Bayer, E.ON, Hugo Boss, Postbank, Sky Deutschland: German Equity Preview
The following is a list of companies whose shares may have unusual price changes in Germany. Stock symbols are in parentheses and share prices are from the previous close.
DAX Index futures expiring in June rose 0.3 percent to 6,110 as of 8:14 a.m. in Frankfurt. The DAX index fell 1.2 percent to 6,084.34 yesterday.
Aixtron AG (AIXA GY)): The German maker of equipment used to produce LED screens raised its sales guidance for 2010. The company forecast revenue of 650 million euros ($859 million) to 700 million euros and an Ebit margin of 30 percent. The shares lost 4.3 percent to 26.60 euros.
BASF SE (BAS GY): The world’s biggest chemical company reported first-quarter profit that beat analysts’ estimates, boosted by recovering demand for plastics and products used in the automotive and electronics industries. The shares slipped 1.5 percent to 46.40 euros.
Bayer AG (BAYN GY): Germany’s largest drugmaker said first- quarter profit rose 63 percent as higher demand for the plastics it supplies to the automotive and manufacturing industries offset a winter slowdown for crop chemicals. The company raised its growth forecast for the year. The shares dropped 0.9 percent to 50.15 euros.
Deutsche Postbank AG (DPB GY): The consumer lender partly owned by Deutsche Bank AG posted a pretax profit in the first quarter, after a loss a year earlier, and maintained its full- year profit forecast. The shares fell 1.3 percent to 25.55 euros.
E.ON AG (EOAN GY): PPL Corp., the owner of Pennsylvania’s second-largest utility, agreed to buy E.ON’s U.S. electricity and natural-gas unit for $6.7 billion in cash to add customers and generation capacity. The stock decreased 0.1 percent to 27.73 euros.
Fielmann AG (FIE GY): Europe’s largest chain of optical stores said first-quarter profit rose 10.5 percent as customers bought more discount eyeglasses. The shares gained 0.4 percent to 57.24 euros.
HCI Capital AG (HXCI GY): The fund manager said MPC Muenchmeyer Petersen & Co. GmbH doesn’t plan to buy any more voting rights for the next 12 months. HCI Capital lost 3.6 percent to 1.62 euros.
Hugo Boss AG (BOS3 GY): Germany’s largest clothes maker posted revenue of 444 million euros in the first quarter after 484 million euros a year earlier. The shares slid 5.7 percent to 28.93 euros.
Jungheinrich AG (JUN3 GY): Germany’s second-largest maker of forklifts was raised to “buy” from “neutral” at Goldman Sachs Group Inc. The shares slumped 6.5 percent to 17.49 euros.
Kabel Deutschland Holding AG (KD8 GY): The country’s largest cable company that started trading March 22 was rated “buy” in new coverage at UBS AG and Deutsche Bank. Morgan Stanley and JPMorgan Chase & Co. rated the stock “overweight.” The shares dropped 1.3 percent to 22.66 euros.
Praktiker AG (PRA GY): The home-improvement retailer said its first-quarter net loss widened to 37.5 million euros from 36.8 million euros as net sales declined 6 percent. The shares sank 6.4 percent to 7.36 euros.
Siemens AG (SIE GY): Europe’s largest engineering company raised its earnings target for this year after the company cut costs and demand rebounded for light bulbs and factory automation equipment. The shares dropped 1.4 percent to 71.98 euros.
Singulus Technologies AG (SNG GY): The maker of machines that produce compact discs and DVDs said it expects to break even on an operating profit level in 2010. The company posted a first-quarter loss before interest and taxes of 5.5 million euros. The shares tumbled 4.2 percent to 6.29 euros.
Sky Deutschland AG (SKYD GY): The pay-television operator controlled by Rupert Murdoch’s News Corp. has presented the German Football League, known as DFL, a new bank guarantee for the next soccer season before the deadline on May 15, Boersen- Zeitung reported. The shares sank 6.1 percent to 1.59 euros.
Takkt AG (TTK GY): The business-to-business mail order company said first-quarter earnings before interest and taxes rose 4.8 percent to 23.9 million euros. The shares declined 1.5 percent to 8.35 euros.
Wacker Chemie AG (WCH GY): The chemical maker’s first- quarter net income rose to 105.9 million euros from 5.5 million euros as revenue gained. The shares retreated 2 percent to 109.75 euros.