Economic Analysis and Indicators

Hewlett-Packard reported Wednesday evening by a decline of nearly 44% in quarterly profit, weighed down by weak sales of PCs and printers, which has reduced the title in after-hours trading.

The U.S. group has reported net earnings of $ 1.47 billion in the first quarter of its fiscal year, ended in January, or 73 cents a share, against $ 2.6 billion ( $ 1.17 per share) a year earlier.

Excluding items, HP displays earnings per share (EPS) of 92 cents. Analysts on average expected 87 cents a share, according to Thomson Reuters I / B / E / S.

Revenues declined 7% to $ 30 billion, a level slightly lower than the consensus.

HP saw its sales decline in its three main divisions: PCs, printers and business machines.

After the publication of these results, the action has lost more than 3% in after-hours transactions.

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The satellite operator SES on Friday issued quarterly results in line with expectations but said it expected slower growth in sales and earnings this year Due to the delay in launching a satellite and the end of terrestrial television in Germany.

The group, which sells transmission capacity of television channels such as BSkyB, Canal Plus, Premiere or NBC, is expected to increase about 2% of its sales Business recurrent and 1% of its gross operating profit (EBITDA) in 2012.

In 2011, these increases were respectively 2.8% and 3.1%. 

Revenues for the fourth quarter of 2011 stood at 451.6 million euros, an amount consistent with the consensus calculated on the basis of estimates of analysts polled by Reuters.

The gross operating income for the period stood at 323.2 million euros (consensus: 333 million) and operating profit to 198.3 million (consensus: 198 million).

The shortfall in income related to the end of the radio transmission in Germany, which takes effect in April should be about 100 million euros since this post has generated 150 million euros in 2011. 

Excluding this impact, the recurring revenue and EBITDA grow by around 9% this year, continued SES, which has said it expects an average annual increase of 4.5% of its business and 4.0% of its EBITDA over the period 2012-2014.

Thursday, Eutelsat, one of the main competitors of SES, reported a drop in net profit in the first half of fiscal 2011-2012 due to an increase in financial charges and rate tax related to transactions of recent debt refinancing.

L'Oreal, the world of cosmetics, said Monday the end of the term of a director of Liliane Bettencourt, replaced the board by one of his grand-son, John Victor Meyers.

The latter, aged 25, is a member of the supervisory board of the family holding company Tethys since January 2011.

Liliane Bettencourt, heiress to the group, is 89 years old. The candidacy of his grand-son will be submitted to L'Oréal shareholders at the next general meeting on 17 April.

Activity in the services sector in France in January continued the upturn observed in December, Friday show the final results of the monthly survey from Markit director of purchases.

The PMI rose to 52.3 Segment, against 50.3 in December, and remains well above the 50 level that distinguishes growth from contraction. A first estimate, two weeks ago, had given it to 51.7.

The survey also showed a recovery in the "new business", the sector index standing at 50.4, against 49.8 in December. The sector index declining business prospects, however, from 58.2 in December to 54.5 in January.

The composite PMI ahead of his side in January to 51.2 against 50.9 in the first estimate and 50.0 in December.

"Although the latest PMI data point to a strengthening of growth in the French private sector at the beginning of 2012, signs of underlying weakness of the conditions remain, "observed Jack Kennedy, economist at Markit.

"The new business, especially, do not record a marginal growth while the outlook for activity displayed a low of almost three years. The climate of general uncertainty continues to prevail among both businesses and households in strengthening the government austerity measures, the prospects of the service sector remain French misguided for the first quarter of the year, "he adds

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The pace of job creation in the private sector slowed in January in the United States following the sharp rise the previous month, according to survey results published monthly ADP e on Wednesday. Some 170,000 jobs were created last month in the private sector, while the market was expecting 185,000 new jobs. The December figure was revised downward to 292,000 jobs created instead of the 325,000 initially announced. This report is jointly published the company ADP and Macroeconomic Advisers LLC. According to Alexander Hoder, economic analyst at FTN Financial, "that the figures should be higher in the future to the rate of unemployment is falling." This number precedes the monthly statistics of employment for the month of January which will be published Friday. The markets expect the unemployment rate unchanged at 8.5% and 150,000 net new jobs in the public and private non-farm, but after 200,000 announced for the month of December.

