Nordic markets erased earlier gains and pushed into red in late session. Escalating unrest in Egypt weighed in on global stock markets. The price of oil advanced considerably as a result. US GDP accelarated in Q4 albeit slightly below economists expectations.
ALK-Abelló’s shareprice was up more than 10% today. The company entered into an exclusive license agreement for house dust mite allergy immunotherapy products in Japan with Torii. Alk-Abelló will receive 30 million Euro upfront and up to another 30 million in milestones plus royalties.
Wärtsilä posted a 251 million Euro profit for October-December quarter. The company will also pay an ordinary dividend of 1,75 Euro and 1,00 Euro extra dividend. The company expects further sales growth and improved profitability. The company’s new financial targin is a 14 percent margin at the peak of the cycle and over 10 percent for the entire cycle. All of this pushed the stock upward by 3.5 percent. Wärtsilä’s President and CEO Ole Johansson will retire shortly.
Nokia announced deals with SINA and Tencent where users will be able to share their location, access content concerning the current location etc. via Ovi Maps applets in SINA and Tencent services. SINA’s microblogs and Tencent’s QQ have massive user numbers in China.
Neste Oil edged out BP in the online voting for the Public Eye Awards title of the most socially irresponsible company in the world. Berne Declaration and Greenpeace claimed Neste Oil is contributing to rainforest destruction with its biofuel production. The award descriptions also claim that Neste Oil’s fuel has a devastating carbon balance. Neste Oil says it is disappointed with the result and posted a rebuttal press release. The company somewhat carelessly cries foul as to why it was selected among other oil companies, when Neste Oil is actually among the most responsible companies acquiring palm oil. The release does not directly address the carbon footprint claims but merely points to good placing in studies of forest footprint and says Neste Oil is actually making a real contribution to reducing greenhouse gas emissions worldwide with this technology. In the earlier release, where the company commented being nominated for the award, Neste Oil was much more direct saying that there simply are no measurable facts to support the nomination. Presumably the company now feels such things cannot be argued with facts with the opposing party in question.
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