dealingfloor.com

Due to personal circumstances we’ve been unable to post this week. We’ll be up & running again as of next Monday. Sorry for the incovenience — Dealingfloor.com

Share This

+ ALCATEL PRICE EST. RAISED 12% TO EU14.50 AT UBS
+ RIO TINTO RAISED TO `BUY’ FROM `HOLD’ AT CITIGROUP
+ ALSTOM PRICE ESTIMATE RAISED TO EU60 FROM EU48 AT JPMORGAN
+ DAIMLERCHRYSLER PRICE EST. RAISED TO EU50 AT MORGAN STANLEY
+ HOCHTIEF RAISED TO `NEUTRAL’ VS. `UNDERWEIGHT’ AT HSBC
+ DAIMLERCHRYSLER PRICE EST. RAISED 6% TO EU53 AT LEHMAN
+ XSTRATA PRICE EST. RAISED 22% TO 2,200P AT CITIGROUP
+ SHIRE PRICE EST. RAISED 4.8% TO 1,100P AT UBS
+ WPP PRICE EST. RAISED 8.6% TO 820P AT UBS

- SCHERING CUT TO `PEER PERFORM’ FROM `OUTPERFORM’ AT BEAR
- OMV CUT TO `UNDERWEIGHT’ FROM `NEUTRAL’ AT JPMORGAN
- GLOBAL BANK STOCKS CUT TO `UNDERWEIGHT’ AT LEHMAN BROTHERS
- CNOOC CUT TO `HOLD’ FROM `BUY’ AT DEUTSCHE BANK AFTER EARNINGS

Share This

** EUROPEAN MARKETS **
S&P future -0,02%; Bund future 0,04%; Crude future 64,28; €/$ 1,2045; Gold 560

** HEADLINES **

- Zurich Might Pay More Than $100 Million to Settle U.S. Probes, People Say
- European Stocks Head for Biggest Gain in Nine Quarters Amid Takeover Boom
- Vodafone’s Sarin, Free of Predecessor Gent, Exits Japan; U.S. May Be Next
- French Executives Anticipate Accelerating Growth, Economists Survey Shows
- Alcatel, Lucent Combination Plan May Spark More Phone-Equipment Mergers

** IN PLAY TODAY **

- Arcelor: Mittal is still interested in a friendly takeover of Arcelor and
would prefer it to a hostile bid. Arcelor’s CEO has failed to respond to
Mittal’s offers (Der Spiegel citing an interview with Mittal).

- Alcatel and Lucent Technologies planned merger will spark a review from the US
government and Congress on national security grounds (FT). In other news,
Ericsson may consider a bid for Lucent to thwart the merger (Times). Alcatel’s
target price raised 12% to E14.50 by UBS.

- Total may move for the $3bln joint venture with India’s Hindustan Petroleum
after BP pulled out of the bid (Business).

- Continental is interested in buying parts in Delphi and Dana Corp in bid to
strengthen its position in the US and Asia and has E4bln at its disposal for
acquisitions (Die Welt).

- Infineon Technologies will spin off its DRAM memory chip business on May 1,
earlier than planned (Welt am Sonntag).

- Aviva, which itself withdrew its offer for Prudential is now the takeover
target of Axa and AIG, who may be interested in either of the companies (FT).

- ING Groep may sell off its UK stockbroking unit Williams de Broe and has
received some interest from private equity groups such as Alchemy Partners,
according to a company spokeswoman.

- A spit up of Ahold is only a matter of time according to former board member
(FD).

- Abn Amro denied rumours it will be merging with BBVA.

