Börsipäev 30. juuli
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Pullid suutsid eile oma hoojooksu momentumit hoida ning venitada tõusu Euroopa ja USA aktsiaturgudel teise päeva peale, saades osaliselt tuge FOMC sõnumist. S&P 500 sulgus 0,7% kõrgemal, Euroopas aga lõpetas Stoxx 600 1,0% plusspoolel. Energiasektori aktsiad olid ühed suurimad võitjad tänu USA oodatust suuremale toornaftavarude langusele möödunud nädalal (-4,2mln barrelit vs prognoositud 134 tuhande barreli suurune kasv) ning USA naftatoodangu langusele 145 tuhande barreli võrra 9,4 miljonile barrelile (enim alates 2013.a oktobrist), mis lennutas WTI naftabarreli 1,7% kõrgemale 48,79 dollarile.
Ehkki kahepäevase istungi järel võttis FOMC positiivsema vaate USA majanduse suhtes, ei leidunud nende sõnumis selgeid märke, mis viitaks intressimäära tõstmisele septembris. Marginaalselt ehk tõenäosus pigem vähenes, kuna keskpanga sõnul tahetakse enne näha tööturu täiendavat paranemist ning olla veendunud, et inflatsioon liigub keskpikas perspektiivis tagasi 2% juurde. Tänase päeva ning septembri istungi vahele mahuvad kaks tööturu ja inflatsiooni raportit, millel saab olema kriitiline roll turuosaliste nägemuse kujundamisel.
FEDi sõnum aitas seedida oodatust pehmemaks jäänud USA majade pooleliolevaid müügitehinguid, mis prognoositud 0,9% kuise kasvu asemel näitas juunis hoopis -1,8% langust. Tegemist oli esimese kuise langusega käesoleval aastal, jäädes siiski maikuu taseme lähedale, mis märkis toona üle üheksa aasta kõrgeimat numbrit. Ettevatava indikaatorina viitab pooleliolevate müügitehingute indeks võimalusele, et olemasolevate majade müük võib järgneval kahel kuul mõnevõrra pehmeneda.
Liikudes tänase päeva majandusuudiste juurde, siis peamise tähelepanu all saab olema USA teise kvartali SKP näitaja, kuid teisele neljandikule tõmmatakse joon alla ka Hispaanias ja Rootsis. Täiendavat tähelepanu võiksid pälvida Saksamaa juuli tööturu statistika ning inflatsioon ja USA möödunud nädala töötu abiraha taotlused.
Ettevõtetest avaldavad majandustulemused teiste seas Colgate Palmolive, Procter & Gamble, L’Oreal, AstraZeneca, Alcatel-Lucent, Siemens, Nokia, Lufthansa, Deutsche Bank, Royal Bank of Scotland, Banco Santander, Anheuser-Busch, Renault, Fiat Chrysler, Rolls-Royce, LinkedIn, ConocoPhillips, Cigna, Royal Dutch Shell
10.00 Hispaania teise kvartali SKP
10.00 Hispaania inflatsioon (juuli esmane)
10.30 Rootsi teise kvartali SKP
10.55 Saksamaa töötute arvu muutus ja töötuse määr (juuli)
15.00 Saksamaa inflatsioon (juuli esmane näit)
15.30 USA teise kvartali SKP
15.30 USA esmased töötu abiraha taotlused -
Valik tänaseid tulemusi:
Diageo Sees Stronger Vol. Growth, Better Sales in FY16
• Diageo FY net sales GBP10.8b, est. GBP10.8b.
• FY organic net sales growth flat, est. 0.1%
• Oper. profit before exceptional items GBP3.07b, est. GBP3.12b
• Organic oper. profit ex-items growth up 1%, est. 0.9%
• EPS before exceptionals 88.8p, est. 90.4p
• Final div. 34.9, BDVD forecast 33p
• Diageo says in FY16 sees stronger vol. growth that will deliver an improved sales performance.
• As achieve productivity gains from F17 expects to deliver mid- single digit organic top line growth on a sustained basis and oper. margin expansion of 100bps over 3 yrs
• FY organic sales by region:
• North America down 1%, est. 0%
• Europe flat, est. -0.3%
• Africa up 6%, est. up 6.3%
• Latin America and Caribbean down 1%, est. -0.4%
• Asia Pacific down 2%, est. -5%
RBS Posts 2Q Net Profit; CET1 Ratio Rises to 12.3%
• RBS 2Q net profit GBP293m vs year earlier profit GBP230m; company compiled estimate was for a loss of GBP259m.
