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Market Update

Gemalto Net Surges on Flat Revenues, Vivendi Profit Plunges 54%

Author: Sarla Buch
Last Update: 12:45 PM ET August 26 2016

4:00 PM Frankfurt Gemalto profit surged on flat revenues. The Restaurant Group net swung to a loss and plans to sell or close 33 underperforming sites and impair the asset value of a further 29 sites. Segro agreed to sell Heston & Airlinks Indl Estate for 79.5 million. Vivendi profit plunged 54%.

Market indexes in the euro zone trimmed weekly losses as investors focused on additional batch corporate earnings.

In London trading, FTSE 100 index jumped 27.29 or 0.4% to 6,845.33 and in Frankfurt the DAX index gained 46.71 0.4% to 10,575.28.

In Paris, CAC 40 index advanced 38.60 or 0.9% to 4,445.21.

For the week, FTSE 100 index fell 0.2%, the DAX index rose 0.3% and the CAC 40 index increased 1%.

Gemalto NV dropped 2.4% to 16.21 after the Netherlands-based and digital security services provider said revenues in the first-half ending in June were flat from a year ago to 1.5 billion.

Net income in the period surged from a year ago to 58.5 million compared to the 13.2 million and diluted earnings per share jumped to 0.65 from 0.15.

The Restaurant Group Plc jumped 3.1% to 420 pence after the U.K.-based restaurants and pubs operator reported revenues in the first-half ending on July 3 advanced 3.4% from a year ago to 358.7 million.

Comparable restaurants sales in the period declined 3.9%.

Net loss in the period swung to a loss from a year ago to 22.4 million compared to the profit of 28.7 million and diluted loss per share swung to 11.15 pence from diluted earnings per share of 14.25 pence.

The restaurants and pubs operator said exceptional charge of 59.1 million reflected prospective site closures and 29 site asset value impairments and 33 underperforming sites identified for closure/sale.

However, the Restaurant Group forecasted operating pre-tax profit in the full-year between 74 million and 80 million.

Segro Plc fell 0.3% to 444.60 pence after the U.K.-based warehouse and industrial buildings developer agreed to sell its multi-let Heston & Airlinks Industrial Estate, near north-east of Heathrow Airport to Capital Industrial for about 79.5 million.

The transaction is expected by the end of September.

Vivendi SA slipped 1.7% to 17.28 after the France-based media and pay-television services provider reported revenues in the first-half ending in June fell 1% from a year ago to 5.04 billion.

Net income in the period plunged 54.2% from a year ago to 911 million compared to the 1.99 billion and diluted earnings per share slumped to 0.71 from 1.46.

Vivendi plans to cost reduction of about 300 million or $338.58 million from its domestic pay-TV unit Canal Plus and to reach breakeven in 2018.

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