• Most Popular
  • Most Shared

STOCKS NEWS EUROPE-Johnson Matthey falls on gloomy outlook

Thu Jun 4, 2009 6:25am EDT

Stocks

   

Shares in Johnson Matthey (JMAT.L) shed 4.3 percent after the company's gloomy short-term outlook overshadows its full-year results, in which pretax profit of 267.9 million pounds beat consensus analyst expectations of 255.2 million pounds.

Charles Stanley says, the "outlook statement is grim, pointing to no sign of any improvement so far in demand for automotive products".

Merrill Lynch sees the shares as fair value, noting the short-term outlook concern, but saying the balance sheet is surprisingly positive, with net debt standing at 534 million pounds again 586 million pounds consensus estimates.

For more double click on [ID:nL353392]

Reuters Messaging rm://david.brett.reuters.com@reuters.net


More from Reuters

Photo

U.S. FTC sues Intel for abusing market dominance

WASHINGTON (Reuters) - The U.S. government filed suit against Intel Corp on Wednesday, accusing the chip giant of illegally using its market dominance to stifle competition for a decade.

» More Top News
Federal Reserve Chairman Ben Bernanke is pictured at his Senate Banking, Housing and Urban Affairs Committee hearing on his nomination to continue as Chairman of the Board of Governors, on Capitol Hill in Washington, December 3, 2009. REUTERS/Jason Reed

No great expectations

Investors are getting antsy about when the Fed will tighten its purse strings, now that the economy appears to be coming back to life.   Full Article 

ECONOMY
A long-range, improved Sejil 2 missile is test-fired in the desert at an unknown location in Iran in this Iranian military handout distributed by Fars news agency on December 16, 2009.

Iran tests upgraded missile

Hardline rulers send uncompromising signals to foes at home and abroad, testing a missile that could reach Israel and warning of legal action against opposition leaders.  Full Article | Video 

Iran