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Market Update

Henkel and Alstom Show Signs of Strength; Vodafone Revised Estimate Higher


Author: Sarla Buch
ticker.com
Last Update: 2:38 AM EST November 14 2017

4:00 PM Frankfurt Alstom reaffirmed fiscal outlook and highlighted stable order book. EDF confirmed to sell its Polish assets. Henkel reported strong performance. Vodafone operating profit hurt from pricing war and new taxes but telecom operator sounded optimistic note. United Internet profit jumped.

In London trading, FTSE 100 index edged up 4.60 to 7,419.84 and in Frankfurt the DAX index decreased 70.05 or 0.5% to 13,004.56.

In Paris, CAC 40 index dropped 38.82 or 0.7% to 5,302.81.

Alstom SA soared 4% to 34.85 after France-based rail transportation services provider reported revenues in the first-half ending in September jumped 5% from a year ago to 3.8 billion.

Net profit in the period surged 66.4% to 213 million from 128 million in a year ago nine-month period.

Alstom said sales in Europe, the Americas and Asia/Pecific soared 51%, 19% and 12% respectively.

Alstom said orders received in the period plunged 49% to 3.2 billion from a year ago period and order backlog dropped 2% to 32.7 billion.

Alstom reaffirmed fiscal 2020 operating profit margin growth of about 7% and sales of about 5%.

Electricite de France SA advanced 2% to 10.73 after France-based electricity producer, marketer and distributor said that it had finalized the sale of its Polish assets to PGE Polska Grupa Energetyczna SA for about 1.4 billion or $1.63 billion and reduce net debt by around 1 billion.

Henkel AG & Co KGaA declined 4.6% to 115.40 after Germany-based consumer and industrial products maker reported revenues in the nine-month ending in September jumped 9.3% from a year ago to 15.1 billion.

Net profit in the period soared 10% to 1.9 billion from 1.8 billion in a year ago nine-month period and diluted earnings per share advanced to 4.50 from 4.09.

Henkel estimated fiscal 2017 group sales growth between 2% and 4% earnings per preferred share to increase of about 9%.

Sonova Holding AG slipped 0.9% to 167.20 Swiss francs after the Switzerland-based hearing instruments maker said revenues in the first-half ending in September surged 16.9% from a year ago to 1.3 billion francs.

Operating profit in the period jumped 19% to 233.7 million francs from 195.8 million francs in a year ago nine-month and earnings per share increased 2.64 francs from 2.29 francs.

Sonoba reaffirmed fiscal 2017 sales to grow in the range of 10% to 12% and operating profit to increase in the range of 10% to 14%.

Vodafone Group Plc jumped 5.4% to 227.60 pence after the U.K.-based mobile phone services provider reported revenues in the nine-month ending in September declined 4.1% from a year ago to 23.1 billion.

Net in the period swung to profit 1.2 billion from a loss of 5 billion in a year ago period and diluted earnings per share swung to 4.02 from diluted loss per share of 18.32.

Vodafone said operating profit tumbled 39% after competition price war and new taxes structures.

The mobile services provider lifted full-year operating profit growth of about 10% or in the range of 14.75 billion to 14.95 billion from the earlier estimate of 4% to 8%.

""""It''s the first time we have raised Vodafone''s organic EBITDA guidance in recent history,"""" said chied executive officer Vittorio Colao.

United Internet AG jumped 3.9% to 54.95 after Germany-based internet service provider reported revenues in the nine-month ending in September increased 6.4% from a year ago to 3 billion.

Operating profit in the period soared 12% to 684.1 million from 610.6 million in a year ago nine-month.

Internet service provider forecasted fiscal 2017 sales of about 4.2 billion and operating profit between 970 million and 1 billion.

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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