Czech earnings review: Bull and Bear case

Let's start with bear cases. Sold out Zentiva finally released better result that management announced last week which triggered one day 16% sell off. And now gaining ground. Central European Media (also listed in NASDAQ: CETV) released worse results caused mainly by operations in Ukraine.
Two Czech banks were positive surprise. Komercni Banka had slightly better than expected results and analyst upgrades are coming. Erste Bank had a little bit worse than expected but still positively considered.