Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.
  • TickerVIV
  • ISINFR0000127771
  • ExchangeEuronext Paris
  • SectorMedia
  • CountryFrance
Research Department

INFORME DIARIO 04 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKIA, CAIXABANK, CAMBIOS IBEX 35, MEDIASET ESPAÑA, REPSOL, SECTOR TURISMO, TELEFÓNICA. EUROPA: VIVENDI. Las tecnológicas lastran a EE.UU. y arrastran a Europa Fuerte recogida de beneficios en las bolsas estadounidenses centrado sobre todo en tecnológicas y el growth en general que provocaron un giro a la baja en las principales bolsas europeas despidiendo la sesión con caídas. Así, en el Euro STOXX prácticamente todos los sectores presentaron caídas con Alimentación y Autos liderando los avances y Tecnología y Servicios Financiero...

Research Department

INFORME DIARIO 02 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: MEDIASET ESPAÑA, SECTOR BANCOS ESPAÑA, TELEFÓNICA. EUROPA: REVISIÓN ANUAL ES50, SIEMENS, VIVENDI. Alemania se mantiene al margen de las caídas Mejor comportamiento de las bolsas core frente a la periferia (DAX +0,2% vs -0,2% Ibex) que refleja la recuperación macro más débil de estos últimos. EE.UU. subió gracias al mejor comportamiento relativo de los valores growth. Con todo el Euro STOXX terminó con ligeras subidas dirigidas por Tecnología y Retail frente a las caídas lideradas por Viajes&Ocio y Alimentación. Por el lado macro,...

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 23 TO 30 OCTOBER 2019 (ANÁLISIS BANCO SABADELL)

European Portfolio We lower Volkswagen’s weight and raise that of Airbus. European High Yield Portfolio Air Liquide, Allianz, Daimler, SAP & Vivendi No changes this week. Spanish Recommended Portfolio No changes this week. 5-Stock Recommended Portfolio ACS, Caixabank, Cellnex, Ferrovial & Telefónica No changes this week. 5 High-Yield Stock Portfolio Iberdrola, Merlin, Repsol, Santander & Telefónica No changes this week. Mid&Small Recommended Portfolio Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Másmóvil, Sacyr & Unicaja No changes this week.

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 06 TO 13 MARCH 2019 (ANÁLISIS BANCO SABADELL)

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 06 TO 13 MARCH 2019 (ANÁLISIS BANCO SABADELL)

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 06 A 13 MARZO 2019 (ANÁLISIS BANCO SABADELL)

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 06 A 13 MARZO 2019 (ANÁLISIS BANCO SABADELL)

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 27 FEBRUARY TO 06 MARCH 2019 (ANÁLISIS BANCO SABADELL)

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 27 FEBRUARY TO 06 MARCH 2019 (ANÁLISIS BANCO SABADELL)

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 27 FEBRERO A 06 MARZO 2019 (ANÁLISIS BANCO SABADELL)

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 27 FEBRERO A 06 MARZO 2019 (ANÁLISIS BANCO SABADELL)

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Add exposure to Technology, Communications We view weakness over the past week as correcting a significant amount of the excess optimism that was baked-in to global equities. As a result, we recommend taking advantage of the pullback by adding exposure to our favorite areas - namely Technology. Our overall outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. • Index overviews: MSCI ACWI ex-US, MSCI EM, STOXX Europe 50, and the TOPIX indexes are analyzed from both a price and RS perspective... see page...

Valérie GASTALDY

Short term view - VIVENDI : The trend is bearish.

The trend is bearish. The recovery is a consolidation. The fall might resume toward €21.20. The background trend would be questioned should prices rise above €22.67.

Valérie GASTALDY

Analyse court terme - VIVENDI : La tendance est baissière.

La tendance est baissière. La reprise est une consolidation. La baisse risque de reprendre jusqu'à 21,20 €. La tendance de fond serait remise en cause en cas de franchissement de 22,67 €.

Valérie GASTALDY

Short term view - VIVENDI : The recovery is a consolidation.

The trend is bearish. The recovery is a consolidation. The fall might resume toward €21.20. The background trend would be questioned should prices rise above €22.67.

Valérie GASTALDY

Analyse court terme - VIVENDI : La reprise est une consolidation.

La tendance est baissière. La reprise est une consolidation. La baisse risque de reprendre jusqu'à 21,20 €. La tendance de fond serait remise en cause en cas de franchissement de 22,67 €.

Research Department

INFORME DIARIO 04 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKIA, CAIXABANK, CAMBIOS IBEX 35, MEDIASET ESPAÑA, REPSOL, SECTOR TURISMO, TELEFÓNICA. EUROPA: VIVENDI. Las tecnológicas lastran a EE.UU. y arrastran a Europa Fuerte recogida de beneficios en las bolsas estadounidenses centrado sobre todo en tecnológicas y el growth en general que provocaron un giro a la baja en las principales bolsas europeas despidiendo la sesión con caídas. Así, en el Euro STOXX prácticamente todos los sectores presentaron caídas con Alimentación y Autos liderando los avances y Tecnología y Servicios Financiero...

