Tuesday January 20, 12:00 PM
Glance-STOCKS NEWS EUROPE-SAP drops; report to postpone hitting target
STOCKS NEWS Reuters Results diary
Stocks on the move Real (Frankfurt: BJU.F - news) -time
Equity News
11:42GMT 20Jan2009-SAP (Xetra: 716460 - news) drops on report it will postpone hitting targets
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Shares in SAP fall 5.5 percent, making them one of the top
decliners among German large-caps, as Capital Magazine reports the
software maker may push back the timetable for hitting its margin targets and
not give a 2009 sales outlook this month.
SAP declined to comment on the report.
'What the magazine reports is fully realistic,' says a Frankfurt-based
trader.
The trader said, however, he was slightly surprised SAP shares are falling
so sharply on the report.
'The margin target is a mid-range target, and in this market it is not
surprising the company might scale it down. SAP already hinted that its 2009
sales target would be difficult to achieve,' he added.
A second Frankfurt-trader points to what he sees as slightly positive
aspects of the report, which might be helping to stem losses.
'The report says Apotheker wants to change the
company around and shake things up. This sounds a bit like a precursor to
further cost-cutting measures,' he adds.
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