Berenberg sees upbeat aerospace outlook, but Iraq unrest may weigh
17th Jun 2014 14:13
Defence firms are cashing in on more US budget certainty and civil aerospace prospects remain good, but Iraq unrest could throw the cat among the pigeons, broker Berenberg says. Civil aerospace and defence stock valuations have converged in the last year as defence headwinds have moderated and prof
Read moreQinetiQ CFO sells shares post vesting
28th May 2014 15:32
The Chief Financial Officer of defence group QinetiQ, David Mellors, on Tuesday sold 52,848 shares after the company vested earlier the same day. Mellors, who was appointed to the role in August 2008, traded in the shares at just under 195.47p a share, maintaining his stake at 376,016 shares. Le
Read moreQinetiQ completes sale of US Services division, share buy-back to commence
27th May 2014 07:52
Aerospace, defence and security services group QinetiQ has completed the sale of its US Services division, paving the way for a cash return to shareholders. The $165m disposal to US firm The SI Organisation, which was first announced on April 22nd, has received all regulatory and shareholders appro
Read moreUS defence cuts hit Qinetiq but other businesses picks up
22nd May 2014 08:08
US defence budget cuts hit annual profits at Qinetiq, but the defence group said its non-US activities were picking up. Qinetiq, which makes James Bond-style gadgets such as bomb-defusing robots for military and commercial uses, blamed the US pullout from war-zones such as Afghanistan for a 21% fal
Read moreFTSE 250 movers: Pharmaceutical stocks surge
22nd Apr 2014 15:10
Worldwide Healthcare Trust and Hikma Pharmaceuticals tracked their FTSE 100 peers higher after AstraZeneca gained strongly on the back of takeover speculation, Shire rose following broker comment, and GSK also jumped after announcing a massive three-part deal with Swiss pharmaceuticals peer Novartis
Read moreQinetiQ plans 10 per cent buyback after sale of US business
22nd Apr 2014 07:06
Defence technology group QinetiQ has agreed to sell its US services arm and return the bulk of cash to shareholders. With a cash consideration of $165m (£100m) to be paid, plus a potential earn-out of up to $50m, the FTSE 250 company said it intends to return much of the value via a a £150m share
Read moreLondon pre-open: Stocks expected to move higher early on
28th Mar 2014 07:35
A positive start is expected for UK stocks this morning, led by gains seen in Asia overnight and recovering after yesterday's session which saw both miners and banks drag the main index lower. City sources predict the FTSE 100 will open around 18 points higher than yesterday's close of 6,588.32.
Read moreTroop withdrawal from Afghanistan hits QinetiQ
28th Mar 2014 07:16
The withdrawal of US troops from Afghanistan is delaying orders at defence group QinetiQ. QinetiQ, which makes James Bond-style gadgets for the military and intelligence services, said the gradual reduction of operations in Afghanistan was causing slippage in order flow and delivery schedules in it
Read moreSector movers: Rolls-Royce profit warning hits defence stocks
13th Feb 2014 16:27
Aerospace and defence stocks were hammered on Thursday by a profit warning from sector heavyweight Rolls-Royce, after the company said that cuts in government defence spending would keep a lid on profits this year. The world's second-largest maker of aircraft engines revealed an estimated 15-20% dr
Read moreQinetiQ confident on full year despite challenging markets
7th Feb 2014 07:08
Ministry of Defence spin-off QinetiQ assured cash generation in the third quarter was "good" and that despite short-term uncertainties and challenging markets it is confident of delivering on expectations for its full year to March. In a third-quarter update the Farnborough-based defence technolog
Read moreFTSE 250 movers: Ashmore declines on falling AuM
14th Jan 2014 15:49
Ashmore, a UK fund manager that invests in emerging markets, saw its shares dive after it said assets under management fell 4.1 per cent during the quarter ended December 31st amid continued market volatility. AuM fell to $75.3bn during the quarter from $78.5bn as a result of net outflows totalling
Read moreBroker snap: UBS ups defence targets after US budget deal
13th Jan 2014 09:58
UBS has lifted its target prices for European aerospace and defence stocks, saying that the budget deal in the States reduces the uncertainty hanging over the sector. After being passed by Congress in mid-December, President Barack Obama signed a two-year budget deal at the start of the year that e
Read moreSector movers: Defence stocks gain after US budget
11th Dec 2013 15:45
Aerospace and defence stocks were on the rise on Wednesday after a budget deal in Washington removed some uncertainty in the sector, which is heavily dependent on state funding in the States. Chief Congressional negotiators Senator Patty Murray and Representative Paul Ryan last night worked out a d
Read moreFriday tips round-up: Qinetiq, National Grid
22nd Nov 2013 07:25
Qinetiq on Thursday unveiled a sharp drop in pre-tax profits as operating margins shrank by a third. Yet investors goosed the shares higher by seven per cent after learning that net cash was up by two thirds and that full-year guidance had been maintained. Clearly, some shareholders believe they are
Read moreFTSE 250 movers: QinetiQ rises on in-line results
21st Nov 2013 15:24
QinetiQ, the defence, security and aerospace company saw its share price rise strongly after it raised its interim dividend per share to 1.4p from 1.1p, due to its confidence that its Organic-Plus strategy will deliver value to shareholders over the medium term on the back of in-line first half resu
Read more