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Stats had a positive effect on the European stock market. European growth stocks

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european growth stocks

West European stock indexes closed Wednesday’s trading with a confident growth. Traders evaluated the fresh batch of statistics and bought European growth stocks.

What influenced European stocks to high growth?

GDP volume in France rose 0.2% in the third quarter compared to the previous three months, final data from the national statistics institute Insee showed. The final data coincided with a preliminary estimate. Analysts, on average, had not expected a revision, according to a Trading Economics survey. GDP growth slowed from a 0.5% rebound in the second quarter.

Consumer prices in France, harmonized with European Union standards, rose 7.1% year-over-year in November. Insee also reported. The November rate of increase in consumer prices coincided with that of October, and analysts polled by Trading Economics expected inflation to remain at the same level.

Consumer spending in the country collapsed by 2.8% in October compared with the previous month. Analysts polled by Bloomberg expected a more moderate decline of 1 percent. The consensus forecast of experts polled by Trading Economics envisioned a 0.6% decline. The decrease in consumer spending was the maximum since April 2021.

The number of unemployed in Germany increased by 17 thousand in November, according to the Federal Employment Agency of Germany. The rise in the index was marked at the end of the sixth month in a row. Experts interviewed by Bloomberg agency, on average, predicted an increase of 13.5 thousand. Respondents to Trading Economics expected an increase of 13 thousand.

Additional positives for investors in European markets on Wednesday were messages about easing of coronavirus restrictions in a lot of cities in China. Note that Amazon’s stock price is also rising if you are interested in the U.S. stock market.

Earlier, we reported that U.S. stock indices were up 2.2-4.4%.

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Skechers CEO sells shares worth over $1.8 million

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Skechers CEO sells shares worth over $1.8 million
© Reuters.

Skechers USA Inc . (NYSE:) has reported several transactions involving its shares by company insiders, including the Chief Executive Officer, Robert Greenberg. According to the latest filings, Greenberg sold a total of 30,339 shares at prices ranging from $61.11, amounting to over $1.8 million.

The transactions, which took place on March 15, 2024, were part of a series of recent insider activities at the footwear company. On the same day, Greenberg also received 59,650 restricted shares of Class A Common Stock as an award, with a portion vesting over the next three years based on continued service with the company. These shares are subject to performance-based metrics that will determine the final number of shares earned.

Another transaction reported on March 14 involved the exercise of options where Greenberg disposed of 31,176 shares at a price of $61.42 per share, which totaled approximately $1.9 million. The shares were part of a performance-based stock award granted in March 2021, which were linked to the company’s total stock return over a three-year period.

The filings also noted the award of additional performance-based shares that are eligible to vest based on the company’s achievement of certain performance objectives over the next three years. These transactions are a routine part of executive compensation and are often scheduled in advance.

Investors and market watchers closely monitor insider transactions as they can provide insights into executives’ perspectives on the company’s future performance. Shares of Skechers USA Inc. are publicly traded, and such disclosures are required by regulations to ensure transparency in the financial markets.

InvestingPro Insights

Amidst the recent insider transactions at Skechers USA Inc. (NYSE:SKX), investors might find it useful to consider the company’s current financial health and market performance as reflected by InvestingPro metrics. Skechers is trading at a P/E ratio of 17.16, which is considered low relative to its near-term earnings growth. This indicates that the stock may be undervalued given its earnings potential, a point underscored by the adjusted P/E ratio for the last twelve months as of Q4 2023, which stands slightly lower at 16.92.

The company’s liquidity position is also robust, with liquid assets surpassing short-term obligations, suggesting financial stability and the ability to meet immediate liabilities. Furthermore, Skechers operates with a moderate level of debt, which may provide some comfort to investors concerned about financial leverage in uncertain economic times.

From a performance standpoint, Skechers has experienced a large price uptick over the last six months, with a 29.57% return, reflecting strong investor confidence. This is coupled with a notable 7.47% revenue growth in the last twelve months as of Q4 2023, which could be a positive signal for future profitability—a sentiment echoed by analysts who predict that the company will be profitable this year.

For those seeking more in-depth analysis, there are additional InvestingPro Tips available, including insights on Skechers’ high return over the last decade and its lack of dividend payments to shareholders. To access these insights and more, investors can visit: https://www.investing.com/pro/SKX. Moreover, users can take advantage of the special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a treasure trove of financial data and expert analysis.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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China Resources Beer stock target raised, retains Buy rating

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China Resources Beer stock target raised, retains Buy rating
© Reuters.

On Monday, Jefferies maintained a Buy rating on China Resources Beer Holdings Co Ltd. (291:HK) (OTC: CRHKY) and slightly increased the stock price target to HK$44.67 from the previous HK$44.50. The firm’s adjustment reflects modest earnings revisions and confidence in the company’s strategic direction.

China Resources Beer is embarking on its third three-year plan, emphasizing a premiumization strategy for its brewery operations.

The company aims to dominate the RMB12-15 price segment with its Heineken (AS:) brand. In addition, for its baijiu business, China Resources Beer is committed to achieving RMB10 billion in sales within the next three to five years. This goal will be pursued through a dual-brand strategy, retail price control, and a focus on five key provinces.

The marginal increase in the stock price target to HK$44.67 is attributed to revisions in earnings expectations. Jefferies’ analyst notes that the company’s strategic efforts are well-aligned with its aspirations to lead in its selected market segments.

China Resources Beer’s dedication to its premiumization approach and the baijiu business’s targeted growth plan are key components of the company’s ongoing efforts to enhance its position in the market. The firm’s approach to controlling the retail price and concentrating on strategic provincial markets is expected to contribute to achieving its sales objectives.

Investors have been provided with the updated price target as a reflection of the company’s potential trajectory based on its current strategies and market initiatives. The maintained Buy rating indicates a positive outlook on the stock’s future performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Super Micro Computer stock falls after S&P 500 addition

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Super Micro Computer stock falls after S&P 500 addition
© Reuters. Super Micro Computer (SMCI) stock falls after S&P 500 addition

The Super Micro Computer (NASDAQ:) stock price declined more than 9% on Monday, the day the server-maker was added to the S&P 500.

At the start of March, S&P Dow Jones Indices announced changes to the index, saying Super Micro Computer and Deckers Outdoor Corp will replace Whirlpool and Zion Bancorporation in the S&P 500, respectively.

SMCI’s stock has been a significant winner in the last 12 months, rising an enormous 897% as the company continues to benefit from the surge in artificial intelligence demand. The company has become a go-to supplier for businesses and governments eager to participate in the AI boom.

The inclusion of SMCI stock in the S&P 500 means it is the index’s new top one-year performer. However, the SMCI stock price is currently trading at $968 per share after a 9.55% decline on Monday. If, as expected, SMCI shares do close lower, it will be their third down day in a row following an increase that saw them reach an intraday high of $1,229 last week.

“Supermicro is honored to be included in the prestigious ,” said Charles Liang, President and CEO of Supermicro. Liang has led the company for its entire history.

“This achievement shows the dedication and hard work of our entire worldwide team to deliver green computing and our Building Block Architecture to become a leader in the emerging AI space as large and small organizations move toward higher productivity,” he added.

Like Nvidia, SMCI has been a frontrunner in the AI boom. Its servers are the hardware used to run AI chips from Nvidia and other producers. In a recent interview with The Wall Street Journal, Liang said that the SMCI base in San Jose, California, is just a 15-minute drive from Nvidia’s headquarters in Santa Clara, their “engineering teams are able to work together from early morning to midnight.”

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