Europe Movers: QSC, Fuchs Petrolub, Ryanair, CGGVeritas, Transocean, Novartis

Arthi Gupta
05 Nov, 2012
New York City

QSC revenue fell and Transocean net loss widened in the third quarter. Fuchs estimates higher earnings and revenues for full-year. Ryanair first-half net rose 10% to

[R]1:30 PM Frankfurt – QSC revenue fell and Transocean net loss widened in the third quarter. Fuchs estimates higher earnings and revenues for full-year. Ryanair first-half net rose 10% to €596 million. AXA completes acquisition of HSBC P&C operations in Hong Kong and Singapore.[/R]

AXA SA declined 1.3% to €12.39 after the insurer successfully completed the acquisition of HSBC P&C operations in Hong Kong and Singapore.

CGGVeritas dropped 2.4% to €32.27 after the oilfields surveyor said third quarter revenues rose 7% to $855 million from the prior-year quarter. Net income in the quarter grew to $48 million from $40 million last year.

Fuchs Petrolub AG rose 0.7% to €48.15 after the German lubricants maker reported third quarter sales revenues grew 11.5% to €469.2 million. Profit in the quarter increased to €55 million from €45.3 million in the previous year. Earnings per ordinary share increased to 77 cents from 63 cents per share a year earlier.

Novartis AG dropped 0.8% to Sfr56.90 after the drug Votubia was approved in the EU as first medication to treat patients with non-cancerous kidney tumors associated with tuberous sclerosis complex.

Qiagen N.V. fell 0.6% to €13.66 after the sample and assay technologies provider said third quarter net sales grew 10% at constant exchange rates to $304.3 million from the same period in 2011. On an adjusted basis, earnings for the quarter rose to $62.3 million or 26 cents per share from $56.3 million or 24 cents per share last year.

QSC AG soared 3.5% to €2.07 after the German telecommunications provider reported third quarter revenue fell to €120.5 million from €128.3 million. Consolidated net income for the quarter advanced to €7.3 million from €6.4 million reported in the prior-year period.

Ryanair Holdings Plc gained 0.4% to €4.55 after the discount airline reported first-half revenue grew 15% to €3.11 billion, from a year earlier. Profit for the first half rose 10% to €596 million compared with €544 million last year.

Transocean Ltd. dipped 0.1% to $46.06 after the oilfield services provider reported third quarter revenues climbed to $2.44 billion from $1.99 billion in the comparable quarter last year. Net loss in the quarter widened to $381 million or $1.06 per share from $32 million or 10 cents per share in the year-ago period.