All is well for STMicroelectronics, Elior is overdue
TREND
The CAC 40 closed at 7,099.36 points this morning, clearly in the green at the start of the session, close to 7,100 points as the Paris index rose about 0.75%. Thus, the bullishness is rising again after yesterday’s slight decline (-0.09%), only the 4th bearish session out of 18 at the beginning of 2023. The CAC 40 remains just 300 points shy of the all-time record in the session. at 7,384.86 points.
The day’s session is revived this morning with a shower of new results, including Elior and STMicroelectronics, with completely opposite results for two titles. LVMH will follow the exercise tonight.
In terms of economic statistics, investors await the afternoon and the first estimate of US GDP for the fourth quarter, which should show a slowdown in year-over-year growth.
WALL STREET
Wall Street was in consolidation mode on Tuesday after a recent rebound phase. The S&P 500 index fell 0.07% to 4,016 points, the Dow Jones index rose 0.31% to 33,733 points, and the Nasdaq lost 0.27% to 11,334 points. The trend is halting after a two-day rally in tech stocks and the close of a new quarterly streak.
ECO AND CURRENCIES
United States of America:
– Chicago Fed National Performance Index. (14:30)
– Weekly unemployment registration. (14:30)
– Durable goods orders. (14:30)
– Stocks and wholesale. (14:30)
– GDP for the fourth quarter (first preliminary estimate). (14:30)
– Sale of new houses. (16:00)
– Kansas City Fed Manufacturing Index. (17:00)
Europe:
– Unemployment rate in Spain. (09:00)
Euro/dollar parity reached $1.0910 this morning. A barrel of Brent oil is sold at $86.18. An ounce of gold is sold at 1941 dollars.
INCREASING VALUES
STMicroelectronics (+8.30% to EUR 42.72) announces financial results for the fourth quarter and fiscal year 2022. In the fourth quarter of 2022, net sales were $4.42 billion, with a gross margin of 47.5%, an operating margin of 1.1%, and a net margin of 29%. revenue of $1.25 billion, or $1.32 per diluted share. In fiscal 2022, net income was $16.13 billion, gross margin was 47.3%, operating margin was 27.5%, and net income was $3.96 billion.
Aramis (+3.60% to €4.30) publishes turnover as of 31 December 2022, up 10.8% in published data for the 1st quarter of the financial year ending 30 September 2023 and 2 in historical data increased by 5% and amounted to 439.3 million euros. Excluding purchases made in Austria and Italy at the end of 2022.
FALLING VALUES
SES-imagotag (-3.60% to 113.60 EUR) growth accelerated in the second half to 333.2 MEUR, a +51% growth rate compared to S1 growth, up 10 points. EEG sales particularly benefited from the impact of inflation, which pushed retailers to go digital. Overall turnover for the year increased by +46.4% to 619.1 MEUR, reaching the highest level of annual sales in the history of SES-imagotag. This strong growth was driven especially by Europe and North America.
Elior (-6.30% to €3.62) reported quarterly revenue organically up +11.7% to €1,225 million compared to Q1 2021-2022 and still recovering from Covid ( Omicron) benefits. Commercial dynamism remains sustainable: the development contributes to organic growth at the level of 10 points from 11.7 points. The retention rate as of December 31, 2022 was 92.6%, excluding voluntary exits (91.5%), compared to 91.3% as of December 31, 2021.
Getlink (-1% – €15.71) has posted its historic turnover following the resumption of travel between France and the UK in 2022 and the launch of ElecLink, which will enable the exchange of electricity between the two countries. The Channel Tunnel operator posted consolidated revenue of €1.606 billion last year, up 107% at constant exchange rates. During the period from October to December, the turnover even increased by 152% year-on-year and reached 562.70 million euros.
Maisons du Monde (-3.10% at €12): Group GMV revenue in Q4 2022 up +2% compared to Q4 2021 (+7% compared to Q4) It reached 389.1 million euros. 2019) including 37 ME for Marketplace of GMV. Group sales decreased by -3% compared to Q4 2021 to 358 ME (-2% compared to Q4 2019).
LATEST EARNINGS/RESULTS BROADCAST FROM…
GenSight Biologics, Omer-Decugis, Algreen, Sword Group, Highco, Voltalia, Visiativ, Aubay, GEA, Bio-UV, Invibes, Groupe Crit, Soitec, Infotel, Visiomed
LATEST “RECOS” FROM ANALYSTS…
– Berenberg rerates Valeo from €22 to €24 (“buy”).
– Berenberg adjusts target on Forvia from €26 to €24 (“buy”).
– Greensome Finance cut its target on Invibes from €18.7 to €9.43 (“buy”).
– Invest Securities raises the price on Alstom from 30.7 euros to 32 euros.
– Invest Securities rerates Visiativ from €28 to €34 (“buy”).
MARKET INFORMATION
Pharnext: 1 ME’s new bond issue
Navya: opening of admission procedure
SHORT
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