Arques, Easy Software, Telekom, Triumph: German Equity Preview

By Nadja Brandt and Stefanie Haxel

Nov. 18 (Bloomberg) -- The following companies 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 added 4.5, or 0.1 percent, to 4,562.5 as of 8:23 a.m. in Frankfurt. The DAX dropped 3.3 percent to 4,557.27 yesterday.

Air Berlin Plc (AB1 GY): The discount airline's LTU and Dba pilots began warning strikes today to protest the stoppage of flight operations to cut costs. The shares rose 5 cents, or 1.7 percent, to 2.95 euros.

Arques Industries AG (AQU GY): The investment company removed from Germany's MDAX mid-cap index in June forecast a ``significant loss'' for the full year due to the ``rapidly deteriorating economic situation.'' The shares fell 10 cents, or 3.9 percent, to 2.49 euros.

Deutsche Telekom AG (DTE GY): Goldman Sachs Group Inc. lowered its recommendation on Europe's largest phone company to ``neutral'' from ``buy,'' citing the recent outperformance of the stock and ``uninspiring'' results. The shares lost 50 cents, or 4.3 percent, to 11.11 euros.

Easy Software AG (ESY GY): The maker of archiving software cut its full-year pretax profit forecasts, saying its cost structure was geared toward ``significantly higher revenue.'' The shares climbed 19 cents, or 7.9 percent, to 2.59 euros.

Hannover Re (HNR1 GY): Credit Suisse Group AG raised its recommendation for Germany's second-biggest reinsurer to ``neutral'' from ``underperform.'' The shares dropped 62 cents, or 3 percent, to 20.40 euros.

Pfleiderer AG (PFD4 GY): The laminate flooring maker with 22 factories on two continents had its credit rating cut by Moody's Investors Service to the third level below investment grade. The shares increased 14 cents, or 2.2 percent, to 6.44 euros.

Repower Systems AG (RPW GY): Suzlon Energy Ltd. will postpone the purchase of a further 22.4 percent stake in the wind-turbine maker after having to cancel a capital increase last month, Handelsblatt said, citing Suzlon Chairman Tulsi Tanti. Repower shares gained 3.67 euros, or 3.6 percent, to 105.85.

Salzgitter AG (SZG GY): JPMorgan Chase & Co. cut its share- price estimate for Germany's second-largest steelmaker 16 percent to 63 euros. Salzgitter added 6 cents, or 0.1 percent, to 46.06 euros.

Solarworld AG (SWV GY): Jefferies International Ltd. raised its recommendation for Germany's third-largest solar company to ``buy'' from ``hold.'' The shares advanced 46 cents, or 2.9 percent, to 16.61 euros.

TA Triumph-Adler AG (TWN GY): Kyocera Mita Corp. bid 1.90 euros ($2.39) a share for the remaining stake in the copier maker. The stock surged 4 cents, or 5.9 percent, to 72 cents.

United Internet AG (UTDI GY): HSBC Holdings Plc downgraded Germany's third-largest Web access provider to ``neutral'' from ``overweight.'' United Internet shares sank 74 cents, or 12 percent, to 5.26 euros.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net