STOCKS NEWS Reuters Results diary
Stocks on the move Real-time Equity News

12:47GMT 11Nov2008-Babcock International up as H1 profit soars

Shares in Babcock International, the engineering services company, climb 5.6 percent as it reports a 30 percent rise in first-half profits, leading Singer Capital Markets to repeat its "buy" recommendation and 570 pence target price.
Singer says Babcock's interim results are 15-10 percent ahead of its own and consensus forecasts respectively, underpinned by a strong contribution by the Marine division.
The broker says management are being typically prudent and full-year 2009 consensus earning estimates seem likely to edge up by 2-4 percent.
Singer says Babcock's shares currently trade at a discount to peers, which it believes is unwarranted.
For more double click on

Reuters Messaging rm://david.brett.reuters.com@reuters.net
12:29GMT 11Nov2008-Property groups fall on grim retail outlook

Shares property groups slide after the British Retail Consortium says UK retail sales fell for a fifth straight month in October, prompting fears that tenant demand for premises will continue to fall.
Mall owners Hammerson and Liberty International slide 6.7 percent and 6.3 percent, respectively. British Land sheds 6.9 percent and Land Securities is down 3.9 percent.
"In the retail sector, potential tenants are taking a cautious stance towards singing leases at new schemes...as retailers brace themselves for a difficult Christmas trading period, there is increasing concern that landlords will have to concede softer letting terms in the face of a general rise in tenant defaults in the new year," says Charles Stanley analyst Tina Cook.

Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
12:23GMT 11Nov2008-Turkey's Enka shares dive on Russia exposure fears

Shares in construction company Enka Construction dive 11.6 percent to 4.65 lira after press reports that the company is selling 18 small supermarkets in Moscow, highlighting the company's problems in the Russian real estate sector, said analysts.
Enka has large operations in the Russian construction and development sectors. Enka was not immediately available for comment.
"The company's Russian operations are problematic and they have been so for the past two months, especially in the real estate sector ... News that the company plans to sell 18 small supermarkets is also negative," said Serhat Kaya of Oyak Securities.

Reuters Messaging rm://thomas.grove@thomson.reuters.com
12:15GMT 11Nov2008-FTSE Small Cap Index down 1.1 pct at midday

The FTSE Small Cap Index continues to slide in mid-session trade, down 1.1 percent, taking its cue from the wider UK market, as the FTSE 100 Index falls 2.3 percent.
Work Group slumps 41 percent as the human resources services provider issues a profit warning, saying markets have continued to weaken, following its interim management statement on Sept.22 2008, adding it is taking steps to reduce costs.
Motive TV climbs 20 percent after announcing its comedy production company Brown Eyed Boy has received orders worth more than 1.2 million pounds for three comedy series.

Reuters Messaging rm://david.brett.reuters.com@reuters.net
12:09GMT 11Nov2008-Punch lower on renewed debt fears

Shares in Punch Taverns fall 10.4 percent on renewed fears over its 4.5 billion-pound debt pile after InterContinental Hotels says the current financial crisis is having an impact on the availability of debt finance.
Punch, whose debt stands at more than 10 times the market value of its equity, scrapped its dividend earlier in the year in order to help it meet debt repayments due next year and has taken steps in recent weeks to repurchase tranches of debt.
"Punch, being such a geared company, has been hit by InterContinental saying finances are becoming harder to come by," says Derren Nathan, an analyst at Blue Oar Securities.

Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
11:49GMT 11Nov2008-Land of Leather down, furniture sales slow

Shares in sofa chain Land of Leather plunge 24 percent after the British Retail Consortium says last month's sales of furniture and related goods fell at their fastest rate for eight years, while overall British retail sales drop for a fifth straight month, coming in 2.2 percent lower than in October 2007.

