ML
OPERA - Kunlun and Qihoo bid NOK 71 per share for co, 45% premium........+35%
SMURFIT - #s in line, bigger +ve is co considering premium UKLA listing...+5%
TULLOW - Positive message on further capex cuts in 2016...................+5%
DUNELM - Underlying PBT £75.5m v 72.1m est, special div of 31.5p........+3-5%
D. BANK - FT says co considering multi $bn eurobond buyback, ADRs +2.75%..+4%
BELLWAY - Sees H1 revenue of £1.075bn, avg selling price higher, solid....+3%
VICTREX - IMS weak as expected, revs run rating at 21% of FY, 5.5% short+2-3%
BP IM - NII disappointing but op costs better and solid top line..........+2%
NYRSTAR - We UPGRADE to BUY, PO to EUR 1.15 from 80c......................+2%
AMADEUS - +ve read from SABR US performance, +7.5% post numbers...........+2%
HOCHTIEF - +ve read from very strong CIMIC numbers, CIM +9% in Oz.........+2%
MICHELIN - Echos says co to present reorganization plan by end-March......+2%
GPOR - Solid IMS, strong lettings and disposals, fears overdone.........+1-2%
GREENE KING - Expectations for FY unchanged, LFLs broadly in line.......+1-2%
WS ATKINS - Q3 update in line, relief after 7% fall in past 2 days......+1-2%
KLEPIERRE - FY results broadly in line, operating metrics solid.........+1-2%
QINETIQ - Reiterates outlook, up 5.5% yday but has been very weak YTD.....+1%
ACS - +ve read from very strong CIMIC numbers, CIM +9% in Oz..............+1%
DSV - Q4 op profit in line, better working capital perf, guidance in line.+1%
CARLSBERG - Q4 EBIT a 15% beat but all FX, guidance implies MSD cons d/gs.+1%
GENERALI - As per spec co confirms they appoint Chairman as interim CEO...+1%
AURUBIS - Q1 revs 4-5% ahead but pretax in line, confirms forecasts.......u/c
ARM - EBIT a small beat £136m v 134m est, guidance broadly in line........u/c
HEINEKEN - FY15 org revs +3.5% v 3.8% cons, EBIT margins in line..........-1%
VOESTALPINE - Q3 EBIT 5% light vs cons but commentary not too cautious....-1%
TELENET - Q4 rev in line, EBITDA a 2% miss but FCF the positive...........-1%
CARGOTEC - Q4 sales touch light, op profit misses, guidance in line.......-2%
SAAB - Q4 EBIT SEK 1.35bn vs 1.14bn cons on strong sales but guide poor...-2%
AKZO NOBEL - EBITDA a 3% miss and outlook challenging according to co...-2-3%
MAERSK - NOPAT $3,071m vs $3,361m cons,guide signif below $1.3b,1.25 cons.-3%
HERMÈS - Sales 2% ahead BUT co stepping away from MT target of 8%.......-4-5%
TELENOR - EBITDA 2% miss, div light, guide for 2-4% growth vs 5.6% cons.-4-5%
MAPFRE - Net income a 9% miss, div cut and BV 2% light of cons..........-4-5%
CS
AkzoNobel -1% Q4 EBIT €268m CSe €263m, miss in paints, beat in coatings
ARM +1% Q4 Rev GBP 269.1mln est GBP 262.4mln
Bellway +2% No's better, trading conditions continue to be favourable
Belimo +1% Sales CHF493m is inline, EBIT CHF74m vs cons 72m
Carlsberg -2% Q4 EBIT beats, cost plan 'well on track', d/graded outlook
Coface -1% Operating income and revenues slightly light
Daimler -1% Story - 841k Mercedes cars and Daimler vans being recalled
Deut Bank +3-5% Considering buying back several billion euros of debt, FT
