AB Electrolux (publ) (0MDT.IL)
- Reuters
Electrolux boosted by pick up in US, but freight costs weigh
STOCKHOLM (Reuters) -Electrolux swung to a much larger than expected profit in the second quarter amid signs of a long-awaited pick up in its North American business, briefly sending the appliances maker's shares sharply higher on Friday. However, the Swedish company also trimmed its expected cost savings for the year to 4 billion crowns ($375 million), from 4-5 billion crowns previously, mainly due to increased spending on marketing and higher freight costs - in a sign of the impact on global companies from disruptions to trade in the Red Sea. After surging 10% at the open, Electrolux shares were trading up less than 1% by around 0820 GMT.
- Reuters
Electrolux to divest its water heater business in South Africa
Sweden's Electrolux said in a statement on Thursday it had agreed to divest its water heater business in South Africa for about 1.4 billion crowns ($132.69 million). The deal includes the Kwikot brand and production facilities for water heaters in Johannesburg, Electrolux said, adding that it would book a negative earnings impact of about 600 million crowns in the second half of 2024.
- Yahoo Finance UK
Stocks to watch this week: Anglo American, Burberry, TSMC and Netflix
Earnings preview of key companies reporting this week and what to look out for.