Research Department

INFORME DIARIO 02 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: MEDIASET ESPAÑA, SECTOR BANCOS ESPAÑA, TELEFÓNICA. EUROPA: REVISIÓN ANUAL ES50, SIEMENS, VIVENDI. Alemania se mantiene al margen de las caídas Mejor comportamiento de las bolsas core frente a la periferia (DAX +0,2% vs -0,2% Ibex) que refleja la recuperación macro más débil de estos últimos. EE.UU. subió gracias al mejor comportamiento relativo de los valores growth. Con todo el Euro STOXX terminó con ligeras subidas dirigidas por Tecnología y Retail frente a las caídas lideradas por Viajes&Ocio y Alimentación. Por el lado macro,...

Research Department

INFORME DIARIO 06 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: IBERDROLA, MEDIASET, SIEMENS GAMESA, OHL. EUROPA: ADIDAS, AXA, ING GROEP, SIEMENS, UNICREDIT, VIVENDI. Subida de las bolsas animadas por rumores de avances en vacunas y la expectativa de acuerdo fiscal en EE.UU. Evolución de menos a más de las bolsas europeas animadas por las noticias positivas relativas al desarrollo de una vacuna, la expectativa de un pronto acuerdo fiscal en EE.UU. entre demócratas y republicanos (presionados por los malos datos de empleo) y la senda descendiente en el ritmo de contagios en los estados del sur. Tras la s...

Jerôme Bodin

Vivendi : H1 slightly better thanks to a one-off at UMG and a fairly cautious message on share buybacks

>EBITA a shade higher than our forecast - Vivendi's Q2 2020 results, reported yesterday evening, just beat expectations, with EBITA of € 735m, vs our forecast of € 699m. The main difference stems from UMG whose margin exceeded our forecast, thanks particularly to an exceptional gain in music publishing (royalties claim). This is very commonplace for the major players and cannot, in our view, be viewed as being a complete one-off. The rest of the group’s operations we...

Research Department

INFORME DIARIO 31 JULIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACS, ARCELOR MITTAL, CAF, CAIXABANK, FERROVIAL, GRUPO CATALANA OCCIDENTE, MEDIASET ESPAÑA, MELIÁ HOTELS, TALGO. EUROPA: AB INBEV, BNP, ESSILORLUXOTTICA, INTESA SANPAOLO, LINDE, LOREAL, NOKIA, VINCI, VIVENDI, VOLKSWAGEN. Alemania arrastra a Europa Los malos datos del PIB del 2T’20 en Alemania, que podrían anticipar sorpresas negativas en la periferia, provocaron la toma de beneficios en el resto de plazas de Europa, con caídas por encima del -3%. En el Euro STOXX todos los sectores registraron pérdidas, encabezadas por los financieros Ba...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 02/01/2020 - Secteur chimique européen

Secteur chimique européen: Des revenus stables attendus dans le secteur en 2020, après un recul de -1% en 2019 Automobile - France : Les immatriculations de voitures en hausse de +1,9% à 2,2m en 2019 Le Portugal pourrait bénéficier d’une hausse de son rating dès le 17 janvier Le volume des fusions & acquisitions ressort à plus de $3.850 mds en 2019 (-3,3%), la 4ème année la plus active, Goldman Sachs affiche environ 35% de part de marché Vivendi (Achat) : Finalise la cession de 10% d'UMG à Tencent pour €3 mds Ahold Delhaize (Achat) : Lance un progra...

Carole Braudeau

Morning Crédit 21/11/2016

D'après le site internet spécialisé ATW, Etihad (Fitch : A) - l'actionnaire de référence d'Air Berlin (CCC+ estimé) avec une participation de 29% - et TUI (Ba2/BB- pos) sont en négociations finales pour créer une compagnie aérienne européenne sur le segment loisirs, qui devrait exploiter 60 avions en point à point vers les principaux marchés touristiques. L'accord devrait être finalisé lors d'une réunion du conseil d'administration le 23 novembre.CMA CGM (B1/B neg) a publié des résultats encore très faibles au T3 16. Volkswagen (A3/BBB+) a annoncé un plan de renforcement de ...

Carole Braudeau

Credit Morning 11/21/2016

According to the specialized website ATW, Etihad (Fitch: A) - the reference shareholder of Air Berlin (CCC+ estimated) with a 29% stake - and TUI (Ba2/BB- pos) are in final discussions to create a European leisure airline group which is expected to operate 60 aircraft on point-to-point services to key tourist markets. The deal is expected to be finalized at a board meeting on November 23.CMA CGM (B1/B neg) reported still very poor results in Q3 2016.Volkswagen announced a plan to boost the profitability of the VW brand aiming to save € 3.7bn by 2020. >

Carole Braudeau

Credit Morning 11/18/2016

OHL’s management held a conference call after Moody’s downgraded its rating from B3/negative to Caa1/negative to argue that this decision was disproportionate and disconnected from recent asset sales.>

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/20/2020

Discussing a return of inflation may seem irrelevant at a time when there is so much downward pressure on prices (unemployment, raw materials). Inflation swaps are nonetheless picking up. Perhaps this is due to the effects of several long-term trends (ageing of the population, de-globalisation, etc.) combined with base effects on raw materials. While this return is likely to be gradual, it will imply an adjustment of portfolios. Value (banks) and commodities (mining) should benefit, e...