Dominos +1-2% CS upgrade to OUTPERFORM and add to SMID FOCUS LIST
DSV M/P Numbers inline, dividend slightly light, guidance inline
Electrocomp M/P No's mixed, North America slowed, APAC ok, outlook ok
Glencore +1-2% Spec senior lenders supported $8.5b refinancing of revolver
Grenkeleas +1-2% FY profit +24%, dividend slightly light, outlook inline
Greene King +1-2% LFL sales +2.2%, FY expectations unchanged
Great Portl +1-2% Tennant demand continues to remain strong, lettings better
Hermes -2-3% Q4 LFL sales +7.2% (est +6), France ok but outlook light
Heineken -2% 2015 Net profit ex items inline with est, outlook cautious
Heidel Druck +2-3% 9-mth sales rose 16%, reiterated FY outlook
Hochtief +1% CIMIC Group rallied 9%, Hochtief owns 70% of CIMIC
Klepierre +2% NAV at EU34.7 vs 32.1 last year, outlook supportive
Lundbeck +1-2% FY revs better, longer term guidance better
Maersk -3% Underlying profit 7% miss vs cons, guidance light
Miners -1% Copper UNCH, Brent -3.95%, Iron Ore Closed, China Closed
Oils -1-2% API inventories rose by 2.4m barrels in the week to Feb. 5
Orpea +1% Sales inline and outlook inline
Qinetiq -1% Numbers inline, outlook expectations unchanged
Smurfit Kap +3-5% EBITDA inline, rev beat, considering listing category
Telenet -1-2% Revenues inline, EBITDA slightly light
Telenor -3-5% Q4 Sales inline, weak margin and capex guidance
Tullow Oil +1-2% Financials inline, working on lowering CAPEX
Unibet +0.5% 4Q gross winings rev 111.4mln vs cons 98.4mln, divi better
Victrex -1% Sales 10% below CS and vol 14% below, guidance ok
Vontobel +1% Vontobel to stay partner with Raiffeisen in some AM areas
Voestalpine +2% Q3 EBIT inline, net debt unchanged, guidance inline
WS Atkins +1% Group continues to trade inline with Expectations
MF
*DAI-Sees $384m expense for U.S. Takata Air-Bag Recall-840k cars......+0.5%
*SAB-Asahi reaches agreement with SABMiller to buy brands-Nikkei......+0.5%
*DBK-In early stages of mulling Bond buyback..........................+4%
*AKZO-Rev 3.56b(3.52),Ebitda 426m(443),Op Inc 268m(288)...............-2%
*HEINEKEN-Pft 2.05b(2.05),Beer Vol 2.3%(2.3),Org Rev 3.5%(3.6)........+1%
*CARLSBERG-Sales 14.7b(14.2),Ebit 1.41b(1.22),Beer vol -4%(-2.7)......+4%
*TELENOR-Rev 33.5b(33.5),Ebitda 10.9b(11),Thailand/Malaysia weak......-2%
*DSV-FY Rev 50.9b(51.1),OP 3.05b(3.06),Net 2.06b(2.06),Div 1.7........+3%
*ORPEA-FY Sales 2.39b(2.39),Organic Grth 5.4%,Q4 Rev €650m............+1%
*TELENET-Rev 458.7m(461),Ebitda 219.5m(225),Ebit 122.4m(127)..........-2%
*FRAPORT-Jan passengers +2.2%,Cargo -0.3%,Movements -1.1%............+0.5%
*UNIBET-PT 21.3m(20.6),Rev 111.4m(98.4),Divi 235c(22).................+2%
*VOESTAPLINE-Ebit 151.9m(159.1),Rev 2.594b(2.65),Ebitda 315.2m(320)...-3%
*H/DRUCK-Sales 640m(618),Ebit 22m(25),Net 7m(4.75),FY looks lite......+1%
*MAERSK-2015 Pfts 3.1b(4.5),takes 2.6b charge on Oil,b/even 45/55 bbl.-5%
*HOCHTIEF-CIMIC(Leighton) good no's o/n,stk +8.9%,Hochtief owns 69.9%.+2%
*HERMES-2016 S/Grth may fall short of mid-term goal,Sales 1.4b(1.37)..-8%