Siemens new CEO starts with poor Q3, VDO sale

(Reuters) - Siemens posted a rise in new orders well below that reported by rivals in a booming infrastructure market and operating profit that missed market expectations by far, only partly due to negative equity related to its NSN telecoms joint venture.




The industrial group said it would sell VDO to Continental for 11.4 billion euros and acquire U.S. diagnostics company Dade Behring for about $7 billion to bolster its medical unit.


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UPDATE 1-Continental earnings rise on int'l demand

(Reuters) - The fourth-largest U.S. carrier by passenger traffic said
second-quarter net profit rose to $228 million, or $2.03 per
share, from $198 million, or $1.84 per share, in the same
period a year ago.




Excluding a one-time charge related to the settlement of a
pilot pension plan, Continental posted earnings of $2.10 cents
per share, beating Wall Street expectations of $1.84, according
to Reuters Estimates.


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U.K. FTSE 100 Index Falters as Standard Chartered, InterContinental Fall

(Bloomberg) -- U.K. stocks erased gains as Standard
Chartered Plc and InterContinental Hotels Group Plc declined. BHP
Billiton paced advancing shares.

The benchmark FTSE 100 Index retreated 4.6, or 0.1 percent,
to 6659.5 in London at 12:22 p.m. The index rose as much as 0.3
percent earlier. The FTSE All-Share Index slipped 2.78, or 0.1
percent, to 3455.9. Ireland's ISEQ Index declined 196.72, or 2
percent, to 9766.72.


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Continental bid for Siemens VDO not enough

(Reuters) - Continental AG's indicative bid for Siemens' automotive electronics unit, Siemens VDO, is not high enough, Siemens supervisory board chairman Gerhard Cromme said on Friday.

"Continental will have to markedly improve (it's bid)," Cromme said in an interview in the Frankfurter Allgemeine Sonntagszeitung newspaper, released in advance of publication on Sunday.


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Continental shares lead airline stocks higher

(Reuters) - The gains came after Continental said on Monday that its March revenue per available seat mile increased on fuller planes. The airline's monthly report ripples throughout the industry, as Continental is the only major carrier to publish its revenue estimates.

"Strong month-of-March demand at Continental portends a quarterly profit for that carrier, hopefully serving as a reassuring reminder that demand trends remain intact," said J.P. Morgan analyst Jamie Baker in a research note.


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