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DB

Deutsche Bank

$13.87

-0.45 (-3.14%)

06:06
04/09/18
04/09
06:06
04/09/18
06:06

Deutsche Bank CEO Sewing: 'We have to regain our hunger for business'

Christian Sewing, Deutsche Bank's new CEO, sent out a message to all employees: "The challenge ahead is a big one for all of us. We all know and sense how fast our industry is changing. The time pressure is on and the expectations are high from all sides - our clients, our investors, the regulators, politicians and the media. Two stakeholder groups are now my main focus: our clients and you my valued colleagues. The expertise and drive of our employees around the globe is what characterises our bank. However, we know that we will have to develop further. This is for us to actively manage. We have to make decisions faster and more clearly, we have to collaborate better, and we have to put team spirit at the heart of what we do. To unlock our bank's greatest potential we must all think more about how to support our colleagues. This is what will make Deutsche Bank more successful. Rest assured that I will emphasise a team approach. That will be the first imperative for the Management Board: teamwork starts with us and in particular between Garth, Karl and myself. First and foremost, it is crucial that we reach our revenue and cost targets in all areas:With regard to our revenues we have to regain our hunger for business, achieve improvements in all business divisions and set the bar higher. Our start to the year was solid but 'solid' cannot be our ambition. All of us can contribute to growth, both in business divisions and infrastructure functions. Our adjusted costs must not exceed 23 billion euros in 2018. This is non-negotiable. We have largely put in place the programmes to get there, now we will implement them with discipline. Setbacks like in the fourth quarter of 2017 are not to be repeated under any circumstances. Each division and each of us has to internalise this.In terms of learning from past mistakes - which is important - we have made good progress. But we have to regain our speed again. To this end we will revise our internal processes to eliminate bureaucracy and duplication. It does not need saying that we want to and have to become profitable again. And for that we need to be successful, that's our lifeline. In sharp contradiction though is how we missed some of our targets for costs and revenues. There may have been good reasons in some cases. But it was damaging for our bank. The new leadership team will not accept this anymore. We'll have to take tough decisions and execute them."

  • 22

    May

DB Deutsche Bank
$13.87

-0.45 (-3.14%)

02/19/18
BOFA
02/19/18
UPGRADE
BOFA
Neutral
Deutsche Bank upgraded to Neutral from Underperform at BofA/Merrill
02/14/18
02/14/18
DOWNGRADE
Target $48

Hold
Luxoft downgraded to Hold on 'elongated turnaround' at Pivotal Research
As previously reported, Pivotal Research analyst Lou Miscioscia downgraded Luxoft (LXFT) to Hold from Buy, as he now expects most of FY19 to be "a struggle." He had expected the company's two biggest customers - namely Deutsche Bank (DB) and UBS (UBS) - to be about flat for FY19, but now they are suggested to be down 20% and 5%, respectively, Miscioscia said. Noting also that the company cut its FY18 guidance along with its Q3 report, the analyst lowered his price target on Luxoft to $48 from $70.
11/20/17
11/20/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) downgraded to Neutral from Buy at Goldman Sachs with analyst Matthew Fassler sayign valuation following "powerful" share appreciation now reflects the company's progress in growing earnings. 2. Five Below (FIVE) downgraded to Hold from Buy at Loop Capital with analyst Anthony Chukumba citing valuation. 3. Live Nation (LYV) downgraded to In Line from Outperform at Evercore ISI with analyst David Joyce citing valuation. 4. Monster Beverage (MNST) downgraded to Negative from Neutral at Susquehanna with analyst Pablo Zuanic citing its high valuation, which he believes is misplaced due to assumptions about an offer from Coca-Cola (KO). 5. Deutsche Bank (DB) downgraded to Underperform from Market Perform at Keefe Bruyette. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/20/17
KBWI
11/20/17
DOWNGRADE
KBWI
Underperform
Deutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst George Karamanos downgraded Deutsche Bank to Underperform.

