Unilever’s trading update contained several pleasant surprises according to Deutsche Bank, which has tweaked its numbers and stuck with a ‘buy’ recommendation. “Gross margin surprised to the upside as did volume growth and this before the new management have fully mobilised their action plan,“ said the bank. “There remains a high skew between the outperformers and underperformers in the [consumer staples] Group which could provide some volatility, but we see Unilever progressing towards a steadier compoundi ...

The Wall Street “meme-lord” behind the social media account Litquidity — which famously aired junior Goldman Sachs bankers’ gripes about 100-hour work weeks during the pandemic — has been identified as a 32-year-old former Deutsche Bank investment banker.Miami-born Henry “Hank” Medina described himself as “the observer” in an office full of “loudmouths” to the Financial Times, the first outlet to report on the man behind the @Liquidity accounts — which have a collective roughly 2.2 million followers betwee ...

UBS Group AG (UBS) reported fourth-quarter 2023 net loss attributable to shareholders of $279 million. It recorded net profit of $1.65 billion in the year-ago quarter.Results were adversely impacted by higher operating expenses, along with a significant rise in credit loss expenses. However, a rise in total revenues, driven in part by the acquisition of Credit Suisse, was a supporting factor.The performance of the Personal & Corporate Banking division was impressive. However, the Asset Management, Non-core ...

Chinese electric vehicle manufacturer Li Auto (NASDAQ:LI) finally benefited from some positive developments. Earlier Tuesday, Deutsche Bank analyst Edison Yu upgraded LI stock to “buy” from “hold,” although he trimmed his price target by $4 to $41. Nevertheless, the share price forecast still reflects a more than 46% lift from Monday’s closing price of $28.Fundamentally, the most important element tied to the upgrade centers on the confidence boost. As CNBC pointed out, LI stock has declined approximately 2 ...

Deutsche Bank (DB) reported fourth-quarter 2023 profit attributable to its shareholders of €1.26 billion ($1.37 billion), down 30% year over year. The Germany-based lender reported a profit before tax of €698 million ($759.2 million), down 10% year over year.Results were largely driven by higher net revenues. However, higher provision for credit losses and rising expenses were the offsetting factors.Revenues & Costs Rise, Provisions RiseThe bank generated net revenues of €6.66 billion ($7.24 billion), up 5% ...

Market hopes for big cuts this year are unlikely to pan out, Deutsche Bank wrote. Today's economy is similar to 1995, when cuts came in below market predictions. A productivity cycle from AI could keep the US from falling into a recession, keeping rates up. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email add ...

Deutsche Bank (DB) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 94.59%. A quarter ago, it was expected that this bank would post earnings of $0.53 per share when it actually produced earnings of $0.61, delivering a surprise of 15.09%.Over the last four quarters, the company has sur ...

Deutsche Bank is cutting 3,500 jobs as it aims to shave off billions in operational costs by 2025.  On Thursday, the German investment bank announced that it made further progress on its operational efficiency program during 2023. The goal of the program is to cut costs by 2.5 billion euros, or about $2.7 billion.While the bank made progress on this goal, it noted that it was still seeking to save 1.6 billion euros, or $1.7 billion. These savings will be driven by various measures "including simplified work ...

Deutsche Bank on Thursday said it plans to slash 3,500 jobs after reporting a 30% drop in fourth-quarter profit that included heavy losses in its US real estate holdings. The layoffs come after the German banking giant hired 300 front-office staffers in the three-month period ended Dec. 31, though the firm’s CEO Christian Sewing said the headcount reduction will primarily impact back-office roles, and are part of a larger turnaround effort, according to The Wall Street Journal.“Let me stress that cost disc ...

Deutsche Bank (NYSE:DB) is among today’s top trending stocks for multiple reasons. First off, the German banking giant recently reported impressive fourth-quarter earnings, blowing past Wall Street estimates. News of this profit smash has sent DB stock into the green today. On top of that, though, the company also just announced significant job cuts as part of its operational efficiency program.Specifically, Deutsche Bank is planning to lay off 3,500 workers, amounting to roughly 4% of its global workforce. ...