• Adj. operating profit EU1.8b; est GBP1.3b (prior GBP1.95b y/y)
• CET1 ratio 12.3% vs 11.5% end-March
• Takes GBP1.1b restructuring charge in 2Q
• Conduct, litigation costs GBP459m
Deutsche Bank 2Q Net Income EU796m; CET1 Ratio 11.4%
• Deutsche Bank 2Q net income EU796m, est. EU797m.
• Pretax EU1.2b; est. EU1.29b
• CET1 ratio 11.4%; est. 11.1%
• Litigation expenses EU1.2b, est EU550m
Outotec 2Q Sales Beats Estimates; Outlook Reiterated
• Outotec 2Q net sales EU311m vs est. EU300m.
• 2Q order intake EU395m vs EU380m year earlier
• 2Q Ebita ex. items EU16m vs EU4m y/y
• Keeps 2015 outlook; sees sales of ~EU1.2b-EU1.4b and Ebita, excluding one-time items, of ~5%-7%
Eni 2Q Adj. Net EU448m vs Est. EU469m; Div. EU0.40/Share
• 2Q adj. oper. profit EU1.5b vs est. EU1.52b.
• 2Q production 1.75mboe/d vs est. 1.68mboe/d; raises 2015 production growth target to >7% vs 5%
• Refining oper. profit EU105m vs loss year ago of EU219m
Euronext 2Q Ebitda, Rev. Advance; Year End Targets on Track
• 3rd party rev. increased by 11.9% to EU130.1m, Ebitda EU70.1m, margin 53.9% vs 46.3% y/y.
• EU500m rev. target, 53% Ebitda margin will be achieved by year-end
Infineon 3Q Sales, Segment Result Match Ests.; Specifies Outlook
• Infineon 3Q sales EU1.59b vs est. EU1.6b
• 3Q segment result EU245m vs est. EU246m
• 3Q net income EU109m
• Sees 4Q rev. growth of 1%, +/- 2ppt; segment result margin of 16% at midpoint of growth range
• Specifies outlook, sees FY rev. growth of 34%, segment result margin of ~15%; previously saw FY rev. growth of 36%, +/- 2ppt
Cap Gemini 1H Sales Beats; Raises 2015 Outlook
• 1H rev. EU5.61b vs EU5.10b; est. EU5.55b (5 analysts)
• 1H oper margin EU486m vs EU402m
• 1H oper margin 8.7% vs 7.9%
• 1H oper profit EU447m vs EU354m
• 1H profit EU290m vs EU240m
• Raises 2015 outlook on 1H results, IGate acquisition:
• Sees 2015 organic rev. growth of 12%’ saw at least 5%
• Sees 2015 operating margin 10.3%; saw 9.5%-9.8%
• Still sees 2015 organic free cash flow to exceed EU600m
Telefonica 2Q Oibda EU3.7b; Est. EU3.69b
• Telefonica increases 2015 revenue guidance to an increase of >9.5% vs >7% previously, adding GVT, DTS contributions
• Telefonica 2Q sales EU11.88b
• Telefonica 2Q net EU1.89b
Lufthansa 1H Adj. Ebit EU468m; Confirms FY Forecast
• Lufthansa 1H adj. Ebit EU468m vs EU178m y/y.
• 1H rev. EU15.4b vs EU14.2b
• 1H yields for passenger airlines rose by 2.4%, helped by weaker euro
• 2Q yields declined by 5.7% adjusted for FX
• 2Q group adj Ebit margin 7.6%
• Confirms outlook for adj Ebit of >EU1.5b this year, excluding strike impact
Sanofi 2Q Net Sales, Business EPS Beat Ests.; Keeps FY Forecast
• Co. still expects FY 2015 business EPS at constant FX to be stable to slightly growing vs 2014.
• Now sees FX having a 10% benefit on FY business EPS vs 12% previously
• 2Q net sales: EU9.38b vs est. EU8.98b
• 2Q business oper income: EU2.57b vs est. EU2.4b
• 2Q business EPS: EU1.41 vs est. EU1.32
• 2Q business net income: EU1.84b vs est. EU1.72b
Renault 1H Profit EU1.07b, Est. EU1.08b; Forecast Reiterated
• Renault 1H oper income EU1.07b, est. EU1.08b. Yr ago EU729m.
• Rev. EU22.2b, est. EU21.9b.
• Oper margin 4.8% vs 3.7% y/y
• Auto FCF negative EU95m
• Outlook: Reiterates 2015 forecast for higher registrations and revenues, higher group and automotive division operating margin, positive automotive operational FCF
• Sees global car demand growth ~1% in 2015, European growth at least 5%.
