New Chemring CEO adds £20,000-worth of shares
21st Jul 2014 16:20
The Group Chief Executive of defence group Chemring has added a batch of shares worth £20,150 to his stake. Michael Flowers, who was appointed to his current role last month, paid 201.50p for each of the 10,000 shares, all of which were acquired in his wife's name. Flowers replaced Mark Papworth
Read moreSector movers: M&A, Farnborough lift aerospace and defence stocks
16th Jul 2014 14:47
M&A speculation and contract wins from the Farnborough Air Show were helping stocks in the aerospace and defence sector post solid gains on Wednesday. Aircraft components manufacturer and engineering group Meggitt was the standout performer in afternoon trade, up nearly 10% at 537p on the back of r
Read moreFARNBOROUGH INTERVIEW - Chemring chief sees signs of a defence pick-up
15th Jul 2014 14:20
Defence markets are as difficult as ever but signs of growth are emerging, the new Chief Executive of anti-missile flare maker Chemring said on Tuesday. Michael Flowers, who took over the role from Mark Papworth last month, said trading remained tough in the face of US and European defence spending
Read moreChemring CEO leaves as losses widen in "challenging" markets
24th Jun 2014 12:28
Shares in defence group Chemring fell on Tuesday after its Chief Executive Officer left with immediate effect as it posted wider half-year losses and admitted end markets remained "challenging". The group, which has appointed a new CEO, also cautioned that foreign exchange headwinds would continue
Read moreThursday broker round-up UPDATE
19th Jun 2014 08:56
BAE Systems: Westhouse Securities initiates with a target price of 360p and a sell recommendation. Berkeley Group: Deutsche Bank increases target price from 2587p to 2877p retaining a hold recommendation. Jefferies raises target price from 2477p to 2543p and keeps a hold recommendation. BG Group:
Read moreTuesday broker round-up UPDATE
12th Jun 2014 08:50
Afren: Oriel downgrades from buy to hold with a target price of 145p. Aggreko: RBC Capital downgrades to neutral with a target price of 1700p. Betfair Group: Morgan Stanley raises target price from 1150p to 1260p and keeps an overweight rating. BG Group: Nomura downgrades to neutral with a target
Read moreFriday broker round-up UPDATE
6th Jun 2014 09:38
African Minerals: Investec places both its target price (prev.: 189p) and its buy recommendation under review. ASOS: JP Morgan reduces target price from 6600p to 4259p and retains its overweight rating. Citi reduces target price from 7000p to 3700p, while leaving its buy recommendation unchanged. D
Read moreChemring buys Norwegian sub-surface imaging company
9th May 2014 09:34
Defence group Chemring, which makes anti-aircraft and roadside bomb counter-measures, has bought sub-surface imaging company 3d-Radar for $3m. Norway-based 3d-Radar, part of Curtiss-Wright Corporation, develops commercial three-dimensional ground-penetrating radar (GPR) technology which can speed
Read moreThursday broker round-up UPDATE
24th Apr 2014 09:19
AMEC: UBS ups target price from 1145p to 1200p maintaining a neutral rating. ARM Holdings: HSBC raises target price from 1080p to 1120p and keeps an overweight rating. Associated British Foods: HSBC increases target price from 280p to 310p and upgrades from neutral to overweight. Deutsche Bank rai
Read moreChemring sells European munitions arm to Nexter Systems
24th Apr 2014 07:55
Defence group Chemring is selling its European munitions business for up to 167.8m euros. The company, which makes flares and anti-aircraft countermeasures, is selling Belgian tank ammunition business Mecar and Italian group Simmel, which specialises in naval ammunition, to France's Nexter Systems.
Read moreThursday broker round-up UPDATE
20th Mar 2014 09:19
Antofagasta: Deutsche Bank cuts target price from 770p to 735p and downgrades to sell. Investec cuts target price from 753p to 726p keeping its sell recommendation. Ashmore Group: HSBC Holdings lowers target price from 410p to 400p retaining its overweight rating. Avacta Group: Numis shifts target
Read moreChemring Q1 revenue falls but new markets beckon
27th Feb 2014 11:07
Anti-aircraft flare maker Chemring has taken another hit from US defence cuts, but said it was making in-roads into new markets. Chemring, which makes decoys for aircraft and naval ships and sensors for detecting roadside bombs, said revenue between November 1st and January 31st had fallen to £118.
Read moreThursday broker round-up UPDATE
27th Feb 2014 09:55
Balfour Beatty: Berenberg moves target price from 340p to 350p and stays with a buy recommendation. Bodycote: FinnCap places both its target price (prev.: 620p) and its hold recommendation under review. Investec raises target price from 770p to 810p and keeps a buy recommendation. Numis upgrades fr
Read moreSector movers: Gloomy guidance from BAE hits aerospace/defence stocks
20th Feb 2014 15:13
Gloomy guidance from heavyweight blue chip BAE Systems dragged the aerospace and defence sector into the red on Thursday. The share price of military hardware manufacturer BAE Systems dropped sharply today after it warned that profits in 2014 could fall by up to 10% on the back of pressures on US g
Read moreFriday broker round-up UPDATE
24th Jan 2014 08:35
Aberdeen Asset Management: Morgan Stanley reduces target price from 492p to 393p and downgrades from equal-weight to underweight. Afren: Morgan Stanley moves target price from 210p to 220p retaining an overweight rating. Ashmore Group: Morgan Stanley cuts target price from 410p to 365p and reitera
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