Kinder Morgan Inc: 1 director

A director at Kinder Morgan Inc sold 230,000 shares at 18.820USD 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 two years clea...

EBIT 5-7% above estimates

Rebasing the European expansion

ABGSC Shipping Daily 25 April

Mixed tanker and dry bulk market, LPG down. Shipping peer group trades at P/NAV 0.84x. Dry bulk sector report: It's the fleet growth, stupid! HAUTO Q1 review: Still strong outlook, but later NB deliveries.

SOLTEC : Adapting estimates to strategic realignment

>Updating estimates on strategic realignment - We are updating our estimates (-10% in average EBITDA 2024-25e) and valuation (-26%) of Soltec following the reclassification of 2023 results and its strategic realignment (stricter focus on the tracker segment with a reduction in the construction service activity and more selective approach in Energy projects). The company will update its financial guidance for 2024 when releasing Q1 2024 results and could update its lon...

Iberdrola : 2024 sous de bons auspices

>Opinion Surperformance et OC 14.4 € maintenus - Les résultats du T1 24 sont ressortis un peu au-dessus de nos attentes mais globalement en ligne avec le consensus. Comme attendu, la stratégie de résilience du groupe lui permet de bénéficier, sur ce trimestre, de la progression des activités régulées grâce à la croissance de la base d’actifs. Cela a permis de largement compenser une activité de génération bénéficiant certes d’un bon niveau d’hydrométrie sur la péninsu...

Atlas Copco : Un très bon début d’année et des signaux positifs sur le...

>T1 2024 : prises de commandes supérieures de 9% aux attentes - Atlas Copco a publié hier, en journée, ses résultats T1 2024 (voir tableau en page 2).Les prises de commandes étaient en recul organique de 4% yoy (css à -12,7%) mais 9% au-dessus des attentes du consensus (Compressor Technique en recul de -1% en organique vs -12.9% attendus par le css).Le CA a progressé de 7% en organique (css à 5.6%), dont notamment 8% pour Compressor Technique, 9% pour Power ...

Prada SpA : The Miu Miu moment

>Organic growth still very robust in Q1 at +16.5%, upside undermined by a forex impact of 5 pt - The group’s Q1 2024 revenues reached € 1,187.2m, i.e. +11.5% y-o-y and +16.5% y-o-y at cc (Q4 2023: +18.1% cc), with retail sales at € 1,071.4m, i.e. 17.9% y-o-y at cc (Q4 2023: +17.4%). The Visible Alpha consensus had pointed to revenues in the region of € 1,164m, with organic growth at 13.6% (and retail sales of around € 1,047m, +13.7%), while our revenue forecast was ...

Old Second Bancorp Inc: 1 director

A director at Old Second Bancorp Inc sold 40,267 shares at 14.556USD and the significance rating of the trade was 68/100. 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 two years ...

The worst is likely behind us

Up to HOLD (Sell), TP SEK 250 (245), '24e-'26e EBITA down 2-1%; 3% CAGR '23-'26e, Demolition weakness likely to persist until H2'24.

16% EBITA beat, strong Nordic performance

KONE : Un T1 qui rassure, la guidance 2024 est précisée

>Un T1 un peu meilleur qu’attendu - KONE a publié hier matin des résultats T1 un peu meilleurs qu’attendu. Les commandes progressent de 1.6% à changes constants (css à 0.9%), grâce notamment au segment modernisation qui progresse de plus de 10%. Le chiffre d’affaires a augmenté de 2.7% à changes constants au T1 (consensus : +2.3%), avec une Chine en recul de 4.9%. En termes d’activité, les nouveaux équipements reculent (-4.2% à changes constants), les services (+9%) e...

Assa Abloy : Start of year in decline (-4% by volume), set to mark low...

>Q1 2024: volumes at -4% for top line, but margins still very solid - The group’s Q1 2024 results, reported yesterday morning, were in line with expectations at the operating level. Revenues came in 2% lower in organic terms, with -4% of volume effect (4th straight quarter of negative volumes, after -2% in Q4) and +2% of price effect.Adjusted EBIT came to SEK 5.4bn, up 4.6%, while the margin narrowed 60bp to 15.4%, just ahead of expectations (15.2%). The acquisit...

Volkswagen (pref) : China ambitions again reiterated, but still requir...

>Near-term challenges remain, improvement thereafter unlikely to be pencilled in - VW held a CMD in China yesterday (PR link), where the OEM reaffirmed and detailed its "China for China" strategy in the country and its ambitions. In a nutshell, our view would be that there was not much news from VW, with the China story still requiring both a lot of faith and patience. As VW management once again seems to be emphasizing, the next two years (at least) will remain chall...

KONE : A reassuring Q1, 2024 guidance fine-tuned

>A better-than-expected Q1 - Yesterday morning, KONE published Q1 results that were a shade better than expected. Order intake was up by 1.6% at constant currency (cons. at 0.9%), notably thanks to the modernisation segment which grew by more than 10%. Sales were up by 2.7% at constant currency in Q1 (consensus: +2.3%), with a 4.9% decline in China. In terms of activity, new equipment declined -4.2% at constant currency, while services (+9%) and modernisation (+5.3%)...

Postviews 2023 S&M Cap : ça passe ou ça casse

>Des résultats 2023 globalement satisfaisants – Entrée en récession au T4 mais bonne tenue des marges - Forsee Power vient de clôturer la période des publications 2023 de notre univers de sociétés S&M Cap en France (CA annuel