HS Visio brought together the key market news of the past week.
Paypal withdrew from Pinterest
The US payment agency Paypal does not even buy the image sharing service Pinterest.
Paypal was previously reported to be planning to buy Pinterest for $ 45 billion, or more than $ 38 billion, which would have been the most expensive social media acquisition ever.
Now the most expensive remains the acquisition in 2016, in which Microsoft acquired Linkedin for $ 26.2 billion, or more than 22 billion euros.
Buying Pinterest would have accelerated the growth of online advertising, as more and more consumers today make their purchasing decisions with the help of social media.
Tesla’s value exceeded $ 1,000 billion
Electric car maker Tesla’s market capitalization rose more than $ 1 trillion on Monday after it received a large order from rental car company Hertz.
Hertz said it will order 100,000 cars from Tesla by the end of next year. Rental cars come into service in the United States and some European cities.
Investors interpreted Hertz’s order as meaning that Tesla is no longer a niche market product.
Facebook made a profit of nearly $ 10 billion
Technology company Facebook says it made a profit of more than nine billion US dollars in the third quarter. That’s 17 percent more than a year ago.
In addition, the company says its user numbers have continued to grow. According to Facebook, its user base has grown six percent and its services now have nearly three billion users. The company owns social media services including Facebook, Instagram and Whatsapp.
Somejätti has recently received strong criticism for its claim that it would put the company’s revenue ahead of the safety of its users.
Sampo pays an additional dividend
The insurance group Sampo received gross sales of approximately EUR 1,725 million from Nordea shares. On Monday, Sampo sold approximately 162 million Nordea shares to institutional investors in an accelerated tender procedure.
Sampo intends to use the proceeds from the sale to distribute an additional dividend of at least two euros per share and to expand the share repurchase program.
Sampo was required not to sell Nordea shares before November 8, but it agreed to the sale during the restriction period. Now Sampo has committed not to sell Nordea shares before January 24.
The rise in energy prices hit Neste
In July – September, the rise in energy prices in Europe hit Neste’s fuel refinery business. Although the company was able to enjoy an improvement in the profitability of oil refining, a significant increase in the price of natural gas and electricity wiped out some of the benefits. The company expects that the rise in energy prices will affect the result even more towards the end of the year.
Neste’s comparable operating profit in July – September was EUR 368 million, compared to EUR 373 million a year ago. The result exceeded analysts’ expectations.
Net sales in the third quarter amounted to EUR 4.0 billion, compared to EUR 2.9 billion a year ago. The increase was due to higher market and sales prices.
Nokia’s operating profit was again better than forecast
In July – September, the business operations of the network equipment company Nokia performed significantly better than analysts’ expectations.
The company’s turnover was EUR 5.4 billion and operating profit excluding non-recurring items was EUR 633 million. Operating profit was more than EUR 100 million higher than expected.
Net sales grew the most in the Asia-Pacific region and in fixed networks. The result was supported by increased technology investments and strong demand for networks. This year, Nokia’s profitability has been clearly better than expected in each quarter.
The machine’s result fell short of forecasts
Elevator manufacturer Kone’s result in the third quarter fell short of analysts’ forecasts.
The machine’s net sales increased by 0.9 per cent to EUR 2.6 billion from the third quarter of last year. Adjusted operating profit was EUR 326.5 million, compared to EUR 339.8 million in July – September last year. According to analysts’ forecasts, it was estimated to grow to EUR 350.3 million.
According to CEO Henrik Ehrnrooth, the increase in prices affected operating profit.
The ECB warned of a shady economic outlook
Christine Lagarde, President of the European Central Bank (ECB), estimates that the economic recovery in the euro area is still strong, although the near-term outlook is no longer as bright as before. According to Lagarde, the economic outlook in the coming quarters will be overshadowed by a shortage of materials, equipment and labor.
On Thursday, the ECB did not make any changes to monetary policy, nor did it announce when the securities purchases initiated due to the interest rate pandemic will be terminated. The abolition will be discussed at the Governing Council’s meeting in December.
Oura released the third version of his smart ring
Smart ring manufacturer Oura is launching a new, third version of its Oura Ring for sleep and activity monitoring. At the same time, the company aims to expand its business from equipment sales to monthly orders.
In the future, users will have to pay a monthly fee of six dollars, or about five euros, to access all the content offered by the Oura app.
Lemonsoft intends to list on the Helsinki Stock Exchange
The software company Lemonsoft is planning a listing on the First North marketplace of the Helsinki Stock Exchange.
The IPO is expected to consist of a EUR 15 million share issue and share sale of Lemonsoft.
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