Royal Philips NV said the strength of the euro will make 2014 a “challenging” year after the world’s biggest lighting manufacturer reported first-quarter earnings that missed analyst estimates. The stock declined the most since June 2011.
Asian stocks fell, with the regional gauge heading for its first drop in four days, led by health-care stocks and information technology shares. Several markets across the region are shut today for a holiday.
SAP AG, the largest maker of business-management software, is finding it hard to please investors as a sales boost from its shift to online programs is being muted by a slowdown for older products and a strong euro.
Enghouse Systems Ltd., a Canadian software company that gets 95 percent of its revenue outside the country, has C$100 million ($91.1 million) cash available for acquisitions, as it hunts for purchases in countries including Germany and New Zealand.
KKR & Co., the private-equity firm run by Henry Kravis and George Roberts, is offering its investors a minority stake in Visma AS, a Norwegian software company, according to three people with knowledge of the matter.