ROUNDUP: BMW raises earnings outlook - high cash requirements weigh on shares

MUNICH - Automaker BMW is raising its forecasts for car sales and operating profit margin in its core business after a good run in the first half of the year. Management led by chief executive Oliver Zipse now expects the margin of earnings before interest and taxes in the automotive sector to be between 9 and 10.5 percent in the current year, the group announced in a surprise move on Tuesday. BMW had previously forecast 8 to 10 percent for this key figure, which attracted a great deal of attention on the stock market, and had already set its sights on the upper end of the range. But the group is becoming more cautious on its cash inflow outlook as the Munich-based company is expected to need more capital this year for investments in electric drives as well as because of shaky supply chains. The stock fell sharply.

ROUNDUP 2: DHL sets the bar a little higher for 2023 - shares plummet

BONN - After the first six months, DHL Group is somewhat more confident about the full year. Management now expects earnings before interest and taxes (Ebit) for 2023 to be at least 6.2 billion euros instead of 6 billion, as the group announced in Bonn on Tuesday. The upper end of the operating profit range, however, remains untouched at 7 billion. On the stock exchange, however, the news was acknowledged with a slide in the share price.

ROUNDUP: Daimler Truck remains confident on return outlook - share price falls

LEINFELDEN-ECHTERDINGEN - Commercial vehicle manufacturer Daimler Truck continues to give investors hope for good business after its latest forecast increase. The group could end up in the upper end of the 8.5 to 10 percent operating return range targeted for its vehicle business this year and is working to get to the upper end, Chief Executive Officer Martin Daum said Tuesday in a conference call with analysts. However, he said the company felt comfortable with the corridor in light of cost increases in the second half of the year and supply chains that remain fragile. Daimler Truck had only raised the range to its current level in mid-July.

ROUNDUP: Teamviewer earns more than expected from operations - share rises

GÖPPINGEN - Software provider Teamviewer has earned more than expected despite a difficult market environment. Demand also picked up again in the second quarter in the recently weakening business with large customers. Despite a decline, the adjusted operating margin remains above the annual targets.

Acquisition drags U.S. pharmaceutical group Merck into the red in the second quarter

RAHWAY - U.S. pharmaceutical group Merck & Co slid into the red last quarter due to its multibillion-dollar acquisition of biotech company Prometheus. The bottom line was a loss of nearly six billion U.S. dollars (5.4 billion euros), compared with a profit of about four billion dollars a year earlier, the group said Tuesday in Rahway.

Pfizer more cautious for annual sales - After Corona: profit slump in the quarter

NEW YORK - The U.S. drug company Pfizer is looking a little more cautiously at the current year due to delays in the approval of new drugs. But damage to a production facility in the U.S. state of North Carolina due to a tornado also weighs. Apart from the Covid business, Pfizer now expects a sales increase from its own resources of six to eight percent in 2023, the pharmaceutical company announced on Tuesday in New York. Previously, the company had targeted growth of seven to nine percent here.

ROUNDUP: BP disappoints with profit decline - but dividend increases

LONDON - Like its competitors, the drop in oil prices weighed on BP's profits in the second quarter after an unusually strong previous year. A year ago, oil and gas prices were very high due to Russia's war of aggression on Ukraine; prices have since fallen significantly again. Nevertheless, the dividend is to rise, and a further share buyback has also been announced. The share price rose by more than 2 percent in the morning.

ROUNDUP: HSBC with brilliant quarter - share rises to highest level since 2019

HONG KONG/LONDON - Major British bank HSBC earned significantly more in the second quarter thanks to higher interest rates and business doing well in financial markets. Profits climbed 27 percent to 6.6 billion U.S. dollars (about 6 billion euros), the bank, which is mainly active in Asia, announced in Hong Kong and London on Tuesday. Revenue rose 38 percent to $16.7 billion. The bank thus exceeded experts' expectations.

ROUNDUP/Weak demand: Covestro more cautious - takeover fantasy in focus

LEVERKUSEN - After a weak first half, plastics group Covestro is not hopeful of a business recovery in the second half of the year. "We are still in an economically challenging environment," Chief Financial Officer Thomas Toepfer said when presenting the company's quarterly figures on Tuesday, according to a statement. As a result, 2023 results are more likely to be in the lower half of previous ranges for operating profit and free operating cash flow. In an interview with the financial news agency dpa-AFX, Group CEO Markus Steilemann did not want to comment on the speculation about a takeover interest of the state-owned oil group Abu Dhabi National Oil (Adnoc).

ROUNDUP: Hypoport lowers annual forecast due to weak real estate business

BERLIN - A slump in private real estate financing hit financial services provider Hypoport hard in the past quarter. Due to the surprisingly weak performance of the real estate segment, the SDax company is now taking a more pessimistic view of the current year. The profit warning did not mean anything positive for Hypoport's shares on Tuesday morning. It slipped 14.4 percent to 162.50 euros in early trading.

ROUNDUP: Krones increases profit strongly in the quarter - share loses

NEUTRAUBLING - Filling and packaging equipment manufacturer Krones performed well in the second quarter despite the recent weakness of the economy in many countries. Sales and earnings increased. "After a successful first quarter, the second quarter of 2023 also went well for Krones," company CEO Christoph Klenk wrote in a letter to shareholders Tuesday. He said the international beverage and food industry's willingness to invest remained very high. The subdued development of the global economy had hardly affected business. The stock nevertheless fell sharply in early trading.

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Further news

-ROUNDUP: Redcare Pharmacy raises sales and margin guidance.

-ROUNDUP: Brewers in Germany brace for lasting lean period

-ROUNDUP: Boehringer Ingelheim increases sales and plans to invest heavily

-ROUNDUP 2: Musk's Twitter successor X sues hate speech researchers

-ROUNDUP: Vox for the first time second strongest private station in all viewer groups

-World's largest carmaker Toyota earns significantly better - sales increase

-Investments weigh on operating profit of Pfeiffer Vacuum

-Survey: More major German companies want to stop investments

-Higher prices drive spirits producer Diageo

-Ride service provider Uber posts first operating profit

-ROUNDUP 2: Uniper leaves crisis behind and wants to accelerate green restructuring

-New nuclear reactor goes online in the USA

-Study: German carmakers in particular turn the discount screw

-ROUNDUP 2: New power plants for energy turnaround - Habeck achieves 'breakthrough' with EU

-Components for F-35 stealth bomber: Groundbreaking ceremony for Rheinmetall factory

-Breakdown worries in British beverage industry over tax hike

-Police union criticizes cannabis bill

-ROUNDUP: When will e-cars become cheaper? Wissing relies on company car effect

-More regulations planned for e-car transport at sea

-Regular mail deliveries by drone on Scottish islands

-ROUNDUP: Investments weigh on Pfeiffer Vacuum profit - Outlook confirmed

-TV ratings: ARD summer cinema does well against ZDF crime thriller

-Netherlands: Inspection of burning freighter takes days

-Survey: Few people want to pay 'true prices

-Butter prices slip slightly again°.

Customer Notice:

ROUNDUP: You are reading a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.

/jha