Streetbeat News

AMKBY

A.P. Moller - Maersk AS

https://www.maersk.com/

CEO

Soren Skou

Open

8.29

Mkt cap

25B

Volume

23K

High

8.33

P/E Ratio

7.16

52-wk high

10.53

Low

8.26

Div yield

0.08

52-wk low

6.26

Moller Maersk (OTC:AMKBY) shares fell 15.5% after warning of potential impacts on its 2024 earnings due to the Red Sea crisis, leading to immediate capacity constraints and a temporary increase in rates. The crisis has caused the company to suspend its share buyback program and revise its full-year earnings forecast for 2024 to between $1 billion and $6 billion, down from $9.6 billion in 2023. The crisis has also led to increased costs and delays for shipping firms as they divert routes, potentially affecting global commodity markets and inflation.

Portfolio Pulse from Neil Dennis

February 08, 2024 | 5:52 pm

A.P. Moller - Maersk has announced that there is high uncertainty regarding the duration and degree of disruption in the Red Sea, indicating potential impacts on global shipping routes.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:07 pm

A.P. Moller - Maersk announced its expectation for container volume growth to be between 2.5% and 4.5%, which aligns with market predictions.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:03 pm

A.P. Moller - Maersk has announced the termination of the fifth phase of its share buyback program. This decision could impact investor sentiment and the company's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:02 pm

A. P. Moller Maersk (OTC:AMKBY) reported a Q4 2023 GAAP EPS loss of $(0.14) with sales of $11.74B, surpassing the $11.46B estimate. This represents a 34.11% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:53 pm

Barron's weekend stock picks include Abercrombie & Fitch, Apple, Nvidia, and IBM. Abercrombie & Fitch's future growth is uncertain despite a recent spike. Apple faces a 5.9% YTD decline amid antitrust concerns. Shipping stocks like Maersk may benefit from Middle East conflict and Panama Canal drought. Nvidia is projected to generate $100 billion in free cash flow from AI chip sales. IBM's AI ambitions are met with skepticism from analysts.

Portfolio Pulse from Justin Chan

January 06, 2024 | 2:12 pm

WTI crude oil prices rose to over $73 per barrel, a 2.6% increase, due to escalating tensions in the Red Sea between the US and Iran. US Navy helicopters destroyed three Houthi boats, and Iran deployed a destroyer in response. The Red Sea is a crucial trade route, with 12% of global trade passing through it. Shipping companies like AP Moller-Maersk A/S have suspended Red Sea transit, and the SonicShares Global Shipping ETF (BOAT) has seen an 11% increase in the past three weeks.

Portfolio Pulse from Piero Cingari

January 02, 2024 | 2:29 pm

Houthi rebel attacks in the Red Sea have led to approximately half of the container-ship fleet rerouting to avoid the area, impacting 18% of global shipping capacity. This has resulted in increased travel time and operational costs, potentially inflating consumer prices. U.S.-led efforts are underway to enhance security. Kuehne & Nagel International AG's stock (KHNGY) has risen 20%, while A.P. Moeller-Maersk (AMKBY), Hapag-Lloyd (HLAGF), Matson Inc. (MATX), Global Ship Lease Inc. (GSL), and the SonicShares Global Shipping ETF (BOAT) have also seen significant share price increases.

Portfolio Pulse from Piero Cingari

December 28, 2023 | 6:07 pm

A. P. Moller Maersk A/S (OTC:AMKBY) signed an MoU with Yokohama and Mitsubishi Gas Chemical to develop green methanol bunkering infrastructure. Maersk's new methanol-powered vessels will be delivered from 2024. Additionally, Maersk will resume sending vessels through the Red Sea, under the protection of Operation Prosperity Guardian, instead of rerouting around southern Africa. This change is expected to improve global trade efficiency. AMKBY shares dropped 2.10% to $8.85.

Portfolio Pulse from Lekha Gupta

December 28, 2023 | 4:38 pm

Disruptions in the Red Sea due to attacks by Yemeni Houthi rebels are causing freight rate spikes and potential inflationary pressures. The Red Sea/Suez Canal corridor, accounting for 12% of global trade, is being avoided by freight companies, leading to longer shipping routes and higher costs. Maersk (OTCPK: AMKBY) has imposed a surcharge, and oil prices have risen, with BP (NYSE:BP) suspending oil shipments through the region. The United States Oil Fund (NYSE:USO) ETF tracking light-sweet crude oil prices has seen an increase. Delays and higher freight rates may affect product availability and prices, with Europe likely to feel the impact more than the U.S.

Portfolio Pulse from Neil Dennis

December 22, 2023 | 6:41 pm

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