Hamburger Hafen, Q-Cells, Salzgitter, Medion, Solon: 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 December slumped 1.2 percent to 6,655 as of 8:40 a.m. in Frankfurt. The benchmark DAX Index added 0.1 percent to 6,723.41 yesterday.
Brenntag AG (BNR GY): The chemicals distributor owned by BC Partners Ltd. was cut to “hold” from “buy” at Royal Bank of Scotland Group Plc. The shares declined 3.5 percent to 65.44 euros.
Deutsche Postbank AG (DPB GY): The retail lender being taken over by Deutsche Bank AG was cut to “neutral” from “buy” at UBS AG. HSBC Holdings Plc downgraded the shares to “underweight” from “neutral.” The stock rose 0.1 percent to 25.12 euros.
Hamburger Hafen und Logistik AG (HHFA GY): The main operator of Germany’s biggest port forecast that revenue will exceed 1 billion euros ($1.36 billion) this year and said an operating result of 180 million euros is possible. The Hamburg- based company also forecast growth for 2011 as the recovery in transport volumes accelerates. The shares lost 1 percent to 29.89 euros.
Medion AG (MDN GY): The consumer electronics company said third-quarter net income rose to 3.4 million euros from 3.3 million a year earlier. Analysts expected net income of 3.3 million euros. The shares advanced 1.7 percent to 10.75 euros.
Q-Cells SE (QCE GY): The solar company posted third-quarter earnings before interest and taxes of 36.7 million euros after losing 105 million euros in the year-earlier period. The shares sank 7.3 percent to 2.68 euros.
Salzgitter AG (SZG GY): Germany’s second-biggest steelmaker posted a nine-month after-tax profit of 3.9 million euros, after a loss of 232.1 million euros a year earlier, as sales increased. The shares shed 0.4 percent to 54.77 euros.
Solon SE (SOO1 GY): The maker of solar modules and systems reported that the company narrowed its nine-month net loss after minority interests to 17.4 million euros from a loss of 146.7 million euros a year earlier. The shares slumped 1.7 percent to 2.32 euros.
United Internet AG (UTDI GY): The Internet provider was cut to “hold” from “buy” at Citigroup Inc. The shares tumbled 9.2 percent to 11.78 euros.
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