Siemens AG(SIEGY)- OTCPK - Current
  • Fri, Sep. 23, 7:47 AM
    • Siemens (OTCPK:SIEGY) and Siemens Medical Solutions have agreed to pay a $175K fine for failing to disclose corporate felony convictions to the Federal Communications Commission.
    • Under FCC rules, wireless license holders are required to disclose any felony convictions in their license applications.
    | Fri, Sep. 23, 7:47 AM | 1 Comment
  • Mon, Sep. 19, 5:57 PM
    • General Electric (NYSE:GE) expects to invest $10B in Argentina over the next decade, Vice Chairman John Rice tells an event held in New York by the Financial Times.
    • GE says its investment will help build seven power plants that will add ~1 GW to Argentina's electric system; GE says it already has invested $1.2B alongside local partners and customers over the past four months including $900M to build thermal power plants and a $280M loan to the state-run airline to finance airplane purchases.
    • Also, Siemens (OTCPK:SIEGY) reiterates its previously announced plan to help create investments and provide financing for $5.6B in infrastructure projects, including gas-fired power plants, in Argentina.
    | Mon, Sep. 19, 5:57 PM | 18 Comments
  • Thu, Sep. 15, 12:58 PM
    • Siemens (OTCPK:SIEGY +2.9%) shoots higher after CEO Joe Kaeser tells Bloomberg that the company may beat its earnings forecast for the fiscal year ending this month, while warning that political concerns could dampen the long-term outlook.
    • Siemens already has raised its financial target twice this year, most recently seeing EPS of €6.50-€6.70; analysts expect the final result to come in at the top end of the range.
    • Company guidance for the current financial year also includes “moderate” revenue growth, net of currency effects, and orders accelerating with a book-to-bill ratio “clearly” above 1, the CEO says.
    | Thu, Sep. 15, 12:58 PM
  • Thu, Sep. 15, 3:22 AM
    • Gamesa (OTCPK:GCTAY) has acquired 50% of offshore wind turbine Adwen from Areva (OTCPK:ARVCY) for €60M after a merger between the Spanish wind-farm manufacturer and Siemens (OTCPK:SIEGY).
    • When the two agreed to their merger in June, they specified that Areva had three months to decide whether it wanted to buy out Gamesa's 50% Adwen stake, or sell it to them.
    • In the mean time GE made an offer for some of the assets, but Areva rejected the advance last month.
    | Thu, Sep. 15, 3:22 AM
  • Wed, Sep. 14, 3:21 PM
    • Siemens (OTCPK:SIEGY +0.4%) commits to a €5B ($5.6B) infrastructure project in Argentina, CEO Joe Kaeser says in Buenos Aires, where Pres. Macri is hosting a forum to promote the government’s market-friendly policies.
    • Kaeser says the project will include energy and renewable energy projects, rail, bus and energy-saving technology over a period of 4-5 years.
    • The news gives Macri evidence to show voters his reforms are translating into much-needed investment; for Siemens, it offers a chance to turn over a new leaf in Argentina after the former CFO of the company’s Argentine unit pleaded guilty last year to taking part in a scheme to bribe government officials.
    | Wed, Sep. 14, 3:21 PM | 1 Comment
  • Mon, Sep. 12, 12:58 PM
    • Siemens (OTCPK:SIEGY -0.2%) is considering a sale of its remaining 17% stake in lighting business Osram Licht, valued at €777M ($872M), to potential buyers including Chinese investor GO Scale Capital, Bloomberg reports.
    • The stake reportedly also has drawn interest from other Chinese bidders as well as P-E firms; a deal could be announced as soon as this month, according to the report.
    • Siemens’ exit from Osram would come after CEO Joe Kaeser publicly questioned his counterpart’s decision to invest heavily in a manufacturing facility in Malaysia, and complained that Osram CEO Olaf Berlien has destroyed shareholder value with the strategy.
    | Mon, Sep. 12, 12:58 PM
  • Tue, Aug. 30, 2:13 PM
    • Siemens (OTCPK:SIEGY +0.3%) and Gamesa (OTCPK:GCTAF) have rejected a non-binding offer from General Electric (GE +0.3%) for assets belonging to the Adwen wind power joint venture between Gamesa and Areva (OTCPK:ARVCF), Reuters reports.
    • Gamesa is merging with Siemens' wind power division to create the world's biggest builder of wind farms in a €10B ($11 billion) deal, but the Adwen venture has been a sticking point, as Siemens does not need the technology from Areva because it has developed its own offshore wind turbines.
    • If Areva does not find a buyer before a mid-September deadline set when Siemens and Gamesa announced their merger in June, the most likely outcome would be for Gamesa to exercise its purchase option and take over Areva's 50% stake, according to the report.
    | Tue, Aug. 30, 2:13 PM
  • Fri, Aug. 26, 11:01 AM
    • The FDA revises its guidance on screening whole blood and blood components for the Zika virus. It now recommends all U.S. states and territories implement testing to ensure the safety of the blood supply. Collection/processing centers can use either an investigational test authorized by the FDA under an IND or a licensed test when available.
    • In February, the agency recommended the safety measure only in areas with active Zika virus transmission. All such areas (i.e., FL and Puerto Rico) are now in compliance with the guidance.
    | Fri, Aug. 26, 11:01 AM | 1 Comment
  • Mon, Aug. 22, 12:58 PM
    • General Electric (GE +0.3%) plans to submit an offer as soon as this Thursday to buy French wind power company Adwen, Reuters reports, citing French magazine La Lettre de l'Expansion.
