ROUNDUP: Adidas becomes more optimistic for 2023 after Yeezy sale

HERZOGENAURACH - Business at sporting goods maker Adidas has been better than expected after difficult months surrounding controversial rapper Kanye West's Yeezy products in the summer. The sale of the remaining Yeezy articles also contributed to this, as the Dax Group announced on Tuesday evening in Herzogenaurach. The Executive Board therefore also raised its targets for the full year again. On the stock market, the preliminary figures and the raised forecast were well received. Adidas shares rose 4.41 percent to 178.50 euros in early Wednesday trading. This brings the share price gain since the turn of the year to around 40 percent.

ROUNDUP: High interest income puts Flatexdegiro back on track

FRANKFURT - After the slump in the trading business, the online broker Flatexdegiro is benefiting from increased interest rates, of all things. Admittedly, the company's customers still traded less in stocks, bonds and ETFs in the summer than a year earlier. But the increased interest rates let turnover and operating profit of the company in the high. On the stock market, the news went down well: Flatexdegiro shares were up more than 11 percent at times Wednesday morning.

Procter & Gamble confident for new fiscal year after good start

CINCINNATI - U.S. consumer goods group Procter & Gamble is already confident about the current fiscal year after the first few months. "We delivered very strong results in the first quarter, putting us on track to reach the upper end of our guidance range," said group CEO Jon Moeller, according to a statement. In the three months to the end of September, the company increased its earnings from its own resources - that is, excluding currency effects and acquisitions - by seven percent to just under 21.9 billion U.S. dollars (20.7 billion euros), it said Wednesday in Cincinnati, Ohio. Procter & Gamble is known for brands such as Ariel, Pampers and Oral-B.

Morgan Stanley earns less due to higher personnel costs

NEW YORK - U.S. bank Morgan Stanley posted a drop in profits in the summer due to higher personnel costs. The surplus was at 2.4 billion U.S. dollars (2.3 billion euros) almost nine percent lower than a year earlier, as the money house announced on Wednesday in New York. Although the bank increased its earnings by two percent to just under 13.3 billion dollars. But personnel costs grew about six percent to $5.9 billion, more than eating up the higher revenues. The bank also set aside more money for impending loan defaults. The news went down badly in the financial market: Morgan Stanley shares initially lost more than two percent in pre-market U.S. trading.

ROUNDUP: Lieferando parent Just Eat Takeaway raises profit forecast.

AMSTERDAM - Lieferando parent Just Eat Takeaway wants to earn even more operationally for the current year than previously forecast. Earnings before interest, taxes, depreciation and amortization (Ebitda) adjusted for special effects should now rise to around 310 million euros, the food delivery service announced in Amsterdam on Wednesday. Previously, the board had targeted 275 million euros after 19 million in the previous year. In addition to the sharpened annual targets, the company also announced a new share buyback program after the last one was only completed in September.

Storms and hail eat into insurer Travelers' profits

NEW YORK - High losses from storms and hail continued to weigh on U.S. insurer Travelers in the third quarter. The bottom line was a profit of 404 million U.S. dollars (382 million euros), eleven percent less than a year earlier, the company said Wednesday in New York. In the second quarter, severe storms and hailstorms had even dragged the insurer into the red. The latest news was initially well received on the financial market: Travelers shares rose by around one percent in pre-market U.S. trading.

ASML turns over less - orders slump

VELDHOVEN - Chip supplier ASML felt the full force of the industry's weakness in orders in the third quarter. The value of new orders slumped 42 percent from the previous quarter to 2.6 billion euros, the EuroStoxx 50 heavyweight said Wednesday in Veldhoven. Experts surveyed by Bloomberg had expected the figure to be unchanged. Sales fell just over three percent to just under 6.7 billion euros. Here, too, analysts had expected a higher figure. Gross margin, on the other hand, was slightly better than expected. Compared with the second quarter, this had risen slightly to 51.9 percent.

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Further news

-ROUNDUP: U.S. tightens chip restrictions for China

-ABB increases sales on declining order intake

-Commercial vehicle manufacturer Volvo earns significantly more

-Hella, the headlamp specialist, increases sales significantly

-United Airlines disappoints investors with profit forecast

-Commercial vehicle supplier SAF-Holland raises annual targets again

-Specialty chemicals group Lanxess cuts 870 jobs

-EU countries want to protect consumers from escalating electricity prices

-U.S. Transportation Department investigates robot cab company Cruise

-Companies bring more women into the top ranks

-Musk's Twitter successor X tests restrictions on free users

-Roche cancer drug Alecensa shows strong effect in lung cancer patients

-Vaccine fatigue: pharma industry expects sales drop after Corona boom

-Association: Geothermal energy could secure 40 percent of heat supply

-EU court: EU tariffs on Zippo lighters from the USA illegal

-Lauterbach: AI can noticeably improve medical treatment

-Court: Halving of pension for members of parliament constitutional

-BMW adopts Tesla charging standard in the USA

-Cropenergies expects sales and earnings to decline in quarter

-First rocket launch in German North Sea planned for April 2024

-Wage increase instead of cuts: VW works council wins in court

-Air France to concentrate all flights at Paris Charles de Gaulle

-Traton service provider wants to make it easier for e-trucks to charge electricity°.

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