PUMA - Rumors of Acquisition Drive the Stock!
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Business drivers: PUMA has recently been experiencing significant declines in revenue and earnings due to internal issues and increasing competitive pressure. Accordingly, the Herzogenaurach-based company had to revise its annual forecast after the latest Q2 figures and now expects a low double-digit percentage decline in currency-adjusted revenue, as well as a loss in adjusted operating profit. Since the Pinault family, which holds about 29% of PUMA shares, is seeking to sell its stake, PUMA has recently reported significant gains. On September...
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