Siemens AG

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  • Tue, Feb. 2, 8:02 AM
    • Siemens (OTCPK:SIEGY) is set to begin a new €3B ($3.3B) share buyback program, the second such repurchase since CEO Joe Kaeser took the helm in 2013.
    • The company plans to buy back as many as 60M shares by Nov. 15, 2018, after completing a €4B repurchase program (acquiring 4.9% of stock) in October .
    | Tue, Feb. 2, 8:02 AM
  • Fri, Jan. 29, 11:11 AM
    • Siemens (OTCPK:SIEGY -0.2%) reportedly is in talks with Spanish turbine maker Gamesa (OTCPK:GCTAF) on a potential tie-up that could create the world’s largest wind turbine manufacturer by sales.
    • It is unclear whether talks would result in a takeover bid by Siemens or another form of cooperation.
    • Any deal would have to be agreed by Spanish utility Iberdrola (OTCPK:IBDRY), Gamesa’s largest shareholder with a 20% stake.
    | Fri, Jan. 29, 11:11 AM
  • Mon, Jan. 25, 2:22 PM
    • Siemens (OTCPK:SIEGY +2.8%) raises its FY 2016 earnings forecast after the euro's decline helped it beat market expectations for FQ1 industrial profit, revenue and orders,
    • Siemens says its net profit for the period ended Dec. 31 was €1.53B, vs. €1.1B in the year-ago period and ahead of analysts’ expectations of €1.08B, on an 8% Y/Y increase in revenue to €18.89B, while new orders jumped 27% to €22.8B, boosted by an €8B power generation contract in Egypt; industrial profit rose 10% to €1.99B, beating the €1.87B consensus estimate, with profit margin rising to 10.4% from 10.2% a year earlier.
    • The company now expects EPS of €6.00-€6.40 ($6.50-$6.93), up from its previous forecast of €5.90-€6.20, for the year ending next September.
    • Siemens also confirms earlier reports that it acquired software maker CD-adapco for $970M.
    | Mon, Jan. 25, 2:22 PM
  • Mon, Jan. 25, 1:49 AM
    • Siemens (OTCPK:SIEGY) has agreed to buy CD-adapco, a privately held U.S. engineering software firm, for close to $1B in cash, Reuters reports.
    • The acquisition comes ahead of Siemens' annual shareholders meeting on Tuesday. Investors there intend to remind CEO Joe Kaeser that following several years of stagnation and restructuring, this year should be about delivering operational improvements and boosting profitability.
    | Mon, Jan. 25, 1:49 AM
  • Nov. 12, 2015, 4:35 AM
    • Siemens (OTCPK:SIEGY) reported a worse-than-expected 33% drop in net profit during the fourth-quarter, but forecast growth in the quarters ahead with plans to return more cash to shareholders.
    • Net profit dropped to €959M ($1.03B) in the three months to end-September from €1.45B a year earlier, falling short of analysts' expectations.
    • Despite the weak quarter, Siemens confirmed it would buy €3B of shares over the next three years (continuing a program launched in November 2013) and proposed a €3.50 per share dividend, up from €3.00 a year ago.
    | Nov. 12, 2015, 4:35 AM | 2 Comments
  • Oct. 20, 2015, 8:44 AM
    • Siemens (OTCPK:SIEGY) executive Dirk Hoke will take up the position, attempting to regenerate the company's second-largest division.
    • Hoke will join Airbus (OTCPK:EADSY) in January and progressively take over from Bernhard Gerwert, who is due to retire in mid-2016.
    | Oct. 20, 2015, 8:44 AM
  • Oct. 14, 2015, 5:53 PM
    • The 14 companies that issued a joint statement today endorsing an international agreement to reduce carbon emissions included leaders of some of the world’s most carbon-intensive industries: coal miners BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RIO), oil majors Shell (RDS.A, RDS.B) and BP, aluminum producer Alcoa (NYSE:AA) and cement maker LarfargeHolcim (OTCPK:HCMLF).
    • A climate deal could eventually mean new taxes and regulations on products central to the companies’ business models, but the companies say they seek clear direction from world leaders to guide long-term investments and transparency to ensure all countries apply the same rules to emissions.
    • While UN climate talks scheduled for December in Paris are not likely to result in a global price on carbon, individual countries are submitting their own plans that could lead to market opportunities for major players.
    • The statement was also joined by Alstom (OTCPK:ALSMY, OTCPK:AOMFF), Calpine (NYSE:CPN), Hewlett-Packard (NYSE:HPQ), Intel (NASDAQ:INTC), National Grid (NYSE:NGG), PG&E (NYSE:PCG), Schneider Electric (OTCPK:SBGSF) and Siemens (OTCPK:SIEGY).
    | Oct. 14, 2015, 5:53 PM | 39 Comments
  • Sep. 16, 2015, 10:54 AM
    • Siemens (OTCPK:SIEGY) says it has no plans to make further acquisitions after making two multi-billion dollar purchases in recent years, even as falling oil prices create a prime buying opportunity.
    • Lisa Davis, a member of Siemens’ managing board, says Siemens has created a strong, comprehensive portfolio with its recent acquisitions of Dresser-Rand and Rolls-Royce’s energy aeroderivative gas turbine and compressor business, and is concentrating its efforts on integrating the two and making the company stronger.
