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DB

Deutsche Bank

$12.28

0.1 (0.82%)

06:18
07/25/18
07/25
06:18
07/25/18
06:18

Deutsche Bank reports Q2 net income EUR401M, down 14% y/y

Deutsche Bank reported net income of 401 million euros in the second quarter of 2018, down 14% year-on-year, on profit before tax of 711 million euros, down 13% year-on-year. These results were achieved against a backdrop of accelerated implementation of strategic measures announced by the new management team at the beginning of the quarter. The Common Equity Tier 1 ratio rose from 13.4% to 13.7% in the quarter and remains well above the bank's target of over 13%. The fully loaded leverage ratio rose from 3.7% to 4.0%, as management executed on its strategic objective to reduce leverage exposure in the Corporate & Investment Bank. Net revenues were 6.6 billion euros, essentially unchanged versus the second quarter of 2017 on a reported basis. On a full-time equivalent basis, the number of internal employees was 95,429 at the end of the quarter, the lowest level since the acquisition of Postbank in 2010. This was down approximately 1,700 in the quarter. The reduction primarily reflects management action to implement strategic measures announced in April 2018. In the year to date, workforce reductions came to 2,100 full-time equivalents. Management believes the bank is on track to reduce the workforce, as previously announced, to below 93,000 by the end of 2018 and well below 90,000 by the end of 2019. Provision for credit losses was 95 million euros in the quarter, up from 79 million euros in the second quarter of 2017. Christian Sewing, CEO, said: "In the second quarter we accelerated the reshaping of our bank significantly and proved the resilience of our global business. We're making important changes to our core businesses as promised, we're headed in the right direction on costs, and our balance sheet quality is strong. This gives us the flexibility to invest in areas where we have particular strengths."

DB Deutsche Bank
$12.28

0.1 (0.82%)

06/01/18
RBCM
06/01/18
DOWNGRADE
RBCM
Underperform
Deutsche Bank downgraded to Underperform from Sector Perform at RBC Capital
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.

TODAY'S FREE FLY STORIES

ATEX

Anterix

$46.95

-0.66 (-1.39%)

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TNXP

Tonix Pharmaceuticals

$0.57

-0.4087 (-41.75%)

21:08
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HTHT

Huazhu Group

$34.88

0.23 (0.66%)

21:05
07/16/19
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Earnings
Huazhu Group sees Q2 revenue growth of 13%-15% »

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PS

Pluralsight

$30.66

-0.71 (-2.26%)

20:58
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Pluralsight initiated at KeyBanc »

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TWOU

2U

$38.60

-0.34 (-0.87%)

20:57
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Initiation
2U initiated at KeyBanc »

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BVN

Buenaventura

$16.31

-0.03 (-0.18%)

20:36
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Buenaventura reports Q2 Orcopampa gold production 10.7K oz vs. 5.9K in Q1 »

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HOPE

Hope Bancorp

$13.96

0.2 (1.45%)

20:33
07/16/19
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Hope Bancorp authorizes $50M stock repurchase program »

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Conference/Events
CLSA Asian tech analyst team to hold an analyst/industry conference call »

Asian Technology Analysts…

BAC

Bank of America

$28.99

-0.23 (-0.79%)

, ABT

Abbott

$83.11

-0.69 (-0.82%)

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07/16/19
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Earnings
Notable companies reporting before tomorrow's open »

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BAC

Bank of America

$28.99

-0.23 (-0.79%)

ABT

Abbott

$83.11

-0.69 (-0.82%)

USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

PNC

PNC Financial

$138.66

-1.52 (-1.08%)

PGR

Progressive

$84.11

0.105 (0.12%)

BK

BNY Mellon

$43.13

-0.02 (-0.05%)

OMC

Omnicom

$84.08

0.065 (0.08%)

TXT

Textron

$54.02

0.59 (1.10%)

CMA

Comerica

$71.75

0.39 (0.55%)

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SCGLY

Societe Generale

$0.00

(0.00%)

