Philips said on Tuesday it has agreed to sell an 80.1 percent stake in its lighting components division for $2.8 billion to Go Scale Capital.» Read More
In its first earnings update since revealing plans to spin off its lighting business in September, Dutch electronics giant reports net loss.
The CEO of Philips told CNBC on Tuesday that that splitting the company into two separate divisions would create growth opportunities.
Some of the names on the move ahead of the open.
European shares closed lower on Monday as sentiment remained subdued due to the ongoing tensions in Gaza and Ukraine.
Electrical goods producer Philips reported a drop in second-quarter earnings but expects to see an improvement in the second half of the year.
European shares closed flat on Monday, at the start of a week packed with important economic data.
Philips Electronics said on Friday it had won a patent infringement cases against Nintendo in the United Kingdom.
Sony chief executive said the company would complete a stepped-up restructuring drive and forecast a tripling in operating profit.
Some of the biggest names in European business have further complicated the dilemma currently facing Mario Draghi.
European shares closed higher on Tuesday, starting a shortened trading week on a positive note.
Dutch electronics conglomerate Philips reported a dip in net income on Tuesday, but its CEO was upbeat on Europe's outlook.
European equities closed the session in positive territory after consumer data and earnings in the U.S. helped to boost sentiment in afternoon trade.
Dutch technology company Philips reported fourth quarter sales that missed forecasts on Tuesday.
European shares closed near five-year highs on Monday, helped by gains from Philips and SAP, as well as encouraging U.S. housing data.
Nick Xanders, head of European equity strategy at BTIG, discusses European equities following results from SAP and Philips and says the increase in the euro is "a big issue".
European shares trimmed losses to close lower on Tuesday, but investors remained cautious about the Federal Reserve's two-day policy meeting.
Frans van Houten, CEO of Philips, stresses the lower prospect for growth short-term due to concerns about the global economy and discusses the group's capital allocation policy.
Global economic difficulties will persist and could affect Dutch electronics giant Philips, the group's CEO told CNBC Tuesday after raising its financial targets and announcing a share buyback.
The supervisory board of Siemens confirmed the resignation of Chief Executive Peter Loescher on Wednesday and appointed Joe Kaeser, the company's Chief Financial Officer as the new CEO.
Frans Van Houton, CEO of Royal Philips, tells CNBC that he is focused on innovation, entrepreneurism and going for growth in the growth markets.