|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||861.55 - 891.90|
|52 Week Range||850.25 - 1,336.00|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||27.56|
|Earnings Date||Aug 2, 2017 - Aug 7, 2017|
|Forward Dividend & Yield||7.00 (0.75%)|
|1y Target Est||1,131.90|
Siemens (SIEGn.DE) boss Joe Kaeser came under pressure from senior German politicians on Sunday to pull out of an investment conference in Saudi Arabia next week following Saudi journalist Jamal Khashoggi's death. Many business executives including the heads of Deutsche Bank (DBKGn.DE), Uber Technologies and Siemens rival ABB (ABBN.S) have dropped out of Riyadh's Future Investment Initiative conference amid outrage about Khashoggi's fate.
Siemens may have to share a multi-billion dollar deal with U.S. rival General Electric to improve Iraq's energy supply system following an intervention by President Donald Trump's administration, The Financial Times reported on Wednesday. Although no decision has been made, Siemens had been the favourite to win the contract to supply 11 gigawatts of power generation equipment to Iraq in a deal reported to be worth around $15 billion. Siemens has not given up hope of gaining a slice of the contract.
MADRID/MUNICH (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) announced a reshuffle of its top management on Tuesday, part of a bid to advance an ambitious cost-saving plan after a year-long board battle over issues ranging from suppliers to leadership. David Mesonero, currently managing director of corporate development, strategy and integration, will take over as chief financial officer, the company said, while current CFO Miguel Angel Lopez Borrego becomes non-executive chairman. The company's main shareholders, Siemens (SIEGn.DE) and Iberdrola (IBE.MC), agreed the changes on Tuesday.
Siemens Gamesa's (SGREN.MC) top shareholders have agreed to name a new chief financial officer at the world's largest wind turbine maker in a bid to end a one-year board battle, two sources with knowledge of the matter said. Siemens (SIEGn.DE), which owns 59 percent of the firm, and Iberdrola (IBE.MC), which holds a 8 percent stake, have had a difficult relationship ever since they merged Gamesa and Siemens Wind Power in April 2017, disagreeing on everything from how the business should be run to board appointments.
German engineering group Siemens on Monday said it would cut around 2,900 jobs in Germany as part of a restructuring plan to achieve 500 million euros (449.23 million pounds) in cost savings. Siemens said the measures were designed to boost the competitiveness of its Power and Gas division and the Process Industries and Drives division. Against the backdrop of this structural change, the agreement we’ve reached is critical to improving our competitiveness,” Lisa Davis, member of the Managing Board of Siemens AG said in the company's statement.
Siemens (SIEGn.DE) said its boss Joe Kaeser met Iraq's prime minister on Sunday to discuss a proposal by the German company to expand the Middle East nation's power production. The German engineering group said it was proposing a deal to add 11 gigawatt (GW) of capacity over four years, saying this would boost the country's capacity by nearly 50 percent. Iraq has a wide gap between electricity consumption and supply.
Siemens (SIEGn.DE) and Alstom (ALSO.PA) on Thursday said they were confident their rail merger would still go ahead and be completed on time despite objections raised by Australia's competition watchdog. The Australian Competition and Consumer Commission (ACCC) said on Wednesday it was concerned the mega merger could lead to higher prices by lowering competition for heavy rail signalling projects in the country. Siemens and Alstom's plan to create a Franco-German rail champion has also raised concerns in Europe, where the European Union's anti-trust regulator has opened a full-scale investigation.
MUNICH/BERLIN (Reuters) - German engineering giant Siemens said a report by monthly Manager Magazin that it could cut 20,000 jobs as part of its Vision 2020+ strategy was "completely unfounded". No statements of this kind were made," Siemens said on Friday, adding that details of the new strategy were still being worked out. Manager Magazin said on Thursday Siemens aimed to reap cost savings from slimming down administrative costs in personnel, legal and finance, and at its shared services division, citing comments that Chief Executive Joe Kaeser made to some investors at a roadshow at the beginning of August.
