Husqvarna rises after slightly better-than-expected Q3, cost cutting measures
** Shares in Husqvarna HUSQb.ST rise 4.2% after Swedish gardening equipment and tools maker posted slightly better-than-expected Q3 results, and announced further cost-cutting measures due to constrained consumer spending
** The company said in a statement cost-cutting move will impact around 400 jobs and result in annual savings of approximately 500 million Swedish crowns ($47.28 million)
** Kepler Cheuvreux says Q3 results came in slightly better than expected, with organic growth of -4% and sales in line with consensus
** "No significant changes to estimates are expected, while the strong cash flow may be a relief and allow the stock to perform in line with or slightly better than the market today," Kepler said via Swedbank Aktiellt equity research service
** Jefferies adds the company also experienced positive growth in robotic mower and battery-powered products
** Shares are on track for a best day in three months
($1 = 10.5755 Swedish crowns)
Reporting by Jesus Calero
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