Cash bond markets are slightly overstating credit risk with a YTW of 5.423% relative to an Intrinsic YTW of 4.903% and a CDS of 72bps relative to an Intrinsic CDS of 28bps. Meanwhile, Moody's is overstating MU's fundamental credit risk with its Baa3 credit rating, two notches below Valens' IG4+ (Baa1) credit rating. Incentives Dictate Behavior™ analysis highlights mixed signals for credit holders. As positives, management members are material owners of MU equity relative to their annual compens...
Credit markets are slightly overstating CIEN's credit risk with a YTW of 6.602% relative to an Intrinsic YTW of 5.862% and an Intrinsic CDS of 115bps. Furthermore, Moody's is overstating the company's fundamental credit risk, with its speculative Ba1 credit rating three notches lower than Valens' IG4+ (Baa1) credit rating. Incentives Dictate Behavior™ analysis highlights mostly negative signals for credit holders. As a positive, management has low change-in-control compensation relative to thei...
>En dessous de attentes en topline et bottom line - Les revenus T1 sont en baisse de 2% à 32.8 M€ (-24% vs css) avec des ventes de produits stables à 32.1 M€ (-21% vs css). Cette performance décevante s’explique principalement par des problèmes d'approvisionnement sur Ixiaro qui ressort en baisse de 5% (-34% vs css). Dukoral affiche une croissance de 10% à 11.3 M€ (+18% vs css) soutenue par la reprise du marché du voyageur. Comme prévu, la distribution pour tiers (-9%...
Credit markets are slightly overstating HOLX's credit risk with a YTW of 6.029% relative to an Intrinsic YTW of 5.409% and an Intrinsic CDS of 77bps. Furthermore, Moody's is overstating the company's fundamental credit risk, with its speculative Ba1 credit rating three notches lower than Valens' IG4+ (Baa1) credit rating. Incentives Dictate Behavior™ analysis highlights positive signals for credit holders.HOLX's compensation framework incentivizes management to improve all three value drivers:...
>Beat in rental income and earnings driven by positive one-offs FY2024 outlook: EBITDA excl. gains/losses on RE investments increased to CHF 300m (was CHF 295m before), for a large extend due to one-off benefits.Like-for-like growth 6.6%, adjusted for two one-off effects 3.3% (FY2023 5.1%). Positive revaluations CHF 31.2m (FY2023 -161.3m or -1.7%). Regular revaluations are done semi-annually and changes in Q1 are due to property-specific changes.PSP d...
>Q1 2024 results look broadly in line with our expectations - Norma’s Q1 2024 reported group sales are down 2% y-o-y to € 309m (in-line with ODDO BHF; -1% vs css) with an organic growth rate of -1%. Group adj. EBIT is +14% y-o-y to € 25.7m (+1% vs ODDO BHF& css) with an adj. EBIT margin of 8.3% in the quarter under review. The sequential improvement of Norma’s adj. EBIT margin (Q1 2023: 7.2%; Q4 2023: Q1 2024: 8.0%) is said to be driven by a more efficient production...
>Pressure on underlying EBITDA less than expected - A good first set of results for the new Solvay, with Q1 24 group revenues of € 1,201m (+6% vs ccs) reflecting -11.9% yoy organic growth mainly as a consequence of lower prices (-14.5% yoy), partially offset by higher volumes (+2.5% yoy). Q1 24 underlying EBITDA came in much stronger than expected at € 265m (-27.2% yoy, -13.6% organically given the exit from the thermal insulation and energy third parties operations) ...
Suominen Corporation’s Interim Report for January 1 – March 31, 2024: Gradual improvement in profitability Suominen Corporation’s Interim Report on May 7, 2024, at 9:30 a.m. (EEST)Suominen Corporation’s Interim Report for January 1 – March 31, 2024: Gradual improvement in profitability 1-3/1-3/1-12/KEY FIGURES202420232023Net sales, EUR million113.6116.8450.9Comparable EBITDA, EUR million4.52.615.8Comparable EBITDA, %3.92.33.5EBITDA, EUR million4.72.611.2EBITDA, %4.12.32.5Comparable operating profit, EUR million-0.1-2.0-2.8Comparable operating profit, %-0.1-1.7-0.6Operating profit, EUR mil...
