Travelusacc Discussion Threads

[ariane] 24/8/2005 12:48

Alcatel "buy"

Wednesday, August 24, 2005 6:48:18 AM ET
Jyske Bank

LONDON, August 24 (newratings.com) - Analysts at Jyske Bank maintain their "buy" rating on Alcatel (CGE.ETR).

In a research note published this morning, the analysts mention that the company's stock is trading at a discount to that of its peer group. Alcatel is poised to offer several positive surprises during the near term, the analysts say. US telecom equities are raising their investment levels, Jyske Bank adds.

[grupo guitarlumber] 22/8/2005 20:46

Alcatel "neutral," estimates reduced

Monday, August 22, 2005 9:06:09 AM ET
UBS

LONDON, August 22 (newratings.com) - Analysts at UBS maintain their "neutral" rating on Alcatel (CGE.ETR), while reducing their estimates for the company. The target price is set to €10.

In a research note published this morning, the analysts mention that the company's 2Q EPS, excluding one-off tax benefits and capital gains, were short of the reported EPS by about €0.06. The gross margin estimates for 3Q05 and 4Q05 have been reduced by 20bp, while the 3Q05 opex estimate has been raised by €8 million due to reduced underlying profitability in 2Q. Alcatel's operating margins would be the primary driver of the company's share price until the end of 1H06, UBS adds. The EPS estimates for 3Q05 and 4Q05 have been reduced by €0.01, respectively.

[grupo guitarlumber] 29/7/2005 11:35

Alcatel Prospects Not Evident -ETC Pollak

Friday, July 29, 2005 7:07:38 AM ET
Dow Jones Newswires



1048 GMT [Dow Jones]--Alcatel's (ALA) growth prospects aren't evident, says ETC Pollak. Says going forward, "the decline of fixed-line business will continue, the number of competitors for Triple-play equipment will grow and the growth of the 2G mobile market in emerging markets will begin to slow in 2006." Says Alcatel's room to manuever is "by now limited, although not non-existent." Keeps at sell. Stock +1.8% to EUR10.27. (BJL)

[grupo guitarlumber] 28/7/2005 18:58

Alcatel "neutral"

Thursday, July 28, 2005 12:00:30 PM ET
UBS


LONDON, July 28 (newratings.com) - Analysts at UBS maintain their "neutral" rating on Alcatel (CGE.ETR). The target price is set to €10.

In a research note published this morning, the analysts mention that the company reported its Q2 results ahead of the estimates on account of better-than-expected revenues from its mobile communications segment. The analysts believe that Alcatel's EPS guidance for 2005 is modestly weak, given the healthy Q2 results. The company's margins in 2H05 are likely to be lower than the estimates, according to UBS.

[grupo guitarlumber] 28/7/2005 15:47

Alcatel "sell"

Thursday, July 28, 2005 11:07:52 AM ET
Dresdner Kleinwort Wasser.

LONDON, July 28 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "sell" rating on Alcatel (CGE.ETR). The target price is set to €8.40.

In a research note published this morning, the analysts mention that the company has reported flat operating income for 2Q05 on a y/y basis. Alcatel posted negative operating cash flows for the quarter, the analysts say. Alcatel's Q2 revenue growth was, however, healthy, driven by robust demand from the emerging markets of the company's mobile communications segment.

[grupo guitarlumber] 28/7/2005 13:50

Jyske Bank Ups Alcatel To Buy

Thursday, July 28, 2005 7:07:33 AM ET
Dow Jones Newswires




1054 GMT [Dow Jones]--Jyske Bank ups Alcatel (ALA) to buy from reduce, seeing further growth in demand for equipment. "We believe we may be in for more positive surprises after announcements from (companies like) Verizon, that its investment budget would grow by 15% ... instead of the earlier estimate of 10%. We anticipate this is the first step towards lifts in the investment levels of more US telecoms companies." Stock +4% to EUR10.05. (BJL)

