STM promoted by Goldman Sachs
Goldman Sachs has raised estimates of earnings per share for STMicroelectronics, the Franco-Italian chip maker, following the positive results recorded in the first quarter of 2000. The U.S. investment bank retains title to the recommendation of the “recommended list” and set a target price of $ 215 per ADR of STM, quoted on the American market. The estimates for 2000 have been elevated to a profit per share of $ 3.51 to $ 3, up by 17%. While the forecasts for 2001 have been raised to $ 4.5 to 3.60 dlr, an increase of 25%. A Piazza Affari the title is trading at 194.15 euros (+2.57%).
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CDC: revenues +52% and +94% gross profit
CDC, waiting for the landing in the new market (planned for May next June) announces its results, the company active in the computer, internet and telecoms closed the first quarter of 2000 with a profit before tax 7,930 billion, an increase of 94.1% compared with 4.086 billion the same period ‘98. The turnover has increased by 52.44% in the first three months, reaching a height of 282.167 bln 185.098 bln against the same period ‘98.
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In Europe, the star shines in Paris
Gran final rally in Paris (+0.19%) which closed at 6077 points after this morning’s CAC 40 came to lose even 5%. The excellent opening on Wall Street has infected mostly StMicroelec. (+10%) And Lagardère (+6.8%). Recoveries on the final even Thomson CSF (+5.2%), Equant (+4%), Bouygues (+3.7%) and L’Oreal (+3%). In contrast Canal Plus (-5%), BNP (-3.9%), Credit Lyonnais (-3%), Aventis (-2.5%) and Lafarge (-2%).
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Recordati touches a gain of 4%
The title of the subsidiary to 63.17% from the financial FIME stock market jumps to 9.6 euro, appreciated by 3.96%. According to analysts Recordati remains a buy opportunity, as it is the only Italian pharmaceutical company with substantial investments in research and development. E ’scheduled for May 10th presentation in Milan of the company, which will be commented during the economic and financial data for the first quarter of 2000. The title has scored YTD gain of 17.6%.
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The shadow of the bear does not depart from Milan
Awaiting the opening of U.S. markets, the index Milanese worsens performance. The Mib30 loses 3.80% and the Mibtel drops by 3.81%. The worst of the list are Cdb Web Finmatica and Aedes savings. Negative performance for the Gruppo Editoriale L’Espresso and Lazio Football. AMGA is suspended for excessive downward after being traded at 1.99 euros.
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T-Online, rising debut, +20%
T-Online is exchanging upward to 32.5 euros compared to the opening price of 27 euros, marking a +20%. The assessment of the market at the time coincides with the upper part of the expected price range between 27 and 32 Euros from the German Telekom. Deutsche Telekom CEO Ron Sommer, recalled this morning that T-Online, the first Internet service provider in Europe can not record profits for this quarter, but expect a better situation for the current year.
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Crolla the New mkt
Opens New York, Europe is on alert
the opening of the New York Stock Exchange beginning in negative after the announcement of U.S. data on consumer prices come down even more European stock markets. The FTSE marks -3.14% to 6157 points, Frankfurt’s DAX losing 3.27% to 7205 points, while France’s CAC exchanges to -3.11% at 6071 points.
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New joint venture between Sanofi-Synt. and Genset
Sanofi-Synthelabo, the French pharmaceutical group, and Genset announced a second joint venture in biotechnology genetics. This agreement is intended to select and optimize the molecules in the search for diseases of the central nervous system. While Genset, listed on the Nouveau Marché, gaining 1%, Sanofi loses 1, 1%.