Can Siemens Stock Trend Higher?
T = Trends for a Stock’s Movement
Siemens is an integrated technology company with activities in the fields of industry, energy, and health care. Siemens operates in six segments: industry, energy, health care, equity investments, Siemens IT solutions and services, and Siemens financial services. The company has equity investments in telecommunications infrastructure and household appliance companies as well as in a company that provides open communications, network, and security solutions.
Siemens reported earnings results that showed losses, although those losses were less than analysts had been expecting. Siemens also announced a $5.4 billion share buyback that CEO Joe Kaeser believes will help make the European engineering company more profitable. Income from continuing operations dropped 13 percent to 1.08 billion euros and revenue fell 1.3 percent to 21.2 billion euros. Siemens raised its forecasts for the fiscal year, as Kaeser plans to raise the company’s profit margin to 10 percent of sales next year.