[grupo guitarlumber] 28/7/2005 06:43

(Updates with earnings, margins by business segment)
PARIS (AFX) - Alcatel raised its guidance for full-year 2005 after second
quarter results surpassed group expectations.
It now expects sales to grow between 5-8 pct in 2005 on a constant currency
basis and sees EPS at 0.60 eur, up around 40 pct.
Alcatel previously saw sales up 3-5 pct in 2005.
The company had already given preliminary details of second quarter results
early this month, including the operating margin but today revealed its gross
operating margin fell to 35.6 pct from 40.8 pct a year earlier.
The group expects third quarter sales to rise 5-7 pct on a constant currency
basis, helped by an anticipated rebound in fixed-line demand in the second half.
It said second quarter sales beat its expectations in all three business
segments, notably mobile operations, where operating profit rose to 115 mln eur
from 70 mln, giving a 12 pct margin.
Group operating profit was 263 mln eur, up from 257 mln eur a year earlier
and after 107 mln in the previous quarter, giving an 8.3 pct margin.
EPS was 0.14 eur, up from 0.07 and after 0.09 in the first quarter.
By activity, second quarter operating profit in fixed activities was 120 mln
eur, up from 167 mln and after 50 mln in the previous quarter, giving a 9.8 pct
margin and private communications rose to 59 mln from 40 mln a year earlier and
from 34 mln in the first quarter, giving a 6.0 pct margin.
CEO Serge Tchuruk commented: "we continue to operate in a competitive
environment leading to pricing pressure" but said cost savings has helped
stabilize the margin.
R&D cost over the second quarter totalled 341 mln eur or 10.8 pct of sales.
Alcatel had net cash of 449 mln eur at the end of June.
[e-mail]
mrg/jfr

[grupo guitarlumber] 28/7/2005 06:20

PARIS (AFX) - Alcatel raised its guidance for full-year 2005 after second
quarter results surpassed group expectations.
It now expects sales to grow between 5-8 pct in 2005 on a constant currency
basis and sees EPS at 0.60 eur, up around 40 pct.
[e-mail]
mrg/jfr

[waldron] 25/7/2005 17:18

Alcatel "sell"

Monday, July 25, 2005 11:47:08 AM ET
Dresdner Kleinwort Wasser.


LONDON, July 25 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "sell" rating on Alcatel (CGE.ETR). The target price is set to €8.40.

In a research note published this morning, the analysts mention that the company is scheduled to report its Q2 results on July 12. The focus is likely to be on the quality and composition of Alcatel's earnings in view of the company's pre-announcement of higher-than-expected operating margins and sales, the analysts say. The company's balance sheet does not provide adequate cover for either a significant change in the cost structure or sustained cash outflows, Dresdner Kleinwort Wasserstein adds.

[ariane] 20/7/2005 12:45

MILAN (AFX) - Telecom Italia SpA said it is launching trials to supply
internet services via the TV in Rome, Milan, Bologna and Palermo, and plans a
commercial launch in 21 cities in the Autumn.
The service will be available with the use of a television set-top box
linked to Telecom Italia's 4 megabit/second ADSL internet access and will
provide films, news, sport and other events.
"Telecom Italia has launched free trials of the internet TV service, which
initially involves more than a thousand families in four cities," it said.
The commercial phase will extend to a potential market of 4 mln families in
the 21 cities, it said.
A spokesman said customers will not require a personal computer, just the
set-top box, while tariffs for the commercial service are not available yet.
Alcatel will supply set-top box and ADSL technology, Microsoft Corp its
software platform, and Pirelli & C SpA a broadband router, it said.
nt/ec

[waldron] 14/7/2005 18:19

Alcatel "reduce"

Thursday, July 14, 2005 8:56:55 AM ET
Jyske Bank


LONDON, July 14 (newratings.com) - Analyst Per Kongsgaard of Jyske Bank reiterates his "reduce" rating on Alcatel (CGE.ETR). The 12-month target price is set to €10.

In a research note published this morning, the analyst mentions that the company has pre-announced its 2Q EPS ahead of the consensus due to a tax gain and a one-off gain. Alcatel expects to post its sales for the quarter ahead of and operating margins in-line with the consensus, the analyst says. The company has reiterated its sales and operating margin guidance for the full year. The uncertainty surrounding Alcatel's near-term margins warrants the "reduce" rating, Jyske Bank adds.

