SwissRe – FY06 net profit 4.56bn (vs cons 3.64bn) / net premiums 30.884bn (vs cons 31.973bn) / combined ratio 90.4% (vs cons 95%) / RoE 16.3 (vs 10.3%) Outlook: announced to buy back 16.7m shares (CHF 2bn) from GE – to buy back CHF 6bn over 3 years – maintains 10% EPS growth target (BB)

Sulzer – FY06 sales 2.8bn (vs cons 2.85bn) / EBIT 295.6m (vs cons 285.9m) / net profit 221.4m (vs cons 219m) Outlook: company says “high level” of orders expected in ’07 – says sales to grow at higher rate than orders (BB)

Synthes – FY06 sales 2.391bn (vs cons 2.381bn) / EBIT 762m (vs cons 769m) / net profit 508m (vs cons 509m) Outlook: sees ’07 sales growth in low double digits (BB)

Converium – Standard & Poor’s finally raised credit rating from BBB+ to A- on the belief they will settle a prove with US regulators into accounting irregularities (BB) The management of Converium reaffirmed yesterday its unanimous support of the board’s decision to reject the unsolicited offer by SCOR, at CHF 21.1 per share (BB)

Kühne&Nagel – expands Russian warehouse to 300 square meters – signed long-term contract with wine trader Eggers&Franke (Germany) – 80k orders and 16k tones volume per year (BB)

GeorgFischer – Deutsche Bank increase price target from CHF 1000 to CHF 1050, rating buy (DB research update) Holcim – Citi upgrade from hold to buy and increase price target from CHF 113 to CHF 143 (Citi research update) Credit Suisse IB upgrade from underweight to neutral and increase price target from CHF 105 to CHF 135 (CS IB research update)