The "W" has been hanging over the markets like a curse word or a KGB agent. If there is a quarter with negative growth,oh the schadenfreude by all of those calling for a massive bear to eat you alive. It certainly does not matter that one negative quarter would not yet constitute a technical double dip per se, so perhaps that would be the end of the talk and then the sentiment would normalize. Well downward spiral continued today.
Opera software EBIT on Q2 2010 came in at 28.8 million NOK on lower than expected costs. Opera hauled in new big operators during the quarter.
Clavis Pharma reported a typical clinical trial development stage pharmaceutical company result. Axis-Shield is a little further along and turned in a slight profit. Neurosearch, which has been yo-yoing from great highs to deep controversy, reported earnings which do not yet answer the questions remaining in investors minds.
Eniro divests certain assets of Eniro Finland to Fonecta Ltd. The impact on 2010 result is a negative writedown of goodwill of around 700 million SEK.
Talvivaara production rampup continues slowly. The company is now shooting to around the lower boundary of the goal of 15 000 tons of nickel for 2010. The company "believes that the planned productionof 50 000 tons annually is possible to reach in 2012".
Infratek reported significant rise in the activity levels and an operating profit of 18.6 million NOK. Envelope manufacturer Bong Lungdahl reported a profit after tax of SEK 2 million. Cash flow was sharply negative. Sevan Marine beat expectations handly with a 22 million USD result. Norse Energy reported a lossof 9 million USD. Metso landed another major contract from China.
Real estate firm Hufvudstaden reported after tax profit of 391 million kronor. Insurance company Topdanmark lowered its full year guidance in connection with a report that missed consensus estimates by a wide margin. Action in the featured stock continued non-existant.
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