Economic Calendar

Thursday, November 6, 2008

Adidas, Altana, Fraport, Henkel, Telekom: German Equity Preview

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By Nadja Brandt and Stefanie Haxel

Nov. 6 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Germany. Stock symbols are in parentheses, and share prices are from the previous close.

DAX Index futures expiring in December declined 154.5, or 3 percent, to 5,043 as of 8:11 a.m. in Frankfurt. The DAX dropped 2.1 percent to 5,166.87.

Adidas AG (ADS GY): The world's second-largest sporting- goods maker reported stagnant third-quarter profit after taxes fell and financial costs rose and maintained annual forecasts. Adidas shares declined 90 cents, or 3 percent, to 29.47 euros.

Altana AG (ALT GY): Skion GmbH, the company owned by German billionaire Susanne Klatten, offered 910 million euros for the rest of the world's largest maker of additives for coatings and plastics.

Separately, Altana today reported third-quarter net income of 32.4 million euros, in line with analyst estimates, and didn't give an outlook for 2009 because of economic uncertainty. The shares slipped 3 cents, or 0.3 percent, to 9.39 euros.

Bayer AG (BAY GY): Germany's biggest drugmaker is sticking to its long-term strategy of expanding through acquisitions, Frankfurter Allgemeine Zeitung reported, citing an interview with Chief Executive Officer Werner Wenning. The shares dropped 1.20 euros, or 2.7 percent, to 43.38.

Deutsche Telekom AG (DTE GY): Europe's largest telephone company posted a surprise increase in third-quarter profit on lower writedowns, personnel costs and taxes. Net income excluding special items gained 12 percent to 1.18 billion euros ($1.52 billion), beating an 866 million-euro median analyst estimate in a Bloomberg survey. The shares fell 13.5 cents, or 1.2 percent, to 11.55 euros.

Draegerwerk AG (DRW3 GY): The maker of the Infinity ACS patient-monitoring system reported third-quarter net income fell to 1.8 million euros from 5.6 million euros a year earlier. The shares decreased 1.55 euros, or 4.5 percent, to 32.60 euros.

Duerr AG (DUE GY): The supplier of automotive-painting equipment said third-quarter profit after tax gained 8.8 percent to 6.2 million euros as carmakers in Asia, Russia, and Brazil boosted capacity. The shares declined 66 cents, or 5 percent, to 12.55 euros.

Fielmann AG (FIE GY): Europe's largest chain of optical stores said third-quarter profit rose 46 percent to 31.7 million euros as sales outside its home market increased. The shares advanced 2.38 euros, or 5.2 percent, to 48 euros.

Fraport AG (FRA GY): The owner of Frankfurt Airport said third-quarter net income gained 9.6 percent to 127 million euros, helped by reimbursements related to a disputed project in Manila and exceeding a median analyst estimate. The company also lowered its outlook for traffic at Frankfurt Airport. The shares fell 2 euros, or 6.9 percent, to 27.10 euros.

Fuchs Petrolub AG (FPE GY): Germany's largest maker of lubricants said third-quarter profit was unchanged as it raised prices to offset climbing raw material costs. The shares declined 1.34 euros, or 2.4 percent, to 55.16 euros.

Gildemeister AG (GIL GY): The maker of milling machines used by the Red Bull Formula One racing team said third-quarter profit more than doubled to 23.8 million euros and that next year will be ``challenging.'' The shares added 2 cents, or 0.2 percent, to 8.56 euros.

Heidelberger Druckmaschinen AG (HDD GY): The world's largest maker of printing machines posted a fiscal first-half net loss of 95 million euros as cost-cutting programs failed to fully compensate for a slump in demand. The shares fell 14 cents, or 1.9 percent, to 7.27 euros.

Henkel AG & Co. KGaA (HEN3 GY): The maker of Persil detergent cut its forecast for annual profit because of higher costs for plastic and other raw materials and expenses to combine an acquired unit with other divisions.

Separately, third-quarter profit declined 58 on costs for cutting jobs under a plan aimed at improving profitability. The shares lost 60 cents, or 2.5 percent, to 23.26 euros.

OVB Holding AG (O4B GY): The financial-services broker that has most of its customers in eastern Europe reported a 39 percent increase in third-quarter profit to 5 million euros as it paid lower taxes. OVB Holding shares sank 5 cents, or 0.2 percent, to 25.18 euros.

ProSiebenSat.1 Media AG (PSM GY): Germany's biggest private broadcaster reported a third-quarter loss on falling advertising sales in a deteriorating economy. The net loss was 10.7 million euros, falling short of an 8.5 million-euro median estimate in an analyst survey. The shares advanced 5 cents, or 2 percent, to 2.56 euros.

Rhoen-Klinikum AG (RHK GY): Germany's biggest publicly traded hospital operator plans to hold an analyst conference. The shares dropped 17 cents, or 0.9 percent, to 18.05 euros.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net; Stefanie Haxel in Frankfurt at shaxel@bloomberg.net.




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