    • Siemens (OTCPK:SIEGY) has agreed to take over Gamesa's (OTCPK:GCTAF) 50% stake in Adwen as part of its €1B ($1.1B) deal to buy a majority stake in Gamesa, and has made an offer for Areva's (OTCPK:ARVCF) 50% stake in Adwen, but Areva has until mid-September to look for an alternative buyer under the terms of an agreement in connection with the Siemens buyout.
    • The report says GE is preparing to submit its bid on Aug. 24 but offers no further details.
    | Mon, Aug. 22, 12:58 PM | 8 Comments
  • Fri, Aug. 5, 5:58 PM
    • Builders of two power plants in Russian-occupied Crimea in the Ukraine have finalized plans to install turbines made by a Siemens (OTCPK:SIEGY) joint venture, Reuters reports.
    • Siemens denies that it intends to send the turbines to Crimea, saying that its JV is making turbines for a separate plant on Russia’s Taman peninsula, which is separated from Crimea by a strait, not for plants inside in Crimea itself; however, Reuters says three sources all say two power plants in Crimea are being built specifically to house Siemens turbines.
    • If the turbines end up in Crimea, it could test the limits of what is allowable under sanctions imposed by the European Union after Russia annexed the territory from Ukraine in 2014; legal experts say there are no court precedents to say whether Siemens could be held responsible if a third party brought the turbines to Crimea.
    | Fri, Aug. 5, 5:58 PM | 13 Comments
  • Thu, Aug. 4, 3:26 PM
    • Siemens (OTCPK:SIEGY +3.7%) managed to achieve in its FQ3 what many of its competitors have struggled to do - make money in the energy business - prompting the company to raise its guidance from EPS from net income for FY 2016 to €6.5-€6.7 from its previous outlook of €6.0-€6.4.
    • Siemens' FQ3 net profit was €1.33B ($1.48B), beating the €1.2B analyst consensus estimate, and revenue rose 5% to €19.8B, while new orders rose by 6% to €1.06B; however, profit at the power and gas division surged 69% to €480M, while wind profit more than doubled to €143M.
    • Growth in power and gas - held back in recent quarters by weak global oil prices - was lifted by large orders, including those related to a combined-cycle power plant in the U.S. and the expansion of thermal plants in Bolivia, as well as execution of the company’s backlog, including an €8B power generation deal with Egypt.
    • The “excellent” results are the result of Siemens “reducing costs, delivering large projects on time and on budget and winning share from competitors,” Jefferies analysts say.
    | Thu, Aug. 4, 3:26 PM | 2 Comments
  • Thu, Aug. 4, 4:50 AM
    | Thu, Aug. 4, 4:50 AM | 1 Comment
  • Thu, Aug. 4, 3:29 AM
    • Nokia (NYSE:NOK) missed expectations with a sharp drop in profits, prompting the company to up its cost cuts as it cautioned no near-term improvement is likely.
    • Siemens (OTCPK:SIEGY) raised its full year guidance after engineering a beat in FQ3, despite chief executive Joe Kaeser warning of challenging conditions.
    • Randgold Resources (NASDAQ:GOLD) reported flat second quarter profit, as lower output and higher costs offset the benefit of a lift in gold prices.
    | Thu, Aug. 4, 3:29 AM
  • Mon, Jul. 11, 4:43 PM
    • Siemens (OTCPK:SIEGY) is backing away from its earlier warnings that leaving the European Union could make the U.K. a worse place to conduct business and affect the company’s future U.K. investment plans, Financial Times reports.
    • While eager to see some sort of framework plan showing how the U.K. would approach its departure from the E.U., CEO Joe Kaeser says the U.K. remains a re-industrialisation “showcase,” and regardless of the Brexit vote, Siemens would build a “huge manufacturing place” for local transport systems “in a heartbeat” if there were enough domestic orders.
    • After the vote to leave the E.U., Siemens warned long-term plans to export wind turbine blades from its £160M manufacturing plant in Hull likely would be put on hold, but Kaeser brought his top managers to the U.K. this week to help send staff and customers the message that “we’re here for the long term.”
    | Mon, Jul. 11, 4:43 PM
  • Wed, Jun. 29, 2:24 PM
    • Siemens (OTCPK:SIEGY +1.1%) raises its synergy target for the integration of Dresser-Rand and Rolls Royce's energy business to ~€365M ($406M) by FY 2019, much larger than the ~€200M originally expected, despite the material downturn in the sector.
    • Siemens managing board member Lisa Davis tells the Energy and Oil & Gas Capital Market Day in Houston that Rolls-Royce's former energy business would contribute synergies of €115M in FY 2019, up from an expected €50M, and annual synergies from Dresser-Rand likely would hit €250M by FY 2019, ~€100M more than planned.
    • Siemens says it sees synergy potential in cross-selling and services, consolidating research and development, and procurement and optimizing its footprint.
    | Wed, Jun. 29, 2:24 PM
  • Wed, Jun. 29, 12:14 PM
    • Siemens (OTCPK:SIEGY +1.3%) says the U.K.'s decision to leave the EU is causing it to put on hold its plans to export wind turbine blades from a new manufacturing hub in northeast England.
    • While Siemens' U.K. CEO tells the Guardian that the Hull factory remains on track to open in the coming months, with the current order pipeline for U.K. projects, the company is halting longer-term export plans until the U.K. government provides more clarity on how it will trade with the rest of the EU.
    • It is unclear how much money the EU contributed toward development of the Hull project, but it has put up £525M for the Beatrice wind farm project in Scotland, whose developer will be a major buyer of the Hull factory’s turbine blades, the Guardian says.
    | Wed, Jun. 29, 12:14 PM | 1 Comment