ML
PDL - Prodn beats at 2.62Mct. Upgrades prodn guidance for FY to 3.6-3.65..+3%
UPM - Looks like EBITDA beat 403m v 363m cons. Keeps FY forecast........+2-3%
THALES - Huge DCNS order win ($39bn contract) positive for sentiment......+2%
BAYER - Sales 2% miss but EBITDA 12% beat and EPS 10% beat v cons the key.+2%
BATS - Good. Orggrowth 7.5% v cons 5.1%. Volumes line -0.6 v act +2.4%....+2%
M6 - FTA ad growth beat. EBITDA 6.5% ahead of cons, rev broadly inline....+2%
SAFRAN - Q1 sales beat with rev 3% beat. Won't comment on Zodiac rumours+1-2%
BOOHOO - Numbers look 2-3% better across the board. Stock has had run...+1-2%
SJ JAMES - AUM 3% beat v cons, gross flows and value also beat cons.....+1-2%
WHITBREAD - Inline. EBIT £569mn v £566mn. Outlook looks satisfactory....+1-2%
DSM - Good beat. Q1 EBITDA 8% beat at 296 v 274 cons, outlook maintained..+1%
ORANGE - Solid. Q1 inline with revs 0.6% ahead at EUR10bn. Guidance reit..+1%
JARDINE LLOYD - Good start in trading performance. FY 16 remains on track.+1%
BP - Positive. Cut 2017 capex guidance again to $15-17bn (from $17-19bn)..+1%
UMICORE - Rev +1% y/y in 1Q16, cons at +8.3% for H1. FY16 guidance v weak.u/c
SOFTWARE AG - Q1 rev 4% beat, EPS beat, FCF inline. Confirms FY16 outlook.u/c
LUFTHANSA - Warns of 'massive flight cancellations' due to German strikes.u/c
RANDSTAD - Q1 inline with EBITDA EUR 169m, EPS 3% beat €0.67 vs €0.65.....u/c
SWEDBANK - Mixed. Pretax profit 4% beat but NII 1.4% miss. Capital -40bps.-1%
THYSSEN - France's DCNS wins tender to build 12 submarines for Australia..-1%
AIR LIQUIDE - Org growth touch light at 4.2% v company provided cons 4.3%.-1%
CS:
Adecco -1% Negative read from Randstand's numbers
Adecco -1% Negative read from Randstand's numbers
Air Liquide -1% 1Q rev misses ests but cap inc not as big as expected
Aixtron +2% Management reiterates full year 2016 guidance
Ams -3-5% Q1 2% beat but guidance is weak
BATS +2% Q1 rev up 7.5% est up 5.1%
Bayer +2% Q1 Net sales EU 11.9b est EU 12.1b, confims 2016 forecast
Boohoo +2-3% FY revs 1% beat, EBITDA 3% beat, encouraging start to FY17
BP +1-2% Adj net $532mn v consensus loss of $140m
Charles Vog +1% No's slightly light but guidance inline
Cobham -20% Q1 tough, sees a £15m profit shortfall for FY
Countrywide -2% Numbers inline but outlook cautious
Equiniti M/P Numbers inline with market expectations
Fiat +1% Recalls related to the rollaway issue, nothing new
Lonza +5%+ Strongest 1Q in history in terms of sales and earnings
Lufthansa -1% Warned “massive flight cancellations” at hubs
Miners UNCH Copper -1.40%, Brent -0.65%, Iron Ore -1.20%, China -0.14%
Millicom M/P 1Q Ebitda Beats Estimates, Revenue Misses
Orange +1% Q1 Rev EU 10b est EU 10b, outlook unchanged
Orange +1% Q1 Rev EU 10b est EU 10b, outlook unchanged
Petra Diamond M/P Rev's light, Raises production guidance for FY16
Randstad -2-3% No's inline, outlook light, Margin tgt is 5-6% was 4.6%
Royal Mail +1% CS upgrade to NEUTRAL (Valuation + Cost cutting)
Saltzgitter -4-5% Q1 sales 4.5% miss, cites "extremely challenging market"
Safran +2% Q1 Adj Rev EU 4.24b est EU 4.12b, confirms FY outlook
Smiths +1% CS upgrade to OUTPERFORM (Valuation)
Software UNCH Numbers inline with pre-release on 12 April
Stratec -1-2% No's slightly light, Confirms FY outlook
St James +1-2% FUM £62bn, 55.8bn at end-2015, 3% beat
Swedbank +1% Bottom line better, CET1 at 23.7%
Thales +3% France Wins $39 Billion Contract to Build Australian Subs
Thyssen -1% France Wins $39 Billion Contract to Build Australian Subs
Tieto +1% Sales EU368m vs est. EU370m, guidance looks better
Umicore UNCH EBIT Guidance 335-360mln cons 345mln
Whitbread +1-2% No's inline, good start to year, maintain guidnce.
RBC:
AIR LIQUIDE -1% Q1 revenues miss, AIRGAS deal on track, outlook reiterated.
RBC:
AIR LIQUIDE -1% Q1 revenues miss, AIRGAS deal on track, outlook reiterated.
AIXTRON +2% Earnings miss but v low expectations, , guidance reiterated.
BATS +2% Q1 revenues +7.5% v +5.1% exp. Volumes ahead, strong H2 exp.