Alcatel-Lucent 2Q Sales Match Ests.; CEO to Depart Sept. 1
• Alcatel-Lucent 2Q sales EU3.45b vs est. EU3.45b.
• 2Q gross margin 34.8%
• 2Q adj. op. profit EU175m
• 2Q net loss EU54m
• Core networking unit rev. EU1.68b vs EU1.37b
• CEO Michel Combes to depart Sept. 1, Chairman Philippe Camus to become interim CEO responsible for closing Nokia deal
Banco Santander 2Q Net EU2.54B; Est. EU2.6B
• Santander 2q net EU2.54b vs average est. of EU2.6b in survey of 10 analysts.
• 2q NII EU8.28b vs EU8.04b in 1q
• CET1 fully-loaded 9.8% vs 9.7% in March
• 2q bad loans ratio 4.64% vs 4.85% in March
• 1h net EU4.26b vs EU2.76b a yr earlier
Air Liquide 1H Earnings Beat Estimates; 2015 Forecast Confirmed
• Air Liquide 1H operating income recurring EU1.41b, est. EU1.34b.
• 1H rev. EU8.12b, est. EU7.87b; +8.1% reported, +3.2% on comparable basis
• Gas & Services rev. +7.8% reported, +3.1% on comparable basis to EU7.34b
• Engineering & Technology rev. +11% on comparable basis
• Operating margin +70bps to 17.4%; strong performance driven mainly by low energy prices, good level of efficiency gains, which amounted to EU132m, in line with annual target of >EU250m
Nokia Networks 2Q Margin Improves; Net Beats, Sales Miss
• Nokia Networks reports 2Q adj. operating margin 11.5% vs 3.2% q/q.
• 2Q group sales EU3.21b vs est. EU3.32b
• 2Q group adj. EPS EU0.09 vs est. EU0.055
• 2Q group adj. net income EU355m vs est. EU218m
NETWORKS
• 2Q sales EU2.73b, adj. op. profit EU313m vs EU281m y/y
• Says telecom infrastructure market to remain challenging
• Says 24% higher net sales in China driven by global services, to lesser extent by mobile broadband
• North American sales gain of 16% driven by global services, particular strength in network implementation business; partially offset by lower sales in mobile broadband
• Keeps outlook, sees margin near midpoint of long-term range of 8-11%
HERE
• 2Q sales EU290m vs EU232m y/y
• Says strategic review at “an advanced stage”
• Keeps outlook, sees HERE FY adj. op. margin 9-12%
TECHNOLOGIES
• 2Q sales EU193m vs EU147m y/y
• Updates outlook, sees adj. op. expense in line w/ 2Q level, previously saw in line w/ 4Q 2014
AB InBev 2Q Organic Vols. Fell in North America, Europe
• Anheuser-Busch InBev 2Q U.S. adjusted sales to retailers down 2.2%; estimates its total market share, based on STRs, declined by ~55 bps in 2Q, and by ~50 bps in 1H.
• Still sees U.S. beer industry vols. improving
• Net debt $44.4b end-June vs $42.1b at yr-end
• Still sees Brazil rev. up by high to mid single digits
• Still sees continued industry vol. growth in Mexico
• Sees China beer industry vols. returning to growth in 2H
• Sees 2014 adj. effective tax rate 20%-22% vs 22%-24%
JCDecaux 1H Adj. Rev. Matches Est.; Sees 3Q In Line With 1H
• JCDecaux 1H adj. rev. rises 11.9% to EU1.5b; est. EU1.45b; 1H adj. organic rev. growth up 2.9%.
• 2Q adj. organic rev. growth up 2%
• Sees 3Q adj. organic rev. growth in line with 1H performance
• 1H adj. operating margin up 11.3% to EU285.7m
• 1H net income group share before impairment charge up 6.4% to EU78.6m
• Adj. free cash flow EU109.2m, up +7.8%
Siemens 3Q Industrial Profit Beats Estimates, Confirms Outlook
• Siemens replaces Peter Herweck, head of Process Industries and Drives unit, with Juergen Brandes.
• 3Q rev. EU18.8b, est. EU18.7b
• Profit industrial business EU1.82b, est. EU1.74b; margin 9.5% vs 10.1%
• Net income EU1.36b, est. EU1.02b
• Orders EU19.9b vs EU19.1b
• Industrial order backlog EU110b
• Restructuring charges EU274m
• Confirms FY 2015 forecast for EPS to rise at least 15%, industrial profit margin of 10%-11%, flat rev. on organic basis
Safran Raises Outlook on ‘Strong’ Civil Aftermarket Activity
• FY adj. op income to grow in “mid-teens” percentage, co. says in e-mailed statement.
