Travelusacc Discussion Threads

[ariane] 05/2/2004 19:12

LONDON, February 5 (New Ratings) – Analysts at Commerzbank Securities downgrade Alcatel (AAC) from “equal weight” to “underweight.” The target price is set to €11.

[ariane] 05/2/2004 18:51

12.27 euros

[ariane] 05/2/2004 18:24

PARIS (AFX) - Alcatel SA announced a target to improve operating margins by
3 percentage points this year, but a cautious outlook for the first quarter and
full year with its 2003 results prompted a dip in the company's shares.
Those results showed sales were broadly in line with consensus, and
operating profit fell just shy of some estimates, but the market took its lead
from the indifferent outlook.
Alcatel said it is targeting EPS "close to breakeven" for the first quarter
on a constant exchange rate basis, with a "positive" result expected for the
full year 2004.
In a statement accompanying the results, Tchuruk said: "Even if the market
remains uncertain, in view of the book to bill ratio exceeding one for the two
previous quarters, we expect Alcatel should resume growth in 2004, at a constant
exchange rate."
He added that the carrier market is still difficult to predict, and currency
fluctuations are "further clouding the issue."
At 5.09 pm, Alcatel shares were 0.34 lower at 12.18 eur. The CAC-40 was 4.24
higher at 3,611.81 points.
"Alcatel sales were in-line but operating profit and margins came in below
our forecasts," said one London based dealer.
But more important he said was the group's outlook for the first quarter.
"Alcatel said it expects first quarter sales to be flat. We had been looking
for a 2 pct increase," he said.
Speaking in a conference call with analysts after the results, Alcatel chief
executive Serge Tchuruk said operating margin growth of 3 points is possible in
2004 if planned restructuring measures are fully implemented.
In the fourth quarter 2003, the group pushed the operating margin up to 8.8
pct from 5 pct in the previous quarter.
That improvement will come on the back of the last phase of the company's
restructuring programme, which may see the company cut as much as 10 pct of its
workforce by the end of 2004.
Alcatel's fourth quarter sales were up 29.4 pct from the third quarter at
3.765 bln eur but down from a restated 4.377 bln a year earlier. Operating
profits were "at the high end of our expectations," according to Tchuruk, at 331
mln eur, up from 146 mln in the third quarter and a restated 40 mln last year.
The company posted a full year operating profit of 332 mln eur against a
restated loss of 606 mln the year earlier, while sales fell 21.9 pct, or 16 pct
at constant currencies, to 12.513 bln.
Analysts had forecast full year operating profit of 297-436 mln eur.
In the conference call Tchuruk said Alcatel wants to agree shortly a
partnership for its mobile phone operations and for its fibre optics activities.
He said the company has "several" interesting options for mobile phone
partners.
"Discussions are continuing and we hope to conclude (a deal) with one of
them in the near future," he said.
A variety of candidates have emerged as possible partners, including Chinese
group TCL. Alcatel's mobile operations are operating at a loss at the moment and
the company has only a small share of the global market.
He added that Alcatel wants to keep mobile handsets as a key activity.
In fibre optics, "negotiations are ongoing, and its not impossible that they
will successfully conclude quickly," Tchuruk said.
Alcatel has agreed to divest its optical components business to US firm
Avanex and cable maker Nexans said Monday it has offered to buy Alcatel's optic
fibre business.
jad/cml

[ariane] 05/2/2004 18:15

LONDON, February 5 (New Ratings) – Analyst Vidar Kalvoy of DZ Bank reiterates his “sell” rating on Alcatel

[maywillow] 05/2/2004 13:12

PARIS (AFX) - Alcatel SA wants to agree shortly a partnership in mobile
phones and in fibre optics, chief executive officer Serge Tchuruk said.
Speaking on a conference call following the release of full year results,
Tchuruk said the company has "several" interesting options.
"Discussions are continuing and we hope to conclude (a deal) with one of
them in the near future," he said.
A variety of candidates have emerged as possible partners, including Chinese
group TCL. Alcatel's mobile operations are operating at a loss at the moment and
the company has only a small share of the global market.
He added that Alcatel wants to keep mobile handsets as a key activity.
In fibre optics, "negotiations are ongoing, and its not impossible that they
will successfully conclude quickly," Tchuruk said.
Alcatel has agreed to divest its optical components business to US firm
Avanex and cable maker Nexans said Monday it has offered to buy Alcatel's optic
fibre business.
ef/jad/jkm/

