Can Phillips Stock Move Higher?
T = Trends for a Stock’s Movement
Phillips is a Netherlands-based provider of healthcare, lighting, and consumer lifestyle businesses worldwide. The company operates within the following main business sectors: Healthcare, Consumer Lifestyle, Lighting, and Group Management and Services. The Healthcare sector offers both personal care and professional products, such as computer tomography equipment, radiography equipment and refurbished systems, among others. The Consumer Lifestyle sector offers a range of sound, vision, and household products such as television, headphones, and digital cameras, among others. The Lighting sector offers lighting products such as professional lamps, ballasts, luminaires, and more. The Group Management & Services sector provides the operating sectors with support through shared service centers.
Philips shares have fallen as the Dutch electronic and healthcare company’s forecasts fell short of expectations. The company said it plans to buy back $2 billion worth of its own shares and will grow sales between 4 and 6 percent through 2016, according to the Wall Street Journal. Philips has been restructuring, cutting jobs and expenses, and focusing on its main products like hospital scanners and LED lights. Some criticized Chief Executive Frans van Houten, saying he could have made more optimistic predictions, but he responded that the targets are “balanced, responsible, and we’re also able to deal with some contingencies.”