Nevertheless with a net cash of more than 1

When attempting to establish a Spanish Armada, better not to err on the choice of its vessels to pass the storm to come around on the battlefield. The wind shaking the markets, if they have not yet dispersed to Wendel, make it less and less happy. After Saint-Gobain last month, it is the turn of Legrand hoist the red flag, he also for the second time of the year. The manufacturer of the electrical systems is a sudden voltage drop that will bring back its organic growth to half that of Schneider Electric for the 2008 fiscal year. And its operating margin will lose much of its shine, so more down four times the size of its competitor. What support long approximately 15 premium from still traded on Schneider valuation ratios. Wendel may comfort with the acceleration of Bureau Veritas on the end of the year and the confirmation of its goal of doubling of the result between 2006 and 2011, which is much less for a compliance specialist. But in the stock market, it is with Stallergènes, the only ship of the fleet of the former masters of Forges to have less back Paris indices since January.

Catenary of Alstom

There is no point to have trains can roll at 300 kilometres per hour if the catenary is defective. Investors seem to have applied to the manufacturer of the TGV the lessons experienced by clients of the SNCF. Although Alstom has reached operating margins increased to 7.8 in the first half of its fiscal year 2008-2009 and maintained its goal of growth to reach 9 in March 2010, the title lost 6 on the stock exchange. If this reaction is made in a globally depressed market, she brought the withdrawal of Alstom since the beginning of the year at 48, significantly more that index CAC 40, which recedes to 39. Thus, investors appear more heavily penalize the manufacturer of energy and transport infrastructures since the worsening of the economic and financial crisis. As if they feared that the remarkable growth of the order book, reaching 2.5 years of sales, can be blunted by the problems of financing of large customers of Alstom. A perspective avoided by its President, but that we cannot completely exclude when we see what is happening in Argentina for the TGV or blur in which there are a few major producers of electricity and gas. Nevertheless, with a net cash of more than 1.8 billion, the group is better placed than many others to face the hardships of the time.

Prius inter pares

As capitalism without bankruptcy, a champion without defeat would be a Christianity without hell. Is that the world of the car would be well spent the skid of Toyota. The accident at his best pupil could fall more poorly, proving that if even it is struck, the crisis is serious, real and deep. The Crusader of the warranty to three years admitted not being able to make the expected annual profit. It will even not reach 40 of the promised sum. Almost all of the 600 billion yen ($6 billion) planned for the year having already gained in the first half, forecasting is little room for doubt on the morale of the leaders for the coming period... The circle of quality has become a vicious circle carrying the manufacturer of the Camry and Prius in the flow of the fall of the US market, the increase in costs or the yen. But all hope should not be lost. In the causes of his troubles, Nagoya Group highlights the rise in raw materials, steel and oil, all prices are plunging. What to restore its legendary margin, but maybe put some balm to the heart of shareholders who saw their title fall by more than 40 since January.