Norway's Statnett [STASF.UL] has lifted a suspension on Siemens as its supplier (SIEGn.DE) after a dispute over underpayment of workers at a Siemens subcontractor has been solved, the power grid operator said on Tuesday. Statnett suspended Siemens, one of its major suppliers, from bidding in its tenders last January over problems with payments to workers at Siemens Slovakian subcontractor Hesia. "The workers have now been paid and Siemens has established better systems for follow-up of subcontractors.
Novartis (NOVN.S) has recruited a new chief ethics officer from Siemens (SIEGn.DE) after costly bribery scandals and a disputed $1.2 million (938,673.3 pounds) contract with President Donald Trump's former lawyer that the Swiss drugmaker now calls a mistake. Novartis said on Tuesday it had hired Klaus Moosmayer, 49, from Siemens, where he spent more than a decade helping oversee the German engineering company's efforts to build its compliance system after several of its own bribery scandals. Novartis Chief Executive Vas Narasimhan, promoted on Feb. 1 to lead the Basel-based company, has promised to boost its reputation following settlements or fines in corruption cases in China, South Korea and the United States.
German trains-to-turbines group Siemens launched its biggest strategy overhaul in four years, aimed at making it more nimble and profitable in the digital industrial age beyond the reign of current Chief Executive Joe Kaeser. Siemens reported industrial profit slightly ahead of expectations in the three months to the end of June, helped by another strong performance by its Digital Factory industrial automation unit that compensated for a slump in power and gas. Siemens shares fell 4.8 percent to the bottom of Germany's blue-chip DAX as analysts asked whether the measures, designed to lift profitability by 2 percentage points from the company's current 11-12 percent target, were ambitious enough.
Siemens (SIEGn.DE) on Thursday said it was making its Chief Technology Officer Roland Busch its Chief Operating Officer, a signal he could eventually replace Chief Executive Joe Kaeser. Siemens also said it wanted to extend the contract of Lisa Davis, the boss of its struggling power and gas division, which runs out at the end of July 2019. The supervisory board will discuss the personnel matters relating to Davis at one of its regular meetings in the late autumn, Siemens said.
Siemens (SIEGn.DE) unveiled its new Vision 2020+ strategy on Wednesday - a move designed to boost the German engineering group's profitability in an era where sprawling conglomerates are increasingly unloved by investors. The overhaul - which sees its five industrial divisions combined into three operating companies - is designed to simplify the trains to turbine company and make its structure leaner. Under the changes, Siemens, which is due to report its latest earnings on Thursday, said it expects to increase the annual growth rate and profit margin of its industrial business by two percent over the medium term - defined as the next three to five years.
German engineering group Siemens (SIEGn.DE) is redoubling its efforts in an area where it has traditionally lagged: managing the processing of materials into medicines, chemicals or foodstuffs. Siemens excels at helping makers of cars, planes and trains make their production and assembly smarter by using its software to create distinct items and components - so-called discrete manufacturing. Now Siemens is investing in the technology used to control mixing, heating, and pressurising ingredients in the process industry - enabling the small-batch and hybrid production of products like drugs, where personalised and niche products are becoming more common.
COPENHAGEN/MADRID (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) warned on Friday that trade tensions would drive up costs, after reporting a fall in quarterly sales and profits due to lower turbine sales and pricing. The U.S.-Chinese trade row adds to challenges facing wind turbine makers such as Siemens Gamesa, Vestas (VWS.CO) and General Electric (GE.N), which already face pressure from tighter markets and the phasing out of government subsidies.
Siemens and Alstom's plan to create a Franco-German rail champion could reduce competition and lead to higher fares for travellers, EU antitrust regulators said on Friday as they opened a full-scale investigation into the deal. German industrial group Siemens and French rival Alstom announced the planned rail merger in September last year, an industrial boost for French President Emmanuel Macron which, however, has triggered criticism from opposition politicians. Paris said the tie-up would protect jobs but critics fear French loss of control of the iconic TGV high-speed train.
