Europe Movers: ARM, Nokia, Syngenta, Experian, Alfa Laval, Norsk Hydro

Arthi Gupta
23 Oct, 2012
New York City

ARM revenue climbed to

[R]12:30 PM Frankfurt – ARM revenue climbed to £144.6 million and KPN revenues dropped 6.5% to €3.04 billion in the third quarter. Norsk Hydro swung to quarterly loss. Experian agreed to acquire an additional 29.6% interest in Brazil-based Serasa for $1.5 billion.[/R]

Alfa Laval AB plunged 6.1% to SEK 116.40 after the specialized products producer reported third quarter net sales decreased 4% to SEK 7.05 billion. Net income for the quarter rose to SEK 849 million or SEK 2.02 per share, from SEK 780 million or EK 1.84 per share last year.

ARM Holdings Plc soared 2.7% to 610.65 pence after the chipmaker reported third quarter revenue climbed to £144.6 million from £120.2 million. Profit before tax rose to £55.3 million from £43 million last year.

Experian plc surged 3.5% to 1,083.14 pence after the personal credit information provider agreed to acquire an additional 29.6% interest in Brazil-based Serasa S.A to take its holding to 99.6%. The agreed consideration is $1.5 billion plus a cash adjustment to the date of completion.

Koninklijke KPN N.V. fell 1% to €5.74 after the Dutch telecommunications service provider reported third quarter revenues dropped 6.5% to €3.04 billion. Profit attributable to equity holders fell to €250 million or 17 cents per share from €368 million or 26 cents per share in the prior year.

Michelin SCA soared 3.6% to €64.11 after the tire maker reported third quarter net sales rose 5.7% to €5.436 billion from €5.141 billion in the comparable quarter last year.

MTU Aero Engines Holding AG edged higher 1.1% to €64.96 after the provider of MRO services for commercial engines said for the first nine months revenues rose 19% to €2.47 billion, from a year earlier. Operating profit for the period rose 13% to €278 million.

Nokia Oyj slumped 5.5% to €2.04 and the Finnish mobile phone maker introduced the Lumia 510, the company''s windows-based, entry-level smartphone.

Norsk Hydro ASA declined 3.6% to NOK 25.92 after the aluminum supplier reported third quarter revenue decreased to NOK 19 billion, from NOK 23.83 billion in the 2011 third quarter. Net loss for the period swung to NOK 231 million compared to a net profit of NOK 797 million.

Swedbank AB advanced 2.6% to SEK 120.50 after the Sweden-based bank said third quarter total income improved to SEK 9.05 billion, from SEK 8.31 billion in the earlier year quarter. Net interest income rose to SEK 5.26 billion compared with SEK 4.83 billion the prior year.

Syngenta AG climbed 1.2% to Sfr 347.60 after the Swiss agribusiness company reported third quarter group sales rose 1% to $2.698 billion from last year.