Suominen Oyj:n osavuosikatsaus 1.1.-31.3.2024: Kannattavuus paranee asteittain Suominen Oyj:n osavuosikatsaus 7.5.2024 klo 9.30Suominen Oyj:n osavuosikatsaus 1.1.-31.3.2024: Kannattavuus paranee asteittain AVAINLUKUJA 1-3/1-3/1-12/ 202420232023Liikevaihto, milj. euroa113,6116,8450,9Vertailukelpoinen käyttökate, milj. euroa4,52,615,8Vertailukelpoinen käyttökate, %3,92,33,5Käyttökate, milj. euroa4,72,611,2Käyttökate, %4,12,32,5Vertailukelpoinen liikevoitto, milj. euroa-0,1-2,0-2,8Vertailukelpoinen liikevoitto, %-0,1-1,7-0,6Liikevoitto, milj. euroa0,1-2,1-7,5Liikevoitto, %0,1-1,8-1,7Raporto...
Cnova N.V. - Appointment of new non-executive director and Notice of the 2024 Annual General Meeting of Shareholders CNOVA N.V. Appointment of new non-executive director and Notice of the 2024 Annual General Meeting of Shareholders Amsterdam – May 7, 2024, 08:30 CEST — Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova” or the “Company”) announces that Mrs. Béatrice Davourie was appointed as replacement non-executive director and Chairman of the Board of Cnova NV, effective as per May 10, 2024. Mrs. Davourie serves as General Counsel at the Casino Group. Prior to joining Ca...
Cnova N.V. - Nomination d’une nouvelle Administratrice non-exécutive et Convocation à l’Assemblée Générale des actionnaires 2024 CNOVA N.V. Nomination d’une nouvelle Administratrice non-exécutive et Convocation à l’Assemblée Générale des actionnaires 2024 Amsterdam – Le 7 mai 2024, 8h30 CEST — Cnova N.V. (Euronext Paris : CNV ; ISIN : NL0010949392) (« Cnova » ou la « Société ») annonce que Mme Béatrice Davourie a été nommée en tant qu’Administratrice non-exécutive remplaçante et présidente du Conseil d’Administration de Cnova N.V., à compter du 10 mai 2024. Mme Davourie occupe le post...
MONTPELLIER, France--(BUSINESS WIRE)-- Regulatory News: Sensorion (FR0012596468 – ALSEN) a pioneering clinical-stage biotechnology company which specializes in the development of novel therapies to restore, treat and prevent within the field of hearing loss disorders, today announces that the Company’s shareholders are invited to participate in the Combined General Meeting, to be held on Wednesday, May 29, 2024, at 2pm CET in the premises of the hotel Square Louvois, located at 12, rue de Louvois, 75002, Paris, France. The prior notice of meeting comprising the agenda and draft resolutions...
MONTPELLIER, France--(BUSINESS WIRE)-- Regulatory News: Sensorion (FR0012596468 - ALSEN), société de biotechnologie pionnière au stade clinique, spécialisée dans le développement de nouvelles thérapies pour restaurer, traiter et prévenir les troubles de la perte auditive, annonce que les actionnaires de la Société sont invités à participer à l’Assemblée générale mixte qui se tiendra le mercredi 29 mai 2024 à 14h00 CET, dans les locaux de l’hôtel Square Louvois, situé 12, rue de Louvois, 75002 Paris, France. L’avis de réunion valant avis de convocation, comportant l’ordre du jour et les pro...
Credit markets are overstating credit risk with a YTW of 6.853% relative to an Intrinsic YTW of 6.083% and an Intrinsic CDS of 139bps. Meanwhile, credit markets are materially overstating the firm's fundamental credit risk, with its Ba3 credit rating five notches lower than Valens' IG4+ (Baa1) credit rating. Incentives Dictate Behavior™ analysis highlights mixed signals for credit holders. As a positive, management members are material owners of PBF equity relative to their annual compensation,...
Credit markets are overstating credit risk, with a cash bond YTW of 6.901% relative to an Intrinsic YTW of 6.001% and an Intrinsic CDS of 134bps. Furthermore, Moody's is materially overstating TDG's fundamental credit risk with its highly speculative B1 credit rating five notches below Valens' IG4 (Baa2) credit rating. Incentives Dictate Behavior™ analysis highlights mostly negative signals for creditors. That said, most anagement members have low change-in-control compensation relative to thei...
A director at First National Financial Corporation maiden bought 10,000 shares at 36.764CAD and the significance rating of the trade was 75/100. 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 o...
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