reports
- Alvaro del Pozo
- Emira Sagaama
- Robert Jan Vos
- Thomas Zlowodzki
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ORA ORANGE SA
TKA TELEKOM AUSTRIA AG
GFC GECINA SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
EN BOUYGUES SA
RXL REXEL SA
AMUN AMUNDI SA
BLND BRITISH LAND COMPANY PLC
CARL B CARLSBERG A/S CLASS B
AIR AIRBUS SE
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
ASML ASML HOLDING NV
VK VALLOUREC SA
TEN TENARIS S.A.
- Emira Sagaama
- Robert Jan Vos
- Thomas Zlowodzki
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ORA ORANGE SA
TKA TELEKOM AUSTRIA AG
GFC GECINA SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
EN BOUYGUES SA
RXL REXEL SA
AMUN AMUNDI SA
BLND BRITISH LAND COMPANY PLC
CARL B CARLSBERG A/S CLASS B
AIR AIRBUS SE
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
ASML ASML HOLDING NV
VK VALLOUREC SA
TEN TENARIS S.A.
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
- Maissa Keskes
- Stephane Houri
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: Pre-close 3Q: HAL inclusion. Ahold Delhaize: Peer Albertsons 2Q25/26 results. AMG: Lithium supply deal with Beijing Easpring. ASML: 3Q25 results supportive. Barco: 3Q25 trading update inline, surprise buyback. Belgian telcos: Start of the market test for cooperation agreement in Flanders. CM.com: Preview 3Q25 trading update. NSI: Vacancy increase as expected, marginal guidance update. Staffing sector: PageGroup 3Q25 trading update. Zabka: 3Q25 Preview - Like-for-Like(...
- Guy Sips
- Jacob Mekhael
- Mathijs Geerts Danau
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Thibault Leneeuw
ASML FY25 outlook in line with CSS, 2026 will not be below 2025
ASML reported 3Q25 revenues below expectations, yet the outlook for 4Q25 is ahead of CSS. ASML expects approximately 15% sales growth in 2025 in line with CSS (14.4%). Despite the revenue miss, net earnings were slightly better than expected due to lower SG&A, R&D and net interests. ASML expects 2026 sales not to be below 2025, as Chinese demand will be significantly lower. Net bookings came in above a low CSS estimate. We would like to see a very strong order intake in 4Q25 before we lose visib...
- Maissa Keskes
- Stephane Houri
- Research Department
INFORME DIARIO 15 OCTUBRE + RDOS. EUROPA 3T’25. PREVIEWS (ANÁLISIS BAN...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENAGÁS, INMOBILIARIA COLONIAL, VISCOFAN. EUROPA: ASML, INTESA SANPAOLO, LVMH, UNICREDIT. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’25 que se publicarán en España y Europa en los próximos días. De nuevo, el frente comercial Correcciones en los índices de Europa, enfrascados en el enfrentamiento come...
ASML reports €7.5 billion total net sales and €2.1 billion net income ...
ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025 ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025 Full-year 2025 expected total net sales growth of around 15% with gross margin around 52% VELDHOVEN, the Netherlands, October 15, 2025 – Today, ASML Holding NV (ASML) has published its 2025 third-quarter results. Q3 total net sales of €7.5 billion, gross margin of 51.6%, net income of €2.1 billionQuarterly net bookings in Q3 of €5.4 billion2 of which €3.6 billion is EUVASML expects Q4 2025 total net sales between €9.2 billion an...
Singapore Land Transport Authority enhances critical railway infrastru...
Singapore Land Transport Authority enhances critical railway infrastructure with Nokia Optical LAN and IP solutions Press ReleaseSingapore Land Transport Authority enhances critical railway infrastructure with Nokia Optical LAN and IP solutions Land Transport Authority (LTA) revamps its video transport network to support advanced security and high-resolution video services.Nokia fiber Optical LAN and IP/MPLS solutions used to help LTA upgrade its CCTV system across 50+ train stations located across Singapore.Upgraded LTA video transmission network ensures safety for millions of passengers...
- ABGSC Telecom Equipment Research
- Daniel Thorsson
- Øystein Elton Lodgaard
- Simon Granath
- Pierre FerraguÊ
Semicon West: 2026 outlook? Does AI drive growth? DRAM architectures? ...
Last week we attended the 2025 edition of the Semicon West conference, the key event for investors focused on the semiconductor equipment market. Over two days we hosted more than a dozen meetings with companies across the semiconductor value chain. Here are our key takeaways.
TSFA TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD. SPONSORED ADR
NVDA NVIDIA CORPORATION
MU MICRON TECHNOLOGY INC.
LRCX LAM RESEARCH CORPORATION
AMAT APPLIED MATERIALS INC.
BSI BE SEMICONDUCTOR INDUSTRIES N.V.
2330 TSMC
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
8035 TOKYO ELECTRON LTD.
KLAC KLA CORPORATION
AMD ASML HOLDING N.V.
ASML ASML HOLDING NV
AVGO ADVANCED MICRO DEVICES INC.
SOH1 ASML
BESI BROADCOM INC.
SOITEC
- Pierre FerraguÊ
Downgrading Micron: Cyclical patterns should prevail, even along secul...
Memory fundamentals are strong, with HBM demand rising alongside a recovery in conventional memory, while supply stays tight. We expect a series of earnings beats over the coming quarters. However, Micron trades at peak multiples, and we expect those beats to be offset by continued multiple compression, consistent with past cycles—likely resulting in muted stock performance. We therefore downgrade Micron to Neutral, with a $190 target. For now, we prefer TSMC. It offers AI exposure comparable ...
- Julian Dobrovolschi
PUB PUBLICIS GROUPE SA
GIVN GIVAUDAN SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
ADEN ADECCO GROUP AG
LSEG LONDON STOCK EXCHANGE GROUP PLC
FHZN FLUGHAFEN ZURICH AG
RAND RANDSTAD NV
ZAL ZALANDO SE
RIO RIO TINTO PLC
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
AGN AEGON N.V.
- Julian Dobrovolschi
PUB PUBLICIS GROUPE SA
GIVN GIVAUDAN SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
ADEN ADECCO GROUP AG
LSEG LONDON STOCK EXCHANGE GROUP PLC
FHZN FLUGHAFEN ZURICH AG
RAND RANDSTAD NV
ZAL ZALANDO SE
RIO RIO TINTO PLC
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
AGN AEGON N.V.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.