Actions in motion: Philips is redeemed, Atos breathes and Porsche fails

Climbing

Philips (+45%): A major electronics company specializing in the health sector can be relieved to reach an agreement in the United States to resolve disputes linked to its respiratory equipment. The latter were the subject of a costly recall from 2021 due to the presence of a potentially carcinogenic component. The company agreed to pay $1.1 billion without admitting any wrongdoing or liability. This agreement, which is lower than the market expectations which were in the range of 2 to 4 billion dollars, concludes the great weight that had weighed on the title. Additionally, Philips’ first quarter operating performance exceeded expectations.

Atos (+16%).

Swiss Steel Holding (+9%): A company specializing in steel production and which is going through very difficult times has proposed a merger of shares at a ratio of 200 to 1. This move aims to make the company’s shares more attractive. The proposal will be submitted for approval at the annual general meeting scheduled for May 23. In addition, the company is changing its board of directors with three new members.

Flatexdegiro (+4.1%): The online broker continues its momentum from last weekend. The stock was already up 22% on Friday. Deutsche Bank maintains its buy recommendation.Â

To fall

Deutsche Bank (-6%): The bank must set aside a provision of approximately 1.3 billion euros following a court decision on the purchase of Post Bank in 2010. It is too early to determine the impact of this on the accounts.

Porsche (-3%): The German manufacturer is starting the year quite nervously. The results are reduced due to the renewal of several models. However, Porsche confirmed its estimates for the full financial year.