Good news from Micro Focus at last
10th Aug 2011 07:17
Shareholders in wounded bid target Micro Focus got some good news on Wednesday as the legacy software specialist said it is trading ahead of expectations. The upbeat trading statement makes a change from profit warnings, of which there have been two this year. The profit warnings, along with senior
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 close: Footsie finishes well below 5,700
23rd Jun 2011 16:39
The Footsie steadily declined to finish below the 5,700 level on Thursday after last night's message from the Federal Reserve which highlighted its caution over the economic recovery in the US. While also cutting his forecasts for US growth, Fed chairman Ben Bernanke signalled the end of its second
Read moreFTSE 250 movers: Imagination continues to weigh on sentiment
23rd Jun 2011 15:39
Imagination Technologies dragged the FTSE 250 index lower for the second consecutive day after reporting lower-than-expected full year sales, offsetting the stellar performance by recycled packaging firm DS Smith. DS Smith reported 86% jump in pre-tax profits, overcoming a sharp rise in input cos
Read moreBroker tips: Micro Focus, Imagination Tech, WS Atkins
23rd Jun 2011 12:59
While Singer expects revenue in the current year for Micro Focus to be slightly lower than its expectations, the broker keeps its 'buy' rating and 415p target price (TP). Results for the year ended April 2011 came in line with the range of guidance given, Singer notes, with the legacy software spec
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 moreBroker snap: Challenges at Micro Focus offset by bid upside, says Singer
23rd Jun 2011 11:35
While Singer expects revenue in the current year for Micro Focus to be slightly lower than its expectations, the broker keeps its 'buy' rating and 415p target price (TP). Results for the year ended April 2011 came in line with the range of guidance given, Singer notes, with the legacy software spec
Read moreMicro Focus misses lowered profit target
23rd Jun 2011 09:05
Bidders contemplating making an offer for legacy software specialist Micro Focus have not been put off the idea, despite the company's underlying earnings coming in below the guidance range issued at the time of the company's February profits warning. Adjusted earnings before interest, tax, depreci
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 moreBroker tips: Mulberry, Micro Focus, Filtrona
16th Jun 2011 11:44
Merchant Securities has hailed Mulberry's preliminary results as a "very strong performance" and placed its numbers and ratings under review. While the broker notes that the stock is not cheap, trading on a forward 2012 price-earnings multiple of 40, "given the excellent performance, bullish outlo
Read moreBroker snap: Panmure ups Micro Focus forecasts ahead of results
16th Jun 2011 11:20
Panmure Gordon raises its forecasts for Micro Focus International ahead of its final results and a potential bid. The broker said that the software firm's results for the year ended 30 April will give the detail on how the company managed to "pull a rabbit out of the hat" to achieve 'in line' resul
Read moreLondon close: Stocks give up gains as Greece worries resurface
20th May 2011 16:49
Stocks gave up their early gains as continuing concerns over the eurozone debt situation - particularly over Greece - put a dampener on sentiment. The ratings agency Fitch cut its rating on the country's debt by three notches to B+, warning of the challenges the country faces in reviving its econom
Read moreMicro Focus confirms approaches, shares soar
20th May 2011 13:07
Shares in Micro Focus were up by more than 8% after the software company confirmed that it has received approaches from investment groups Advent Capital and Bain Capital "which it has chosen to explore." The announcement came after speculation of an approach from Advent had pushed up Micro Focus's
Read moreFTSE 250 movers: CSR rises after questioning merger
9th May 2011 13:33
Bluetooth chip specialist CSR is the best performer on the FTSE 250 after it questioned the recent results of US merger partner Zoran. The US peer said it is forecasting second quarter sales of $80-85m, down from a previous prediction of between $95-97m, after a disappointing first quarter. CSR said
Read moreFTSE 250 movers: Heritage jumps after buy-back
26th Apr 2011 14:45
Heritage Oil is the best performer on the FTSE 100 Tuesday after the oil explorer announced that it is buying back $100m (£60m) in shares, because its "considers that the current share price is trading at a significant discount to the intrinsic, underlying value of the company." Micro Focus Interna
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