FTSE 250 Movers: Premier Foods down after 'shocking' results

12th Oct 2011 13:24

Premier Foods plummeted after Exane's analyst Jeff Stent branded the firm's third-quarter results as "shocking" and said that he failed to see "an equity escape route" for the company. The broker has valued the firm's stock at -5.4p, a devastating blow for the company which has already issued two profit warnings in three months. Laird was heading in a very different direction after UBS raised its rating for the electrical components manufacturer after "de-risking" its numbers."We believe the long term growth potential for most of Laird's end-markets remains healthy, particularly for smartphones, tablets, telematics and M2M [Machine-to-Machine]," UBS said. Lamprell wasn't far behind, as the provider of engineering and contracting products to the oil and gas and renewables industry said that it believes that its net earnings for the 2011 full year will be in line with market expectations. Travis Perkins was heading north, which is surprising given that the UK builders' merchant and DIY retailer said its like-for-like sales at its Wickes stores were down 2% in the third quarter and 0.5% on the year so far compared to 2010. FTSE 250 - RisersExillon Energy (EXI) 270.00p +7.66%Kenmare Resources (KMR) 40.18p +7.40%Oxford Instruments (OXIG) 803.50p +6.56%Travis Perkins (TPK) 852.00p +6.37%Aquarius Platinum Ltd. (AQP) 202.50p +6.30%Galliford Try (GFRD) 433.30p +5.68%Barratt Developments (BDEV) 93.95p +5.56%Laird (LRD) 149.30p +5.36%SThree (STHR) 262.80p +5.29%Bodycote (BOY) 265.60p +5.27%FTSE 250 - FallersPremier Foods (PFD) 4.05p -14.29%Lamprell (LAM) 228.50p -13.45%Hays (HAS) 73.25p -4.25%Close Brothers Group (CBG) 724.00p -3.47%Mothercare (MTC) 204.00p -2.95%Cobham (COB) 169.90p -2.91%Balfour Beatty (BBY) 263.70p -1.79%Bwin.party Digital Entertainment (BPTY) 112.40p -1.49%Booker Group (BOK) 73.25p -1.35%Daejan Holdings (DJAN) 2,641.00p -1.31%NR