Monday broker round-up
1st Jun 2015 09:48
Lamprell: Citi reiterates neutral recommendation and raises target to 155p. British Land: JP Morgan ups target to 970p from 950p and stays at overweight. Derwent London: JP Morgan raises target to 3,900p from 3,800p but keeps at overweight. Great Portland Estates: JP Morgan lifts target to 920p fr
Read moreFTSE 250 movers: Booker soars on retail bid, Inchcape hit by weaker revenue
21st May 2015 13:20
London's secondary equity index was inching higher on Wednesday afternoon, buoyed by stronger than expected retail sales and strong performances from mining, telecommunications and pharmaceutical stocks. As of 3:40, the FTSE 250 was trading 4.4 points higher at 18,140. Food wholesaler Booker jumped
Read moreQinetiq impresses with dividend hike and 2016 outlook despite sales shortfall
21st May 2015 08:15
Although full-year sales from Qinetiq were slightly short of expectations, the defence and aerospace technology company brought investors around with a 17% hike in the dividend. Underlying revenues for the year to end-March fell 2% to £763.8m, some way off the market's hopes of £796m, but with a 10
Read moreQinetiq reiterates full year guidance
31st Mar 2015 11:42
Technology solutions provider QinetiQ reaffirmed previous guidance for the financial year ended 31 March. The FTSE 250 group, which held its pre-close meetings with analysts on Tuesday, put out a very short statement that confirmed there had been no material worsening or improvement in its performan
Read moreQinetiQ appoints Wadey as new CEO
27th Jan 2015 16:30
Defence technology group QinetiQ Group has appointed Steve Wadey as its new chief executive (CEO) to replace Leo Quinn on Monday. Wadey, will leave his post as managing director of missile system business MBDA UK, to join the company in the second quarter of the current financial year and will recei
Read moreQinetiq warns on UK defence market uncertainty
20th Nov 2014 08:07
Defence group Qinetiq warned of uncertainty in the UK defence market and its global product division as it reported higher first-half profits but lower revenues. Qinetiq said changes in the UK budgetary environment resulting from the upcoming General Election as well as the Ministry of Defence's (Mo
Read moreBalfour Beatty Q3 orders flat but trading in line
18th Nov 2014 07:36
Civil engineer Balfour Beatty reported trading in line with expectations but said orders were flat at £11.7bn at the end of the third quarter. Balfour, which has replaced its chief executive with former Qinetiq boss Leo Quinn and has fended off a takeover bid from rival Carillion, said the order boo
Read moreBalfour Beatty finance chief quits
4th Nov 2014 09:18
Balfour Beatty finance chief Duncan Magrath is quitting just over a month since the civil engineer issued its fifth profit warning in two years. The FTSE 250 group, which fought off a takeover bid from rival Carillion, said the hunt for a new chief financial officer (CFO) will begin soon, with Magra
Read moreFTSE 250 movers: CSR leads on buy-out deal
15th Oct 2014 15:53
CSR shares leapt after fellow chip designer Qualcomm announced it was buying out the company for 900p a share or £1.56bn - a 36% premium to Tuesday's closing price. Infrastructure group Balfour Beatty saw its share price jump after appointing Qinetiq's chief executive officer Leo Quinn to take up th
Read moreQinetiq EMEA services strength balancing lumpiness concerns
30th Sep 2014 10:21
Defence and security technology group Qinetiq maintained its full year profit guidance thanks to strong growth from its services division outweighing uncertainty and lumpy revenues in other markets. The FTSE 250 company, a former Ministry of Defence spin-out, expressed caution that the current MOD t
Read moreSummit chief buys 30,000 shares
30th Jul 2014 16:48
AIM-listed drug developer Summit, which develops therapies for Duchenne Muscular Dystrophy and C. difficile infection, on Wednesday said its chief executive Glyn Edwards had acquired 30,000 shares. The 104.5p-a-share deal cost Edwards £31,350 and took his stake in the group to 233,333 shares. The
Read moreFTSE 250 movers: IG Group rises on increased divi payment
22nd Jul 2014 15:59
IG Group leapt following what broker Numis Securities termed a "substantial" increase in its dividend payment, up 28% to 22.4p. The financial spread betting firm reported a 2.4% rise in full-year trading revenue to £370.4m. Numis kept its 'add' rating on the stock with a target price of 665p. Secu
Read moreQinetiQ maintains full-year outlook
22nd Jul 2014 09:10
Security and defence group QinetiQ has maintained its outlook for the full year, although noted the uncertainty caused by the Ministry of Defence's (MoD) transformation programme and within its own Global Products division. The FTSE 250-listed company explained that the uncertainty caused by the M
Read moreCranswick non-exec builds stake
23rd Jun 2014 16:27
Non-Executive Director Mark Reckitt has modestly increased his holding in food producer Cranswick with the purchase of 1,300 shares. The £15,795 deal, in which Reckitt bought the shares at 1,215p each, came around one month after the group, which is Britain's largest pork processor, shrugged off r
Read moreSector movers: Rolls-Royce cash return lifts aero/defence stocks
19th Jun 2014 14:55
Aerospace and defence stocks were leading the risers on Thursday after engineering giant Rolls-Royce impressed investors with an unexpected £1bn cash return. Shares in Rolls jumped over 7% today after the firm pledged to buy back £1bn of shares if it succeeds in selling its energy gas turbine and c
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