Deutsche Bank Surges 7%, Dialog Semiconductor Issued Positive Outlook

Sarla Buch
16 Jul, 2018
New York City

Deutsche Bank forecasted second-quarter revenues and profit above estimates. Dialog Semiconductor forecasted strong profit and revenues in June quarter. Dragerwerk said second-quarter net income declined. Orange agreed to acquire Sweden-based Basefarm Holding.

[R]4:00 PM Frankfurt – Deutsche Bank forecasted second-quarter revenues and profit above estimates. Dialog Semiconductor forecasted strong profit and revenues in June quarter. Dragerwerk said second-quarter net income declined. Orange agreed to acquire Sweden-based Basefarm Holding.[/R]

In London trading, FTSE 100 index slumped 57.02 or 0.7% to 7,603.92 and in Frankfurt the DAX index gained 28.71 or 0.2% to 12,568.03.

In Paris, CAC 40 index fell 17.96 or 0.3% to 5,411.27.

Deutsche Bank AG surged 7.6% to €10.34 after Germany-based banking and financial services provider forecasted revenues in the second-quarter ending in June of €6.6 billion and pretax profit of about €700 million and net income of about €400 million.

The bank is scheduled to release its second-quarter result on July 25.

Dialog Semiconductor Plc jumped 4.8% to €14.98 after the U.K.-based integrated circuits maker forecasted revenues in the second-quarter ending in June to soar 16% to $296 million and operating profit to surge 31% to $26 million.

The chip maker said cash and cash equivalents in the quarter are estimated to decline to $537 million from $644 million in the same period a year ago.

Dragerwerk AG gained 1.4% to €66.50 after Germany-based medical and safety devices maker forecasted net sales in the second-quarter ending in June to jump 10% to €620 million but operating profit to decline to €3 million from €16.8 million in the same period a year ago.

Dragerwerk forecasted fiscal 2018 net sales growth between 2% and 5% and operating margin in the range of 4% to 6%.

The safety devices maker is scheduled to release its second-quarter result on July 26.

Orange SA fell 0.1% to €14.60 after France-based telecom services provider’s subsidiary Business Services today agreed to acquire Sweden-based Basefarm Holding AS, cloud-based infrastructure and services provider, for about €350 million or $409 million.

The transaction is expected to close in the third-quarter of 2018.