–
Feb 26 (Reuters) – This is followed by a Reuters look at important developments in the corporate world beyond the top topics of the day:
BORUSSIA DORTMUND – Berlin: The manager of the Bundesliga soccer team does not see any rapid recovery from the economic consequences of the coronavirus pandemic. “I expect that it will take at least five years to achieve the status quo before the corona crisis in terms of liabilities,” said Hans-Joachim Watzke to the “Handelsblatt” according to the preliminary report. The association will probably close the current financial year with a significant loss. The main reason is the loss of sales due to the many home games without an audience.
AT&T (NYSE 🙂 TN – New York: The US media and telecommunications group plans to sell a third of its stake in the satellite TV unit DirecTV to the financial investor TPG Capital. AT&T bought the division six years ago for $ 68 billion. According to the new plans, it would now have a total value of 16.3 billion. AT&T wants to concentrate more on core areas such as the expansion of 5G, fiber optics and the streaming service HBOMax. New DirecTV, which includes the video services DirecTV, AT&T TV and U-verse, has lost many customers over the years to streaming platforms such as Netflix and Amazon.
BEYOND MEAT – Chicago: The vegan burger provider has signed multi-year supply contracts with McDonald’s MCD.N and Yum Brands (NYSE 🙂 YUM.N. However, sales in the past quarter ended December 31 with $ 101.9 million – an increase of 3.5 percent – below analysts’ expectations of $ 104.8 million. At $ 25.1 million, the loss was also greater than expected: without special items, it was 34 cents per share, while experts had expected a minus of 13 cents according to refinitive data. The Beyond share initially rose by 18 percent after the trading hours, only to fall back to a plus of around one percent later.
(Compiled by the Berlin and Frankfurt editorial offices. If you have any questions, please contact the editorial management on +49 30 2201 33711 (for politics and business) and +49 30 2201 33702 (for companies and markets)
–
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
–
