Jefferies Financial Group Inc: 1 director

A director at Jefferies Financial Group Inc sold 1,500,000 shares at 43.501USD and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last ...

Tough comps, but solid underlying progress

EBIT down by a third, growth to decelerate

Ipsen : Feedback webcast T1 2024

>Moindre croissance sur les prochains trimestres ? - De la réunion d’hier, nous retenons que :1/ T1 a été bon mais la croissance du T1 (+13% à tcc.) ne semble pas extrapolable : i/ de nouveaux génériques de Somatuline devraient arriver en Europe et en Amérique du Nord au S2 2024/début 2025, ii/ Cabometyx a bénéficié d’un effet de cut-off, soit un impact favorable cumulé de =20 M€e, au T1.La Direction s’est montrée toujours optimiste pour Dysport (prise de Pd...

Vantiva : Début d’année très décevant

>CA T1 en forte baisse malgré l’intégration de Commscope Home Networks - Vantiva a publié hier soir son CA au titre du T1 2024. Il s’avère très décevant, en baisse de 20% à 458 M€ (vs ODDO BHF = 607 M€) malgré l’intégration de Commscope Home Networks (contribution non communiquée vs 221 M€ dans notre modèle initial). La division Maison Connectée (-22% à 358 M€ vs ODDO BHF = 506 M€) pâtit d’une base de comparaison élevée, de déstockages et du ralentissement des in...

Saipem : New strategy is paying off, but we remain conservative

After some rough years, the change in Saipem’s strategy towards less risky projects and a higher share of E&C Offshore activities amid the O&G industry “super-cycle” seems to be paying off. The company has been able to increase its margins, while the backlog is strong, providing good visibility over next years. The capital increase carried out in 2022 on top of positive FCF put Saipem at a better financial position than before the Covid-19 crisis. While the overall outlook is pos...

Exail Technologies : Solide niveau d’activité au T1 et des perspective...

>T1 en hausse de 16% et prises de commandes de nouveau excellentes - Exail Technologies a publié hier soir un CA T1 supérieur à nos attentes, en hausse de 16% y-o-y à 79.5 M€ (vs 75.5 M€e). La division Navigation & Robotique maritime affiche une croissance de 18% y-o-y à 60.8 M€ grâce à la forte accélération des livraisons de centrales inertielles (dans la ligne du T4 2023) alors que sur la robotique sous-marine, le groupe continue de bénéficier du programme belgo-né...

Parrying lower utilisation with more cost cuts

15% EBITA miss, weaker across the board

Société Générale : Le RN au T1 2024 va rester pénalisé par des charges...

>Des revenus d’intérêt en France encore impactés par les couvertures - La Société Générale publiera son RN du T1 2024 le 3 mai prochain, qui restera faible en niveau absolu, impacté par différents éléments non récurrents. Nous prévoyons des revenus de 6 729 M€ (+0.9%) supérieurs au consensus (6 396 M€), du fait de notre hypothèse d’une charge plus faible au niveau du corporate center, mais également de prévisions de revenus supérieurs au consensus en banque de détail...

Societe Generale : Q1 2024 earnings set to be penalised by non-recurri...

>Interest income in France still affected by hedging - Société Générale is set to report its Q1 2024 earnings on 3 May, which will remain weak in absolute terms, affected by various non-recurring items. We expect revenues of € 6,729m (+0.9%) higher than the consensus (€ 6396m), due to our assumption for a lower charge at the level of the corporate centre, but also our estimates for revenues in French retail banking, global markets activities and mobility which are ab...

GL Events : Very good Q1, in line with FY 2024 guidance, unchanged at ...

>Q1: sales up 10% to € 386.5m - GL Events reported Q1 sales of € 386.5m, up 10%, beating our estimate (+5%). By division:Live (services, 58% of 2023 sales): sales came to € 192.4m (+31% LFL vs Q1 2023), driven by the roll-out of Olympics-related projects (€ 33m) as well as the usual events that take place in the first quarter (the agriculture fair in Paris, the Hermès horse jumping competition, etc.). Abroad, the group saw a pick-up in sales in China and a strong...

Mersen : A good start to the year

>Q1 sales come out 1.5% higher than we expected - Mersen posted Q1 sales of € 312.5m (€ 308.1m est.) vs € 301.7m, i.e. +3.6% and +6.8% organic (+3% for our own forecast). Both divisions delivered growth, including 8.9% organic growth for Advanced Materials and 4.2% for Electrical Power. This is a solid performance considering that base effects were unfavourable (+18.3% organic in Q1 2023, of which +19.2% for EP and +17.5% for AM).Full-year guidance confir...

Due diligence: Europe (finally) gives its green light

>The European Parliament votes in favour of the due diligence directive - After several political U-turns, European MEPs have finally approved in a plenary session the proposed directive on the due diligence (CS3D).While the final text was significantly watered down compared with the Commission’s initial proposal (smaller scope of companies covered, restricted application to the value chain with a principal focus on upstream activities, more limited civil respons...