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Market Update

Adidas Net Soars 11%; Deutsche Telekom Net Slips, T Mobile Lifts Outlook


Author: Nigel Thomas
ticker.com
Last Update: 11:40 AM ET August 06 2015

4:00 PM Frankfurt adidas said profit soared 11% and the athletic shoe maker completed the acquisition Runtastic. Aviva net tumbled 37%. Deutsche Telekom profitplummeted 41% to 1.5 billion. Deutsche Post declined 15%. Metro net slid 1% to 158 million. Merck net jumped 13%.

In London trading, FTSE 100 index edged up 2.59 to 6,754.88 and in Frankfurt the DAX index fell 23.53 or 0.2% to 11,611.33.

In Paris, CAC 40 index rose 12.41 or 0.2% to 5,208.93.

adidas AG gained 0.7% to 75.04 after the Germany-based athletic and sports shoe maker reported total revenues in the first-half ending in June soared 16.1% to 7.99 billion or 6.88 billion in a year ago period.

Net profit in the period soared 10.5% from a year ago to 385 million compared to 348 million and diluted earnings per share jumped to 1.90 from 1.67.

The athletic and sports products maker said that it has completed the acquisition fitness tracking app maker Runtastic for about 70 million.

Aviva Plc gained 1.6% to 536.18 after the U.K.-based general and health insurance provider reported total revenues in the first-half ending in June declined 46.4% to 11.28 billion from 21.03 billion in a year ago period.

Profit in the period tumbled 36.8% from a year ago to 545 million compared to 863 million and diluted earnings per share slumped to 12.7 pence from 24.6 pence.

Deutsche Telekom AG slipped 1.7% to 16.98 after the Germany-based telecom company said total revenues in the first-half ending in June climbed 14.2% to 34.27 billion or 30.01 billion in a year ago period.

Net profit in the period plummeted 40.7% from a year ago to 1.50 billion compared to 2.53 billion and diluted earnings per share jumped to 0.33 from 0.57.

The company said T-Mobile U.S. lifted its forecast for new postpaid customers for the full-year to between 3.5 million and 3.9 million.

The T-Mobile is the third largest wireless carrier with a total number of subscribers reaching nearly 60 million.

Deutsche Post AG declined 3.3% to 16.98 after the Germany-based logistics services provider reported total revenues in the first-half ending in June jumped 8.1% to 29.47 billion or 27.26 billion in a year ago period.

Net profit in the period declined 14.7% from a year ago to 821 million compared to 963 million and diluted earnings per share slipped to 0.68 from 0.80.

As of June 30, the company said net debt doubled to 2.99 billion from 1.50 billion in the period ending in December 2014.

Metro AG soared 6.3% to Germany-based department store operator said sales in the nine-month ending in June fell 1.2% to 44.98 billion or 45.53 billion in a year ago period.

Net profit in the period slid 1.2% from a year ago to 158 million compared to 160 million and diluted earnings per share slipped to 0.38 from 0.36.

Separately, today the company agreed to acquire Singapore-based Classic Fine Foods Group, a leading Asian food service distributor for about $290 million plus an earn-out of up to $38 million.

Merck KGaA slid 0.2% to 95.19 after the Germany-based pharmaceutical company reported total revenues in the second-quarter ending in June climbed 14.4% to 3.22 billion or 2.82 billion in a year ago period.

Net profit in the period jumped 13.2% from a year ago to 343.4 million compared to 303.3 million and diluted earnings per share increased to 1.30 from 1.16.

Merck forecasted net sales for the year between 12.3 billion and 12.5 billion and earnings per share in the range of 4.60 to 4.80.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc