Stocks on the Rise:

Aubay (+11%) leads the pack after a well-received earnings release. Fourth-quarter revenue came in at 172.6 million EUR, bringing 2025 revenues to 602 million EUR. For 2026, the group anticipates 676-690 million EUR in revenue and an operating margin of 9.0-9.5%. Bernstein maintains its outperform rating and raises its price target to 65 EUR.

DWS (+8%) accelerates after the surprise upward revision of its medium-term targets. The group now aims for annual EPS growth of 10 to 15% through 2028, following a 2025 EPS of 4.64 EUR, above expectations. The prospect of a special dividend in 2027 and a focus on cost control are boosting the stock.

Rémy Cointreau (+8%) and Pernod Ricard (+4%) move sharply higher after better-than-expected quarterly results. Rémy reported third-quarter sales of 245.8 million EUR, an organic increase of +2.8%, driven by a rebound in the US market. Cognac sales rose 3.2% to 150.2 million EUR, with persistent weakness in China offset, while the group confirmed its outlook.

Gränges (+7%) is well positioned after better-than-expected quarterly results. Adjusted EBIT for the fourth quarter reached 373 million SEK, above the IBES consensus (324 million SEK), driven by a 17% increase in volumes to 152.4 kt. Net profit amounted to 251 million SEK for EPS of 2.31 SEK, and the group is proposing an increased dividend of 3.40 SEK, while expecting continued volume growth in 2026.

Electrolux Professional (+6%) stands out after stronger-than-expected profitability. While fourth-quarter revenue fell to 3,085 million SEK (-7.3%), EBITA reached 388 million SEK, above consensus (364 million SEK), with a margin of 12.6%. The group is also proposing a higher dividend of 0.95 SEK and announced Paolo Schira will succeed Alberto Zanata in May, a continuity signal appreciated by the market.

Hemnet (+6%) attracts buyers after a broadly in-line report and increased dividend. Fourth-quarter revenue came in at 348 million SEK, slightly above consensus, while EBITDA reached 154 million SEK, close to expectations despite a lower margin (44.2%). The sharp rise in ARPL to 10,916 SEK offset the drop in listing volumes, and the dividend was raised to 1.90 SEK, above expectations—a positive signal for the market.

Groupe Crit (+5%) advances after a slightly higher fourth quarter, with revenue of 867.3 million EUR (+1.4%, +2% organic). Temporary work remains the main driver (757 million EUR, +1.4%). For 2025, the group posted 3.37 billion EUR in revenue (+7.9%), largely driven by acquisitions, while organic activity remained broadly stable.

STMicroelectronics (+4%) continues its climb after better-than-expected figures and outlook. The group reported quarterly revenue of 3.33 billion USD and targets 3.04 billion USD for Q1 2026, above consensus, offsetting continued margin pressure. Jefferies maintains its buy rating with a target of 29 EUR.


Stocks on the Decline:

Intrum (-11%) drops sharply after results deemed insufficient on cash generation. Fourth-quarter cash EBITDA came in at 2,405 million SEK, below expectations (2,547 million SEK), despite revenue slightly above consensus at 4,493 million SEK. The presentation of a new roadmap to 2030, focused on deleveraging and cost discipline, failed to offset immediate disappointment on cash flow.

SAP (-11%) is heavily punished despite a strong fourth quarter. The group beat expectations with revenue of 9.68 billion EUR and non-IFRS operating profit of 2.83 billion EUR, but the market reacted negatively to what were seen as overly cautious 2026 outlooks, with cloud & software growth limited to 12-13%. The 10 billion EUR share buyback program was not enough to offset disappointment.

Paradox Interactive (-10%) slumps after a disappointing fourth quarter. Revenue (874.8 million SEK) missed consensus and the group posted a net loss of 201 million SEK, hit by significant write-downs. The increased dividend to 5.00 SEK and cash generation were not enough to reassure investors.

Ocado (-10%) is severely shaken after announcing the closure of its Calgary robotic center operated with Sobeys. This decision, linked to lower-than-expected demand, would cut commission revenues by 7 million GBP in 2026, despite planned compensation of 18 million GBP. The market is focused on the negative signal regarding the commercial traction of the model in North America.

Nokia (-6%) slips despite a more positive strategic message. The market is focused on the drop in net profit and cautious 2026 outlook, overshadowing a 19% increase in network infrastructure sales in Q4 driven by AI and data centers. Reorganization and investments weigh in the short term, despite a more clearly identified growth trajectory in cloud and AI.

Interroll (-6%) falls after reporting lower 2025 figures, with revenue down 2.5% to 514.2 million CHF and an EBIT margin expected to be slightly lower. The rebound in orders (+5.1%), driven by e-commerce, is not enough to offset things in the short term, while the announced departure of the CFO adds to caution.

Givaudan (-5%) weakens after annual results deemed just below expectations. While revenue rose slightly to 7.47 billion CHF, net profit fell and Q4 disappointed, amid a slowdown among food clients. Despite confirmed long-term targets and a higher dividend of 72 CHF, the market punished what is seen as insufficient short-term growth momentum.