Such a level expressed very high expectations

Wet marriage, happy marriage. After the euphoria that followed the announcement of its merger with Lucent, Alcatel was entered in difficult engagement, losing up to 40 of its value in a few months. The shareholders of the French feared that the American bride is not also that planned belle after the publication of disappointing results. With the figures in the last quarter prior to their effective merger, Lucent brings a denial to the skeptics. While the results of Alcatel are sealed by its poor performance in the mobile phone networks, Lucent saves benefits very higher than market expectations. Through his activity in the mobile in North America, the American was able to increase its turnover by 5 and profits, excluding exceptional items, of 20. What put the balm to the heart of the shareholders of Alcatel's mobile sales declined by 9, resulting in a fall of more than 40 of its profit. As its activities in the fixed continue to behave well and that both groups are now penalized by the offset of some commands, the future is rather well for the future Alcatel-Lucent who can play in full its complementarities. By bounce action of 7, investors thus merely took note that the 1.4 billion euros promised synergies should be at the Rendez-vous.

Attention, surgonflés tires

It is in full forest tree is the better hidden. In a well-oriented stock market, the Michelin title discreetly... is four times better than the CAC 40: 42 of increase in three months! The title comes from editing its earlier history, and was therefore more than erased the warning on its margins launched by Edouard Michelin just before his disappearance in the spring. Such a level expressed very high expectations. Investors appear to have deduced a few statements of Michel Rollier, the new manager of the Group of Clermont-Ferrand, he had a firm commitment to accelerate cost reduction programs. And after playing for several years the rise in range of its products and the increase in its prices, Michelin would thus find the flexibility of raw material costs, and boost the growth of its results. Beyond sales in the third quarter, published yesterday evening and in line with market consensus overall, the 2006 results are anticipated without relief. But the years 2007 and beyond who support optimism. Several international studies offices come meet their expectations and their objective of course, some holding Michelin still décoté 25 to its current course. A global automotive whose visibility is poor, it is inflated!

The best of Nexans

This could end up making the jealous: Nexans is poised to achieve one of the best stock market performance of the year, after having already been in the forefront in 2005. Four-year course spring up 500, more than five times more than the SBF 120 index! And why the number a global cable would stop if good way Its valuation ratios are not excessive compared to the average of the market or securities industry of intermediate goods. Better, the revisions increased its forecast of sales and margins in which the company conducts regular come each time reduce the relative price of the title, thus reviving the interest of investors. Nexans is now identified as a group from the best of its product portfolio: cable special and high added value for customers with their own large investment programs to achieve, such as the oil industry, electrical infrastructure, local telecom networks. Organic growth in double digits on the first nine months 2006 (10.2) and an operating margin expected 5.5 (twice the level of three years) reflect this repositioning accelerated over the past three years. Happiness is never alone, from Nexans has bonus this year to a strong demand in Europe, which remains far, its main market.