• FY adj. rev to increase in high single digits
• 1H adj. net EU1.16b vs EU616m restated yr earlier
• 1H adj. rev EU8.4b vs EU7.2b yr earlier
• 1H adj. op income EU1.17b vs EU946m yr earlier
• 1H EPS EU2.80 vs EU1.48 yr earlier
Fresenius 2Q Rev. EU6.9b vs Est. EU6.8b
• 2Q net excluding items EU350m, +35% y/y, +22% in constant currency.
Fresenius Medical Care 2Q Net $241m, Up 3% Y/y
• Rev. $4.2b, up 9% y/y.; eps $0.79, up 2%
• Ebit $547m, down 2% y/y
• Co. confirms rev. to grow 5%-7% in 2015, 10%-12% at constant currency
• Net income expected to increase by 0%-5% in yr
• Co. expects to spend ~$1b on capital expenditures in 2015 and ~$400m on acquisitions
• Debt/Ebitda ratio expected to be ~3.0 by end of yr -
Hispaania SKP kasvas teises kvartalis QoQ ootuspäraselt 1,0%, aastatagusega võrreldes kiirenes kasvutempo 2,7% pealt 3,1% peale.
Hispaania inflatsioon aeglustus juulis 0,1pp võrra 0,0% peale, samas kui analüütikud prognoosisid hinnatõusu püsimist samal tasemel -
Rootsi keskpanga inflatsiooni jaht aitas riigi majandusel kasvada teises kasvada 3,0% võrreldes eelmise aasta sama ajaga. Analüütikud ootasid kasvutempo püsimist 2,5% peal.
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Töötute arv Saksamaal kasvas juulis üheksa tuhande võrra, vastupidiselt prognoositud langusele, kuid töötuse määra see ei mõjutanud
German Unemployment Change Jul: 9K (est -5K; rev prev 1K)
Unemployment Claims Rate SA Jul: 6.40% (est 6.40%; prev 6.40%) -
Tere Erko,
Kas on infot, millal Kreeka börs taas avaneb? See pidi juba sel teisipäeval juhtuma aga siiani ikka kinni.
Ette tänades. -
mk27
Tere Erko,
Kas on infot, millal Kreeka börs taas avaneb? See pidi juba sel teisipäeval juhtuma aga siiani ikka kinni.
Ette tänades.
Euroopa Keskpangalt on luba olemas aga tõenäoliselt lükkub avamine börsi pressiesindaja sõnul järgmisesse nädalasse, kuna osad tehnilised küsimused on veel lahendamata.
Greece's stock market will not reopen on Thursday and may not open on Friday either due to technical issues at local banks, a spokeswoman for the Athens Stock Exchange said on Wednesday.
"The stock market will not open tomorrow and it is unlikely to open on Friday. The Greek banks need to resolve some IT issues regarding the restrictions," she said. -
Gapping up
In reaction to strong earnings/guidance: LPSN +16.7%, WSTL +15.8%, FORM +10.9%, SKX +10.6%, HOLX +9.1%, VNDA +8.7%, OTEX +8.5%, PEGA +7.3%, NTRI +7.2%, ANIK +6.7%, TER +6.7%, RKUS +6.6%, NOK +6.5%, WDC +6.3%, ALU +5.9%, EPE +5.6%, HDSN +5.5%, APD +5.1%, CWST +4.9%, NE +4.7%, PPC +4.4%, NXPI +4.3%, RDS.A +4.1%, EROC +3.9%, SSNC +3.8%, KGC +3.4%, ATNI +3.1%, DEPO +2.8%, (also DepoMed announces Board rejection of the revised, highly conditional, unsolicited and non-binding proposal from Horizon Pharma), VRTX +2.3%, ARR +2.2%, SWK +2.2%, WYNN +2.1%, PODD +1.9%, SCTY +1.7%, SC +1.6%, ORLY +1.4%, CI +1.4%, INUV +1.3%, SU +1.2%, WMGI +1%, EURN +1%, NICE +1%, EHTH +0.9%, POT +0.9%
Select oil/gas related names showing strength: TOT +1.7%, BP +1.6%, STO +1.3%
Other news: UNIS +28.9% (announced the introduction of the Imperium platform of instant patch pumps for insulin; announced $45 mln equity purchase agreement with Lincoln Park Capital and $25 mln at-the-market facility with Cantor Fitzgerald), SGYP +21.2% (announces positive top-line results from its pivotal phase 3 clinical trial, evaluating the efficacy and safety of two different plecanatide treatment doses), ASND +16.3% (announces positive top-line results from its Phase 2 pediatric study of its TransCon Growth Hormone), IMNP +5.5% ( announces securing up to $21.5 million through two financing agreements), PPC +4.4% (announced Board approval for a new $150 million share repurchase program; co also reported earnings), BDBD +4.2% (Engaged Capital discloses 9.6% active stake in 13D filing; has engaged with management), LDOS +3.1% (late move higher on potential Pentagon contract win), EXPR +3% (to replace Associated Estates Realty (AEC) in the S&P SmallCap 600), X +3% (cont strength), DEPO +2% (announced Board rejection of the revised, unsolicited and non-binding proposal from Horizon Pharma; co also reported earnings), JBL +1.5% ( announces Board authorization for up to $100 million in share repurchases), GLPG +1.4% (co's selective JAK1 inhibitor filgotinib meets key efficacy endpoints, shows ACR70 responses up to 39%, and maintains safety profile after 24 weeks of treatment in DARWIN 1 Phase 2B study), BIDU +1.2% (announces $1 bln share repurchase program over the next 12 months), CS +1.1% (in symp with DB results)
Analyst comments: AKS +5.2% (upgraded to Overweight from Neutral at JP Morgan), ANGI +3.2% (upgraded to Market Perform from Under Perform at Northland Capital), LUV +1.4% (upgraded to Overweight from Neutral at JP Morgan), ORCL +0.8% (upgraded to Buy from Hold at Jefferies)
Gapping down
In reaction to disappointing earnings/guidance: SSYS -21.2%, WFM -13.5%, QRVO -13.4%, FMI -13%, FOE -12.1%, LOCK -9.5%, LINE -8.2%, THRM -6.8%, CAVM -6.3%, VAR -5.4%, PEIX -4.8%, WLL -4.2%, IXYS -4%, SPRT -3.6%, WPRT -3.5%, ORC -3.1%, LQ -2.8%, FB -2.6%, FISV -2.2%, ARII -2%, HLS -1.9%, TTEK -1.9%, AAC -1.7%, (issues a response to a grand jury indictment, related to its investigation by the California Department of Justice), STFC -1.7%, YNDX -1.4%, NOW -1.3%, AMC -1.2%, MTGE -1.1%, CMPR -1.1%, CMO -1%, CLD -0.9%, MAR -0.8%, TWC -0.8%
M&A news: NCR -6.2% (PE firm Thoma Bravo will end efforts to buyout NCR, according to NY Post)
Select metals/mining stocks trading lower: AU -3.2%, GFI -2.9%, GDX -2.4%, ABX -2.2%, PAAS -1.7%, GOLD -1.6%, AG -1.6%, MT -1.5%, NEM -1.5%, GG -1.4%
Other news: GNCA -8.2% ( announces a public offering of common stock; size and terms not disclosed), DDD -5.9% (in symp with SSYS earnings), NVIV -3.7% (disclosed entry into a Sales Agreement with Cowen to sell up to $50 mln shares of its common stock), AAC -1.7% (issued a response to a grand jury indictment, related to its investigation by the California Department of Justice; co also reported earnings), AMAG -1.5% (announced a public offering of $200 mln of common stock), CP -1.3% (announced $800 mln debt offering)
Allikas:Briefing.com -
USA teise kvartali SKP kvartaalne annualiseeritud kasv oli 2,3% vs oodatud 2,5% aga esimese kvartali muutus revideeriti baasina tugevamaks -0,2% pealt 0,6% peale. Möödunud nädala töötu abiraha taotlused osutusid oodatust paremaks:
US Initial Jobless Claims Q2 A: 267K (est 270K ; prev 255K), -
Aastatagusega võrreldes kasvas USA majandus teises kvartalis 2,3%
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LNKD teatab oodatust parematest tulemustest:
LinkedIn prelim $0.55 vs $0.30 Capital IQ Consensus Estimate; revs $712 mln vs $680.52 mln Capital IQ Consensus Estimate
LNKD +14% @261 -
Nelli Janson
LNKD teatab oodatust parematest tulemustest:
LinkedIn prelim $0.55 vs $0.30 Capital IQ Consensus Estimate; revs $712 mln vs $680.52 mln Capital IQ Consensus Estimate
LNKD +14% @261
Tugev prognoos ka:
LinkedIn sees FY15 $2.19 vs $1.93 Capital IQ Consensus Estimate; sees revs $2.94 bln vs $2.91 bln Capital IQ Consensus Estimate
