Signify shares soar as largely in-line Q3 provides relief
** Dutch lighting company Signify NV LIGHT.AS jump almost 8% as a largely in-line Q3 report and expectations of cost-cutting measures to bear fruit in Q4 provide relief to the market
** Signify reports Q3 adj. EBITDA of 161 million euros ($174.19 million), just a touch below 163 million euros seen in company-compiled consensus, while sales of 1.54 billion euros are in-line
** "After two quarters of material miss early in the year... in-line results will be good enough today with prospect of strong Q4," J.P.Morgan says
** "Given that the major cost savings should be back-end loaded we expect bigger margin improvements only in Q4", UBS analyst Sven Weier said
** The company's shares are on track for their best day since early March 2022, if gains hold
** At 23.72 euros, the shares are touching a 3-month high
** Prior to Friday's jump, Signify's shares were down 27.5% YTD
($1 = 0.9243 euros)
Reporting by Leo Marchandon
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