HCA Market Close 07.11.22: Featuring NTG and NORDEN
HCA Market Close 07.11.22 –NTG gained today ahead of its Q3 2022 results which were announced after the market closed today and revealed a beat on consensus estimates from Refinitv and Norden falls following its ex-dividend and insider selling.
Market Movements:
Denmark: OMX:C25 (+1.47%) ; Sweden: OMX:S30 (+0.49%) ; Norway: OBX:OSL (+0.20%) ; S&P 500 (+0.20%) ; Nasdaq (-0.17%); Stoxx 600 (+0.33%)
Market Drivers:
US markets gained today as markets turn their attention to the US Mid-terms
Consensus estimates expect that the Republican party will regain the house and possibly also the senate. This will likely mean a political gridlock for the remaining two years of Biden's presidency. However, thus far, markets have been optimistic, hoping for a post-mid-term rally. Company-specific news included a boost to Meta following rumours of job cuts and a fall in Apple following reduced output projections for the new iPhone 14.
In Europe, most leaders are at the Cop 27, which so far has seen a lot of casting blame and importantly an absence of Xi Jinping of China and Narendra Modi of India, the world's two largest emitting nations.
Snacks from the HCA Platform:
Strong share price performance in NTG today that gains 6.6% ahead of the Q3 2022 report that is expected this evening. We saw a strong report from DSV some weeks ago and see no reason that NTG should not deliver on a positive note as well. Expectations, according to Refinitiv, were for turnover in Q3 of DKKm 2,749 and EBIT at DKKm 192. The results announced after the market close revealed Q3 2022 revenues for DKK 2,821m and Adj EBIT for DKK 209m.
Shares of NORDEN dropped some 14.5% or DKK 59.6 in today's market. Some can be explained by the extraordinary dividend of DKK 30 that trades EX today. The remaining part of the drop could be due to profit-taking following the strong Q3 2022 report on Thursday last week that sent the share up 10%. Friday, we started to see some weakness that might be explained by an announcement of some insider selling by both the CEO and the CFO on Thursday. This weakness has thus continued today.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:30