STOCKS NEWS EUROPE-GN slides on weak Q3 revenue

Wed Nov 11, 2009 8:34am GMT
 
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Shares in Denmark-based hearing aid and headset maker GN Store Nord (GN.CO) fall 4.3 percent -- lagging peers such as Swiss Sonova (SOON.VX), down 0.3 percent, and domestic rival William Demant (WDH.CO), down 1.5 percent -- after GN posts weaker than expected third-quarter sales.

"GN's report disappoints on the revenue side," says Jyske Bank, which rates the stock "reduce".

Nordea, too, sees GN's sales as disappointing and says the numbers suggest GN is losing mnarket share to Sonova, whose first-half earnings reported on Tuesday beat market consensus. [ID:nLA581159]

For more on GN's Q3 results, double click on [ID:nLB729692]

Reuters Messaging rm://peter.starck.reuters.com@reuters.net

 

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