTPHGSamsung confirms plans to exit LED lamps, Lighting says
Samsung (SSNLF) confirmed that it is exiting the global LED lamps business, according to industry site Lighting. The publication quotes the company as issuing the following statement: “We have decided to discontinue our LED lamp business in all markets, except Korea, so that we can focus more resources on our core business areas. We will remain active in the LED industry through our LED component business, and continue to provide high-quality products and services to our customers.” Philips’ (PHG) recent decision to split off its lighting division has been blamed, at least in part, on the commoditized nature of the consumer LED lamp market, Lighting added. Shares of Cree (CREE), whose products consist of both LED and traditional lighting systems, are up 1% in early trading following the news of Samsung's plans. Reference Link
October 21, 2014
10:00 EDTPHGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AbbVie (ABBV) downgraded to Neutral from Buy at Guggenheim... BHP Billiton (BHP) downgraded to Hold from Buy at Jefferies... Bank of Marin (BMRC) downgraded to Market Perform from Outperform at Keefe Bruyette... Cobalt (CIE) downgraded to Speculative Buy from Buy at Global Hunter... Consolidated Edison (ED) downgraded to Underweight at Morgan Stanley... Deutsche Post (DPSGY) downgraded to Hold from Buy at Deutsche Bank... HCP (HCP) downgraded to Hold from Buy at Jefferies... IBM (IBM) downgraded to Hold from Buy at Evercore... Inland Real Estate (IRC) downgraded to Underperform from Neutral at BofA/Merrill... PerkinElmer (PKI) downgraded to Neutral from Buy at Janney Capital... Philips (PHG) downgraded to Neutral at UBS... QEP Midstream Partners (QEPM) downgraded to Market Perform at Wells Fargo... Rent-A-Center (RCII) downgraded to Market Perform from Outperform at Raymond James... Rhino Resources (RNO) downgraded to Underperform from Market Perform at Raymond James... Universal Forest (UFPI) downgraded to Neutral from Buy at Sterne Agee.
08:18 EDTPHGPhilips downgraded to Neutral at UBS
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08:01 EDTPHGPhilips downgraded to Neutral from Buy at UBS
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October 20, 2014
05:46 EDTPHGPhilips says remains committed to 2016 financial targets
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05:44 EDTPHGPhilips reports Q3 net income EUR (103M) vs. EUR 281M last year
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