The data from the Gaming Commission for the two months Jan – Feb 2024 is in line with the assessment of the management of OPAP for an increase in EBITDA to 750 – 770 million euros (+2.7% – +5.4%). Specifically, the traditional network of agents and VLTs shows an increase in GGR (gross revenue) of 5.44%, reversing the trend observed in January (-0.6%). Also online, in which OPAP has a market share close to 50%, shows a 5.4% increase (compared to a 7.4% drop in January). The regular General Assembly of the company will be held next Thursday.
A breath away from the 11 billion euros is its capitalization Coca Cola and is by far the largest company on the Greek stock market. However, rather despite the recent rise, the share price still remains attractive as it has not only failed to surpass the pre-pandemic levels, which most AX stocks have surpassed, but also not to be above the levels which was before the war broke out in Ukraine.
The listed company has published excellent results, while the management, a few months ago, analyzed the reasons it considered to make the stock attractive and had announced “actions”, such as better returns to shareholders, channeling excess liquidity into own share purchases in addition to acquisitions, etc. .a.
It is recalled that the share buyback program amounts to 400 million euros. When the management had announced this, the stock was below 25 euros and yesterday it went over 29 euros. If one now looks at the chart of the stock, he will understand that he is in front of a large breakdown of significant resistance. If it splits it will gain significant upside.
Her management Cenergy in the last update of the analysts, it had said that it wants to make the investment in the USA and build a factory, either alone or with a partner. Yesterday it announced that it was granted a tax exemption for the planned cable production facility in Maryland. The investment is estimated at 300 million dollars and the management has not yet made the final decision whether to make the investment.
As a first step towards the realization of the project and once the due diligence process that has been underway for the last few months is successfully completed, Hellenic Cables Americas intends to purchase a property at Wagners Point, Baltimore, an area of approximately 154 acres (38 acres).
The transfer is expected to be completed within 8 weeks subject to the receipt of the usual approvals for similar transactions. The new facility will produce submarine and underground cables for offshore wind energy and power grid modernization applications. It will address the growing energy transition market with high-tech products manufactured using a modern, clean, low-noise and ultra-low-emission production process.
The total of open positions in derivatives (indices and shares) in value is approximately 300 million euros, of which 55 million euros concern open positions in the TERNA Energy share. Interestingly, last Thursday the number of open contracts increased by 4%, while on Friday, the day the S&P Clean Energy index was restructured, the number of open contracts increased by an additional 2%. The number of open contracts is now at record levels.
Insider shopping: Mr. Charalambos Pampoukis, Non-Executive Member of the Board of Athens International Airport, purchased last Friday 10,000 common shares of the company at an average price of €8.1503. Mr. Pampoukis bought below the entry price and the market vindicated him with yesterday’s rise in the AIA price.
With the successful title “the patience you must have” Eurobank Equities raised the target price for the Jumbo to 33.40 euros from 31.20 euros. Indeed, those who were patient and bought shares of the company a few years ago and did not sell because of a series of negative news that occurred (pandemic, soaring transport costs, war) today enjoy not only a huge stock market rise, but also a great return through cash distributions .
The brokerage believes that the group is on track to achieve an increase in earnings before taxes and interest of approximately 10% this year after +20% in 2023. Jumbo has been acting in recent years as a dividend play having returned approximately 850 million euros to shareholders while maintaining at the same time net cash of around 444 million euros due to strong cash flows. The company has announced a dividend of 1 euro per share and the stock exchange expects another 1 euro by the end of the year.
It has climbed to historic highs Performance Technologies, immediately after the company’s announcement that it is preparing to move to the Main Market from the Alternative. Compared to other companies in the industry, it is probably lagging behind and the move is a good opportunity for it to develop its strengths. With a valuation of 85 million euros, it had an EBITDA of 7.15 million euros, increased by 7.2%, while it also has negative net borrowing according to the 2023 balance sheet.