BRUSSELS/FRANKFURT (Reuters) - Siemens and Alstom are set to face a full-scale EU antitrust investigation this week after declining to provide concessions to allay regulatory concerns about their plan to combine their rail operations, two people familiar with the matter said. German industrial group Siemens and French rival Alstom want to create a Franco-German rail champion to compete more effectively with bigger rival CRRC and Canada's Bombardier Transportation. The companies had until July 6 to offer concessions to the European Commission but did not do so.
Siemens has agreed with online giant Alibaba to use the Chinese company's cloud infrastructure to roll out its digital operating system MindSphere, the German engineering group said on Monday. Siemens and Alibaba Cloud, the cloud computing arm of Alibaba, have signed a memorandum of understanding to launch so-called Internet of Things (IoT) products that connect hundreds of different manufacturing devices in China. The deal will help upgrade China's industry, Siemens said in a statement.
The British government and the European Union must avoid a no-deal Brexit "at all costs" as this would clog up food supplies, raise prices and throw retailers out of business, the UK retail industry's lobby group said on Thursday. The warning from the British Retail Consortium (BRC) came a day before British Prime Minister Theresa May hosts ministers at her country residence to try to reach agreement on how to push on with the all-but-stalled Brexit talks.
Britain's biggest carmaker Jaguar Land Rover said on Wednesday a so-called "hard Brexit" would cost it 1.2 billion pounds ($1.59 billion) a year, curtailing its future operations in the United Kingdom. "We urgently need greater certainty to continue to invest heavily in the UK and safeguard our suppliers, customers and 40,000 British-based employees," JLR's Chief Executive Ralf Speth said in a statement. Speth's comments come ahead of a meeting this Friday between Prime Minister Theresa May and her cabinet ministers to decide on strategy for Britain to negotiate its way out of the European Union, ending a 40-year trading relationship.
German engineering group Siemens (SIEGn.DE) plans to trim the number of its industrial divisions to try to increase profitability, a person familiar with the matter said. The Munich-based conglomerate will reduce the units in its core industrial operations to three from five and its supervisory board has already discussed the changes, the source told Reuters on Thursday. The changes will take effect on Oct. 1, the start of Siemens' new financial year, one of the sources said.
BERLIN (Reuters) - Siemens (SIEGn.DE) Chief Executive Joe Kaeser will present plans in August to reduce the number of industrial divisions at the engineering group to boost efficiency, Germany's Manager ...
Siemens Chief Executive Joe Kaeser dismissed a report the German engineering company was considering selling off its struggling large turbines business as "media speculation" on Tuesday. Kaeser said Siemens planned to improve the unit's performance but declined to say directly if he wanted to keep it. "This is media speculation and in our view there is no need to comment on media speculation," Kaeser told Reuters on the sidelines of an event in Zurich.
EU regulators reviewing a plan by Siemens (SIEGn.DE) and Alstom (ALSO.PA) to merge their rail operations will take into account competitive pressure from Chinese rival CRRC, Europe's antitrust chief said on Monday. Industrial group Siemens and Alstom are seeking to create a Franco-German champion in the rail industry, better able to compete with bigger rival CRRC and Bombadier Transportation.
A division of Germany's Siemens (SIEGn.DE) has been awarded a contract worth about 1.5 billion pounds to design and build 94 new trains for the Piccadilly Line on London's metropolitan train network, known as the Tube. Transport for London (TfL), the public body in charge of the Tube, said the award of the contract would allow Siemens Mobility Limited to push ahead with its plan to build a new factory in Goole, east Yorkshire, in northern England. "The Siemens Mobility Limited factory would employ up to 700 people in skilled engineering and manufacturing roles, plus up to an additional 250 people during the construction phase of the factory," TfL said in a statement.