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SHARE IN FOCUS: Philips under pressure – profit warning undermines confidence

Wednesday, 01/12/2022 9:52 AM from

dpa-AFX

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Philips headphones connected to a smartphone. pixabay.com

FRANKFURT (dpa-AFX) – With a loss of almost ten percent, the Philips share stood out negatively on Wednesday as a result of weak business development in a rising overall market. A profit warning for the fourth quarter undermined the recovery attempts of the past few weeks. After a disappointing development last year, the share recovered somewhat in December, but has now fallen back to the lows of previous years at around EUR 30. Recently, this brand had repeatedly offered a stop.

JPMorgan analyst David Adlington spoke of a clear warning for the fourth quarter. The disappointing statements gnawed at investor confidence.

James Vane-Tempest from Jefferies’ investment house was also disappointed. Burdens from product recalls and delivery bottlenecks were expected, but not to this extent. / Mf / mis

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Leverage: 4.52

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