"Persisting housing market weakness and low consumer confidence continued to hit DIY sales as larger DIY projects were adversely impacted by the unstable economic environment. The squeeze on discretionary spending continued as financial uncertainty fed through into consumer behaviour -- the Christmas outlook remains bleak," says Investec's Natalia Marisova.
For more, click on

Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
11:12GMT 11Nov2008-Kofax slumps as sales growth slows

Shares in Kofax fall as much as 9.5 percent after the software provider says reaching its double-digit sales growth targets for the year will be tougher than expected and that it is taking longer than thought to see the benefits from restructuring and revenue growth initiatives.
Numis analysts cut their valuation on the stock by about 30 percent to 160 pence per share, reflecting risks to forecasts. The stock is down 6.8 percent at 137.5 pence by 1053 GMT having earlier fallen as low as 133.5 pence.
"Kofax remains a strong cash generator, with a potentially good turnaround story," they write. "However, in the current market we can see plenty of attractively valued software companies (e.g. Aveva and Fidessa) and see little need to get too excited yet by Kofax."
For more, please click on

Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
10:57GMT 11Nov2008-Pfleiderer gains on cost cutting measures

Shares in Pfleiderer rise 5.7 percent, the second-biggest gainer on Frankfurt's midcap index, buoyed by cost cutting measures for this year as well as 2009 announced by the German board and laminate maker.
"The cost savings are positive at first sight, but one has to ask the question why they are doing it," says UniCredit analyst Andre Remke.
"They are bracing for an ongoing difficult market environment," he adds.
The company says it sees cost savings of 61 million euros ($78.67 million) in 2008, while it expects to save 80-90 million euros in 2009.
In addition, the company says it will cut 150 jobs in Germany next year.
For more double click on ($1=.7754 Euro)

Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
10:39GMT 11Nov2008-ET-China tumbles on forecasts warning

Shares in ET-China.com International slump 30.6 percent, after the South China travel services group says due to current conditions it is not expecting to meet market expectations.
"The slowdown in economic activity is the single main cause for the Chinese consumer turning extremely cautious over the month of October," Amit Thakar, an analyst at Seymour Pierce, says.
However, Seymour Pierce, which repeats its "buy" stance, says the group is well funded and the fragmented industry in is ripe for the company to take advantage of the distressed situation.
For more double click on

Reuters Messaging rm://david.brett.reuters.com@reuters.net
10:44GMT 11NOV2008-Premiere rises on News Corp bid speculation

Shares in Premiere rise 5.5 percent to feature among top gainers on German midcap index as traders point to speculation that Rupert Murdoch's News Corp could bid for the remaining shares in the pay-TV provider when it releases figures on Thursday.
News Corp and Premiere both say they will not comment on the speculation.
Murdoch's company has built up a 25 percent stake in Premiere this year and appointed News Corp's chief financial officer for Europe and Asia Mark Williams as CEO in a move to get the company back on track and in a step which many see as preparations for a takeover.
Recently, M&A speculation heated up after a report in Sydney Morning Herald said Murdoch told a analyst conference in Sydney that his company was carrying out due diligence.
For more double click on &

Reuters Messaging rm://tyler.sitte.reuters.com@reuters.net
10:29GMT 11Nov2008-Tomkins down, Deutsche Bank cuts forecasts

Shares in British engineer Tomkins fall 4.5 percent as Deutsche Bank reduces its forecasts and cuts its target price to 115 pence from 125 pence in reaction to the company's update on Nov 6, 2008.
Deutsche Bank reduces its 2008 and 2009 estimated EBIT by 12 percent and 17 percent respectively.

However, Deutsche Bank raises its recommendation to "hold" from "sell" citing valuation grounds.
For more double click on

Reuters Messaging rm://david.brett.reuters.com@reuters.net
09:57GMT 11Nov2008-Psion tumbles on H2 profit warning

Shares in Psion, the British technology group, plunge 16.2 percent after it warns second-half profits will be lower than first-half due to the economic slowdown, prompting RBS to downgrade its estimates.
Charles Brennan, an analyst at RBS, says: "The Business slowdown during the last 6 weeks has come during the group's seasonally strongest quarter."
As a result, RBS has provisionally downgraded 2008 pretax profit estimates by 38 percent to 8.2 million pounds, and 2009 pretax profit forecasts by 33 percent to 11 million pounds.
Psion said it expects comprehensive reorganisation to reduce costs by up to 15 million pounds in a full year and improve its market position in 2009, protecting revenues and restoring profitability.
For more double click on

Reuters Messaging rm://david.brett.reuters.com@reuters.net
10:17GMT 11Nov2008-Irvine Energy plunges on funding fears

Irvine Energy Plc shares plunge 55 percent as the oil and gas exploration group says it has incurred cost over-runs on its seismic programme in Kansas and may need to raise additional finance.
The group says it is also in talks regarding potential asset sales.

