Atos Tumbles 23% on Lower Guidance, Renault Emerging Markets Sales Plunge

Sarla Buch
23 Oct, 2018
New York City

Atos tumbled after the French IT services company lowered earnings and sales outlook for the year. Alkermes lifted fiscal 2018 revenues forecast. St. James''s Place net inflow surged. Renault sales plunge in emerging markets.

[R]4:00 PM Frankfurt – Atos tumbled after the French IT services company lowered earnings and sales outlook for the year. Alkermes lifted fiscal 2018 revenues forecast. St. James''s Place net inflow surged. Renault sales plunge in emerging markets.[/R]

In London trading, FTSE 100 index dropped 100.04 or 1.4% to 6,943.87 and in Frankfurt the DAX index declined 264.41 or 2.3% to 11,255.83.

In Paris, CAC 40 index slumped 87.32 or 1.8% to 4,963.75.

Atos SE tumbled 23.1% to €69.26 after France-based information-technology provider said total revenues in the nine-month period ending in September increased 1.2% from a year ago to €8.9 billion.

Atos lowered fiscal 2018 revenue growth forecast to about 1% from the earlier estimate of 2% to 3% after weak performance in infrastructure and data management business in North America and Germany.

Alkermes Plc dropped 1.9% to $38.12 after Ireland-based biopharmaceutical products maker reported total revenues in the nine-month period ending in September soared 23.9% from a year ago to $778.5 million.

Net loss in the period narrowed to $129.6 million from $148.2 million in the same period a year ago and diluted loss per share decreased to 84 cents from 97 cents.

The drug maker lifted fiscal 2018 revenues forecast to between $1.02 billion to $1.05 billion from the earlier estimate of $975 million to $1.03 billion.

However, the biopharma products maker lowered fiscal 2018 net loss forecast in the range of $180 million to $210 million from the earlier estimate of $210 million to $240 million and diluted loss per share between $1.16 and $1.35 from the earlier estimate of $1.35 to $1.55.

St. James''s Place Plc declined 4.8% to 985.40 pence after the U.K.-based wealth manager said gross inflow of funds in the nine-month period ending in September soared 12% from a year ago to £11.8 billion and net inflow of funds surged 15% to £7.7 billion.

The wealth manager said funds under management in the period jumped 17% to £100.6 billion and 11% as of September 30.

Groupe Renault slumped 2% to €64.42 after France-based auto maker reported group revenues in the nine-month period ending in September fell 0.8% from a year ago to €41.4 billion.

Renault sales in the quarter in Africa, Middle East and India plunged 24.4% but total group registration soared 8.1% to 2,970,518 vehicles from a year ago period.