BAYER +2% Q1 ahead across the board, strong XARELTO sales, new drugs beat
BP +2% Q1 positive, adj net income ahead on Downstream beat. Call @ 2pm
CASINO 0% CNOVA review update, EBIT ahead but further issues identified.
COBHAM -15% Warning, trading profits @ £15m v £50m exp. - £500m rts issue
DSM +2% Q1 profit beat, Nutrition ahead, US mkt slow, maintain outlook
ORANGE +1% Q1 revenues inline, EBITDA flat, no discussion with KPN/ZAIN
PETRA D. -2% Q3 IMS light due to weakness @ Cullinan.
RANDSTAD 0% Q1 EBITDA inline, org gorwth +5%, GM flat, geographically inline
SAB MILLER -1% Kulczyk placing half their holding (24m shrs) @ 4180
SAFRAN +1% Q1'16 adj revenues inline, LEAP on track, no ZODIAC comment
SALZGITTER -4% Q1 sales and earnings light as expected, sector down overnight
SWEDBANK -2% Q1 pre-tax miss, total rev miss, NII small miss v consensus.
TELEFONICA -2% EU Anti-trust regulator to block Huchison's O2 deal
THALES +2% Own 35% of DCNS, contract win to build submarines, Australia.
THYSSENKRUP -4% Loses bid to build 12 Submarines for Australia, sector weakness
UMICORE 0% Q1 trading update bang inline, but enough?
WHITBREAD 0% Inline update, positive COSTA sales, reiterate outlook
Mainfirst:
*BAYER-Sales 11.9b(12.1),Ebitda 3.4b(3.1),Ebit 2.34b(2.17)............+1.5%
Mainfirst:
*BAYER-Sales 11.9b(12.1),Ebitda 3.4b(3.1),Ebit 2.34b(2.17)............+1.5%
*ORANGE-Rev €10.b(10),Restated Ebitda 2.57b(2.56),Confirms tgts.......+2%
*AIR LIQ-Rev €3.872b(3.968),Airgas Acq's on track,Reits outlook.......-2%
*SAFRAN-Q1 Adj Rev €4.24bln vs est €4.12bln,Confirms FY o/look........+1%
*TIETO-Q1 Net Sales €368m(370),OP Ex €31.5m(31.6),FY unch.............-0.5%
*DSM-Ebitda €296m(271),Rev €1.91b(1.93),Net €84m(72.4),o/l unch.......+2%
*SWEDBANK-NI SK4.31b(4.03),NII SK5.62b(5.71),LL SK35m(-319)...........-2%
*LONZA-Bizz perf above tgt,DD Ebit grth H1,FY reviewed with H1........+2%
*RANDSTAD-Rev €4.7b(4.71),Ebita €169m,March Rev grew by 4.6%..........U/C
*THYSSEN-DCNS wins submarines tender worth $39bln(Thales/DCNS)........-5%
*AMS-Sales 137.2m(136.6),Ebit 19.7m(24.5),Net 13.6m(21.7),Q2 weak.....-15%
*SALZGITTER-Ext Sales €1.9b(1.99),PT 3.1m(-12.5)Incl Aurubis 11.6m....-0.5%
*AIXTRON-Ord Intake 44.4m(38),Sales 21.4m(29),Ebit -14.7m(-15)........+5%
*STRATEC BIO-Sales 31.2m(33),Ebit 4.53m(5),FY Sales look lite.........-5%
*STRATEC BIO-Sales 31.2m(33),Ebit 4.53m(5),FY Sales look lite.........-5%
*SOFTWARE-Final figs NI 29.5m,FCF 60.5m,Ebit 45.3m,Reits outlook......-0.5%
*THALES-Read across from DCNS contract win............................+2%
ShoreCap:
BATS - volumes +3.6%,market share +20bps,revs +7.5%,environment challenging.UNCH
ShoreCap:
BATS - volumes +3.6%,market share +20bps,revs +7.5%,environment challenging.UNCH
ST.JAMES'S PLACE - inflows +16% £2.45bn,record inflow in March,FuM at £62bn..+2%
COUNTRYWIDE - strong Q1,exchanges +30%,Q2 to slow,maintains FY outlook......UNCH
DIALIGHT - demand remains inline with expec,continues to target EBITDA growth+2%
STV GROUP - Q2 national revs flat,regional +12%,positive start to year......UNCH
BROOKS MACDONALD - FuM +2.4% at £8bn,organic growth remained strong.........UNCH
CARPETRIGHT - LfL sales +0.7%,FY margins guidance revised lower............-1.5%
REAL GOOD FOOD - trading inline, sees exceptional profits of £9.4m..........UNCH
JARDINE LLOYD - gd start to yr,challenging environment,headwinds to persist..-1%
BREEDON - looks for favourable outcome from the CMA re acquisition of Hope..UNCH
BOOHOO - Fy ebitda in line.Sees fy 2017 sales up about 25%..................UNCH
BP - Q1 net pft $532m(est244.9 loss).Sees Q2 production lower than Q1........-2%
COBHAM - Q1 trading behind forecasts.Sees fy profit shortfall about 15m.....-10%
WHITBREAD - Fy sales +12%.Fy pbt 487.7.Confident forward statement...........+2%
SANDERSON - Group trading results for 6 months in line with estimates.......UNCH
EMIS - Says trading in line with expectations...............................UNCH