[waldron] 14/7/2005 06:46

CSFB Raises Alcatel Target Price

Thursday, July 14, 2005 2:31:38 AM ET
Dow Jones Newswires



0622 GMT [Dow Jones] CSFB raises Alcatel (ALA) target price to EUR8.6 from EUR8, following positive pre-announcement of 2Q results. Says "we are adjusting our estimates for both 2Q and for '05/'06, mainly reflecting the strength in mobile systems." But "on a relative basis, Alcatel looks expensive," trading on 17x 2006 EPS and "we would prefer Nokia (trading on 14x 2006 EPS) and Ericsson (trading on 16x 2006 EPS)." Retains neutral rating. Closed at EUR9.94. (AST)

[waldron] 13/7/2005 11:03

Alcatel's 3 Good Points -Oppenheimer

Wednesday, July 13, 2005 4:51:43 AM ET
Dow Jones Newswires



0840 GMT [Dow Jones] Alcatel (ALA) has three things supporting it, says Oppenheimer's Nicolas P. von Stakelberg. "Alcatel has lagged European peers over the last couple of months (and) it may well be 'under-owned' triggering 'technical' buying; investors may start pricing-in Alcatel actually making its full-year targets; most analysts remain skeptical." Keeps neutral rating. Stock +1.1% to EUR9.90. (BJL)

[waldron] 13/7/2005 09:14

Alcatel Cat Is Out Of The Bag - Nomura

Wednesday, July 13, 2005 4:51:44 AM ET
Dow Jones Newswires



0841 GMT [Dow Jones]--At Alcatel (ALA), "the cat is out of the bag," says Nomura's Richard Windsor. Says 2Q data shows emerging markets fueling demand for radio mobile capacity, and the migration to broadband is requiring network upgrades in IP switching and metro optics. Nomura notes, "Alcatel has made the most of its bulging order book, but this announcement underlines that quarterly volatility is probably here to stay." Keeps buy rating. Stock +1.3% to EUR9.93. (BJL)

[waldron] 12/7/2005 07:01

PARIS (AFX) - Alcatel said sales in the second quarter grew faster than
expected, up 8 pct from last year at 3.14 bln eur, due to "strong momentum" in
IP routing and optical transmission, mobile communications, and enterprise
solutions.
The company said growth was "around 10 pct" at constant exchange rates.
In preliminary results for the quarter, ahead of the full announcement on
July 28, Alcatel said the operating margin "amounted to slightly above 8 pct of
revenues."
Diluted EPS was "around 0.13 eur," including a positive impact from tax
income and a one time capital gain.
[e-mail]
jad/ec

[waldron] 11/7/2005 17:57

Alcatel deploys optical multi-service platform for Telmex
July 11, 2005 Paris, France -- Alcatel today announced that it is deploying an optical multi-service transport network for Telmex, Mexico's largest incumbent operator, to support broadband data applications for business and residential users across the country.

The company is deploying its Optical Multi-Service Node (OMSN) systems to provide Mexican business users with Ethernet virtual private networking services such as virtual private LAN services (VPLS), LAN extension, and virtual leased lines (VLL). The company says the project strengthens its presence as a key supplier for Telmex, which already employs the company's DSL solutions and DWDM optical platforms.



"The demand for new communication services is rapidly changing as service providers need viable infrastructures to support broadband service expansion without sacrificing previous investments," remarks Jacques Dunogué, executive vice president and president of Europe and South America for Alcatel. "The Alcatel optical systems answer both requirements by providing Telmex with a multi-service provisioning platform that is cost-optimized to address the convergence of business and residential applications."

Integrating carrier-class packet switching functions, Alcatel says its OMSN systems offer the scalability and flexibility required to converge multiple data traffic streams over a single, end-to-end, managed platform with differentiated Quality of Service. The company says its OMSN product portfolio, which leverages technologies such as MPLS and packet ring, provides a reliable broadband aggregation platform, enabling the delivery of user-centric broadband services including multimedia applications and Ethernet VPN services, as well as the backhauling of GSM and 3G mobile traffic.

