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Market Update

Heidelberger Net Loss Widen, Sky Net Surge; Glaxo Net Tumbles

Author: Nigel Thomas
Last Update: 11:16 AM ET February 04 2015

4:00 PM Frankfurt Glaxo profit tumbled 58.9% to 1.03 billion on 10% decrease in revenues. Heidelberger net loss widened to 15.6 million and lowered sales outlook. Osram Licht net swung to a loss of 39 million but revenues jumped 5%. Sky net surged 165% to 1.1 billion. Syngenta net fell 2%.

In London trading, FTSE 100 index slipped 0.8% or 56.06 to 6,815.74 and in Frankfurt the DAX index fell 0.3% or 34.43 to 10,856.52.

In Paris, CAC 40 index slid 0.2% or 11.85 to 4,666.05.

GlaxoSmithKline Plc gained 0.5% to 1,460.50 pence after the U.K.-based healthcare company said group revenues in the fourth-quarter ending in December declined 10.4% to 6.19 billion from 6.91 billion a year ago period.

Profit in the quarter tumbled 58.9% from a year ago to 1.03 billion compared to 2.51 billion and diluted earnings per share dropped to 21.3 pence from 50.4 pence.

Heidelberger Druckmaschinen AG plunged 6.8% to 2 after the Germany-based printing machines maker reported group sales in the third-quarter ending in December declined 5.4% to 556.22 million from 587.91 million a year ago period.

Net loss in the quarter widened from a year ago to 15.58 million compared to 12.99 million and loss per share increased to 0.22 from 0.03.

Heidelberg forecasted sales for the year to decline of about 5%.

Osram Licht AG gained 1.2% to 42.80 after the Germany-based lighting systems maker said revenues in the first-quarter ending in December jumped 5% to 1.39 billion from 1.33 billion a year ago period.

Net in the quarter swung to a loss from a year ago to 39 million compared to profit of 68 million and loss per share swung to a 0.40 from earnings per share of 0.63.

Sky Plc increased 1.9% to 961.62 pence after the U.K.-based pay television service provider reported revenues in the first-half ending in December soared 17% to 4.30 billion from 3.67 billion a year ago period.

Net profit in period surged 165.2% from a year ago to 1.09 billion compared to 411 million and diluted earnings per share increased to 64.5 pence from 26 pence.

Syngenta AG climbed 3.5% to 310.70 Swiss francs after the Switzerland-based agriculture product maker said sales in the year increased 3% to $15.13 billion from $14.69 billion a year ago period.

Net income in the year dropped 2% from a year ago to $1.62 billion compared to $1.64 billion and earnings per share rose to $19.42 from $19.30.

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