Improving the situation of the sector European technology in the early afternoon, in view of the opening of Wall Street. Remain some negative signs and reduction in particular Arm Holdings (-3.88%), Alcatel (-2.71%), Nokia (-1.86%), ASML Holding (-1.48%), Infineon (– 1.34%), STMicroelectronics (-0.96%) and Ericsson (-0.38%).
Credit Lyonnais promotes from Add to Buy a blue chip German semiconductor Infineon, which sees a target price of 30 euros from 20 current (now the title loses 2.34% to 20.41 euros) . Among the reasons for the improvement, which also includes the rise in earnings per share estimates for 2003, lists the recovery in demand, but also changing the type of DRAM memory market led dall’ipotizzata union Micron / Hynix (the purchase is by the American Micron to come tomorrow from creditors of Hynix). The new leader will be created by the marriage 45% of the market, combined with 22% and 12% of Samsung, Infineon, will create the foundation for a concentration of supply and rising prices, which have not yet discounted in prices Infineon. CLyonnais estimated 2003 earnings per share for Infineon rise 98 cents to 1.08 euros earlier (in 2001 the company has lost 1.02 cents for 2002 is expected to red at 45 cents). CLyonnais The model is however based on an average spot price of DRAM memory from 128MB to $ 4.8 (in fact, those prices have dropped recently), which would lead in 2003, more than 4 billion euros turnover and 750 million of EBIT for an average price of $ 6 revenue and earnings rise respectively to 5.1 and 1.7 billion to $ 7 for DRAM climb to 6 and 3 billion.
Tags: American, company, credit, euro, euros, ipo, market, New
Analysts office of Credit Suisse First Boston studies have confirmed the opinion buy the title Ducati. The target price has been revised upward instead and was increased to 4 euros. Evaluation and ‘was drawn up after the announcement of record results in the first quarter of 2000. Meanwhile, the title salt, 1 day, 32% and is trading at 2.76 euros.
The French cosmetics giant L’Oreal running stride in the U.S. market where the day today has conclusuo two major acquisitions through its overseas subsidiary Cosma. It concluded negotiations for the purchase of Kiehl’s Since 1851, cosmetics company that boasts an established tradition and markets high quality products through its boutiques in New York and through the most prestigious shopping centers in North America. Cosma has also acquired Matrix Essentials, a subsidiary of Brystol-Myers Squibb, specializing in hair products and U.S. leaders in terms of turnover and presence in the hairdresser’s salon. The title L’Oreal is exchanged at this time to Paris to 710 euros.
Tags: company, euro, euros, exchange, market, markets, New, Real
Down the contents for the titles of the telephone group led by Roberto Colaninno, worse than the industry at European level. According to analysts, the titles are interesting and are still far from the target price have been identified. By Tim target prices hovering around 15-16 euros Indeed, while Telecom exceed 21-22 euros. The area of growth is therefore still very large if it had to end this phase of correction. “At these prices the phones are a good buying opportunity,” said a manager, “I’m interesting in particular Tim rnc and rnc Telecom and TIM ordinary shares, given the growth opportunities of the mobile sector in relation to developments of the Internet” .
The company Telecom Italy, Sirti, closed the first quarter of 2000 with orders amounting to 560 billion, compared with 1.000 billion the year ‘99. The shareholders’ meeting approved the budget and the distribution of a dividend of 345 lire per share, payable from next April 28. For some time the Telecom Group intends to dispose of Sirti and are to be talks with potential buyers. 50% of the activities related to wiring throughout Italy is assigned to Sirti.
RWE, the German utility, has been refused the purchase of Vew by the Authority to the German competition, which has said no to the merger until the two companies will not guarantee competition in the market ‘electricity. RWE would still insist on continuing the operation that would make it again the largest supplier of electricity in Germany, a position lost after the merger Veba-Viag. The two groups, RWE-VEW and Veba-Viag were thus 70% of control in the supply of electricity in Germany. RWE said it was preparing a new document to be presented next month. The title loses 0.27% on the Frankfurt Stock Exchange.
London opens with the FTSE trading in negative marks -0.82% to 6299 points, breaking the psychological threshold of 6300 points. Lose almost all the titles in the list and particularly the technology that goes with Vodafone to -3%. Better media, carried upward by the acquisitions in the sector, while banks do not seem to react to the downside in progress.
Net reversal for the title of Gruppo Editoriale L’Espresso, who after a morning loss of 4% now recover and earn over 3%. The quote was increased from a low of 15.77 euros to 17.28 euros today. For some managers the title at these prices is an interesting opportunity to purchase.
Day banner of volatility for Milan. “In the markets remain very nervous,” said Frederick Cornell, head of the BNL study, “The scholarships are waiting after this severe but salutary correction. We must pay special attention to the choice of actions, even if I do not think there will be a collapse of the awards. The eyes are the U.S. Nasdaq index, which is close to a resistance between 3600 and 3800 points. We must understand that nervousness about what door. Now then there are great expectations for the ECB’s decisions and the session on Wall Street. Even the Fed would intervene. I think that Alan Greenspan, the U.S. Federal Reserve governor, wants to establish two side corridors for the Dow Jones between $ 10,000 and The 11,500 points, while the Nasdaq between 3600 and 4500 points in order to bring to zero capital gains in the long term. In Italy in the short term we must adopt a tactical behavior and go on Fiat, Generali, Eni, and some banking stocks. My opinion is very positive about Enel, in the long term could give great satisfactions. The design of transport sounds, imagery and data over power lines, if there were successful, could trump the telecoms market, thanks to the widespread presence of Enel in the territory. “
Tags: Bank, banking, Dow Jones, Italy, Lat, market, markets, nasdaq, stock, stocks