MS CALLS
COMPANY INDICATION COMMENT
ADS GY +4% FY16 INLINE; FY17 GUIDANCE IMPLIES MID-HIGH SINGLE DIGIT UPGRADES TO CONS (THOUGH SUSPECT WHISPER HIGHER).
AF FP UNCH FEB TRAFFIC WEAKER BUT BALANCED BY MORE POSITIVE YIELD COMMENTARY
AM FP -3% WEAKER NUMBERS BUT FORECASTS HIGHER 2017 SALES / DIV 12.1EUR EST WAS 12.5EUR
CNE LN UNCH CAIRN ENERGY FY LOSS/SHR 16.56C VS BLOOMVERG EST LOSS 12.24C,GY OP LOSS $148.2M,SAYS CATCHERE,KRAKEN ON TRACK FOR FIRST OIL FROM 2017
DEQ FY -3% DEUTSCHE EUROSHOP BOUGHT A SHOPPING CENTER FOR 382M EUR AND DECIDED TO RAISE CAP EX SUBSCIPTION RIGHTS / UP TO 4.7M SHS / 8.7% OF CAP / REPORTED NUMBERS ARE A TOUCH BETTER
DPW GY -1% UNDERLYING EBIT SMALL MISS AND 2017 GUIDANCE BELOW CONS.; DIVI TOUCH ABOVE; LIKELY TO SEE SOME PROFIT TAKING
ELE SM +3% PRESS REPORTS CHAIRMAN HAS BEEN APPROACHED OVER TAKEOVER
GFS LN +3% G4S FY16 ADJ REV GBP6.82B VS BLOOMBERG CONS GBP6.81B,FY16 DIV/SHR 5.82P
HILS LN +2% HILL & SMITH FY REV GBP 540.1M,FY ADJ OP PFT GBP 70.6M
ISAT LN +2% INMARSAT FY16 REV $1.33B VS BLOOMBERG EST $1.31BLN,OUTLOOK CONTINUES TO BE DIFFICULT TO PREDICT
LGEN LN -1% UNEXCITING UPDATE - NO.S BROADLY IN LINE - DIV INLINE, THERE WERE SOME HOPES OF AN INCREASE
PAGE LN +2% PAGEGROUP FY REV GBP1.20B VS BLOOMBERG CONS GBP 1.21B,FY SPECIAL DIV / SHR 6.46P
PBB GY +2% GOOD SET OF NUMBERS / DIV EUR 1.05 / KEPT FY17 OUTLOOK
CS:
Adidas +2-3% Numbers better, guidance ahead, divi better
Admiral UNCH EPS 2% beat, overall dividend light, growth still strong
Agfa Gevaert +2-3% FY revs slightly ahead, guidance ahead
Allianz -1% Regulator rejected purchase of life insurance portfolio
Assa Abloy +0.5% Investor day after close, targets cautiously conservative
Azimut -1-2% Announced that its CFO is leaving the business
Bossard UNCH FY16 EBIT 1.5% ahead, Net income 3% ahead, outlook inline
Boskalis +2% Revs 2.6b cons 2.551b, EBITDA 660m cons 600.5m
Cairn Energy M/P Net loss slightly worse but cash slightly ahead
Credit Ag +1% Said to weigh $2.4B Saudi Bank Stake
Deut Post -2% FY revs €57.3b vs cons 56.37b, EBIT slightly light
Deut Pfand +2-3% FY Pre-tax ahead, dividend better
Dorma Kaba M/P H1 Sales inline, EBITDA 1% ahead, confirms objectives
Endesa +3% Chairman said approached over takeover
Foxtons -2-3% Numbers light and guidance cautious, UK budget today
GFS +2-3% Revs £6.82bn vs cons £6.81bn, cash flow better
Hochschild -1% Revenues 1.5% light, Adjusted EBITDA 2.5% light
Inmarsat +2-3% 4Q revenues, EBITDA better, market challenging
L&G -1-2% Op profit 1.5% below cons, EPS slightly light
Miners UNCH Copper +0.55%, Brent -0.65%, Iron Ore +1.00%, China -0.20%
Novo Nord -1-2% Expects to falls short of 2020 goal of 40m patients
Oils -0.5% US API showed a build of 11.6m barrels. WTI -85bps
Page Group M/P FY 16 operating profit slightly ahead, nothing on guidance
SAS M/P Q1 pretax loss SEK697m, cons loss SEK651.5m
Schaeffler +1-2% EBIT margin at 12.7% (est 12.3) and guidance inline
Unite Group +0.5% Exchanged contracts for the disposal of Woburn Place
Verbund UNCH FY16 EBITDA small ahead, divi inline, guidance light
MF
*ADIDAS-Q4 GM 48.8%(46.6),Rev 4.69b(4.67),E-Comm 4b by '20(2).........+3.5%
*CREDIT AGRICOLE-Considers selling $2/4b Saudi stake sale(31%)........+0.5%
*DEUT POST-Q4 Ebit 1.11b(1.12),FY Ebit 3.49b(3.5),Rev 57.3b(56)... ...-0.5%
*SAP-Growth in Asia remains strong,lwed by Emerging markets...........+0.25%
*ONTEX-FY Rev 1.99b(1.99),Q4 Rev 520.2m(516),Ebitda 62.2m(61.5).......+1%
*BOSKALIS-FY Rev 2.6b(2.55),Ebitda 660m(600.5),'17 Capex 250m.........+1%
*IMCD-FY Rev 1.71b(1.72),Gross Inc 381.6m,Ebita 147.8m(142),DPS 55c...+1%
*POPULAR-Asks AGM permission for possible Capital Increase............-0.5%
*ENDESA-Chairman said approached over takeover - Confidencial.........+1%
*DORMA-H1 Ebitda 175.4m(173),Rev 1.17b(1.17),Confirms FY tgts.........+0.5%
*DSM/EVONIK-To invest €200m in Omega 3 plant - Telegraaf..............-0.3%
*BEIERSDORF-FY Rev/OG known,Ebit 1.015m(1.015),NI 709m(684),o/l gd....+0.5%
*DT PF&BRIEF-Q4 PT 55m(40),NI 10m(0),NII 112m(105),o/look +ve.........+1.5%
*DASSAULT AVIATION-FY Net 384m(427),Div 12.1(12.5),Ord intake dwn.....-3%
*AIR FRANCE-Feb traffic +2.9%,6.5m passengers,Transavia +30%..........+1%
*SCHAEFFLER-All know,Rev 13.3b,Ebit Margin 12.7%,Div increase.........U/C