[ariane] 06/7/2005 14:13

DrKW Raises Alcatel EPS, Target

Wednesday, July 06, 2005 7:10:00 AM ET
Dow Jones Newswires



1055 GMT [Dow Jones] Dresdner Kleinwort Wasserstein ups Alcatel (ALA) '05 EPS to EUR0.32 from EUR0.29, '06 EPS to EUR0.29 fro EUR0.25, citing impact of strengthening US dollar. Also raises target price to EUR8.40 from EUR8.00. Adds, however, that it is sticking to sell rating, saying Alcatel still faces operational problems, including inflated costs and high cash consumption. Shares +1% at EUR9.08. (SDC)

[ariane] 01/7/2005 17:55

PARIS (AFX0 - Alcatel said its space subsidiary signed a contract to build
and install a communications satellite for Thailand's Shin Satellite Inc.
The Thaicom 5 satellite, with a launch mass of around 2.8 tonnes, is
scheduled for delivery in the second quarter of next year.
No financial details were reported.
[e-mail]
jms/ma

[ariane] 30/6/2005 06:05

PARIS (AFX) - Alcatel CEO Serge Tchuruk said a consolidation of the telecoms
sector would be desirable.
"There are still more players (in the sector) than before the (tech)
crisis," the head of the French telecoms equipment maker told financial daily
Les Echos.
"Everyone is hoping that someone will make the big leap but no one wants to
take that risk themselves."
[e-mail]
jms/jc

[ariane] 28/6/2005 06:21

EADS and Alcatel get green light on Galileo bid

By Kevin J. O'Brien International Herald Tribune
TUESDAY, JUNE 28, 2005


BERLIN European Aeronautic Defense & Space, the maker of Airbus aircraft, and the French equipment maker Alcatel won permission Monday to make a joint bid to oversee construction of a €3.3 billion global satellite navigation system.  
But ultimate approval of the so-called Galileo system of 30 satellites and ground tracking stations, analysts and legislators said, will depend on appeasing EU member states, especially Germany, that are seeking to steer work to their countries.  
"I think it's very important that the profit-sharing be fair, and that's what the European Parliament wants to see happen," said Etelka Barsi-Pataky, a Hungarian who is on the European Parliament's committee on industry, research and energy. "Galileo is the only 'made-in-Europe' project and it's important that it succeeds." 
Rainer Grohe, the European Commission's administrator overseeing Galileo, said he would begin negotiations with EADS and Alcatel for the project, Europe's biggest industrial cooperation since Airbus.  
EADS and Alcatel had been competing against one another for the project but dropped their rival bids and made a joint proposal on June 20. Originally, EADS had bid with the French electronics maker Thales and Britain's Inmarsat Ventures. Alcatel had bid with the Italian defense company Finmeccanica, the Spanish satellite operator Hispasat and Spain's airport operator, Aena.  
"The joint proposal clearly showed better value for the public, the overriding criterion in the decision-making process," said Grohe, the executive director of the Brussels-based Galileo Joint Undertaking, the agency set up to manage the development phase of the system. 
Following Grohe's announcement, Transport Minister Manfred Stolpe of Germany reiterated his request that Galileo return a "corresponding" amount of business to German companies. The German government is contributing €180 million, or $219 million, the most of any EU country, to Galileo.  
Germany is represented in the bidding group through the carmaker DaimlerChrysler, which owns 30.2 percent of EADS. The other major EADS shareholders are the French government and the French technology and media company Lagardère, which together hold a combined 30.2 percent.  
Michael Raab, a Frankfurt-based analyst at Bankhaus Sal. Oppenheim, a private bank, described the German request for minimum guarantees from Galileo as routine and said it was unlikely to derail final negotiations, which Grohe said were expected to be concluded by the end of this year. 
 

