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From DealingFloor:

** TRADING HEADLINES **

- Nestle May Turn to Procter Veteran Polman in Battle With Aldi and Tesco
- Novartis, Alnylam Plan to Jointly Develop Pandemic Influenza Medications
- Oil Rises a Third Day in New York as Nigerian Rebels Plan Further Attacks
- Commodity Strategists: BMO Nesbitt Burns Sees Nickel Rising on Demand Gain
- Macquarie Bank Shares Rise After Abandoning Bid for London Stock Exchange
- Toyota’s `Simple Slim’ Cuts Costs of Engines in Half, Hurting GM and Ford

** IN PLAY TODAY **

- Earnings of note: Man AG; Barclays, Wimpey George, Prosieben, Scottish & Newcastle and Schroders.

- E.On is to offer a 31% premium to Gas Natural SDG SA’s bid for Endesa,
according to SER. Gas Natural launched a controversial EUR21 billion offer for
Endesa in September. The bid was declared hostile by Endesa’s management, and
has resulted in a heated political battle in Spain, with the main opposition pa
accusing the government of favoring Gas Natural and its controlling shareholder,
Spain’s largest savings bank La Caixa . SER is Spain’s top radio network by
audience share.

- MAN AG said profit rose 46 percent last year as the company sold more
TGA-brand heavy vehicles and introduced TGL light-truck models. Net income rose
to 472 million euros, or 3.04 euros a share, from 323 million euros, or 2.11
euros, a year earlier. Sales rose 3 percent to 15 billion euros.Q4 profit number
looks above expectations and so does the order intake. Q4 revenue is below
consenus though.

- Altadis, the maker of Gauloises cigarettes and Cohiba cigars, increased profit
by 53 percent in the fourth quarter after buying businesses in Russia, Italy
and Spain. Net income rose to 153.3 million euros ) from 100.1 million euros a
year earlier, according to calculations by Bloomberg based on full-year results
reported today. A Bloomberg survey of seven analysts showed a median estimate of
144 million euros. Sales at the world’s biggest cigar maker gained 15 percent to
1.07 billion euros.

- Barclays Plc said profit advanced 6.2 percent in 2005 as trading income
outweighed gains from U.K. consumer lending. Net income rose to 3.45 billion
pounds, or 52.6 pence a share, from 3.25 billion pounds, or 49.8 pence a share,
in 2004. Profit was expected to rise to 3.42 billion pounds.

- Scottish & Newcastle Plc said profit rose 22 percent in 2005 after the
company spent more money to advertise Kronenbourg 1664 lager and other beers in
Britain and sales gained at its Russian business. Net income climbed to 248
million pounds, or 27.7 pence a share, from a restated 203 million pounds, or
22.7 pence, in 2004. The median analyst estimate was 285 million pounds.

- ProSiebenSat.1 Media AG,forecast earnings and sales will rise in 2006 as an
improving German economy will spur advertising sales. The company expects
advertising sales to rise about 2 percent 2006, helped by an expanding economy
and the World Cup soccer competition this summer. Net income in the three months
through December rose 66 percent to 96.9 million euros ($116 million),
ProSiebenSat.1 said today. The company had on Feb. 8 said fourth-quarter sales
rose 18 percent to 636 million euros as U.S. blockbuster movies including
“Spiderman'’ attracted more viewers and boosted audience ratings.

- George Wimpey Plc, Britain’s second biggest homebuilder by sales, said profit
fell 16 percent last year, the first decline in a decade, as the end of a
housing boom clipped demand and prices. Net income dropped to 252.8 million
pounds, or 64 pence a share, from 301.8 million pounds, or 77.3 pence, a
year earlier. Sales rose 1 percent to 3 billion pounds. Analysts expected net
income of 248.7 million pounds, or 63.4 pence a share, on sales of 3.04 billion
pounds.

** UPS & DOWNS **

+ ARRIVA RAISED TO `OVERWEIGHT’ VS. `EQUAL-WEIGHT’ AT M. STANLEY
+ SCHERING PRICE EST. RAISED TO EU65 FROM EU58 AT LEHMAN
+ LOGICACMG RAISED TO `BUY’ FROM `HOLD’ AT DEUTSCHE BANK
+ ANTOFAGASTA PRICE EST. RAISED 15% TO 1,880P AT DEUTSCHE BANK

- BILFINGER BERGER CUT TO `NEUTRAL’ FROM `BUY’ AT UBS
- ALTANA CUT TO `SELL’ FROM `HOLD’ AT CITIGROUP
- GENERALI CUT TO `UNDERWEIGHT’ AT MORGAN STANLEY
- CIBA CUT TO `HOLD’ FROM `BUY’ AT ING
- RIO TINTO CUT TO `IN-LINE’ VS. `OUTPERFORM’ AT GOLDMAN SACHS
- ZURICH FINANCIAL CUT TO `HOLD’ FROM `BUY’ AT CITIGROUP
- LONMIN CUT TO `NEUTRAL’ FROM `BUY’ AT UBS

** EON BIDS FOR ENDESA **

- E.ON AG, Germany’s biggest utility, said full-year net income jumped 71
percent, boosted by high energy prices. Net income advanced to 7.4 billion euros
from 4.3 billion euros a year earlier. Revenue climbed 21 percent to 56.4
billion euros. E.ON also offered to buy Spain’s Endesa SA for 29.1 billion
euros, topping a hostile bid from Gas Natural SDG SA.

Source: Tuesday Morning View From Europe