FTSE 250 Movers: Micro Focus leads the way higher
7th Dec 2011 15:46
Micro Focus International saw its shares leap almost 6% after it announced today that revenues fell 2.6% in the first half, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8.5%. It also revealed that it intends to return around $134.4m in cash by way of a B and C sha
Read moreLondon midday: Stocks pare gains, euro in focus
7th Dec 2011 11:49
The Footsie was trading well below its intraday high of 5,626 reached in early trading. However, the index was still making moderate gains - up 0.33% at 5,587 by midday - on fresh optimism over the Eurozone, as leaders draw up plans to increase the region's firepower against the crisis. Miners domi
Read moreBroker tips: Xstrata, Micro Focus, Stagecoach
7th Dec 2011 11:12
Credit Suisse has reiterated its outperform rating on mining giant Xstrata, saying that the company is a "relative winner in a fight for growth". While the broker notes that declining returns are a concern for the industry ("due to significant balance sheet expansion and high cost pressures"), Xstr
Read moreBroker snap: Micro Focus is a 'cash monster', says Evolution
7th Dec 2011 10:37
Evolution Securities has kept its buy rating on business software firm Micro Focus International, saying that the company is a "cash monster" following the announcement that it is to return cash to shareholders. The firm announced today that revenues fell 2.6% in the first half, while earnings befo
Read moreWednesday broker round-up - UPDATE
7th Dec 2011 08:50
Resolution: Deutsche Bank upgrades to buy from hold. ICAP: Morgan Stanley downgrades to equalweight from overweight. Xstrata: Credit Suisse reiterates outperform and 1,700p target. Xstrata: Nomura reiterates buy and 1,500p target. Wolseley: Credit Suisse stays at outperform. Wolseley: UBS ups
Read moreLondon open: Stocks jump on euro hopes
7th Dec 2011 08:15
The FTSE 100 jumped higher from the off on reports that European leaders are drawing up a plan to increase the region's firepower against the crisis. The index jumped to 5,611 early on, an intraday level not seen in almost a month (intraday high of 5,616 hit on 9 November). The European Union is pr
Read moreMicro Focus gives $134m back to shareholders
7th Dec 2011 07:22
Micro Focus International, the business software company, has seen revenues on a constant currency basis drop 2.6% in the six months to the end of October. The firm has had a tough year during which maintenance fees and consulting revenues have fallen. However, the company claims revenues at $219.1
Read moreWednesday preview: DS Smith, KESA Electricals
6th Dec 2011 15:18
Wednesday will see the release of the first half results from FTSE 250 peers DS Smith, KESA Electricals, Stagecoach and Micro Focus International. Industrial and manufacturing production data are also due out at 09:30. Packaging and office products group DS Smith announced in late October that trad
Read moreMicro Focus secures new debt facility
2nd Dec 2011 11:30
Micro Focus International, the acquisitive legacy software firm, has agreed a new three-year banking facility with an enlarged group of banks for $275m. The new facility, which will replace the existing $215m revolving credit facility, has been agreed with Barclays Corporate, Clydesdale Bank, HSBC
Read moreTuesday broker round-up - UPDATE
15th Nov 2011 09:55
Lonmin: Goldman Sachs downgrades to sell from neutral. Antofagasta: Evolution Securities upgrades from sell to neutral, target cut from 1,200p to 1,110p. Standard Chartered: Evolution Securities maintains neutral rating and 1,800p target. Burberry: Merchant Securities keeps buy rating. Burberry:
Read moreMicrofocus results "above analyst expectations"
15th Nov 2011 08:10
Micro Focus, the Newbury based software testing company, says revenues will be down slightly in the six months to the end of October although the firm will beat analysts' expectations for the period. Micro Focus expects favourable exchange rate movements to improve the revenue comparisons with 2010
Read moreUPDATE: Monday broker round-up
10th Oct 2011 09:08
Antofagasta: Morgan Stanley downgrades to 'underweight' from 'equalweight'. Capita: Galvan Research and Trading gives buy rating and 760p target. Premier Oil: HSBC upgrades to 'overweight' from 'equalweight'. GKN: Credit Suisse cuts target to 205p from 243p. IMI: Credit Suisse cuts target to 67
Read moreFriday tips round-up: TUI, United Utilities, Micro Focus
23rd Sep 2011 06:33
Travel group TUI is on course for pre-tax profits of about £360 million for the year to the end of September, putting the shares, off 4% at 148½p, on a little more than six times earnings, which looks cheap. They have lost about 40% of their value this year, not helped by the upheavals at rival Thom
Read moreUPDATE: Thursday broker round-up
22nd Sep 2011 09:55
Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t
Read moreLondon close: Late rally pulls Footsie into the blue
23rd Aug 2011 16:31
After a strong start on Wall Street - which saw the three benchmark indices gain at least 1.1% each - the Footsie ended in positive territory, despite dipping into the red in the afternoon. However, gains were only modest as volatile trade continued. Security services provider G4S was the high rise
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