Evolution Securities says this news is a "major blow" to the group's expansion plans, and withdraws both its investment recommendation and earnings forecasts for the company pending clarification of the situation.
For more click on; company statement
malcolm.locke@thomsonreuters.com; +44 207 542 0964

10:13GMT 11Nov2008-Allianz down, hurt by negative Citigroup note

Shares in Allianz slip 7.5 percent, pushing them near the bottom of weaker German largecaps, as traders point to pressure from a negative broker note from Citigroup following the insurer's third-quarter results.
The brokerage says that while Allianz's 2 billion euro loss at first looks better than the market estimate -- which foresaw a 4 billion euro loss -- this is deceiving.
"This is because the value of the Commerzbank stake has not been marked to market; instead, Commerz is treated as an associate from 'day one'. Adjusting for this, reported results were slightly below expectations," analyst James Quinn writes in the note to clients.
"At an operating level, the group fell short more or less across the board," says Quinn, adding that Allianz has been slow to react to the credit crisis and steps such as its investment in Hartford have compounded problems.

Reuters Messaging rm://tyler.sitte.thomsonreuters.com@thomsonreuters.net
09:41GMT 11Nov2008-Tanfield down on gloomy 2009 outlook

Shares in Tanfield plunge as much as 18 percent after the electric vehicle and lift platforms maker reinforces its September trading statement by saying it sees no sign that poor current trading levels will improve next year.
Although the group is cutting costs to save cash, it forecasts nothing better than a break-even performance in 2009.

"Management reiterates its previous statement, in which it indicates that trading conditions remain difficult, not least due to the lack of credit to its end customers and a global reduction in demand. The business is now running at break-even and management has indicated that it expects a similar trading environment for 2009," says Arbuthnot analyst Xavier Gunner.
To see Tanfield's statement please click on

Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
09:35GMT 11Nov2008-Work Group fall on profit warning

Shares in Work Group fall 41 percent to 11.5 pence as the human resources services provider says its full-year pretax profit will be materially below market expectations as it secures fewer contracts and sees more projects deferrals.
"Management was extremely cautious regarding prospects in September but this has not prevented a profits warning being issued...The group has reported that its markets have continued to weaken since the interims with net fee income 11 percent lower in Q3 and trading expected to slow further in Q4," says FinnCap analyst Charles Pick.
For more, click on

Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
09:54GMT 11Nov2008-InterContinental dips after Oct warning

InterContinental Hotel shares dip 4.7 percent to 515.5 pence as the world's biggest hotelier warns of a sharp deterioration in trading in October after it delivered forecast-beating third-quarter profits.
Analysts said they had expected a fall in trading after the financial crisis had hit other hoteliers, but forecasts for 2009 could now come down after the poor trading in October.
"The scale of the deterioration in October is clear and we expect consensus to adjust downwards for 2009, which in the near term is likely to continue to put pressure on the stock," said analyst Simon Larkin at brokers RBS.
To see full story click on

Reuters messaging rm://david.jones.reuters.com@reuters.net
09:31GMT 11Nov2008-Aareal Bank drops; releases Q3 results

Shares in German property lender Aareal bank drop 8.8 percent to the bottom of Frankfurt's midcap index, after the company reports solid third-quarter results, but analysts point to the new accounting regulations that have not been considered in analyst forecasts.
"The trading result was better than expected," says FrankfurtFinanz market analyst Heino Ruland.
"The rest was in line with forecasts. But if you assume that the new accounting regulations have not been taken into consideration in analyst forecasts, the numbers are bad," he adds.
Merck Finck & Co analyst Konrad Becker cites a higher loss from non-trading assets, compensating the otherwise solid numbers.
"Aareal's Tier I ratio amounted to 8 percent at the end of September," he says.
"The management sees this figure as sufficient and made no statement concerning the acceptance of a capital injection by the federal government."
The company says that the current environment does not permit any reliable forecast for the year 2008 as a whole.
For more double click on

Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
09:12GMT 11Nov2008-Vodafone surges after first-half results

Vodafone soars in early trading after the mobile group reports first half results slightly ahead of expectations.
The shares rise 6.9 percent as the company increases its forecast for free cashflow and says it will reduce costs by 1 billion pounds, and maintains its forecast for adjusted operating profit.
However, it cuts its revenue forecast and now expects full-year group revenues to be between 38.8 billion pounds ($61.25 billion) and 39.7 billion.
Cazenove says it will up its earnings per share estimates for the year by 5 percent to 13.8 pence, and maintains its "outperform" rating on the shares.

