Not just on the Swiss stock exchange – are equity investors too sure of their cause?

Much noticed put-call ratio on the New York Stock Exchange at its lowest level since the surveys began. Indicates that the market players are too sure of their cause. And if New York sneezes loudly twice …

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Alcon: Quarterly sales $ 1.82 billion (exp. $ 1.73 billion). Op. Core profit $ 279 million (exp. $ 206 million). No outlook. Pleasing margin improvements. Goldman Sachs pleased, stays at BUY until 62.50 Fr. ZKB confirms OVERWEIGHT.

strategy: Kepler Cheuvreux with all-round impact. Reduces Swiss stocks to UNDERWEIGHT (Overweight). Goes to NEUTRAL (overweight) for pharmaceutical stocks and even to UNDERWEIGHT (overweight) for food stocks. More on the subject at 12.30 p.m. in my column.

AMS: Weiss to convince on the occasion of a road show with Oddo. Encouraging statements about day-to-day business Osram light. French investment bank is for BUY up to 25 Fr.

Autoneum: UBS doubles to CHF 125 (65) with NEUTRAL. Increases earnings estimates by up to 26 percent.

Barry Callebaut: Annual sales CHF 6.9 billion (exp. CHF 6.96 billion). Op. Profit CHF 491 million (exp. CHF 478 million). Surprisingly cuts the dividend. CFO Remco Steenbergen leaves the company for Lufthansa. Share for UBS a purchase of up to CHF 2,200.

Conzzeta: Credit Suisse stays with OUTPERFORM until 1130 (1035) Fr.

EFG International: Reports the inflow of new money at the upper end of the target range. Second dividend tranche should flow. Billionaire and anchor shareholder Spiro Latsis can no longer be nominated for re-election to the Board of Directors. Observers are surprised.

Implenia: Financing secured. Banks confirm syndicated loan of CHF 800 million.

Lastminute.com: Nine month sales 115.2 million €. Op. Profit € 7.4 million. Has suffered from the second wave of Covid-19 since September. Kepler Cheuvreux stays with BUY until 24 Fr.

Lindt & Sprüngli: Re-coverage by Bernstein Research with OUTPERFORM up to 9000 Fr.

Lonza: UBS increases to 610 (520) Fr. with NEUTRAL.

Richemont: Goldman Sachs wants to know, is for BUY to 90 (78) Fr. Partnership with Farfetch and Alibaba has potential. Bernstein Research reduced to MARKET PERFORM (Outperform) up to 75 (70) Fr. Citigroup, on the other hand, is for NEUTRAL up to 82 (61.20) Fr.

SGS: Jefferies goes on HOLD (underperform) up to 2800 (2100) Fr. Barclays stays with OVERWEIGHT up to 2750 (2600) Fr., JP Morgan on the other hand for NEUTRAL up to 2750 (2600) Fr. Kepler Cheuvreux is for RECUCE up to 2400 (2100) Fr . A little bit of everything.

Siegfried: Credit Suisse firm, is up to 670 (580) CHF for OUTPERFORM Biontech by an average of 9 percent.

Swiss Steel: Quarterly sales € 509.4 million. Op. Loss of € 21.1 million. Financing concept secured until 2025. This counteracts recent speculations.

Temenos: Capital Group cuts to 4.99 (8.35) percent. Reduced participation has a signal effect.

Derivate: Suspicious activities occasionally in the call warrant WSMA1V on the SMI as well as in the tracker certificate ZXBTAV on the Bitcoin.

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