[ariane] 24/6/2005 14:10

Alcatel Lowers Expectations - Cheuvreux

Friday, June 24, 2005 6:09:46 AM ET
Dow Jones Newswires



0955 GMT [Dow Jones] Alcatel (ALA) '05 operating margin target of 10% "is a challenging corporate goal, not a guidance," says Cheuvreux, after attending Alcatel roadshow. "This is not new but the fact that Alcatel keeps repeating it lately has enabled consensus expectations to be lowered to 9.1% of sales ... a level with which the company seems to be much more comfortable." Says company may seal, announce triple play contracts with Bell Canada, Qwest or independent Operating Companies (IOCs) in 2H. Keeps underperform. Shares -3.1% to EUR9.14. (BJL)


Alcatel Lowers Expectations - Cheuvreux

Friday, June 24, 2005 6:09:46 AM ET
Dow Jones Newswires



0955 GMT [Dow Jones] Alcatel (ALA) '05 operating margin target of 10% "is a challenging corporate goal, not a guidance," says Cheuvreux, after attending Alcatel roadshow. "This is not new but the fact that Alcatel keeps repeating it lately has enabled consensus expectations to be lowered to 9.1% of sales ... a level with which the company seems to be much more comfortable." Says company may seal, announce triple play contracts with Bell Canada, Qwest or independent Operating Companies (IOCs) in 2H. Keeps underperform. Shares -3.1% to EUR9.14. (BJL)

[ariane] 21/6/2005 18:10

Alcatel "sell"

Tuesday, June 21, 2005 12:05:26 PM ET
Dresdner Kleinwort Wasser.


LONDON, June 21 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "sell" rating on Alcatel (CGE.ETR). The target price is set to €8.

In a research note published this morning, the analysts mention that the two rival consortia bidding for the huge satellite project, Galileo, have submitted a proposal to pursue a joint undertaking. The merger is expected to substantially reduce the contributions from the European taxpayers, the analysts say.

[ariane] 21/6/2005 15:24

Competing groups link to bid for EU's Galileo
Bloomberg News
TUESDAY, JUNE 21, 2005


BRUSSELS European Aeronautic, Defense & Space and Alcatel jointly bid to run a European satellite network that would vie with the U.S. system, pressuring regulators to end a contest between the groups led by the two companies.

European Union regulators had planned to negotiate with the two groups separately on a contract to launch and run the Galileo road, rail, ship and air-traffic control network, one of Europe's largest industrial projects since Airbus.

"The sole way to ensure a 'best value for money' approach for the public sector is to merge," the groups said in a statement sent Monday by Alcatel. Hans Peter Marchlewski, general counselor at the Galileo Joint Undertaking in Brussels, said the agency would rule on the joint proposal on June 27.

The EU expects the future Galileo operators to raise €1.5 billion, or $1.8 billion, to launch the system by the end of 2007 and €150 million a year on average to run it as of 2008, saying commercial markets will make it profitable.

Profitability is not guaranteed because the government-funded U.S. global positioning system, which is designed primarily for defense, is used for free by businesses worldwide.

The prospect of a bidding alliance between EADS and Alcatel emerged in March when the Galileo Joint Undertaking delayed picking a winner for the second time, saying both groups were "capable" operators and parallel contract talks would benefit taxpayers by keeping the contest alive.

In April, EADS and Alcatel said they were willing to cooperate while Rainer Grohe, the Galileo Joint Undertaking executive director, said he opposed an alliance. The two groups are survivors in a contest that began more than a year ago with four bidders.

EADS, the biggest European aerospace company with headquarters in Munich and Paris, has been allied with the French military electronics company Thales and Britain's Inmarsat Ventures. Alcatel of France, the world's No. 1 maker of broadband Internet equipment, has teamed up with the Italian defense company Finmeccanica, the Spanish satellite operator Hispasat and the Spanish airport operator Aena.

Cooperation between the two groups would allow Grohe to avoid making a politically sensitive choice. EU nations like Germany and Spain with space industries are eager to have an industrial stake in Galileo.

The Galileo Joint Undertaking's main shareholders are the European Commission, the 25-nation EU's executive arm, and the European Space Agency, which is funded by national governments.