Europe Movers: ABB, Credit Suisse, Daimler, France Telecom, Sanofi, WPP

Arthi Gupta
25 Oct, 2012
New York City

Banco Santander net plunged 94% and Credit Suisse quarterly net dropped 63%. Logitech second quarter net surged. BASF sales rose 8% to

[R]3:00 PM Frankfurt – Banco Santander net plunged 94% and Credit Suisse quarterly net dropped 63%. Logitech second quarter net surged. BASF sales rose 8% to €19 billion and WPP reported revenues rose 1.6% to £2.496 billion in the third quarter.[/R]

ABB Ltd fell 0.7% to Sfr17.47 after the engineering firm reported third quarter revenues increased 4% to $9.745 billion. Net income declined 4% to $759 million from $790 million a year ago. Earnings per share slid to 33 cents from 34 cents last year.

Banco Santander SA dipped 0.3% to €5.76 after the Spanish bank reported third quarter net profit plunged 94% to €100 million compared with €1.8 billion a year earlier.

BASF SE rose 2% to €63.89 after the chemical maker reported third quarter sales rose 8% to €19 billion on higher volumes.

Credit Suisse Group AG gained 2.6% to Sfr21.89 after the financial services provider said third quarter net income slumped 63% to Sfr254 million or 16 cents per share compared to Sfr683 million or 53 cents per share last year.

Daimler AG slumped 3.2% to €36.63 after the automaker said third quarter net income declined to €1.21 billion or €1.03 per share, from €1.36 billion or €1.21 per share reported a year ago.

Dassault Systèmes S.A. gained 2.8% to €83.79 after the software solutions provider said third quarter revenue rose 8% to €499.5 million. Earnings rose to €82.6 million or 66 cents per share from €76.4 million or 62 cents per share, a year ago.

France Telecom S.A. slumped 2.5% to €9.08 after the mobile operator reported third quarter revenues fell to €10.76 billion from €11.15 billion in the corresponding period last year on a comparable basis.

Logitech International S.A. plunged 7.5% to Sfr7.62 after the computer interface devices manufacturer reported second quarter net sales decreased 7% to $548 million from the same quarter last year. Net income surged to $55 million or 35 cents per share compared to net income of $17 million or 10 cents per share in the prior-year quarter.

Novartis AG fell 0.4% to Sfr57 after the Swiss drug maker reported third quarter net sales dropped 7% to $13.81 billion. Net profit declined modestly to $2.48 billion or $1.01 per share from $2.49 billion or $1.02 per share in the previous year.

Sanofi SA climbed 2.3% to €67.65 after the French drug-maker third quarter net sales increased 3.3% to €9.040 billion from the prior year. Net income declined 23% to €1.559 billion from €2.030 billion in the previous year. Earnings per share fell to €1.18 from €1.52 last year.

WPP Plc slumped 2.7% to 786 pence after the advertising company said third quarter reported revenues were up 1.6% at £2.496 billion. On a comparable basis, excluding the impact of acquisitions and currency fluctuations, revenues increased 1.9%.