February 5th, 2021 | 12:22 CET
Deutsche Bank, wallstreet:online, Bayer - The return of the giants!
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"[...] The mere fact that we have to write off around EUR 5 million shows that mistakes were made. We have to admit this quite openly to ourselves. [...]" André Kolbinger, CEO, Smartbroker Holding AG
wallstreet:online - better than any advertisement!
Sometimes the best thing you can do is one thing: Nothing! In the beginning, it was primarily about one share: GameStop. American hedge funds tried to sell the stock short. Young investors banded together via the "WallStreetBets" community on the Reddit platform and decided to buy GameStop with combined forces. As a result, some brokers, such as the German neobroker Trade Republic, felt compelled to restrict trading in GameStop shares. Although the apology emails now mainly refer to "technical overload." As described in the emails we received, Trade Republic did not want to accept buy orders for shares of GameStop Corp, AMC Entertainment Inc, BlackBerry Limited, Nokia Corp, Express Inc and Bed Bath & Beyond Inc. However, in reality, the neobroker wanted to protect its customers because of the associated risks - a clear interference on the users' investment decision! A clear loss of trust. A brutal shitstorm was the result.
Other brokers, such as Smartbroker, which belongs to the wallstreet:online group, did better. There were neither trading bans nor did the platform go down the tubes due to overload. One cannot wish for a better advertisement for a service provider. Smartbroker board member Thomas Soltau expressed himself as follows: "With our Smartbroker, we have developed a product with which we want to significantly lower financial hurdles when buying securities. We see ourselves as a processor of customer orders. Consequently, we saw no reason to restrict trading. However, if the supervisory authorities or the settlement agents were to issue corresponding instructions, we would ofcourse follow them and inform our customers immediately. Technical malfunctions as a reason for the restrictions are also certainly understandable, but our system was able to process the traded volume - which also set new records for us - without any problems." Shares in wallstreet:online AG rose from EUR 16 to EUR 23 yesterday since the incident, a new all-time high - this is what confidence looks like.
Deutsche Bank - Back to profitability
Deutsche Bank can still be optimistic - and even in the Corona Crisis year 2020. The pre-tax profit of EUR 1 billion was even better than planned by the new Board of Managing Directors, with a net plus of EUR 624 million. "In the most important year of our transformation, we succeeded in more than offsetting the transformation costs and the increased risk provisioning - despite the global pandemic," Group CEO Christian Sewing summed up. "We are sustainably profitable and confident that the overall positive trend will continue in 2021, even in these difficult times," Sewing said. According to the CEO, the phase of most intensive restructuring has now been completed.
The former industry leader also wants to shine in the black this year. According to CEO Christian Sewing, the goal is to achieve an 8% after-tax return on tangible equity in 2022. "That means we also want to be profitable in 2021." Swiss bank UBS left its rating on the stock at "neutral" with a price target of EUR 9.30. Analysts see the bank's business figures in line with expectations. Costs were slightly lower than expected, they said.
Bayer - Farewell Monsanto
Will the nightmare soon be over? After a failed settlement in the summer, the German pharmaceutical giant is making progress in the glyphosate affair. A new agreement has now been published with opposing lawyers on how to deal with future lawsuits in the coming years. However, the Leverkusen-based Company will have to dig deeper into its pockets under this option. The current agreement is expected to cost a total of USD 2 billion, a mere USD 750 million more than the planned settlement six months ago. In return, the new agreement has new clauses that should protect against mass lawsuits for at least the next four years.
Deutsche Bank continues to see Bayer as a buy candidate and assigns a price target of EUR 63. Deutsche Bank analysts wrote this in a study on the occasion of the compromise in a crucial part of the billion-dollar glyphosate settlement with US plaintiffs. The experts said this was evidence of progress, but it would be worth nothing if the federal judge disagreed. They expect a decision within 30 days. Should the court agree, there will be a sensible solution to the glyphosate legal dispute.
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