Enrollment managers and skilled workers have been growing. In contrast, unskilled workers and employees are in decline by 5% and 7.3%. Officers, employees

The temporary employment declined by 0.4% in October compared to October 2010, with a decline in all major sectors except industry, according to the barometer Prism job on Monday. Temporary employment is considered an indicator of future trends in the labor market.

In October, the number of executives and middle management and skilled workers have been growing 5.9% and 5.5%. In contrast, unskilled workers and employees are in decline by 5% and 7.3%. If the industry increased its use of temporary staff in October compared with October 2010 (1.8%), the other major sectors were down: construction (-0.6%), transport (-0.8 %), services (-4.4%) and trade (-4.5%).

These national statistics mask large regional differences: two regions stand out in terms of increase, Midi-Pyrenees (12.5%) and Haute-Normandie (+10.6%). However, in the Ile-de-France, the enrollment decline is temporary 7.3% in October over a year. There was also a decrease in Limousin (-7%) in the Languedoc-Roussillon (-6%) in Provence-Alpes-Côte d'Azur (-5.5%), Britain (-4.5%).

This barometer is determined by the group Umanis from the statistics provided by a panel of temporary employment representative, as Prism over 80% of temporary employment.

According to the German Chancellor, the current generation is facing "a testing history," and this is "to show that Europe can reach a turning point" with this financial crisis. German Chancellor Angela Merkel.

German Chancellor Angela Merkel said Monday at the Conservative party conference that Europe knew "may" with the debt crisis "its time the most difficult since the Second World War." "Europe (live) one of the most difficult times since the Second World War, perhaps even its most difficult hour," she warned at the conference of the Christian Democratic Union (CDU) to Leipzig in the former GDR.

"Every generation has its political challenge," said the Chancellor, noting that the generation of post-war Chancellor Konrad Adenauer had built Europe and that of Helmut Kohl German unity and European.

The rating agency claims to have taken action following the announcement of a wrong note degradation of France. She said also cooperate with the authorities have launched investigations. The rating agency Standard

The rating agency Standard & Poor's, which announced Thursday by mistake that France had lost its "AAA" rating, said on Friday it had taken steps to avoid repeating such a blunder, due to a confusion of his computer system. She said also cooperate with the authorities have launched investigations.In a statement, S & P states that it "determined that the wrong message yesterday (Thursday) on a gradient is a technical error completely independent of the sovereign rating of France and took immediate steps to prevent a similar error to reproduce ".

The agency explains that the error was triggered by a reassessment of the risks associated with banking sectors in different countries. For France, this criterion has been changed to "Not available" and "the system has erroneously interpreted this change as a degradation + +, which triggered the sending of a message to a limited number of subscribers registered to receive email alerts, "she said.

European shares are stepping up their gains, resulting in the CAC 40 index beyond the resistance of 3,300 points in markets relieved after the agreement reached in the night on the Greek debt restructuring, capacity building fund support the euro and the recapitalization of European banks.

In Paris the CAC 40 is doped by the bank and Axa, up 12%. At the top of the index, Crédit Agricole flies by 21%.

Dexia wins more than 10% at the resumption of trading of the security.Constraint to the dismantling early October due to the debt crisis in the eurozone, the bank said Thursday that its capital requirements amounted to 1.7 billion euros.

PPR takes more than 6%, boosted by the announcement on the eve of a very strong sales growth in the luxury market in the third quarter despite a difficult economic environment.

The euro peaked at 7 weeks against the dollar at 1.4038. Traders refer to a new level of resistance around 1.4050 dollar.

Nestlé raised slightly its expectations for 2011 after nine months figures broadly in line with expectations and once again heavily impacted by currency effects.

"For the full year, despite the pressure of raw material costs, we expect to achieve a performance slightly above our range of long-term organic growth of 5-6% and continue to seek an improved margin at constant exchange rates, "said the CEO Paul Bulcke, quoted in the statement.

Organic growth at 7.3% which posted 4.1% real internal growth and 3.2% in price increases.However, currency effects reduced sales by 15.1% and divestitures, primarily Alcon, 5.7%.

At group level, the turnover fell to 60.89 billion Swiss francs (49 billion) against 65.3 billion during the same period last year, the global food Alcon recalling counted for 5.1 billion.

Analysts polled by Reuters on average expected a turnover of 61.88 billion. They anticipated organic growth of 7.14% and a real internal growth of 4.09%.