Story
Hochtief Shares Fluctuate After Company Raises 2026 Profit Guidance
Summary
German construction firm Hochtief upgraded its 2026 operational net profit forecast, prompting a volatile session where its shares initially fell before recovering most of the day's losses.
Shares of German construction group Hochtief (DE:HOTG) experienced a volatile session on Monday, initially falling despite the company raising its profit guidance for fiscal year 2026. The stock pared most of its early losses after the announcement.
Upgraded Outlook
Hochtief announced it is raising its forecast for 2026 operational net profit to a range of €1,025 million to €1.10 billion. This represents a significant upward revision for the construction services provider.
The company highlighted a particularly strong outlook for its Turner division. Guidance for Turner's operational profit before tax was increased to between $1,400 million and $1,460 million. According to the company, this new range reflects an anticipated year-over-year increase of 35% to 40%.
AdMarket Reaction
Despite the positive forecast, Hochtief's shares initially fell by as much as 4.5% in Monday's trading. However, the stock later recovered to narrow the day's decline to approximately 1%.
Investors are awaiting further details on the company's performance. Hochtief is scheduled to publish its full half-year financial report for 2026 at 2 p.m. CEST on Monday.
Read next
More on Stocks
Citigroup Targets Over $3 Billion Banamex IPO for January, Bloomberg Reports
Citigroup is reportedly preparing for an initial public offering of its Mexican retail unit, Banamex, that could raise over $3 billion and is targeted for January. The move represents a major step in the bank's multi-year strategy to exit international consumer banking operations.
Bovespa Index Slips 0.27% as Basic Materials, Consumer Stocks Weigh
Brazil's benchmark Bovespa stock index ended Friday's session lower, weighed down by losses in the basic materials and consumption sectors. The decline occurred despite more individual stocks advancing than declining on the exchange.
Bipartisan Bill Seeks to Ban Chinese Optical Transceivers from US Government AI Systems
A group of U.S. lawmakers has introduced legislation to prohibit the federal government from using Chinese-made optical transceivers in sensitive systems, citing national security risks to AI and cloud infrastructure.
Circle CFO Jeremy Fox-Geen to Step Down; Co-Founder Exits Board
Circle Internet Group, the issuer of the USDC stablecoin, announced that Chief Financial Officer Jeremy Fox-Geen will step down. The leadership change also includes the departure of co-founder Sean Neville from the company's board.