The strong dollar favors the beginning of the year – but also for as long as it remains – exporters and especially metals, refining and raw materials companies. For example, every 5% change in the exchange rate in favor of the dollar Mytileneos increases its net results by 32 million euros, while at Helleniq Energy a change of the order of 10 cents in the exchange rate brings about changes of close to 70 million euros in operating profits. On the contrary, importing companies will see their cost of goods sold increase.
There is no meeting on May Day, but there is an announcement of the results of the National Bank, with a teleconference at 10:30. On May 17, the end of the Lock-up for the sale of HFSF shares.
The results that will announce some of the “famous 7″ tech companies this week will be a major test of the course of the US stock market and this year’s rally showing signs of fatigue as expectations for rate cuts fade.
Tesla, Meta Platforms, Alphabet and Microsoft will report first-quarter results this week. They are four of the group of “famous 7” companies that led the S&P 500’s 24% rise last year. They are heavily weighted in the broad Wall Street benchmark.
Tesla, whose stock has lost 40% this year, reports results on Tuesday. Next up is Meta Platforms on Wednesday. Its stock is on track for a 40% gain in 2024. Alphabet and Microsoft, whose shares have gained 12% and 7.5% respectively this year, report results on Thursday.
The rest of the Big 7 – Apple and Amazon – will report results next week, while Nvidia, which is gaining 70% this year, will report on May 22.
A historic development took place last Friday in the state of Tennessee in the USA. German car factory workers Volkswagen (VOW3 XETRA) in the city of Chattanooga have decided to join the nation’s auto workers’ union, the UAW (United Auto Workers).
In accordance with Barron’s, it is the first time that workers in one of the car plants in the southern states of the USA have made this decision. These plants, which are mostly owned by international rather than American automakers, were established after the 1970s and their success has been largely based on the fact that their workers are not members of the UAW, which lowers operating costs. them and increases profit margins. As Barron’s points out, it’s not easy to say how much lower wages are for non-union workers.
But as a general rule it may be said that, on the average, a worker represented by the UAW or some similar organization in another industrial sector earns about $200 more each week than his colleagues in the factories of the Southern states. (Here we must say that in some of these southern states unionization in factories is prohibited by law). Volkswagen’s Chattanooga plant employs about 4,300 workers, according to the Bloombergand the result of the vote was very clear, with 2,628 voting for and 985 against the proposal to join the UAW.
This result was announced by the federal agency US National Labor Relations Board who oversaw the process. If the agency approves it, then Volkswagen will be obliged to enter into a collective labor agreement on the working conditions and remuneration of the employees.
The development is a major victory for the UAW and its chief Shawn Fain, who spearheaded last year’s major strike at the three major traditional automakers. Ford (F NYSE) General Motors (GM NYSE) and Stellantis (STLA NYSE), whose plants are located primarily in and around the state of Michigan.
As is well known, the result of the strike was that the big three companies gave in to most of the UAW’s demands. After this great success, Fain had made it clear that the next goal of his organization would be to increase its membership through membership to that of the workers in the factories of the south. He had argued last November that the success of the strike would convince hitherto reluctant workers to join the UAW
Judging by what happened on Friday, it is very likely that we will see Fain vindicated. But the road to the success of his venture is not so easy. The organization’s leader has said he will seek to recruit about 150,000 new members, up from 370,000 now. The first step taken on Friday was very successful and the next attempt will be made in mid-May at her factory Mercedes Benz (MBG XETRA) in Tuscaloosa, Alabama, which employs approximately 6,100 people.
Things may not be as easy because the management of Mercedes Benz is not as friendly to the prospect of unionization of workers as that of Volkswagen. However, it is possible that they will become easier after the clear result on Friday. Be that as it may, we will soon be dealing with the UAW and its president again.
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This material is provided for informational purposes only. In no case should it be taken as an offer, advice or solicitation to buy or sell the mentioned products. Although the information contained is based on sources believed to be reliable, no assurance is given that it is complete or accurate and should not be relied upon as such.
Tags: leverage OPAP big step Cenergy rally Coca Cola listed companies favor strong dollar open positions board markets Venizelos tips Performance Jumbo
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