Osram Shares Fall As 2016 Outlook Disappoints Investors
Shares have fallen to a 10 month low of 37 Euro following the outlook released by the company after markets closed.
Chief Executive Officer Olaf Berlien unveiled his five-year plan for Osram which included introducing a 500 million-euro ($536 million) share buyback and a 3 billion-euro investment in research, development and a new Malaysian plant to make semiconductor chips for light-emitting diodes. Those measures will burden profitability while shifting Osram’s focus away from lucrative niches, Barclays analyst David Vos said.
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