It says revenue, at 19.9 billion pounds, is above consensus, amd welcomes Vodafone's "progressive" dividend policy. Reuters Messaging rm://brian.gorman.thomsonreuters.com@reuters.net
09:18GMT 11Nov2008-Telekom Austria surges on job cuts

Shares in government-controlled Telekom Austria rise as much as 9 percent to 10.59 euros, after the company late on Monday says it will slash 1,250 employees from its workforce even if it cannot lay them off due to their civil servant status.
Analysts praise the move despite a hefty 630 million euro ($812.4 million) charge the carrier has to take for it, saying it is a first step which puts pressure on the government to resolve the problem of high personnel costs.
"We regard such a programme as an important and necessary step towards an agreement with a new government which is still necessary in our view to solve the personnel cost problem," WestLB analyst Stefan Borscheid says in a note to clients.
Exane BNP Paribas analysts say that the plan should raise the company's free cash flow from 2011 and was would add 0.75 euros to their target share price. For more double click on

Reuters Messaging rm://boris.groendahl.reuters.com@reuters.net
09:06GMT 11Oct2008-Northern Foods up as H1 beats consensus

Shares in Northern Foods rise 6 percent after the food manufacturer reports first-half pretax profit ahead of market expectations. Pretax profit of 16.9 million pounds is ahead of the consensus forecast of 16.5 million.
Citigroup says the results were "somewhat better" than it anticipated, highlights margin delivery. It expects the shares to be relatively strong on Tuesday.
matthew.scuffham@reuters.com

09:18GMT 11Nov2008-Electrocomponents hit by trading update

Electrocomponents shares fall as much as 5 percent after the electrical parts distributor reports trading conditions deteriorating in its half-year results statement. "Reported results are in-line with our expectations but current trading conditions have deteriorated. With a weak trading outlook and forecast risk on the downside, we reiterate our cautious stance," says Panmure analyst Andy Brown, who has a 'sell' recommendation on the stock.
To see the full article please click on or

Reuters messaging rm://ben.deighton.reuters.com@reuters.net
09:11GMT 11Nov2008-Infineon drops on worries over Qimonda unit

Shares in Infineon Technologies fall 6 percent, the sharpest decliner among slumping German large-cap stocks, as traders and analysts point to continued worries about its Qimonda DRAM unit.

"Qimonda's stock price already reflects the possibility that the company might not survive. Nonetheless, a (newspaper) report should drag down Infineon's share price today," says a Frankfurt-based trader.
Citing an internal works council document, the Sueddeutsche Zeitung newspaper reports that the persisting crisis of the DRAM industry is putting considerable pressure on Qimonda.
The newspaper quotes an Qimonda spokesman saying the situation is "very serious."
"The fact is that Qimonda is in a serious downturn that is affecting the entire chip industry due to falling DRAM prices," a Qimonda spokesman says in reaction to the report.
Infineon is not available for immediate comment.
"There is only one option left," says market analyst Heino Ruland.
"Call for public aid! Each and any sector as well as almost every company is doing so after management has failed," Ruland says.

Reuters Messaging rm://tyler.sitte.reuters.com@reuters.net
08:43GMT 11Nov2008-BBVA drops as Merrill, Fitch turn negative

BBVA shares drop 5.3 percent after Merrill Lynch downgrades the Spanish bank to "underperform" from "neutral" and Fitch Ratings cuts its outlook for BBVA's Mexican unit.
Merril Lynch, which also cuts its price objective to 8.33 euros per share from 10.89 euros, concluded that Mexico is likely to suffer from reduced credit quality and availibility along with an economic slowdown.

The U.S investment bank's conclusion coincides with Fitch Ratings decision to cut its outlook for long-term international scale ratings of BBVA Bancomer to "negative" from "stable" on Monday. The cut is part of a general outlook revision of eight Mexican institutions, in line with its recent rating outlook revision of Mexico's sovereign ratings to "negative" from "stable". Both Santander and BBVA nine months results show decreasing loan quality at their Mexican units. Reuters messaging: rm://jonathan.gleave.reuters.com@reuters.net
08:58GMT 11Nov-Harvey Nash higher on outsourcing deal

