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No let-up for Spirax Group as earnings forecasts and the share price drift lower
Thursday 10 Oct 2024Shares in Cheltenham-based thermal energy management and fluid technology firm Spirax Group (SPX) hit a five-year low this week, trading even below the level they reached at the peak of the pandemic sell-off, after its latest capital markets event failed to spark enthusiasm. The FTSE 100 group,...
Data firm FD Technologies shares soar after First Derivative sale
Thursday 10 Oct 2024Shares in specialist software and consultancy outfit FD Technologies (FDP:AIM) have already surged in 2024 and got a further boost on confirmation of the sale of its First Derivative business to US software giant EPAM Systems (EPAM:NYSE) for £230 million. Proceeds of the sale will be used to repay...
Positive news on selling prices fails to lift the mood among housebuilders
Thursday 10 Oct 2024The latest house price surveys from Halifax and Nationwide – two of the UK’s largest mortgage lenders – should have investors in developers breaking out the champagne, yet stocks such as Persimmon (PSN) and Taylor Wimpey (TW.) have gone nowhere for the last few weeks while Barratt Redrow (BTRW)...
Why is Watches of Switzerland buying a media company?
Thursday 10 Oct 2024Shares in luxury timepiece retailer Watches of Switzerland’s (WOSG) got a modest boost on news it had acquired publishing firm-to-luxury watch platform Hodinkee. The purchase of a media company by a retailer might look a bit odd at face value. However, the Patek Philippe-to-Audemars Piguet seller...
Cranswick shares hit new all-time high on positive earnings surprise
Thursday 03 Oct 2024Shares in Yorkshire-based pork and poultry producer Cranswick (CWK) leapt 280p or 6% to a new life-high just shy of £50 on Friday as the firm raised its outlook yet again following a better-than-expected second quarter. Led for the last decade by chief executive Adam Couch, a Cranswick ‘lifer’, the...
Not for sale: Rightmove sees off interest from Australian rival REA
Thursday 03 Oct 2024In a sign UK companies are in a mood to see off overseas predators, Rightmove (RMV) has successfully batted off interest from Rupert Murdoch-backed rival REA Group (REA:ASX) . The latter says it will no longer pursue the online UK property portal after having its fourth offer rejected. Rightmove...
Allegations crash Super Micro Computer in September
Thursday 03 Oct 2024It’s been a bleak September for AI (artificial intelligence) super computer manufacturer Super Micro Computer (SMCI:NASDAQ) , a popular stock with retail investors. First targeted by Nathan Anderson’s short selling firm Hindenburg Research at the end of August, it is now reportedly facing a...
Handbags at dawn for Mulberry as Boohoo mulls break-up
Thursday 03 Oct 2024Posh handbag maker Mulberry (MUL:AIM) has rejected (1 October) a potential £83 million takeover proposal from Frasers (FRAS) , Mike Ashley’s sprawling retail conglomerate. Like Lord Wolfson’s Next (NXT) , Frasers is expanding its stable of brands through acquisitions of, and investments in,...
Surprise jumbo rate cut sends stocks and gold to new all-time highs
Thursday 26 Sep 2024Making a virtue out of necessity is the hallmark of a skilled communicator, and that certainly applies to US Federal Reserve chair Jay Powell after markets seemingly embraced his decision to start the rate-cutting cycle with an unusually large half a percentage point cut on 18 September. The...
Oxford Metrics slumps to six-year low after profit warning
Thursday 26 Sep 2024Smart sensing firm Oxford Metrics (OMG:AIM) is on its uppers after a damaging profit warning on 23 September. The shares slumped to their lowest level since 2018 as the company said revenue would come in at £40 million to £42 million for the 12 months to 30 September 2024 compared with consensus...