HARLEY DAVIDSON RESULTS
Harley-Davidson Inc (NYSE:HOG) the American motorcycle manufacturer is facing a dangerous downhill.
The third quarter results certify their stagnation. and while Europe and Asia pull sales, that is not enough to offset the fall in the US. The value on Wall Street is at 2012 levels.
Harley-Davidson continues rolling down the roads around the world, but slows at home in the US. Keith E. Wandell, head of the Milwaukee firm until last May, and I saw it coming. The business has remained strong early in the year, despite the “headwinds”. These winds refer to the benefit of the motorcycle manufacturer, which has begun a dangerous downhill. In the third quarter of 2015 it entered 1,320 million versus $ 1,300 million in the same period last year, but the benefit has been cut by 7.6% to 140.3 million dollars, compared with 150.1 million 2014.
Matt Levatich, is the president and CEO of Harley-Davidson since May.
The disappointment in the company is palpable. “This third quarter has not developed as expected,” said Matt Levatich, new president since May. In two days, Wall Street punished Harley-Davidson (HD) with its biggest drop on the stock market (-16.45%) since the beginning of the crisis, returning to action November 2012 values, $ 47.03.
These bad figures confirm the negative trend in the numbers of HD, that so far this year posted a net profit of 710 million dollars (645 million euros), 7.8% less than in the same period of 2014.
Levatich said: “This strong competitive environment will continue” and that the brand will increase investment in marketing and new product development.
The sales increase this quarter in Europe, the Middle East and Africa-in the environment of 2.4% and 5% in Asia not offset the fall in the US, which has been almost 2.5%, and 1% in the rest of the world, driven by Latin America, where sales fell 11%.
In this situation we add that, in recent times, his rivals in the domestic market have a strong policy of discounts on their models, with very aggressive offers as low interest loans, and even subsidized repurchase of models in exchange for the new. Add to this the increasingly strong position of the dollar against the euro is added, and the yen does not help, the mix is served.
But, according to market sources, Harley-Davidson is not willing to compete on price, something the industry segment thanks. And he is not willing to do even though it has had to revise downwards its sales forecast for the year to 265,000 / 270,000 units compared to 276,000 / 281,000 initials.
The drop in sales in the US and the dollar’s strength against the euro and yen hinder their business.
In addition to increased marketing items and development of models, Harley-Davidson plans to spend this last quarter, about 30 or 35 million dollars to reorganize the company, which would also include a number of layoffs.
Read more:
http://investor.harley-davidson.com/phoenix.zhtml?c=87981&p=irol-irhome
ALCOA RESULTS BREAKUP
Alcoa Inc. (AA) reported a profit in the quarter that disappointed analysts.
In terms of technical analysis the title ended last week in recovering
With the price of aluminum to fall for the fourth quarter and at a time when the company announced that it will protect the volatility of raw material prices.
Revenues for the quarter totaled USD 5570 mn (vs. USD 5640 mn estimated).
The quarterly earnings per share were $ 0.07, well below the estimates of $ 0.13, the company reiterated projections for aluminum demand in 2015.
Alcoa just announced that it will split into two companies in the second half of 2016.
If the deal goes through, there will be an upstream company and a value-added company. The former will be called Alcoa.
The name for the latter has yet to be announced. But the names don’t matter. It’s the potential that investors care about.
This upstream company will have 64 global facilities and 17,000 employees. Management’s focus will be on disciplined capital allocation and capital returns to shareholders. Alcoa has restructured its upstream business over the past several years by cutting costs.
Read more:
http://www.alcoa.com/global/en/investment/info_page/home.asp
Credit Agricole results
Credit Agricole reported a net profit in 2Q15, EUR 920 mn, above the comparable figure, EUR 77 mn.
Analysts estimates for the French institution EUR 901 mn.
The boost database performance are the asset management units and international consumer banking.
The CEO reiterated the targets for 2016 and said the bank is working to reduce costs.
Banco Popolare results
Banco Popolare reported a net profit for the quarter of EUR 84,3mn, beating estimates of market consensus (EUR 66,3mn) and compared with the previous year (EUR 25mn).
The Italian financial institution had a total revenue amounting to EUR 859mn (EUR 832mn vs. expected).
Provisions of loans amounted to EUR 194mn (EUR 200mn vs. estimated).
The common equity tier 1 ratio was 12.2% in June.
The Bank provides EUR 140mn gains from the sale of the stake in ICBPI.
