STOCKS NEWS Reuters Results diary
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11:28GMT 06Nov2008-Motivcom slides after trading update
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Shares in Motivcom slide 30.5 percent as the employee-performance improvement company says it does not expect to meet market estimates on its headline operating profit for the year ending Dec. 31 due to current economic conditions.
Numis Securities cuts its 2008 pretax profit estimate to 3.0 million pounds, from 4.2 million pounds, and its 2008 EPS estimate to 7.1 pence, from 10 pence.
For 2009, the broker lowers its pretax profit estimate to 4.5 million pounds, from 5.0 million pounds, and its EPS estimate falls to 10.9 pence, from 12.3 pence.
Accordingly, Numis cuts its target price to 73 pence, from 95 pence, but keeps its "buy" recommendation.
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10:55GMT 06Nov2008- Fresenius Medical Care up on defensive strengths
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Shares in Fresenius Medical Care add 3.8 percent, the only two gainers among German largecaps, after investors are buying the stock based on the dialysis specialists defensive characteristics.
"Fresenius is a solid defensive stock. A good bet in a slumping market," says a Frankfurt-based trader.
Research analyst Chris Donnellan from Dresdner Kleinwort also points to the company's solid revenue stream.
"We see FMC as continuing to provide stable and relatively predictable revenue and earnings growth going forward despite the economic slowdown. This defensive quality is certainly one of the main reasons for holding the stock at present," Donnellan writes in a note to clients.
Donnellan says a second reason for holding the stock is a potential upside from an extension to private insurance coverage of dialysis in the United States.
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10:53GMT 06Nov2008-Dunelm up on "better than expected" sales
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Shares in Dunelm, the home furnishings retailer, climb 2.1 percent after the company says its total sales up 4.3 percent in the 18 weeks to Nov 1, 2008.
Seymour Pierce repeats its "hold" recommendation on the company.
Like-for-like figures are reported to be down 3.9 percent, but Seymour Pierce says this is a better than expected result.
"It shows that although sales are extremely volatile the downturn is not quite as bad as flagged up by the consumer confidence figures," the broker says in a note.
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10:46GMT 06Nov2008-Huveaux falls on earnings downgrade
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Shares in Huveaux fall nearly 22 percent to 7.25 pence after it warns that full year profits will fall short of previous expectations. The group blames the abolition of SATs in schools, which will hit sales of its educational products in 2008 and 2009.
Stockbrokers Brewin Dolphin says it has lowered its 2008 divisional EBIT forecast by 600,000 pounds to 2.4 million pounds, which feeds through to a 19 percent earnings downgrade to 1.3 pence a share.
For 2009, the broker is downgrading its earnings forecast by 14 percent to 1.8 pence, driven primarily by the expectation of flat educational profits. It also cut its dividend forecasts for both years.
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10:41GMT 06Nov2008-easyJet down; Panmure sees "deteriorating" outlook
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Shares in easyJet, the low-cost airline, fall 1.2 percent as traders continue to take a bearish view on the aviation sector, with Panmure Gordon saying trading conditions look set to deteriorate in the face of worsening economic conditions.
Panmure is commenting after eazyJet releases its load factor figures for October, which showed a 1.4 percent rise to 83.9 percent.
The figures follow Monday's news from Ryanair, the Dublin based airline, which said it would make losses in the second-half as ticket prices plunge and the ongoing issues surrounding the sale of Alitalia. Ryanair slips 2.2 percent.
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10:33GMT 06Nov2008-Rhodia shares fall after Q3
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Rhodia shares fell by as much as 7.5 percent despite generally good third-quarter performance and the French specialty chemical maker's confidence for the future.
"There are several factors, firstly the stock market is down, plus although the figures in general were good and the company was confident for the future, free cash-flow is still negative, polyamide was disappointing in Europe and net profit was lifted by a 34 million euro exceptional item and if restated, net profit came in below expectations," Natixis Securities analyst Clement Celerier says.
Rhodia shares are down 5 percent, while the DJ Stoxx European chemicals sector is down 4.6 percent.
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10:27GMT 06Nov2008-InBev rebounds on results relief
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Shares of InBev rise as much as 6.1 percent, making them one the top gainers on the FTSEurofirst 300 index and against a 1.9 percent decline of the DJ Stoxx European food and beverage index.
InBev shares fell 13 percent on Wednesday after Danish rival Carlsberg trimmed its earnings outlook on weaker consumer sentiment.
"I think there's an element of relief for InBev," an Amsterdam-based analyst says, adding that Brazilian and western Europe figures are above expectations.
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10:18GMT 06Nov2008-Fuchs Petrolub falls after results
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Shares in Fuchs Petrolub fall 16.1 percent after the industrial lubricant specialist says it sees a slight drop in its 2008 EBIT forecast.
"It is no real surprise that Fuchs warned after it was becoming more cautious with its pronouncements on the second-half of the year," says one Frankfurt-based trader.
The trader says Fuchs' 9-month results were mixed compared to analyst expectations.
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