Market Recap
DJIA +0.04%, Nasdaq -0.18% and S&P -010%
Nikkei +0.3%
WTI Crude Oil USD 37.7
Gold USD 977.30
USD/EUR 1.2575
U.S. markets closed flat on below average volumes.
U.S. News
HP said Q1 revenues were below market estimation, EPS was almost in line. Q2 revenues guidance is below expectations as PC demand waned
Comcast reported better than expected results and increased its dividend.
Deere reported numbers below the consensus earnings estimate.
U.S. Steel was under pressure after a broker cut EPS to a loss per share vs breakeven.
Biomarin Pharmaceutical reported Q4 numbers below market expectations
European News
BNP reports a Q4 net loss of EUR 1.37bn almost in line. Co plans 2008 dividend of EUR 1.- and says IB performance in Jan 09 was very good.
UBS said it will pay USD 780m and disclose the names of some secredt account holders to avoid US prosecution.
Deutsche Postbank reports a FY2008 net loss of EUR 710m, in line with the consensus.
Axa reports FY08 net income of EUR 923m above the consensus and a dividen of 40c. 2009 will be a challenging year.
TF1 reports mixed FY 08 numbers. Sales are in line but revenues below market expectations.
Technip reports better 2008 numbers and guidance looks good.
PPR reports overall numbers in line with market expectations
Nestlé reports FY08 sales CHF 109bn, slightly below estimations, to propose a dividend CHF 1.40 and says will target an organic growth at least approaching 5% vs previously 5-6%. No comment on L’Oréal participation.
Land Secs is expected to announce its plan to raise £750m in a right offer today.
BMW and Daimler have no interest in acquiring Saab, the GM unit which is up for urgent sale.
SNS Reaal reports numbers below market expectations with a H2 net loss EUR 730m
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