Faurecia : Release was very solid, enthusiasm possibly less so
>Earnings release backs up our preference for low-tech stocks... - Faurecia's solid earnings report was welcomed by a strong increase in the share price yesterday. It bears out our view that auto suppliers are not all equal vis-Ã -vis the deterioration in the environment and that some are showing greater flexibility and agility than others. Faurecia falls into this category, as does Plastic Omnium, unlike technological suppliers such as Valeo and Continental (see Conti...Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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