Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

B&O Shares Drop as Nordea Says Don’t Buy Yet: Copenhagen Mover

Bang & Olufsen A/S fell for a second day in Copenhagen after Nordea Bank AB said shares in the luxury stereo and television maker could decline further, adding to yesterday’s losses from a cut forecast.

B&O declined 3.1 percent after falling 9.8 percent yesterday. Shares in the Struer, Denmark-based company were down at 63.50 kroner at 12:47 p.m. in the Danish capital, with trading volume at 223 percent of the three-month daily average. The benchmark OMX Copenhagen C20 Index rose 0.1 percent.

B&O will spend as much as 100 million kroner ($18 million) to close under-performing stores amid declining sales, and cut its full-year outlook yesterday after reporting second-quarter net income lower than estimated. Revenue for the fiscal year ending May 31, 2013, will exceed last year’s, the company said. It earlier forecast double-digit growth.

The report was “a major disappointment,” Nordea analyst Michael Borre said in a note today. “As long as there is no growth in the audio-video unit, it’s hard to see why investors would be willing to send the share price higher.”

The bank cut its 12-month price target to 65 kroner from 80 kroner and kept its hold rating on the share.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.