Harvey Nash shares jump 13.5 percent after the global recruitment consultancy and IT outsourcing company announces a two-year deal with Alcatel-Lucent for an initial 54 million euros.
Stockbrokers Seymour Pierce says this is a "significant positive development... The shares are trading on a very undemanding 2.6 times earnings and should go better on this news". The brokerage reiterates its 'buy' recommendation for the stock with a target price of 45 pence.
For company statement click
malcolm.locke@thomsonreuters.com; +44 20 7542-0964
08:25GMT 11Nov2008-FTSE Small Cap Index down 0.3 pct early

The FTSE Small Cap Index falls 0.3 percent in early trade in a quiet opening for UK markets, as good figures from Vodafone offset Monday's bad corporate data from the U.S., with the FTSE 100 Index down 1.2 percent.
Irvine Energy loses 44.8 percent of its value after the company says that it intends to sell none-core assets in order to pay for cost overruns incurred on its 3-D seismic programme, as well as additional operational expenditure.
UTV Media rises 13.4 percent as TVC Holdings continues its stakebuilding in the company by acquiring a further 3 percent of its share capital, taking its total holding to 18 percent, following its purchase of 15 percent in July, 2008.

Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:52GMT 11Nov2008-Cookson shares hammered by trading update

Cookson Group Plc's shares fall as much as 30 percent to a fresh record low after the British industrial materials company says 2008 performance will fall short of management expectations and weaker end-market conditions since the end of the third quarter are expected to continue into 2009.
Cazenove analysts cut their 2009 earnings per share forecast for Cookson by 18 percent to 50.9 pence and its 2010 EPS forecast by 14 percent to 59.5 pence but say they are keeping their 'in-line'rating on the stock.
By 0851 GMT, share trading down 15 percent at 146 pence. To see Cookson's statement please click on
dan.lalor@thomsonreuters.com

08:31GMT 11Nov2008-Celesio down on Deutsche Bank downgrade

Shares in German drug distributor Celesio fall 4.6 percent to the bottom of Frankfurt's midcap index, after Deutsche Bank downgrades the stock to "sell" from "hold" and lowers its target price to 20 euros from 25 euros.

"We cut our 2008 earnings by 2 percent and 2009 earnings by nearly 20 percent on recessionary concerns, failed upswing of the underlying wholesale/retail business and preparation costs for pharmacy liberalisation," Deutsche Bank analysts write in a note.
The company is due to report third-quarter results on Nov. 13 and has underperformed the midcap index by 3.4 percent since the beginning of the year.

Reuters messaging rm://christoph.steitz.reuters.com@reuters.net
08:42GMT 11Nov2008-Taylor Wimpey down as debt worries persist

Shares in British housebuilder Taylor Wimpey, which have lost over 90 percent of their value over the last 12 months, fall as much as 9.4 percent after the company issues a management statement that gives little update on the debt it is trying to renegotiate.
"The recommendation call on Taylor Wimpey remains highly leveraged to the group's ability to sort out its financial position. This statement does little to clarify the outlook on this front," says Citi analyst Clyde Lewis.
For more please click on or

Reuters messaging rm://ben.deighton.reuters.com@reuters.net
08:38GMT 11Nov2008-Crucell jumps on first profit, higher targets

Shares in Dutch biotechnology company Crucell gain more than 10 percent after it posts its first ever quarterly profit and raises its 2008 sales forecast, thanks to strong sales growth and cost savings.
"It is a basket of good news," says fund manager Marius Andre at Keijser Capital. He does not hold Crucell shares.
The stock hits a three-month high in early trade at 12.25 euros.
For more double click on

Reuters Messaging: foo.yunchee.reuters.com@reuters.net
08:25GMT 11Nov2008-Europe shares fall in early trade, commodities lead

European shares drop in early trade, tracking losses on Wall Street and in Asia as fear of a widespread recession eclipses optimism over China's $600 billion stimulus package.
The FTSEurofirst 300 index of top European shares is down 1.2 percent at 911.85 points. The index rose 0.9 percent in the previous session, as news of China's stimulus plan sparked a rally in commodity-related shares.
But commodity stocks fall on Tuesday as worries for the global economy return to the fore and metals and oil prices retreat.
BG Group, BP, Total and ENI are down 1.9-3.9 percent, while Anglo American, BHP Billiton, Rio Tinto and Xstrata are 3.9-5.9 percent lower.

