FRANKFURT—Deutsche Bank posted a better-than-expected 17 percent rise in first-quarter profit on Wednesday as investment banking revenues climbed, but its share price fell as it warned that the Russia-Ukraine conflict could hurt annual earnings. This year is crucial for Germany’s largest lender and Chief Executive Christian Sewing as he tries to deliver on targets he…
Deutsche Bank Extends Quarterly Profit Streak but Ukraine Clouds Outlook
Deutsche Bank Forecasts ‘Major Recession’ to Begin Late Next Year
Deutsche Bank has cautioned that a “major recession” is on the horizon in a note to clients on Tuesday. The Frankfurt-headquartered bank issued the stark warning in a report titled “Why the coming recession will be worse than expected,” in which it noted that the Federal Reserve must act more quickly and aggressively to prevent…
Deutsche Bank Cuts AMD Price Target by 11 Percent
Deutsche Bank analyst Ross Seymore lowered the price target on Advanced Micro Devices Inc to $125 from $140 and kept a Hold rating on the shares. The price target implied an upside of 17 percent. The re-rating followed AMD’s acquisition of Pensando for $1.9 billion. Pensando offers a fully-programmable, high-performance packet processor and software stack already in use across cloud and enterprise…
Deutsche Bank: Global Subzero Debt Falls to Lowest Level Since December 2015
Global debt at negative yields plummeted below $3 trillion for the first time since December 2015, according to an analysis by Deutsche Bank. With more central banks tightening monetary policy and unveiling efforts to raise interest rates to combat inflation, the share of subzero debt as a percentage of total outstanding bonds cratered in the…
Deutsche Bank Still Finds Big Tech Attractive
Deutsche Bank initiated coverage of the Big Techs, justifying his optimism behind the stocks. Analyst Lee Horowitz initiated Amazon.com Inc with a Buy and $4,100 price target (39.6 percent upside). He believed that the market was under-appreciating upside associated with retail revenue, multi-channel grocery share gains, and the Amazon Web Services revenue implication of the backlog additions that the…
Deutsche Bank to Wind Down Russia Business
March 12, 2022
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FRANKFURT—Deutsche Bank said on Friday that it would wind down its business in Russia. Deutsche had faced criticism from some investors and politicians on Friday for its ongoing ties to Russia after saying that leaving would go against its values, as other banks cut off ties. “Like some international peers and in line with our…
‘For Practical Purposes, That Isn’t an Option’: Deutsche Bank Defends Decision Not to Exit Russia
March 11, 2022
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Deutsche Bank on Thursday defended its decision not to cease its operations in Russia in the wake of its invasion of Ukraine, stating that it is “not practical” to do so. Speaking to CNBC, the German bank’s chief financial officer James von Moltke said exiting the country would “not be the right thing to do”…
Dealmaking Helps Deutsche Bank Land Biggest Profit in a Decade
FRANKFURT—Deutsche Bank delivered its most profitable year in a decade on the back of a dealmaking bonanza, strengthening Chief Executive Christian Sewing’s hand as he fine tunes a new strategy and tackles costly competition for talent. Analysts had forecast a fourth quarter loss and shares in Germany’s largest bank rose by more than 5 percent…
Analysts Bump up Price Targets on This Tech Giant Post Q4 Success
Analysts bumped up price targets on HP Inc post Q4 beat. BofA analyst Wamsi Mohan raised the price target to $33 from $29, implying fair-priced, and reiterated an Underperform. HP reported fiscal Q4 results that beat Street consensus estimates. Better-than-expected average selling prices for Personal Systems, where supply constraints helped HP price more competitively, and…
No Stranger to Turmoil, Dutch Dealmaker Wynaendts Set for Deutsche Chair
FRANKFURT—As head of Dutch insurer Aegon, Alexander Wynaendts led a complex European financial institution with staff around the world and a large U.S. presence during a turbulent decade, an experience that should serve him well as the next chair of Germany’s Deutsche Bank. On Friday, a committee of Deutsche Bank’s supervisory board nominated Wynaendts to…
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