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/07/2020

Parler d’un retour de l’inflation peut sembler hors sujet tant les pressions baissières sur les prix sont nombreuses (chômage, matières premières). Pourtant les swaps d’inflation se redressent. Il faut peut-être y voir les effets de plusieurs tendances de long terme (vieillissement de la population, dé-globalisation,..) conjuguées à des effets de base sur les matières premières. Si ce retour sera probablement graduel, il va impliquer une adaptation des portefeuilles. La value (banques...

Alain William ...
  • Alexandre Iatrides
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/16/2020

We reiterate our Buy recommendation on Bolloré, with a revised target price of € 3.8, reflecting upside of 38%. Despite poor visibility, we expect EBITA for Bolloré Transport & Logistics' EBITA to grow solidly as a result of robust growth in the ports business and also tight control of costs (fall in investments). A simplification operation, to increase the stake in Vivendi in the coming quarters, still seems plausible, in our view. - Cf. company report published today. - ...

With a more favourable environment, VIVENDI improves to Positive

VIVENDI (FR), a company active in the Broadcasting & Entertainment industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date June 30, 2020, the closing price was EUR 22.84 and its potential was estimated at EUR 24.62.

Systematic Ideas - Reiterate Long Vivendi Universal - 17 Nov

Deydun Markets' QuantLab team use systematic models with fundamental and quantitative inputs to generate signals on stocks, ETFs, indices, forex pairs and commodities for both investors and traders. We use a rigorous set of strategies to isolate the model that generates the profit curve that shows the most promise. A combination of systematic derivative, fundamental and technical analysis across varying time frames and approaches helps sift out the highest conviction, actionable signals which we publish. Our unique treatment of risk as a predictive input is one of the reasons why we are able ...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

Expert Corporate Governance Service (ECGS)

Vivendi – AGM 20 April 2020

Incoherent Governance : The Supervisory Board was mostly made up of independent members before the arrival of the Bolloré Group. Vincent Bolloré gradually took over and now the governance fails to comply with market practices: there is no separation of powers. Normally, the reference shareholder appoints its representatives for the Supervisory Board and the managers of subsidiaries will occasionally sit on the Executive Board (executive officer of business units). However, the opposite occurs in Vivendi. Yannick Bolloré, CEO of Havas, which is one of Vivendi's subsidiaries, chairs the Supervi...

Vivendi - Assemblée Générale des actionnaires du 20 avril 2020

UNE GOUVERNANCE QUI DEMEURE INCOHERENTEDénoncée par Proxinvest à de nombreuses reprises, la gouvernance de Vivendi s'est fortement détériorée depuis l'arrivée du Groupe Bolloré au capital au-delà des transactions avec cette partie liée. Alors que le conseil de Vivendi était majoritairement composé de membres libres de conflits d'intérêts, Vincent Bolloré a progressivement mis la main sur celui-ci et les mouvements intervenus ont mené à une incohérence de la gouvernance qui ne respecte pas la logique de séparation des pouvoirs dont les actionnaires sont en droit d'attendre d'une société à Conse...

Expert Corporate Governance Service (ECGS)

Vivendi April 15th, 2019

The Supervisory Board was mostly made up of independent members before the arrival of the Bolloré Group. Vincent Bolloré gradually took over and now the governance fails to comply with market practices: there is no separation of powers. Normally, the reference shareholder appoints its representatives for the Supervisory Board and the managers of subsidiaries will occasionally sit on the Executive Board (executive officer of business units). However, the opposite occurs in Vivendi. Yannick Bolloré, CEO of Havas, which is one of Vivendi’s subsidiaries, chairs the Supervisory Board. He is respons...

Vivendi, 15 Avril 2019

UNE GOUVERNANCE INCOHERENTELa gouvernance de Vivendi s'est fortement détériorée depuis l'arrivée du Groupe Bolloré au capital. Alors que le conseil de Vivendi était majoritairement composé de membres libres de conflits d'intérêts, Vincent Bolloré a progressivement mis la main sur celui-ci et les mouvements intervenus ont mené à une incohérence de la gouvernance qui ne respecte pas la logique de séparation des pouvoirs dont les actionnaires sont en droit d'attendre d'une société à Conseil de surveillance et Directoire. En effet, dans les structures à Directoire et conseil de surveillance, l’act...

Vivendi - Assemblée générale des actionnaires du 15 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

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