Reuters Messaging rm://sarah.marsh.reuters.com@reuters.net
07:51GMT 11Nov2008-RWE shares higher pre-bourse on strong Q3 results

Shares in RWE are indicated 1.1 percent higher in pre-market trade, bucking a downward trend among German largecaps, as Europe's fifth-largest utility releases consensus-beating third-quarter results.
"Shares should clearly benefit from the solid reporting," says a Frankfurt-based trader.
Market analyst Heino Ruland says RWE's results are particularly strong and said the stock should benefit from the company's announcement it will raise its dividend to 70 to 80 percent of recurrent income.
"It is clear who benefitted from higher energy prices," Ruland adds.
RWE also raises its 2008 sales guidance to more than 10 percent, from its previous 5-10 percent forecast, topping market consensus of a 7.8 percent rise.
For more double click on, &

Reuters Messaging rm://tyler.sitte.reuters.com@reuters.net
07:45GMT 11Nov2008-Deutsche Euroshop seen up on 9-mth results

Shares in German retail property company Deutsche Euroshop are indicated 2.9 percent higher, according to brokerage Lang & Schwarz, after the company hikes its full-year guidance on strong nine-month results.
Share price drivers include rental income, the portfolio's performance and

net operating income growth, writes DZ Bank analyst Ulrich Geis.
The company is now expecting 2008 revenue of 113 million euros to 115 million euros ($145.7-148.3 million), up from a previous forecast of 110-113 million euros.
For more double click on

Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

($1=.7754 Euro)
0730:GMT 11Nov2008-Index futures slide, tracking losses in U.S. and Asia

European stock index futures point to a drop at the open on Tuesday, tracking losses on Wall Street and in Asia, as fresh concerns over the outlook for the global economy overshadow optimism over China's stimulus plan.
Futures for Eurostoxx 50, Germany's DAX and the French CAC 40 are down between 2 and 2.2 percent.
China's inflation fell to a 17-month low of 4 percent in October, while trade figures were expected to show slowing imports, dampening hopes that China's growth will help cushion the impact of a global downturn.
In Europe, British retail sales fell for a fifth straight month in October on a like-for-like basis and by the biggest amount in more than three years.

Macro economic data (GMT)
0001 GB Retail sales data
0001 GB RICS housing survey
0700 DE Wholesale Price Index
0745 FR Payrolls
0930 GB Trade
1100 DE ZEW Economic sentiment
1100 DE ZEW Current conditions
1355 US Red Book weekly chain store sales

Major companies:
Vodafone Group

Intesa San Paolo
Intercell
Trygvesta
Mediaset
Enel
Qiagen N.V.
Aveva Group
Babcock
VT Group
InterContinental Hotels
Electrocomponents
Cookson

U.S. companies include
Liz Claiborne

Reuters Messaging rm://sarah.marsh.reuters.com@reuters.net
07:30GMT 11Nov2008-Tognum seen up on solid Q3 order intake

Shares in German heavy diesel engine maker Tognum are indicated 2.9 percent higher after the company releases a good set of third-quarter results, with traders citing a strong order intake.
"Especially the strong order intake and a better-than-expected EBIT margin should help the stock to outperform today," says a Frankfurt-based trader.
Order intake increased by 4 percent to 864 million euros, and the company still expects 2008 turnover to increase by about 11 percent, while underlying operating profitability is seen coming in at about 13 percent.
Tognum says third-quarter adjusted earnings before interest and tax increased to 124 million euros ($159.9 million), beating the average estimate of 104 million euros from a Reuters poll of 8 analysts.
For more double click on

Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
07:14GMT 11Nov2008-Qiagen seen up on strong Q3 results

Shares in German genetic-testing company Qiagen are indicated 6 percent higher, according to brokerage Lang & Schwarz, after the company late on Monday released better-than-expected third-quarter results. "Qiagen reported Q3 2008 figures above the own and consensus expectations," DZ Bank analyst Michael Bissinger writes, confirming the bank's "buy" rating on the stock.
"The guidance was slightly increased, and more important the company sees no sign of a slowdown of customers demand," he adds.
Qiagen says third-quarter net profit adjusted for acquisition-related charges rose to $42.4 million, slightly more than the average estimate of $41 million in a Reuters survey of seven analysts.
The company also expects $921 million of sales this year, while in 2009, sales are expected to come in above $1 billion.
For more double click on

Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

Keywords: MARKETS EUROPE STOCKSNEWS =4

COPYRIGHT

Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.