Markets

Adidas shares climb after boost to guidance, while European markets slip

1 Mins read

Adidas shares advanced on Wednesday as the apparel maker boosted its full-year guidance.

Adidas shares
ADS,
+3.66%
rose 4% as the company pre-released its third-quarter numbers, reporting a 27% decline in operating profit on a 6% fall in revenue. Adidas said its results were helped by selling its remaining Yeezy inventory, as well as a “better than expected” performance of its underlying business.

Adidas said it’s now forecasting adjusted operating profit of around €100 million for the year, vs. previous guidance of break even, on a low-single digit decline in currency-neutral revenue, vs. a previous estimate of a mid-single-digit decline.

Analysts at Stifel say the implied guide for the fourth quarter is “highly conservative.” “From one company to another, [Adidas CEO] Bjorn Gulden has pursued a guide low/beat-and-raise communication strategy even since FY22 results,” said the analysts. Shares of Gulden’s former company, Puma
PUM,
+2.41%,
rose 3%.

Also rising were shares of Just Eat Takeaway
TKWY,
-0.92%,
as the delivery service company’s stock gained 7% after boosting guidance and launching a €150 million stock buyback, while ASML Holding
ASML,
-3.21%
shares fell 5% as the chip equipment maker’s orders came in far below consensus estimates.

The major European stock market indexes — the German DAX
DX:DAX,
French CAC 40
FR:PX1
and U.K. FTSE 100
UK:UKX
— declined after a rise in U.S. bond yields following better-than-expected retail sales.

The pound
GBPUSD,
-0.34%
was slightly stronger after U.K. CPI, both at a headline and core level, came in a tenth higher than estimates.

Read the full article here

Related posts
Markets

Options traders are bracing for a stock-market crash

1 Mins read
Last Updated: March 3, 2025 at 5:24 p.m. ETFirst Published: March 3, 2025 at 12:50 p.m. ET Options traders are bracing for a looming…
Markets

Why bitcoin bulls aren’t happy about Trump’s plans for something they’ve long wanted: a crypto reserve

1 Mins read
Published: March 3, 2025 at 5:34 p.m. ET A backlash over President Donald Trump’s plan to include three small and relatively risky tokens…
Markets

U.S. stocks are being trounced by Europe as Trump retreats from Ukraine, focuses on ‘America First’

1 Mins read
Last Updated: March 3, 2025 at 7:13 p.m. ETFirst Published: March 3, 2025 at 6:16 p.m. ET It might go down in history as…
Get The Latest News

Subscribe to get the top fintech and
finance news and updates.

Leave a Reply

Your email address will not be published. Required fields are marked *