Share This

** ASIAN MARKETS **
Nikkei 0,54%; Kospi 0,64%; HSI 0,13%; Taiwan 0,71%; China -0,49%; India 1,07%;
Thailand 0,03%; Australia 0,87%

** HEADLINES **

- Asian Stocks Advance, Led by Exporters, Honda; Hyundai Motor, Kia Decline
- Tattersall’s Agrees to Acquire Wagering Company Unitab for $1.3 Billion
- Taiwan’s Fuhwa Financial to Revive Merger to Access $827 Million Capital
- Australian Stock Exchange Agrees to Buy Futures Exchange for $1.6 Billion
- Nomura, Poised for Record Fiscal Year Earnings, Can’t Catch Goldman, UBS
- Japan’s Tankan Business Confidence Index Probably Rose for Fourth Quarter
- BHP Billiton, Rio Tinto Face Pressure by China to Cap Iron Ore Price Rise
- Malaysian Air Expects to Cut Costs by $154 Million This Year to Stem Loss
- Hyundai Motor, Affiliates Shares Fall Amid Government Probe Over Lobbying
- Asian Stock Rally Slows for Second Quarter as Taiwan, South Korea Decline

Share This

** HEADLINES **

- Morgan Stanley’s Falling Merger Fees Ranking Isn’t a Trend, John Mack Says
- Consumer Confidence, Growth Wanes as Fed Nears Last Interest-Rate Increase
- Dollar May Drop as Traders Speculate on Fewer Fed Increases, Survey Shows
- U.S. Stocks Stall Near May 2001 High; TXU, Vornado Realty Lead Decliners
- Ten-Year U.S. Treasuries Are Little Changed as Traders Await Rate News
- Alcatel Plan to Buy Lucent Will Trigger U.S. Security Review, FT Reports
- Sealy Seeks to Raise $429.3 Million in IPO of World’s Biggest Bed Maker
- Universal’s `Inside Man’ Is the Top Weekend Film With $29 Million in Sales

- Gold May Rise as Investors Seek Hedge Against Dollar Decline, Survey Says
- Silver Rises Most Since Hunts’ Market Play in 1979; Gain for Bill Gates
- U.S. Natural-Gas Prices Decline as Traders Focus on High Stored Supplies
- Wheat Falls as Rains May Revive Crops After Drought in U.S. Great Plains
- White Sugar Heads for First Weekly Gain in Four in London After Cyclone
- Mittal and Arcelor Are Competing for Brazil’s CSN, Business Reports

** IN PLAY TODAY **
All quiet today from both the macro as well as the earnings front.

Share This

Share This

- Hutchison Whampoa Ltd. said 2005 profit rose to HK$14.3 billion ($1.84 billion), better than analysts’
estimates. Net income at Hutchison rose to HK$14.3 billion ($1.84 billion), or HK$3.36 per share, from a restated HK$13 billion, or HK$3.04, in 2004, the telecommunications, ports, retail and oil company said today in a statement. The result is better than the HK$13.9 billion average forecast of 12 analysts’ estimates in a Thomson Financial survey.

Share This

+ TELEFONICA RAISED TO `BUY’ FROM `HOLD’ AT CITIGROUP
+ EASYJET PRICE EST. RAISED TO 400P FROM 204P AT CREDIT SUISSE
+ SANOFI PRICE ESTIMATE RAISED 4.4% TO EU94 AT ING
+ MORGAN STANLEY PRICE ESTIMATE RAISED 4.7% TO $67 AT UBS
+ COMMERZBANK PRICE EST. RAISED TO EU38 FROM EU28.50 AT UBS
+ COMMERZBANK RAISED TO `BUY’ FROM `NEUTRAL’ AT UBS

- WOOLWORTHS CUT TO `SELL’ FROM `HOLD’ AT DEUTSCHE BANK
- EMC SHARES CUT TO `NEUTRAL’ FROM `OVERWEIGHT’ AT JPMORGAN

Share This

** EUROPEAN MARKETS **
S&P future -0,02%; Bund future 0,03%; Crude future 62,5; €/$ 1,20605; Gold
549,78

** HEADLINES **

- EU Leaders Set for Clash at Summit Over Protectionism in Energy Industry
- French Economic Growth Accelerating as Unemployment Declines, Insee Says
- Turkey’s Central Bank Likely to Leave Interest Rate on Hold, Survey Shows
- Crude Oil Rises on Concern Demand May Strain U.S. Supplies of Gasoline

** IN PLAY TODAY **

- Pernod Ricard reported a 51% hike in 1H net income to E488m (E401m expected),
including one time gain of E90m, helped by last year’s acquisition of rival
Allied Domecq. The company already unveiled 1H revenue of E3.27bln, representing
organic growth of 4.5%. The group forecasts its EPS growth to be at the top of
the 10%-15% range .

