Wednesday’s session is bringing double-digit share price gains for three European companies. In each case, the catalyst was a clear beat versus prior expectations, although the quality of the positive signals varies.
Electrolux was up about 20% after almost doubling operating profit forecasts.
- Operating profit excluding one-off items rose to SEK 1.20bn versus SEK 617m expected, and organic sales increased by 2%.
- The result shows the effects of the cost-saving program, which improved performance by SEK 1.4bn.
- However, this does not come entirely from an improvement in the company’s business model, because about SEK 484m came from a refund of U.S. tariffs and a change to the healthcare benefits program.
- The most important and lasting fundamental signal remains cost optimization and free cash flow, rather than a rebound in demand in North America, where organic sales fell by 3%.
Chart: ELUXB.SE (D1)
Despite the large rise, it is hard to see long-term price growth. Looking at the chart optimistically, one can see a move away from the lower boundary of the downward trend channel. Source: xStation5
Alten was up about 15% after a clear upgrade to its 2026 outlook.
- Second-quarter sales increased organically by 3.2%.
- The company raised its full-year expectations from around 0% to growth of 1.4 to 1.8%.
- Operating margin is expected to reach around 9%, up from 8.5% in 2025.
- The improvement is driven primarily by aerospace, defense, security, and rail.
- This is a classic case of repricing a previously very low base-case scenario, followed by a sharp upward correction in expectations.
Chart: ATE.FR (D1)
Recent gains show a clear breakout from the long-term downward channel. The current level may be a good base for further gains, if the company manages to keep improving results. Source: xStation5
Hexagon was up more than 10% after an excellent Q2 2026 result.
- Organic growth was 12%, nearly twice the expected 6.4%.
- Revenue reached EUR 1.05bn versus a consensus of EUR 1.01bn.
- Adjusted EBIT was EUR 272m versus EUR 261m expected.
- The catalyst was very strong demand from the aerospace and defense industry. Additional support comes from a high order backlog and a cost consolidation and restructuring program completed ahead of schedule.
Chart: HEXAB.SE (D1)
The strong results show the company’s strength and support valuations, but the price still remains in the lower range of a broad consolidation. Source: xStation5
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