Swiss Daybook: Nobel Misses Estimates, Logitech and UBS AGM
Nobel Biocare Holding AG (NOBN) reported first-quarter profit of 12.9 million euros, below the average analyst estimate of 15.2 million euros.
Chief Financial Officer Dirk Kirsten said the dental- implant maker submitted an unbinding bid for AstraZeneca Plc’s AstraTech unit, and hasn’t decided whether to continue because it’s too early to say.
EQUITIES: *Logitech International reported net income of $2.8 million in the fiscal fourth quarter compared with $24.5 million a year earlier and said it expects sales of about $2.6 billion for the fiscal year ending March 31, 2012 *Novartis said it got European Union approval for Rasilamlo to treat high blood pressure *Kuoni Travel Holding said it expects to raise 257 million Swiss francs through its share sale. New registered shares will be offered to existing shareholders with a subscription ratio of 5 new shares for 16 existing. The subscription price was set at 270 francs *ADB lowered its 2011 guidance to an expected 30 percent sales growth after first-quarter revenue fell short of its forecast *Bucher Industries said first-quarter sales rose 13 percent to 537 million Swiss francs and order intake rose 18 percent to 640 million francs, the company confirmed its outlook for this year *Also-Actebis Holding reported first-quarter sales of 1.38 billion euros and first-quarter net income of 5.4 million euros *Meyer Burger wins 70 million-franc order with existing customer *Siemens said it will close a factory employing 200 workers near Zurich and expand its Building Technologies headquarters in Zug *Banque Privée Edmond de Rothschild named Benoit Clivio as director to strengthen relations with Swiss-based clients
WHAT TO WATCH: *UBS holds annual shareholders’ meeting at 10.30 a.m. in Basel *Synthes holds annual general meeting at 4:30 p.m. in Solothurn and reports first-quarter sales at 5:30 p.m. *Lindt & Spruengli holds annual general meeting at 10 a.m. in Zurich *Logitech International holds press conference at 9:30 a.m. in Zurich *Banque Privee Edmond de Rothschild holds annual general meeting at 10 a.m. in Geneva
MARKETS: *The SMI fell 0.1 percent to 6,472.42 *The SPI fell 0.1 percent to 5,954.55 *The Stoxx Europe 600 Index rose 0.3 percent to 282.15 *The MSCI Asia-Pacific Index rose 1.1 percent to 139.39 at 7:14 a.m. Zurich time *Euro-franc traded at 1.2934 at 7:16 a.m. Zurich time
To contact the reporters on this story: Corinne Gretler in Zurich at firstname.lastname@example.org