- Hermes International posted a rise in FY net income to E247m (E250m expected)
compared to E214.5m in 2004 on previously announced sales of E1.43bln against
E1.3bln last year, spurred by Japanese sales.

- Lufthansa posted a rise in FY net profit to E453m (E497.5m expected) from
E404m. 4Q net income fell 85% to E37m (E81.5m expected). The group raised its
dividend to E0.50 from E0.30.

- Enel reported a 48% rise in FY net income to E3.9bln (E3.84bln expected). The
group targets “improved” results for 2006 and an average return on capital
invested of 17% in 2007. In other news, a Suez takeover offer was not discussed
yesterday at a meeting, according to news agency Radiocor.

- Roche Holding and GlaxoSmithKline received a combined order for 6m influenza
treatments from the US to increase the national stockpile to 26m in preparation
of a possible pandemic.

- Swatch Group posted FY 2005 net income of CHF621m (CHF626m expected). The
group reported a FY operating margin of 17.1%, remains optimistic for its 2006
outlook.

Share This

** US MARKETS **
Dow 0,73%; Nasdaq 0,4%; S&P 0,6%; Soxx 0,07%; Russel2k 1,19%; DJAIG -0,55%; 10yr
Bond 0,03%; 10yr Yield 4,7%; Crude future 62,5; Gold 549,78

| Healthcare 1,05%| Industrials 0,92%| Telecom 0,86%| Financials 0,72%|
Materials 0,72%| Utilities 0,69%| ConsStaples 0,55%| Energy 0,54%| ConsDisc
0,28%| Technology 0%

** ASIAN MARKETS **
Nikkei -0,04%; Kospi 0,19%; HSI 0,34%; Taiwan -0,42%; China 0,09%; India -0,26%;
Thailand 0,94%; Australia 0,42%

** HEADLINES **
- Lear Corp., Dura, Other U.S. Auto-Parts Makers May Collapse, Analysts Say
- Stock Performance, Worst Since Nixon, Undercuts Bush’s `Ownership Society’
- Home Resales in U.S. Slowed in February for Sixth Month, Economists Say
- New England’s $1 Billion Ski Industry Squeezed by Fuel Costs, Warm Winter
- U.S. Treasuries May Decline on Speculation Report to Show Faster Growth
- Yen Erases Gain As BOJ’s Nakahara Damps Optimism for Increase in Zero Rate

- Japan’s Imports Gain Most in a Decade in February, Narrowing Trade Surplus
- Kookmin Agrees to Pay $7.2 Billion for Korea Exchange Stake, People Say
- Hermes 2005 Profit Rises 15 Percent After Japanese Recovery Lifts Demand
- Cosco Pacific’s Second-Half Profit Rises 5.9 Percent on China Cargo Growth
- Japan Won’t Give Up Iran Oilfield Project After U.S. Urges Halt in Venture
- Malaysian Central Bank Governor Sees No `Secondary Pressures’ on Inflation
- Singapore’s Private Banking Industry Grows as Low Taxes Lure Millionaires

** US AFTER HOURS **

- Adobe (-3.88% after market) delivered Q1earnings of $0.32 per share, excluding
non-recurring items, $0.03 ahead of the Reuters Estimates consensus. Revenues
rose 38.6% year/year to $655.5 mln vs. the $649 mln consensus. For Q2, the co.
foresees EPS of $0.30-0.32 vs. the $0.32 consensus, on revs of $640-670 mln vs.
the $675.59 mln consensus. Adobe reaffirmed its guidance for FY06 — estimating
revs of $2.7 bln vs. the $2.72 bln consensus.

** IN PLAY TODAY **

Thursday’s calendar features the latest Initial Claims data, due out at 14:30
CET, as well as the February Existing Homes report, due out at 16:00 CET. On
the earnings front, there are a handful of noteworthy companies slated to
release results. Palm is amongst the companies scheduled to report after the
bell.

Share This