FTSE 100 LIVE: London shares edge higher as European markets slump amid Brexit

Software AG Projects Q3 Non-IFRS Operating Profit Margin Between 16%-17%

Software AG (STWRY.PK) said EBIT is anticipated in a range of 20.4 million euros to 23.9 million euros in the third quarter, and operating EBITA (non-IFRS) in a range of 28.4 million euros and 31.9 million euros. Operating profit margin (non-IFRS) is projected to be between 16 and 17 percent.

For the third quarter, the company projects total revenue in a range of 180.5 million euros to 185 million euros. Total product revenue is expected in a range of 147.5 million euros to 151 million euros. Digital Business is anticipated to have delivered bookings growth of between 14 and 17 percent, with stated revenue between 8 to 10 percent lower year-on-year at between 101.5 million euros and 104.0 million euros, reflecting the technical impact of the Group’s accelerating shift to subscription and SaaS.

Software AG remains confident in its ability to deliver to full year 2020 guidance. The Group reconfirmed 2023 ambitions, including plans to reach 1 billion euros of revenue and expand operating margin to a 25 to 30 percent range.

Software AG expects to to publish full third quarter results within a month.

Joe Biden Unveils Powerful New Ad Featuring One Of America’s Most Iconic Voices

Democratic presidential candidate Joe Biden debuted a rousing new ad during Game One of the World Series featuring the instantly recognizable voice of actor Sam Elliott.  

“Go From There” doesn’t mention President Donald Trump once. 

Instead, it promises voters a fresh start.

“There is so much we can do if we choose to take on problems and not each other and choose a president who brings out our best,” Elliott says. “Joe Biden doesn’t need everyone in this country to always agree. Just to agree we all love this country ― and go from there.” 

We want to know what you’re hearing on the ground from the candidates. If you get any interesting ― or suspicious! ― campaign mailers, robocalls or hear anything else you think we should know about, email us at [email protected].

Ericsson Turns To Profit In Q3; Positive On Longer-term Outlook – Quick Facts

Swedish telecom equipment maker Ericsson (ERIC) reported Wednesday that its third-quarter net income was 5.6 billion Swedish kronor, compared to last year’s loss of 6.9 billion kronor. Earnings per share were 1.61 kronor, compared to loss of 1.89 kronor a year ago.

The prior year’s results were hurt by cost provisions of 11.5 billion kronor related to the investigation by the United States Securities and Exchange Commission and the United States Department of Justice as well as a refund of social security costs of 0.9 billion kronor.

Gross margin excluding restructuring charges improved to 43.2 percent from last year’s 37.8 percent.

Net sales were 57.5 billion kronor, higher than last year’s 57.1 billion kronor. Sales adjusted for comparable units and currency increased 7 percent mainly driven by 5G sales in Mainland China.

Networks sales increased 6 percent, with an increase of 13 percent adjusted for comparable units and currency.

Looking ahead, President and CEO Börje Ekholm said, “We remain positive on the longer-term outlook for the industry and Ericsson. The year to date results strengthen our confidence in delivering on the 2020 Group target.”

Akzo Nobel Q3 Profit Rises – Quick Facts

Akzo Nobel N.V. (AKZOY.PK,AKZOY) reported that its third-quarter net income attributable to shareholders increased 36% to 220 million euros from 162 million euros last year.

Earnings per share from total operations were 1.15 euros compared to 0.79 euros in the previous year.

Adjusted earnings per share from continuing operations rose 34% to 1.30 euros from 0.97 euros last year.

But, revenue for the quarter declined 5% year-over-year to 2.28 billion euros from last year, while it was up 1% in constant currencies.

Volumes were up 3%, showing strong demand for Decorative Paints, partly offset by lower volumes of Performance Coatings and unfavorable price/mix of 1%.

AkzoNobel has suspended its 2020 financial ambition in response to the significant market disruption resulting from the pandemic. Raw material costs are expected to have a favorable impact for the fourth quarter of 2020.

The company targets a leverage ratio of 1-2 times net debt/EBITDA and commits to retain a strong investment grade credit rating.

FTSE 100 LIVE: London shares edge higher as European markets slump amid Brexit

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But the EURO STOXX 50 has been lowering on Tuesday as Brexit negations continue between the UK and European Union. The FTSE 100 is seen up by 4.5 points at 5889, while the EURO STOXX 50 is down by 14.6 points at 3227.

On Tuesday a top Bank of England official said negative rates could be needed to boost the economy as a second coronavirus wave hits the recovery.

Gertjan Vlieghe, a member of the Bank’s Monetary Policy Committee, told the Telegraph that growth was slumping and therefore more stimulus could be on its way.

He said in countries where negative rates have already been tried, “the effect has generally been positive”.

But he added that “QE is probably less potent now than in March”.