    • Unlike its competitors, Siemens has not had to lay off any workers amid the downturn in oil prices, but Davis says the company is looking for ways to pare back now that the deal with Dresser-Rand has closed.
    | Sep. 16, 2015, 10:54 AM
  • Sep. 11, 2015, 8:12 AM
    • Halliburton (NYSE:HAL) -1.2% premarket following a NY Post article that says the Justice Department wants it to find a single buyer for ~$7.5B of assets instead of selling them to different suitors in order to gain approval of the company's proposed purchase of Baker Hughes (NYSE:BHI).
    • DoJ’s single-buyer mandate leaves HAL with few options other than selling the package of assets to the likes of GE or Siemens (OTCPK:SIEGY), according to the report; it is not known if either company is willing to pay a reasonable price for the assets.
    | Sep. 11, 2015, 8:12 AM | 19 Comments
  • Aug. 27, 2015, 10:21 AM
    • Siemens (OTCPK:SIEGY -0.7%) has been awarded a $156M contract by the MTA to install Communications-Based Train Control on the Queens Boulevard Line, one of the busiest subway lines on the NYC Transit system.
    • CBTC technology reduces the amount of wayside equipment, decreasing maintenance costs and service disruptions.
    | Aug. 27, 2015, 10:21 AM
  • Aug. 26, 2015, 12:59 PM
    • Siemens (OTCPK:SIEGY +0.5%) is awarded a contract to supply an initial 10 compressor trains for the Magnolia LNG project being developed in Louisiana; no value was disclosed for the contract.
    • Siemens will provide eight refrigeration compressors and two feed gas booster compressors for the initial two liquefied natural gas trains to be installed at the 8M metric tons/year facility under the $2.2B project being developed by LNG Ltd.; two more LNG trains will be installed later to bring the plant to full capacity.
    • Siemens also reaches a supplier alliance agreement with LNG Ltd. for process compression equipment and drivers for future projects.
    | Aug. 26, 2015, 12:59 PM
  • Jul. 30, 2015, 12:58 PM
    • Siemens (OTCPK:SIEGY +2.8%) is higher after reporting a slight decline in FQ3 net profit to €1.36B ($1.49B) from €1.37B in the year-ago quarter, but the result is clearly better than the analyst consensus forecast of €1.03B.
    • Siemens also is sticking to its full-year outlook, saying it expects a strong FQ4 despite a softening market outlook.
    • FQ3 revenues gained 8% to €18.84B on strong growth in the company’s health care, energy management, digital factory and building technologies units; new orders rose 4%, helped by a €1.6B long-term train maintenance order in Russia at Siemens Mobility.
    • FQ3 industrial profit margin of 9.5% was down from 10.1% a year ago, as profitability in the health care and energy management divisions slightly offset profit declines at the power and gas business, but analysts had expected a profit margin of 9.2%.
    • Profit at the power and gas unit sank 47% to €289M, partly hurt by €106M in charges connected with one project’s higher material costs and customer delays, as well as lower margins in the gas turbine business and higher selling and R&D expenses.
    | Jul. 30, 2015, 12:58 PM
  • Jul. 29, 2015, 2:19 PM
    • Bombardier (OTCQX:BDRBF +7.6%) says it is sticking with a tentative plan for an IPO of its rail business in Q4, and refutes an earlier report of merger talks with Siemens (OTCPK:SIEGY +0.2%) over the unit.
    • An IPO or sale of the rail unit would help Bombardier pare debt that ballooned to more than US$9B during development of the CSeries jet, which has been delayed by more than two years and is ~US$2B over budget.
    | Jul. 29, 2015, 2:19 PM
  • Jul. 29, 2015, 6:15 AM
    • Bombardier ([[BDRAF, OTCQX:BDRBF) may combine its train business with Siemens' (OTCPK:SIEGY) rail unit, sources told WSJ, stating that the Canada-based company is simultaneously preparing to float a minority stake of its transportation unit.
    • The news comes some months after Siemens downplayed the idea that it could combine its rail assets, which include trains, trams and signaling technology, with those of France's Alstom (OTCPK:ALSMY).
    | Jul. 29, 2015, 6:15 AM | 2 Comments
  • Jul. 21, 2015, 8:32 AM
    • Mexican state oil company Pemex has reached a $295M settlement with a group including Siemens (OTCPK:SIEGY) in a 14-year dispute over a refinery project, Reuters reports.
    • The dispute involved a Mexican joint venture between Siemens and South Korea's SK Engineering which was created to bid for the reconfiguration of the Cadereyta refinery in the Nuevo Leon state; Pemex was at odds with the venture over allegations of graft and cost overruns relating to the project.
    • Siemens reportedly had sued for $690M.
    | Jul. 21, 2015, 8:32 AM
  • Jul. 6, 2015, 9:58 AM
    • Siemens (OTCPK:SIEGY -2.8%) needs to secure more service contracts in the fourth quarter to reach the full-year profitability goal for its industrial business, a source told Bloomberg.
    • Currency effects and weak global growth have made it harder to reach the lower end of the unit's 10%-11% profitability target range.
    | Jul. 6, 2015, 9:58 AM
Company Description
Siemens AG is engaged in electronics and electrical engineering. The Company operates in sectors such as Industry, Energy and Healthcare.
Sector: Technology
Country: Germany