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Market Update

Comcast Bids 22 B for Sky, Standard Chartered Loan Impairments Declines 50%


Author: Sarla Buch
ticker.com
Last Update: 10:17 AM EST February 27 2018

4:00 PM Frankfurt Aixtron forecasted higher revenues and profit growth in fiscal 2018. Fresenius forecasted strong 2018 growth. Standard Chartered loan impairments declined 50%. Comcast said offered 22 billion to buy the U.K.-based Sky.

In London trading, FTSE 100 index rose 14.68 or 0.2% to 7,304.26 and in Frankfurt the DAX index fell 32.18 or 0.3% to 12,492.10.

In Paris, CAC 40 index edged up 1.54 to 5,345.79.

Aixtron SE jumped 4.7% to 15.45 after Germany-based electronic and opto-electronic equipment maker said revenues in the year ending in December soared 17% from a year ago to 230.4 million.

Net in the year swung to profit 6.5 million from a loss of 24 million in a year ago period and diluted earnings per share swung to 0.06 from diluted loss per share of 0.22.

Aixtron said gross profit and margin in the year significantly improved to 74 million or 32% from a year ago.

The opto-electronic equipment maker forecasted fiscal 2018 revenues and total orders in a range between 230 million and 260 million and gross margin between 35% and 40% and operating profit in the range of 5% to 10%.

Fresenius SE & Co KGaA advanced 2.7% to 66.80 after Germany-based healthcare services provider reported revenues in the year ending in December jumped 7% from a year ago to 17.8 billion.

Net income in the year surged 11.9% to 1.3 billion from 1.1 billion in a year ago period and diluted earnings per share advanced to 4.17 from 3.74.

Fresenius said operating profit in the year fell 2% to 2.4 billion as revenues in the health care services business soared 10% to 14.5 billion and revenues in the health care products segment jumped 7% to 3.3 billion.

The healthcare services provider estimated fiscal 2018 revenue growth of 8% and net income to increase between 13% and 15% compared to fiscal 2017.

Standard Chartered Plc slipped 1.5% to 816.30 pence after the U.K.-based banking service provider reported revenues in the year ending in December surged 10.7% from a year ago to $14.4 billion.

Net in the year swung to profit $1.3 billion from a loss of $191 million in a year ago period and diluted earnings per share swung to 23.3 cents from diluted loss per share of 14.5 cents.

The bank said loan impairments in the fiscal 2017 declined 50% to $1.4 billion from the $2.8 billion in a year ago period.

SKY Plc surged 21.2% to 1,339.53 pence after the U.K.-based broadcasting services provider today received cash proposal from the U.S.-based Comcast Corporation for 12.50 per share or about 22 billion or $31 billion, representing 16% higher than existing offer from Rupert Murdoch controlled 21st Century Fox.

Sky said since no firm offer has been made at this point and advised shareholders to take no action.

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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