Mediobanca MB
Mediobanca had a net profit in the quarter amounted to EUR 124,2mn.
It fell short of estimates (EUR 131,5mn), but compares favorably to the result for the same period (EUR 69,5mn).
The financial institution has proposed a dividend per share of EUR 0.25 (EUR vs. 0.21 expected), corresponding to a payout ratio of 36%.
The core tier 1 ratio was 12% in the period.
The Italian bank indicated that the positive trend in banking is expected to continue in the next quarter.
Banca Monte dei Paschi di Siena results
Banca Monte dei Paschi di Siena reported a net profit of EUR 121mn in the quarter, higher than estimated by the consensus (EUR 28,7mn).
The Italian bank has already shown signs of improvement in credit quality.
The core tier 1 ratio was 10.7% in the period.
Provisions for credit fell to EUR 515.8 mn, a decrease over the same period (EUR 731,4mn), although above the consensus estimates (EUR 486,6mn).
An Assembly of Shareholders has been scheduled for September 15 to appoint the Chairman.
Commerzbank results
Commerzbank showed profits of EUR 280 mn 2Q15, up from EUR 100 mn in the same period.
The German financial institution and beat the expectations of EUR 252.9 mn.
The boost database performance is the corporate banking unit, which posted an increase in operating profit EUR 267 mn to EUR 294 mn.
The capital ratio of common equity tier 1 stood at 10.5%.
Deutsche Bank results
Deutsche Bank reported quarterly earnings of EUR 796 mn, up from EUR 237 mn in the same quarter due to lower tax payments.
The German bank was slightly short of market expectations (EUR 797 mn).
The litigation expenses amounted to EUR 1,200 mn, up from EUR 550 mn estimated.
The ratio of common equity tier 1 beat expectations (11.4% vs. 11.1%).
According to market commentary, the US Justice Department is investigating operations at the request of Russian customers.
These small-sized operations may have been used for customers to transfer funds from the country without alerting the authorities.
CaixaBank results
CaixaBank reported a net profit in 2Q15 to EUR 333 mn, slightly short of the EUR 334 mn expected by the market.
Net interest income of the Spanish financial institution backed, on a sequential basis, from EUR 1140 to EUR 1130 mn, with the institution to revise downwards the growth in the item in 2015 to 4% – 6%.
The ratio of loans in arrears stood at 9% and the equity ratio CET 1 fully – loaded remained unchanged at 11.5%.
Banco Bilbao Vizcaya Argentaria – BBVA – results
Banco Bilbao Vizcaya Argentaria announced a growth of 73% in profits for EUR 1220 mn.
The Spanish financial institution had profits above EUR 937.000mn estimated.
The consolidation of the plant in Mexico boosted results with this unit to contribute 41% of earnings (EUR 519 mn).
The ratio of loans in arrears stood at 6.1% and the common equity tier 1 ratio amounted to 12.3%.
Banco Popular Espanol results
Banco Popular Espanol SA reported a drop in net interest income of EUR 580.4 mn in 2Q14 to EUR 563.8 mn in 2Q15.
On the other hand, the Spanish financial institution indicated that the net result amounted to EUR 96.5 mn, above the comparable figure of EUR 89.2 mn.
This figure was in line with the projections of EUR 96.3 mn.
The ratios of loans in default and CET1 recorded values of 13.24% and 12.45%, respectively.
BNP Paribas results
BNP Paribas reported the highest quarterly profit for the last three years, due to increases in revenues (+ 16% to EUR 11,100 mn vs.EUR 10,500 mn expected).
The French financial institution presented non-recurring gains (EUR 420 mn) from the sale of a stake in Klépierre SA.
The profit amounted up to EUR 2,600 mn, with the corporate & investment banking unit to show a profit before tax of thousand mn, above estimates of EUR 828 mn.
The common equity tier 1 ratio increased to 10.6%.
Banco Santander results
Banco Santander reported a growth in annual profit, benefiting from a favorable legal ruling in Brazil that allowed reversing a provision in the amount of BRL 4.8000 mn.
The financial institution filed a quarterly net profit that increased from EUR 1450 mn to EUR 2540 mn.
However it fell short of expectations of EUR 2600 mn.
Net interest income amounted to EUR 8,280 mn and the ratio non-performing loans stood at 4.64% (vs. 4.5% in 1Q15).
The ratio of common equity tier 1 increased sequentially from 9.7% to 9.8%.
