ML
DE LA RUE - FY op profit expected to be £62m v £55.5m cons. FY16 reit..+5-10%
ELEKTA - Richard Hausmann joining in May & becoming new CEO as of June....+5%
SOFTWARE AG - Beat. Prelim 1Q Rev EU 206.2m v EU 197.6m, +2% after-hrs..+2-3%
TELFORD HOMES - Expect PBT to be slightly ahead of current expectations.+2-3%
TESCO - Solid. UK LFL for Q4 +0.9%. Op profit 2% beat. Short interest 7%+2-3%
COUNTRYSIDE - Very positive H1 update & expects to make progress at FY..+2-3%
AXA - In talks to sell Axa Wealth in deals that may raise £500-700mn....+2-3%
WH SMITH - Good. PBT beat, £80m for the 6m is better than cons of £78mn...+2%
HALFORD - LfL numbers beat on all metrics. On track for pretax of £78-82m.+2%
JUPITER - Net inflows £723m v £400m cons. Total AUM 2% ahead of BAML est..+2%
THYSSEN - More spec around deal with Tata. Planning to sell CSA in Brazil.+2%
H&M - Stefan Persson (Chairman & largest SH) purchases 3.28m shrs ($117m).+2%
SANOFI - Spec Medivation (+9% a/hrs) rebuffed t/over approach from Sanofi.+2%
ROBERT WATERS - Q1 net fees +9%, solid start to the yr. HAS reports tmrw..+2%
VESTAS - To supply wind turbines for a 600 MW project in US contract......+1%
DANONE - Appointing Heller (ex Kraft, J&J) as head of Early Life Nutrition+1%
ASTRAZENECA - Rival drug Rociletinib receives -ve vote from FDA panel.....+1%
LEG - Acquiring 1,100 units, EUR 53mn consideration (inc EUR 20mn debt)...+1%
LOGITECH - To buy Jaybird for $50m, expanding into fast growing wireless..u/c
SEGRO - Finance Director Justin Read to retire later this year............u/c
ATK - Expects FY inline with exp, shrs recovered well from Feb lows.......u/c
HUNTING - Rev YTD -50%, and profits are set to be low as expected.........u/c
CS
Autos +1-2% Asia strong, Euro back below 1.14
Berkeley +1-2% Won approval to develop as many as 652 homes
De La Rue +6-8% Sees higher FY operating profit than epected
Diageo +1% CS reiterate OUTPERFORM post roadshow
Gerresheimer +1% Q1 Sales 0.5% miss, EBITDA 0.7% miss, confirmed FY16
Halfords +1-2% No's slightly better, Says on track to meet profit for FY
Hella -1% Q3 EBIT 6% miss, revenues 2% miss, reiterates FY
Jupiter +2-3% Net inflows of £0.723b better, AuM of £36.2b (CSe 35.5b)
Logitech M/P To buy Jaybird for $50m
Miners +2% Copper +1.70%, Brent +0.15%, Iron Ore +1.70%, China +2.35%
Mittal +3-4% CS upgrade to OUTPERFORM (Cycle recovery)
Oils +1% Spec Russia/Saudi reached consensus on an oil output freeze
Rob Walters M/P Q1 gross profit 59m vs cons 59.9m, FY unchanged
Software +2-3% Positively pre-announced, revs 4% beat, reiterated FY
Stan Life +1-2% Spec Standard Life is bidding for Elevate, Axa’s platform
Tesco +2% Profit ex items 944m vs 940m, UK lfl 0.9% cons -1.9%to+1.5%
WH Smith M/P Pretax a tiny bit ahead, dividend slightly better
WS Atkins M/P Traded well through Q4, sees FY inline
Commerzbank:
ALV +0.5% JPM cuts to Neutral (Overweight) – PT €175 ECX +26.5% Gets FDA approval for Epi Procolon Cancer Test HLE –0.9% Results slightly below exp and unchanged guidance GXI +1.9% Q1 below, guidance in line LEG +0.1% Buys portfolio worth €53mn LNSX -0.4% DZ Bank starts with Buy - PT €22.5 SAZ +0.4% CBK ups to BUY (Hold), PT €44 (32), valua not reflecting better CF SHA +1.3% HSBC reinitiates with BUY and a PT of€18 SNH +0.1% FNAC is studying a possible new offer for Darty SOW +0.2% Excellent Q1 due to “old” business, digital disappointing SPR –0.1% To invest more cash in Retale this year
SRT3 +0.7% HSBC raises to Buy (Hold) – PT €275 (256) TLX +0.2% Plans to cut 330 jobs at HDI sales unit by 2020 TKA +1.1% ThyssenKrupp, Tata said to weigh IPO of merged steel units
MainFirst Pre Mkt Indications
*GLAXO-Expects positive FX impact on Q1 sales around 2% to 3%......+0.5%
*AIR FRANCE-Offer viewed unfavorably by pilots says Les Echos......-0.5%
*SANOFI-Medivation has rebuffed takeover approach from Sanofi......U/C
*TESCO-FY OP 944m(936),Sees profit improvement in H1...............+2%
*SOFTWARE-Q1 Rev 206.2m(197.6),Ebit 45.3m(38.28),take profits......+1%
*VESTAS-Conditional deal for 600 MW project in USA-Not Firm........+0.5%
*LEG IMMOBILIEN-Buys portfolio worth €53m..........................U/C
*GERRESHEIMER-Sales 342.3m(342.4),Ebitda 66m(63.8),EPS 74c(67).....+1%
*DASSAULT AVIATION-CEO hopes 2 sign India Rafale deal soon(again)..U/C
*HELLA HUECK-Rev 1.5b(1.52),Ebit 89m(95),NI 53m(63),o/l ok ish.....-1%