Philips Rises, Revenue Beat
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 24 April 2023
⏱️ 9 minutes
🧾️ Download transcript
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Show links:
Philips: A Massive Upside, I Say 'Buy'
Johnson & Johnson to launch IPO roadshow for consumer health unit – WSJ
Bed Bath & Beyond files for Chapter 11 bankruptcy (update)
Catalyst watch: Earnings blitz, Mobileye lockup expiration and the new one-day VIX debut
NBCUniversal CEO Jeff Shell leaves company after 'inappropriate relationship'
Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning, today is Monday, April 24th, and I'm your host Julie Morgan. |
| 0:12.0 | The Philip stock is on the rise pre-market. The stock is up 11% as Q1 profits beat estimates. |
| 0:19.8 | Credit Suisse reported earnings pre-market as well. Outflows at Credit Suisse reported earnings pre-market as well. |
| 0:22.9 | Outflows at Credit Suisse top 68 billion dollars in Q1 and are still going. |
| 0:29.2 | Johnson and Johnson is expected to launch its IPO Roadshow for its consumer health care unit. |
| 0:34.7 | Ken View is expected to be listed under the ticker symbol KVUE. |
| 0:52.1 | Our top story, Phillips is up 11% pre-market after Q1 results beat estimates as supply chain issues improved and the company's restructuring actions started to take effect. Adjusted income from continuing operations attributable to shareholders rose |
| 0:57.1 | 46.67% year over year. |
| 1:00.4 | Group sales increased 6.36% year over year. |
| 1:04.4 | The company said comparable sales grew by 6% driven by continued supply chain improvements. |
| 1:10.8 | Philip CEO Roy Jacobs said the company has reduced the workforce by approximately 5,400 |
| 1:17.0 | positions out of the planned reduction of 10,000 roles globally. |
| 1:21.8 | The company also reported that it set aside 575 million euros for litigation |
| 1:27.2 | related to the Respironics recall. The most recent article on Seeking Alpha |
| 1:32.0 | about Phillips is by the Wolf Report. |
| 1:34.8 | The Wolf Report is an investing group's leader for I reet on Alpha. |
| 1:39.4 | The article is entitled, Phillips, a massive upside. I buy in the article they say the company is a buy because |
| 1:46.8 | it is overall qualitative it's fundamentally safe and well run and it's currently cheap I'll leave a link to that article in show notes. |
| 1:56.0 | Credit Suisse has revealed more details about what happened to the Troubled Bank |
| 2:01.0 | before regulators worked out a deal for the institution to be swallowed by Swiss rival |
| 2:05.6 | UBS. Fears of a global banking crisis saw the lender suffer 68.6 billion dollars of asset outflows in the first quarter, |
... |
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