DANONE INCREASING RESULTS
DANONE SA (EPA:BN) announced its quarterly results.
These hit the market consensus, with the unit of dairy products to benefit from the fall in milk prices.
Adjusted operating profit for the half increased 17% to EUR 1,380 mn (vs. EUR 1370 mn expected).
Comparable sales in 2Q15 grew by 4.6% (vs. 4.3% projected).
The growth projections of 4% to 5% in comparable sales and slight increase in operating margin were reaffirmed by the company.
In terms of technical analysis, DANONE is in a BULISH LEVEL.
Read more:
http://finance.danone.com/phoenix.zhtml?c=95168&p=irol-contact
ADIDAS JUMPS HIGHER THAN EXPECTED
Adidas released the results of the first quarter.
The company reported a 17% increase in sales to EUR 4090 mn, which exceeded the expected by the market (EUR 3,490 mn), which represent a gross margin of 49.2%.
Net profit amounted to EUR 221mn, in line with estimates (EUR 219.2 mn), already reflecting the new CEO of the strategy in a quarter where the company benefited from the increase in demand for running shoes and an increase in consumption in Europe .
By geographical areas, sales fell 33.6% in the division that includes Russia and several former Soviet republics, whereas increased 44.3% in China, 27.9% in North America, 26.6% in Middle East, Africa and several Asian countries, and 13.1% in Western Europe.
The targets set for 2015 have been restated.
Read more:
http://www.adidas-group.com/en/investors/overview/
BMW SPEEDS IN REVENUE
BMW presented its quarterly results.
The automaker reported revenues in the quarter of EUR 20,900 mn, exceeding expected by consensus (EUR 20,250 mn) and shows an increase compared to the same period last year.
EBIT was EUR 2,500 mn (vs. EUR 2200 mn estimated), with the margin of the automotive segment to remain unchanged at 9.5%.
The company reaffirmed the targets for the year provides a solid growth in profit before tax (5% – 9.9%), an increase in sales volume and EBIT margin of automobile segment of 8% -10%.
Norbert Reithofer, chairman of the Board said that they plan to achieve solid growth and new all-time highs for both our Group sales and the pre-tax Group result.
Also to remain the world’s leading premium car company.
The business environment will continue to be highly volatile. We see both risks and opportunities over the course of the year.
Read more:
http://www.bmwgroup.com/e/0_0_www_bmwgroup_com/investor_relations/ir_2011.html
ALIBABA WITH A NEW CEO
Alibaba named Daniel Zhang as the company’s CEO in place of Jonathan Lu after its shares reach record lows.
The Chinese giant has just make known their results.
Had in the fourth quarter revenues of 2,810 million dollars compared with a forecast of 2.720 million.
Alibaba said the appointment of Daniel Zhang became effective from May 10.
Alibaba’s revenues increased by 45% during the quarter, beating the expectations of the market, driven by a steady increase of users who buy items via mobile devices.
The profit of Alibaba, fell 49%, up to EUR 463 million representing 18 cents per share.
The March quarter, the fourth quarter the company tends to be weaker for Alibaba due to vacation of the new lunar year in China.
In this period, mobile transactions represented 51% of total transactions of Alibaba, 42% above the December quarter.
Adjusted income, however, rose 7%, up to 48 cents per share.
Analysts expected 42 cents per share earnings.
Read more:
http://www.alibabagroup.com/en/ir/home
AIR FRANCE AND AIRBUS RESULTS DO NOT FLY
Air France has presented the results in the quarter.
Revenues amounted to EUR 5,660 mn, exceeding expected by consensus (EUR 5520 mn).
The operating result was a loss of EUR 417mn, roughly in line with expectations (EUR 411mn), at a time when the CEO wants to implement a plan by 2020 to increase productivity.
The company reiterated Outlook for the year, which provides a reduction of costs between 1% to 1.3% and net debt of EUR4,4 thousand mn.
The European aircraft manufacturer also presented its quarterly results.
Airbus reported a drop in revenues of 1Q15 (vs. EUR 12,100 EUR 12,600 mn a year earlier), which disappointed the market consensus (EUR 12,740 mn).
EBIT excluding some items also registered a slight decrease (EUR 49 mn), standing at EUR 651 mn.
The company confirmed the projections of more deliveries, increase in revenues and EBIT in the current year.
Read more:
http://www.airfranceklm.com/en/finance
http://www.airbusgroup.com/int/en/investors-shareholders.html
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