20:08
07/16/19
07/16
20:08
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20:08
Upgrade
Societe Generale rating change at JPMorgan »

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SPY

SPDR S&P 500 ETF Trust

$299.75

-1.03 (-0.34%)

, SPX

S&P 500

$0.00

(0.00%)

20:06
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Periodicals
SF Fed President Daly not leaning in either direction on rates, Reuters says »

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SPY

SPDR S&P 500 ETF Trust

$299.75

-1.03 (-0.34%)

SPX

S&P 500

$0.00

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WAFD

Washington Federal

$34.63

0.02 (0.06%)

20:02
07/16/19
07/16
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Earnings
Washington Federal reports Q3 EPS 67c, consensus 64c »

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PAGS

PagSeguro Digital

$44.72

0.755 (1.72%)

19:16
07/16/19
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Initiation
PagSeguro Digital initiated at Evercore ISI »

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SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

, CTAS

Cintas

$239.46

-3.85 (-1.58%)

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SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

CTAS

Cintas

$239.46

-3.85 (-1.58%)

UAL

United Continental

$94.00

2.7 (2.96%)

QCOM

Qualcomm

$75.66

0.23 (0.30%)

NUS

Nu Skin

$45.50

1.44 (3.27%)

SENS

Senseonics

$1.68

-0.075 (-4.29%)

CSX

CSX

$79.57

1.05 (1.34%)

IBKR

Interactive Brokers

$50.72

-0.44 (-0.86%)

INO

Inovio

$3.00

0.05 (1.69%)

TELL

Tellurian

$7.68

-0.1 (-1.29%)

WB

Weibo

$41.57

-1.47 (-3.42%)

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NVLN

Novelion Therapeutics

$0.71

-0.0054 (-0.75%)

18:46
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DLGNF

Dialog Semiconductor

$0.00

(0.00%)

18:41
07/16/19
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18:41
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Earnings
Dialog Semiconductor raises Q2 revenue view to $482M »

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BHP

BHP Group

$57.59

-0.27 (-0.47%)

18:39
07/16/19
07/16
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Hot Stocks
BHP Group reports Q4 iron ore output 63MT, down 2% from last year »

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  • 16

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DPZ

Domino's Pizza

$246.55

-23.42 (-8.68%)

18:33
07/16/19
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Hot Stocks
Domino's Pizza CEO: We are in a position of strength »

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  • 16

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UBER

Uber

$44.13

-0.38 (-0.85%)

18:18
07/16/19
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18:18
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Periodicals
Uber rolls out ride-hailing services in Hamburg, Germany, Reuters says »

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  • 08

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LFUS

Littelfuse

$168.35

-2.05 (-1.20%)

18:03
07/16/19
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Earnings
Littelfuse reports preliminary Q2 EPS $1.91, consensus $2.03 »

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  • 31

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  • 19

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S

Sprint

$7.23

0.12 (1.69%)

, SSNLF

Samsung

$0.00

(0.00%)

17:51
07/16/19
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17:51
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Periodicals
Sprint says hackers broke into user accounts via Samsung site, ZDNet says »

Sprint (S) informed…

S

Sprint

$7.23

0.12 (1.69%)

SSNLF

Samsung

$0.00

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  • 08

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SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

17:50
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Hot Stocks
Seattle Genetics up 8% to $68.20 after Q2 results »

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QCOM

Qualcomm

$75.66

0.23 (0.30%)

17:48
07/16/19
07/16
17:48
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Periodicals
DOJ requests halt of antitrust ruling against Qualcomm, Reuters reports »

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  • 31

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MFGP

Micro Focus

$20.66

-0.01 (-0.05%)

17:46
07/16/19
07/16
17:46
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17:46
Downgrade
Micro Focus rating change at Goldman Sachs »

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GLD

SPDR Gold Shares

$132.39

-1.12 (-0.84%)

17:45
07/16/19
07/16
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Hot Stocks
SPDR Gold Shares holdings fall from 800.54MT to 799.37MT »

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