Meggitt profits crash 11% but return to growth expected in 2015
24th Feb 2015 08:11
Revenues fell 5% and profits 11% at Meggitt last year but the FTSE 100 aerospace parts supplier expects to return to growth in 2015 as its military market becomes more benign. 2014 saw group revenue decline 5% to £1.55bn, mostly from currency headwinds, though organic growth was still marginally neg
Read moreMeggitt wins $19m contract to supply cabin surveillance
27th Jan 2015 07:16
Aerospace firm Meggitt will supply the cabin surveillance system for Embraer's E-Jets E2 in a deal worth $19m. The system is based on one developed by Securaplane to fulfil the latest aircraft security requirement. Meggitt claimed that it will equip the aircraft with cockpit door surveillance. This
Read moreLondon pre-open: Stocks to fall ahead of UK inflation data
13th Jan 2015 07:56
UK stocks are expected to decline on Tuesday morning as investors await key consumer-price data, which is predicted to show that inflation eased further in December. City sources predict the FTSE 100 will open 23 points lower than Monday's close of 6,501.42. Data due out at 09:30 is forecast to sho
Read moreMeggitt wins marksmanship training deal with US Marine Corps
13th Jan 2015 07:32
Aerospace, defence and energy engineer Meggitt has won a $31.7m contract with the US Marine Corps (USMC) for indoor simulated marksmanship training systems. The five-year deal covers the design, development, installation and support for some 670 systems and weapon simulators at USMC facilities at h
Read moreLondon pre-open: Stocks to fall further ahead of data-heavy session
6th Jan 2015 07:43
UK stocks were expected to open slightly lower on Tuesday ahead of a busy day for economic data, extending losses after dropping sharply to a three-week low. City sources predict the FTSE 100 will open 12 points lower than Monday's close of 6,417.16. The index suffered a 2% sell-off the previous se
Read moreMeggitt buys IP-laden valves business PECC for $44m
6th Jan 2015 07:17
Aerospace engineer Meggitt has strengthened its industrial valve offering with the $44m cash acquisition of California-based Precision Engine Controls Corporation, which serves the oil and gas and power generation industries. PECC, which was bought from owner United Technologies Corporation from exi
Read moreFriday broker round-up
5th Dec 2014 09:48
Amino Technologies: N`+1 Singer ups target price from 107p to 141p and keeps a 'buy' recommendation. Barr (AG): Numis upgrades from 'hold' to 'add' with a target price of 659p. Jefferies reduces target price from 678p to 510p and downgrades to 'sell'. Betfair: JP Morgan increases target price from
Read moreFTSE 100 movers: Tullow Oil lifted by Liberum comments
18th Nov 2014 15:30
Tullow Oil's share price was rising strongly on Tuesday, supported by a 'buy' call from Liberum, which downplayed the recent sell-off in the shares. The broker said that results from two "basin-opening wells" in Kenya should be released in the next three months and would be catalysts for the stock,
Read moreMeggitt wins $57m thermal management deal in Canada
18th Nov 2014 07:53
Aerospace, defence and energy engineering group Meggitt has won a $57.3m contract to provide heating, ventilating and air conditioning (HVAC) systems for combat vehicles in Canada. The work, with General Dynamics Land Systems (GDLS) Canada, will provide cooling and heating to driver and crew. "The
Read moreMonday broker round-up UPDATE
17th Nov 2014 10:32
African Barrick Gold: Investec reduces target price from 262p to 170p and downgrades to sell. Associated British Foods: Liberum initiates with a target price of 3470p and a buy recommendation. Bodycote: Investec lowers target price from 750p to 745p and maintains its buy recommendation. Centamin:
Read moreMonday broker round-up
10th Nov 2014 15:34
RBS: Nomura reiterates reduce but lifts target price to 370p from 360p. IAG: Liberum reiterates buy, maintaining 550p target. Royal Dutch Shell: JP Morgan reiterates overweight stance but cuts target to 2,500p from 2,700p. Aveva: Westhouse Securities reiterates add and its target price of 1,780p.
Read moreThursday broker round-up UPDATE
6th Nov 2014 10:01
Amec: UBS cuts target price from 1185p to 1150p, while its buy recommendation remains unchanged. Afren: Liberum Capital cuts target price from 121p to 95p and stays with its hold recommendation. Antofagasta: Canaccord cuts target price from 790p to 760p and reiterates a hold recommendation. Associ
Read moreLondon midday: Stocks jump despite weak services data, M&S and Meggitt surge
5th Nov 2014 11:52
Strong gains from Marks & Spencer, Meggitt and Associated British Foods drove the UK stock market higher on Wednesday, as investors shrugged off some disappointing global economic data. Services purchasing managers' indices (PMIs) in China, the UK and Eurozone all weakened, showing that activity gro
Read moreLondon open: M&S, Meggitt lead UK stocks higher early on
5th Nov 2014 09:02
UK stocks rose on Wednesday as decent gains from Marks & Spencer, Meggitt, Tulllow Oil and AB Foods offset falls in the mining sector after yet more weak data from China. The FTSE 100 was trading 0.6% higher at 6,493 in morning trade. With the exception Japan's Nikkei index, Asian markets weaker ov
Read moreMeggitt predicts organic slowdown, but shares rise on buyback plan - UPDATE
5th Nov 2014 07:19
Engineering group Meggitt said organic growth will slow towards the end of the year but the stock rose strongly on Wednesday after the announcement of a share buyback. Meggitt, which works in the aerospace, defence and energy markets, said it would commence a buyback of up to 79.7m shares on Thursda
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