Sonova Holding AG (SOON) said today that the company is expecting sales of around 1.6 billion francs and an EBITA margin of 20-21 percent for 2010/11, barring any unforeseen events. The revision is based on a recall, delayed sales growth and negative currency effects.
WHAT TO WATCH: *Credit Suisse and the Centre for European Economic Research, or ZEW, publish an economic expectations survey
EQUITIES: *Actelion said to hire Goldman, Wachtell on Elliott proposals UBS AG (UBSN)’s global head of securities Neal Shear has quit *UBS promotes Bourkoff to head of Americas investment banking *Bucher Industries has 2010 net of SF97.7 million after loss *Nestle says it partially reopens Tokyo-area plant after quake *Baloise agrees to buy Nateus, Nateus Life from Belgium’s Ethias *Novartis wins approval to purchase Chinese vaccine maker Stake, CBN says *Weatherford revises first quarter 2011 earnings guidance *Burkhalter Group buys Sergio Lo Stanco Elektro *Kuoni said Travelport’s lenders consented to disposal of GTA
ECONOMY/POLITICS: *SNB may keep rates on hold as Japan aftermath adds Franc pressure
MARKETS: *The SMI fell 2.8 percent to close at 6,101.01 *The SPI fell 2.7 percent to close at 5,54.25 *The Stoxx Europe 600 Index dropped 2.1 percent to 266.84 *The MSCI Asia-Pacific Index gained 3 percent to 128.71 at 7:43 a.m. Zurich time *Euro -- franc at 1.2820 at 7:17 a.m. Zurich time
To contact the reporter on this story: Carolyn Bandel in Zurich at firstname.lastname@example.org.
To contact the editor responsible for this story: Frank Connelly at email@example.com.