Friday broker round-up - UPDATE
18th Nov 2011 09:42
Pennon: Deutsche Bank upgrades to buy from hold. Capita: Peel Hunt reiterates buy and 850p target. Capita: Investec slashes target to 630p from 725p, hold maintained. Chemring: finnCap downgrades from buy to hold, target slashes from 780p to 480p. ICAP: UBS cuts target from 380p to 328p, sell ra
Read moreChemring subsidiary wins $49.5m contract
29th Sep 2011 13:31
Chemring has announced that its US subsidiary, Non-Intrusive Inspection Technology (NIITEK), has been awarded a $49.5m contract from the US Army to supply spare parts for the Husky Mine Detection System ("HMDS"), in support of US peacekeeping operations around the world. Deliveries under the contr
Read moreBroker tips: Hargreaves Lansdown, Chemring, Berkeley
5th Sep 2011 12:41
After putting its fair value rating on Hargreaves Lansdown on review last week, Singer Capital Markets decided to upgrade the wealth management firm to buy on Monday, "The recent potential U-turn on payments to platforms and share underperformance has presented a long-awaited buying opportunity in
Read moreBroker snap: Credit Suisse foresees continued growth at Chemring
5th Sep 2011 12:21
Following Chemring's reassuring interim management statement in August, Credit Suisse has retained its outperform rating on the FTSE 250 defence firm, highlighting "platform[s] for continued growth". The group, which manufactures military decoy flares and mine-detection equipment, is the Swiss brok
Read moreDragon's Den's Peter Jones puts up the money
15th Aug 2011 13:17
Dragon's Den entrepreneur and business tycoon Peter Jones has used some of the proceeds of his sale of one of his telecoms businesses, Wireless Logic, to buy more shares in the online consumer electronics business eXpansys He bought 35,634,200 shares at 2.42p. Jones, the non-executive deputy cha
Read moreMinistry of Defence's radios worth £184m off the air
5th Jul 2011 13:51
The Ministry of Defence's (MoD) failure to account for the existence and condition of assets worth £6.3bn, including the location of radios worth £184m, has highlighted the governmental department's inability to manage resources, the Defence Select Committee said in its report. The committee said
Read moreFriday tips round-up: Rank, Chemring, Soco International...
24th Jun 2011 06:47
It is game over for Rank Group. Despite its misgivings, the company has told shareholders to accept a ridiculously low offer from the Malaysian billionaire Quek Leng Chan. The assumption was that the 150p a share offer would fail, leaving outside shareholders with a small majority. For some reason i
Read moreLondon midday: Trichet comments heap more gloom
23rd Jun 2011 12:19
Gloomy comments from European Central Bank (ECB) President Jean-Claude Trichet have sent stocks further into the red. Trichet warned that the Greek debt crisis threatens to infect banks. Recycled packaging firm DS Smith is in demand after it overcame a sharp rise in input costs to grow pre-tax pr
Read moreLondon open: Stocks slip after Bernanke caution
23rd Jun 2011 08:32
Shares are in the red after the US Federal Reserve's more cautious stance last night on the growth prospects of the world's biggest economy. Asset manager The Carlyle Group is to buy roadside assistance provider RAC from insurance giant Aviva, a riser today, for one billion pounds. The transaction
Read moreChemring profits up despite budget cuts
23rd Jun 2011 08:00
Military decoy flare and mine detection firm Chemring managed to post a sharp rise in sales and profits in the half-year to 30 April despite constraints on military spending in Britain and the US. Revenues climbed by 29% from the previous year to £329.8m, while underlying pre-tax profits were up by
Read moreChemring wins $150m US military contract
22nd Jun 2011 13:45
Chemring, the pyrotechnics and munitions manufacturer for the defence and security industries, has won a $150m contract with the US military to manufacture a "self-contained, one-shot- expendable linear demolition charge". The company announced on Wednesday that its US subsidiary, Chemring Ordnance
Read moreWednesday tips round-up: Whitbread, Capital Pub, Chemring
22nd Jun 2011 06:33
Costa Coffee and Premier Inn owner Whitbread had indicated at the time of its preliminaries in April that the pace of growth was slowing. Some brokers hope for a bid from private equity, but others worry about further weakness in the regional hotel trade. On almost 13 times' this year's earnings, fu
Read moreChemring buys bio threat detection firm
20th Apr 2011 11:53
Military decoy flare and mine detection firm Chemring has agreed to acquire the Detection Systems operations and certain related assets of General Dynamics Armament, a subsidiary of US based General Dynamics Corporation. The total cash consideration of £55.2m will be paid on completion of the deal.
Read moreFTSE 250 movers: Lamprell jumpes after strong 2010
28th Mar 2011 17:09
Oil and gas engineer Lamprell was the best performer of the day after revenues rose by 18.4% in 2010, with the strength of the oil price contributing to unprecedented levels of enquiries. Military decoy flares and mine detection firm Chemring wasn't far behind after it said it remains confident for
Read moreLondon close: Flat day for FTSE 100
28th Mar 2011 17:03
A second attempt to spring into life evaporated ahead of the close on Monday and the top share index finished just a few points higher. Worries that Japanese carmakers may have to suspend production at their plants in China following the earthquake disruption have sent copper prices lower. As a res
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