Europe Movers: SAP, Software AG, KPN, STMicro, Norsk Hydro

Arthi Gupta
24 Jul, 2012
New York City

The telecom operator KPN said quarterly net declined 24%. Norsk Hydro, the aluminum maker said second quarter revenues fell 13% and swung to a net loss. SAP AG said second quarter sales rose 18% and net increased 12% and Software AG said revenues barely budged 1%.

Koninklijke KPN NV fell 1.7% to €7.20 after the Dutch telecom operator said revenues declined 3.7% to €3.15 billion from the prior year. Profit in the quarter fell 24% to €315 million or 23 cents per share compared to €414 million or 28 cents per share last year.

Norsk Hydro ASA rose 1.8% to NOK 25.81 after the aluminum producer said second quarter revenue declined 13% to NOK 21.60 billion from NOK 24.73 billion in the comparable period in 2011. Net loss in the quarter swung to NOK 1.71 billion or 78 cents per share compared with a profit of NOK 1.55 billion or 69 cents in the prior-year quarter.

SAP AG gained 1.8% to €49.94 after the business software maker reported second quarter revenues rose 18% to €3.90 billion. Quarterly profit rose 12% to €661 million from €588 million last year.

The company said second quarter software revenue increased 26% to €1,059 million.

Software AG soared 8.2% to €25.32 after the business infrastructure software developer reported second quarter revenues edged up 1% to €258.6 million from the prior year. Net income for the quarter slipped 3% to €37.5 million or 43 cents per share from €38.7 million or 44 cents per share in the prior year.

STMicroelectronics N.V. slumped 3.6% to €3.77 after the chipmaker reported second quarter net revenue declined 16% to $2.15 billion from $2.57 billion in the year-ago period. Net loss in the quarter swung to $75 million or 8 cents per diluted share compared to net income of $420 million or 46 cents per share in the year-ago quarter.

Telenor ASA climbed 2.2% to NOK 99.70 after the telecommunications provider said second quarter revenues rose 5% to NOK 25.36 billion. Net income in the quarter slumped 54% to NOK 2.07 billion from NOK 4.49 billion last year.

The Swatch Group AG advanced 2.5% to Sfr370.60 after the Swiss watchmaker reported first-half net sales advanced 15.4% annually to Sfr3.68 billion. Net income for the period climbed 25.2% to Sfr720 million or Sfr2.67 per share from Sfr575 million or Sfr2.13 per share last year.

TomTom NV surged 10.7% to €3.29 after the navigation products supplier said second quarter revenue decreased 17% to €262 million from the earlier year quarter. Net profit in the quarter was €9 million or 4 cents per share compared to a loss of €489 million or €2.20 per share a year ago.

Volvo AB dipped 0.1% to SEK 78.75 after the commercial transport solutions provider said second quarter net sales rose 6% to SEK 83.9 billion, record second quarter sales. Operating income for the period fell 4% to SEK 7.34 billion from SEK 7.65 billion last year.