|Bid||1,019.95 x 0|
|Ask||0.00 x 0|
|Day's Range||1,013.70 - 1,032.00|
|52 Week Range||931.00 - 1,453.50|
|PE Ratio (TTM)||31.95|
|Earnings Date||Aug 2, 2017 - Aug 7, 2017|
|Forward Dividend & Yield||7.00 (0.72%)|
|1y Target Est||1,151.10|
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.
(Reuters) - Siemens AG is considering strategic options including a potential sale of its struggling business that makes large gas turbines for power plants, Bloomberg https://bloom.bg/2LOJJuf reported ...
Experts from Siemens are helping Hungarian authorities with their investigation after an experimental aircraft powered by one of the German company's electric motors crashed, killing its pilot and passenger. The single-engined Magnus eFusion aircraft crashed shortly after take-off at an airfield near Budapest on May 31, Siemens said on Wednesday, confirming reports that had appeared in other media. "We can confirm that an accident happened to an experimental airplane featuring our electric propulsion unit," Siemens said in a statement.
ZURICH (Reuters) - Siemens has signed more than ten cooperation agreements with Chinese companies as it seeks to benefit from deepening involvement with China's "Belt and Road" infrastructure initiative, the German engineering group said on Wednesday. Siemens said the cooperation covers power generation, energy management, building technology and intelligent manufacturing and includes companies such as China National Chemical Engineering Group Corp, China Railway Construction Corp(International) Ltd and China Civil Engineering Construction Corp. ...
Russian power equipment producer, Power Machines, which was hit by the U.S. sanctions in 2018, will most probably withdraw from its Russian joint venture (JV) with Germany's Siemens (SIEGn.DE), its owner Alexei Mordashov said. Washington blacklisted Power Machines when it updated the list of companies and officials related to supplies of German turbines to Crimea, the peninsula annexed by Moscow in 2014. Power Machines is a Russian partner in Siemens Gas Turbine Technologies LLC, a St Petersburg-based joint venture in which Siemens has a majority stake.
Siemens (SIEGn.DE) has become the latest company to contribute to the Northvolt project to build Europe's largest lithium-ion factory in northern Sweden. The German engineering company has offered its digital enterprise technology to help build the factory, which will become Siemens' preferred supplier for lithium ion batteries when production starts in 2020. Siemens said it will invest 10 million euros ($11.73 million) into the project which already received support from its Swiss rival ABB (ABBN.S) in September last year.
Germany's former foreign minister, Sigmar Gabriel, was nominated on Tuesday as a director of Siemens Alstom , as the Franco-German rail venture finalised its board lineup. The makers of TGV and ICE high-speed trains agreed last September to merge their rail operations to create a European champion capable of fending off the challenge of China's state-owned CRRC Corp Ltd . The two sides resolved delicate issues of governance by handing ownership and board control to Siemens, the German conglomerate, while naming Alstom boss Henri Poupart-Lafarge to run the venture.
Siemens raised its full year profit guidance on Wednesday, sending its shares higher after a strong result from its factory automation business countered the downturn at its Power and Gas operations. The German engineering company beat net profit forecasts during its second quarter after logging a one-off gain of 900 million euros ($1.07 billion) from transferring its stake in IT services company Atos SE to its pension fund. "Most of our business, primarily our digital offerings, showed impressive performance and operationally more than offset structural challenges in fossil power generation," Siemens' Chief Financial Officer Ralf Thomas told reporters.
Siemens has reached an agreement in principle with trade unions about its plans to cut jobs and restructure its struggling Power and Gas (PG) and Process Industries and Drives (PD) businesses in Germany, it said on Tuesday. The German industrial company is targeting savings of several hundred million euros in the programme designed to tackle plummeting demand caused by a switch away from fossil fuel generated electricity to renewable energy sources. The downturn has dragged down Siemens' results in recent quarters, with demand for large gas turbines not expected to recover in the near future, according to analysts.
Siemens (SIEGn.DE) said on Monday weakness in the power generation market is forcing it to temporarily shut down its Power & Gas (PG) sites around the world. Large gas turbines are increasingly unloved as the world shifts to renewable energy, which is weighing on Siemens' earnings and prompting the group to restructure the PG business. In November, Siemens said it would cut 6,900 jobs, mainly at the PG division, which once thrived on supplying turbines for electricity generation.