Saturday, 21 Sep 2024

Logitech International Down 7% After Morgan Stanley Downgrades

Tell us: how have UK fuel shortages affected you?

If the shortage of fuel has had an impact on you going to work, or any other essential journeys, we would like to hear from you

Last modified on Mon 27 Sep 2021 04.47 EDT

On Monday, Boris Johnson is considering mobilising hundreds of soldiers to help deliver fuel under an emergency plan to deal with petrol stations running dry across the country.

Whether you work at a petrol station, travel for your job, care for loved ones, or rely on a vehicle for other essential journeys, we would like to hear how fuel shortages have affected you. We’re particularly interested in hearing from key workers and their experiences.

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Saudi approves licence for National Bank of Egypt branch, SPA reports

FILE PHOTO: A man withdraws money from an ATM machine at the National Bank of Egypt (NBE) in Cairo, Egypt, April 23, 2020. REUTERS/Mohamed Abd El Ghany

CAIRO (Reuters) – Saudi Arabia’s cabinet approved on Tuesday the licence for the National Bank of Egypt to open a branch in the kingdom, Saudi state news agency SPA reported.

European Economics Preview: Eurozone Monetary Aggregates Data Due

Monetary aggregates data from the euro area is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Denmark is scheduled to issue retail sales data for August. Sales had increased 4.8 percent annually in July.

At 3.30 am ET, Sweden’s household lending data is due for August. Lending had advanced 6.3 percent annually in July.

At 4.00 am ET, the European Central Bank is slated to issue monetary aggregates for August. The euro area M3 money supply is forecast to climb 7.8 percent on year after rising 7.6 percent in July.

In the meantime, Italy’s non-EU trade data is due for August. The trade surplus totaled EUR 6.85 billion in July.

At 7.45 am ET, European Central Bank President Christine Lagarde is scheduled to attend the hearing before the committee on Economic and Monetary Affairs of the European Parliament.

‘Over My Dead Body’: Wondery Sets Latest Instalment Of Anthology Podcast Series

EXCLUSIVE: Wondery anthology podcast series Over My Dead Body profiled Joe Exotic before he became a breakout Netflix star.

The company has now set the latest instalment of the series. Over My Dead Body: Fox Lake will investigate the story of a small-town cop, known as GI Joe, who is gunned down in a swamp in the summer of 2015 and quickly becomes a martyr in the national media.

But when a dogged investigator and his team set out to get justice, they uncover unsettling secrets about Joe, the local police department, and the village of Fox Lake.

The series will be hosted by Matt Baglio, who has written books including Argo: The True Account of the 1979 Rescue of Six American Hostages from Iran and The Rite: The Making of a Modern Exorcist. 

Wondery is the company behind The Shrink Next Door, which is being remade for Apple TV+ and Dr. Death, which was adapted into a series for USA Network.

The Joe Exotic: Tiger King podcast, which came out in 2019, is also being adapted as a limited series for Peacock.

The first instalment of Over My Dead Body, Tally, covered the murder trial of Dan Markel.

Over My Dead Body: Fox Lake will be released on Wondery+ on September 27 and on all podcast platforms on October 11.

 

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Osirium Technologies H1 Result Improves Marginally

Osirium Technologies plc (OSI), a vendor of cloud-based cybersecurity software, on Tuesday announced a marginal improvement to its first half-yearly performance for the six months ended 30 June 2021.

Pre-tax loss was 1.61 million pounds, narrower than 1.68 million pounds in the corresponding period a year ago. Net loss for the period was 1.32 million pounds and 5 pence per share as compared to 1.42 million pounds and 8 pence per share in the year-ago half-year.

The company registered operating loss for the half year of 1.52 million pounds compared with 1.57 million pounds in the corresponding period last year, reflecting reduced overheads. Revenue for the period was 0.74 million pounds as compared to 0.70 million pounds in the previous half year, recording a growth of 5 percent.

Osirium reported customer wins that almost doubled from last year, and also 99 percent customer retention during the six-month period.

Total bookings increased 19 percent to 0.91 million pounds as compared to 0.77 million pounds in the first-half of fiscal 2020.

Despite the Covid-19 scenario, the company has reiterated that its long-term outlook has not changed, and also cited strong momentum into the second half. Osirium Technologies was last traded on September 27 at 25.00 pounds, at same level at previous close.

Logitech International Down 7% After Morgan Stanley Downgrades

Shares of Logitech International S.A. (LOGI) are slipping over 7% on Tuesday morning after Morgan Stanley downgraded the company to Underweight from Equal Weight.

LOGI is currently trading at $89.67, down $7.11 or 7.35%, on the Nasdaq. The stock has traded between $75.11 and $140.17 in the 52-week period.

Morgan Stanley analyst Katy Huberty downgraded Logitech to Underweight from Equal Weight with a price target of $82, down from $119, implying a downside of 17.5%. The report noted that the firm’s data shows cyclical tailwinds were fading and difficult year-over-year growth comparisons approaching for Logitech.

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