[maywillow] 05/2/2004 09:54

PARIS (AFX) - Alcatel SA chief executive officer Serge Tchuruk said
operating margin growth of 3 points in 2004 is possible if planned restructuring
measures are fully implemented.
Speaking in a conference call with analysts, Tchuruk also said the company
may cut as much as 10 pct of its workforce by the end of 2004.
Alcatel earlier said said it expects to post earnings per share "close to
breakeven" for the first quarter on a constant exchange rate basis, with
positive earnings expected for the full year 2004.
The company's full-year net loss narrowed to 1.944 bln eur after a loss of
4.745 bln eur last year.
[e-mail]
lwl/jms

[waldron] 05/2/2004 07:58

PARIS (AFX) - Alcatel said it expects to post EPS "close to breakeven" for
the first quarter on a constant exchange rate basis, with a positive result
expected for the full year 2004.
Chairman and CEO Serge Tchuruk said: "Even if the market remains uncertain,
in view of the book to bill ratio exceeding one for the two previous quarters,
we expect Alcatel should resume growth in 2004, at a constant exchange rate."
The company posted a full year operating profit of 332 mln eur against a
restated loss of 606 mln the year earlier, while sales fell 21.9 pct, or 16 pct
at constant currencies, to 12.513 bln. The gross margin was 32.8 pct, a six
point improvement over 2002.
The net loss amounted to 1.944 bln eur or 1.46 eur per diluted share and
included 1.314 bln eur of restructuring charges and 578 mln eur of goodwill
amortization charges. It compares to a loss of 4.745 bln eur last year.
Fourth quarter sales were up 29.4 pct from the third quarter at 3.765 bln
eur but down from a restated 4.377 bln a year earlier. The gross margin
"remained strong at 33.2 pct," the company said, "despite the usual fourth
quarter unfavorable product mix".
Net loss for the quarter was registered at 524 mln eur or 0.39 eur per
diluted share, against a loss of 284 mln the previous quarter and a loss of
1.119 bln eur a year earlier.
[e-mail]
jad/hjp

[ariane] 04/2/2004 19:43

Technology shares were also under pressure after U.S. technology leader Cisco Systems Inc (NASDAQ: CSCO - news) . delivered a cautious outlook, and telecommunications equipment maker Ciena Corp. gave a lower-than-expected sales forecast on Tuesday.

Shares of France's Alcatel SA (Paris: FR0000130007 - news) , Europe's largest communications equipment maker which reports its fiscal 2003 results on Thursday, fell 79 cents, or 4.8 percent, to $15.72. The BONY index of leading European ADRs fell 0.4 percent.

[ariane] 04/2/2004 19:13

12.52 euros

[maywillow] 03/2/2004 20:49

13.14 euros

[maywillow] 03/2/2004 12:21

LONDON, February 3 (New Ratings) - Analysts at JP Morgan maintain their ''underweight'' rating on Alcatel (CGEP.PA).

[maywillow] 03/2/2004 11:34

PARIS (AFX) - Alcatel SA said it has won a contract from Telecom Serbia to
supply a UMTS radio access network and technical support for a trial period.
Financial terms were not disclosed.
Telecom Serbia will be able to test UMTS services from the second quarter,
and expects to launch a third generation UMTS service in the coming years,
Alcatel said.
[e-mail]
sr/wf

[maywillow] 02/2/2004 19:06

13.30 euros

[maywillow] 30/1/2004 19:05

13.29 euros

[maywillow] 30/1/2004 15:16

PARIS (AFX) - Alcatel said it has agreed to buy Boston-based WaterCove
Networks for an undisclosed sum.
WaterCove is active in the field of next generation mobile networking
equipment, Alcatel said.
[e-mail]
lwl/cml

[maywillow] 30/1/2004 12:08

PARIS (AFX) - Alcatel SA said its Alcatel Space unit will lead a consortium
of 20 companies in a two-year research and development contract worth 10.15 mln
eur to develop Satellite Digital Multimedia Broadcast (SDMB) technology.
The contract, of which 5.2 mln eur will be funded by the European
Commission, is part of the European MAESTRO research and development project,
Alcatel said.
[e-mail]
sr/jlw

[ariane] 29/1/2004 19:02

13.20 euros

[maywillow] 28/1/2004 22:36

now 13.36 euros

resistence levels 14.20,16.50,18.50 and 21.60 euros

support 12.80,11.60,9.80 and 8.50 euros.