TODAY'S FREE FLY STORIES

CMG

Chipotle

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6.4 (1.92%)

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CMG

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WELL

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$50.45

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ALGN

Align Technology

$245.24

5.72 (2.39%)

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FB

Facebook

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0.03 (0.02%)

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WELL

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$50.45

-0.57 (-1.12%)

, QCP

Quality Care Properties

$22.72

1.92 (9.23%)

05:25
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ANTM

Anthem

$238.81

13.73 (6.10%)

05:22
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FB

Facebook

$159.69

0.03 (0.02%)

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ERN

Erin Energy

$1.65

-0.825 (-33.33%)

05:18
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CTXS

Citrix

$96.54

0.04 (0.04%)

05:16
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AMD

AMD

$9.72

-0.37 (-3.67%)

05:13
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  • 02

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EBAY

eBay

$40.98

-0.2 (-0.49%)

05:09
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TRVG

Trivago

$4.71

-1.65 (-25.94%)

05:01
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HPR

HighPoint Resources

$6.65

0.14 (2.15%)

04:58
04/26/18
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HighPoint Resources initiated  »

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  • 09

    May

AVY

Avery Dennison

$106.68

1.195 (1.13%)

04:57
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  • 26

    Apr

04:55
04/26/18
04/26
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04:55
General news
Jobless Claims to be reported at 08:30 »

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WYN

Wyndham

$117.67

1.83 (1.58%)

, LQ

La Quinta

$19.70

0.08 (0.41%)

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La Quinta to host special shareholder meeting »

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WYN

Wyndham

$117.67

1.83 (1.58%)

LQ

La Quinta

$19.70

0.08 (0.41%)

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  • 26

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General news
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ABBV

AbbVie

$91.91

0.57 (0.62%)

, ACOR

Acorda Therapeutics

$22.95

-0.15 (-0.65%)

04:55
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Conference/Events
American Academy of Neurology to hold annual meeting »

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ABBV

AbbVie

$91.91

0.57 (0.62%)

ACOR

Acorda Therapeutics

$22.95

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ALXN

Alexion

$106.07

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AKCA

Akcea Therapeutics

$26.85

0.02 (0.07%)

RHHBY

Roche

TEVA

Teva

$17.27

-0.28 (-1.60%)

UBS

UBS

$16.78

-0.095 (-0.56%)

MDT

Medtronic

$79.47

0.12 (0.15%)

MCK

McKesson

$151.70

2.76 (1.85%)

NVTA

Invitae

$5.53

-0.15 (-2.64%)

IONS

Ionis Pharmaceuticals

$43.98

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IPXL

Impax

$19.25

-0.65 (-3.27%)

DNA

Bought by RHHBY

DGX

Quest Diagnostics

$101.17

1.42 (1.42%)

ESALY

Eisai

DEPO

Depomed

$6.66

-0.17 (-2.49%)

CPRX

Catalyst Pharmaceuticals

$2.64

0.04 (1.54%)

BSX

Boston Scientific

$29.44

1.01 (3.55%)

BMRN

BioMarin

$81.41

0.33 (0.41%)

MYL

Mylan

$38.93

-1.32 (-3.28%)

NBIX

Neurocrine

$78.13

-0.3 (-0.38%)

NVS

Novartis

$76.42

-0.58 (-0.75%)

PFE

Pfizer

$36.69

-0.36 (-0.97%)

RARX

RA Pharmaceuticals

$5.76

-0.2 (-3.36%)

SNY

Sanofi

$40.11

0.335 (0.84%)

SYK

Stryker

$165.44

0.77 (0.47%)

SUPN

Supernus

$47.30

0.55 (1.18%)

LLY

Eli Lilly

$81.17

1.08 (1.35%)

BAYRY

Bayer

AMGN

Amgen

$174.83

2.92 (1.70%)

ALNY

Alnylam

$94.35

-0.34 (-0.36%)

BIIB

Biogen

$269.47

7.45 (2.84%)

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