3 Hours Ago
Temenos shares rebound 6.5% following pushback against Hindenburg report
Shares in Swiss software company Temenos were up more than 6.5% in early deals on Monday, rebounding from steep losses at the end of last week.
The stock fell 6% on Friday, compounding a 28% tumble during the previous day, after it released a statement saying its board of directors “fundamentally refutes” a report by short-seller Hindenburg Research.
The report alleged “hallmarks of manipulated earnings and major accounting irregularities” at Temenos, basing its allegations on a four-month investigation which included interviews with 25 former employees of the company.
Tenemos shares were up 6.7% by 9:40 a.m. London time.
— Karen Gilchrist
4 Hours Ago
Stocks on the move: AstraZeneca up 3.4%, Bechtle down 3%
Shares of AstraZeneca rose 3.4% in early deals Monday after the U.S. Food and Drug Administration approved use of the company’s blockbuster cancer drug Tagrisso with chemotherapy to treat a type of lung cancer.
Meantime, shares of German IT company Bechtle fell 3% after receiving an “underweight” rating from Barclays over what it described as the firm’s limited profit prospects for this year.
— Karen Gilchrist
12 Hours Ago
CNBC Pro: A ‘good year’ for stocks: Morgan Stanley’s Slimmon names 3 to buy right now
Equity markets have been having a pretty good year so far, with the S&P 500 benchmark closing above 5,000 for the first time last week.
“I think it is very encouraging because what it says is that earnings estimates for this year are not going down, and they’re potentially, probably going higher. And that’s important for the market,” Andrew Slimmon, managing director and senior portfolio manager and Morgan Stanley Investment Management, told CNBC.
Saying it’s going to be a “good year for equities,” Slimmon shared three stocks he likes.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
12 Hours Ago
CNBC Pro: These are the only 2 ETFs that made money every year for the past decade
Two funds investing in defensive stocks are the only exchange-traded funds worldwide that had a positive return every year over the past decade, CNBC Pro research has found.
The two funds stood out among 8,300 equity ETFs worldwide screened by CNBC Pro. Both funds have more than doubled investors’ cash over the past decade.
CNBC Pro subscribers can read more here.
— Ganesh Rao
8 Hours Ago
European markets: Here are the opening calls
European markets are set to open in negative territory Monday.
The U.K.’s FTSE 100 index is expected to open 19 points lower at 7,692, Germany’s DAX down 44 points at 17,069, France’s CAC down 23 points at 7,745 and Italy’s FTSE MIB down 91 points at 31,716, according to data from IG.
New car registration data for January from Italy, Germany, France, the Netherlands and U.K. are due Monday.
— Holly Ellyatt
