• Most Popular
  • Most Shared

STOCKS NEWS EUROPE-Reaffirmed outlook lifts Smartrac

Thu Jul 30, 2009 6:18am EDT

Stocks

   

Shares in Smartrac (SM7.DE) gain 8 percent, making them the top gainers among German tech stocks .TECDAX, after the wireless card specialist reports largely in-line second-quarter figures and reaffirms its outlook for 2009. "We see Smartrac with good prospects," writes DZ Bank analyst Harald Schnitzer in a note to clients.

Berenberg analyst Gunnar Cohrs points to Smartrac affirming its outlook: "Although visibility is low, business is expected to improve in the second quarter backed by a better US ePassport business and a recovery in the automotive industry."

UBS analyst Joern Iffert reiterates the brokerage's neutral stance on the Smartrac, but points to signs of a recovery and says ePassport and automotive operations should help generate sales in the second half of 2009.

Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net


More from Reuters

Photo

Obama reaches climate deal with emerging powers

COPENHAGEN (Reuters) - President Barack Obama forged a climate pact with major developing nations including China on Friday but European nations only reluctantly signed up for a deal they criticized as unambitious. | Video

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review