With Tony Rice’s Cable & Wireless Communications perched just off their 52 week (and all time) lows, it will be interesting to see how the market reacts to their results due next week on the 24th May and whether there is in fact a dividend cut that has been speculated about by some analysts. With…
And so the restaurants, car dealers, real estate brokers and jewellers in and around Silicon Valley will be likely be doing brisk business this weekend and the equivalent to hundreds of multi million lottery wins are created with todays Facebook IPO. At its peak in early trade the shares hit $45 valuing the social media…
Update (2) – Given the fresh expressions of interest in the component parts of Plus Group by a variety of parties, there is increasing speculation that a break up bid is again being prepared by Gulf Merchant Bank. If this is the case they will certainly have to offer a premium to cash and a control…
Returning to a national currency after more than a decade of using the euro and having its money managed by the European Central Bank would catapult Greece into a financial, legal and political no man’s land. Countries have defaulted, devalued, or even withdrawn from a broader monetary union in the past. But none has done…
The social network shares haven been priced at the top end of the range it set earlier this week, when it said it would price its IPO at $34 to $38 a share from $28 to $35 a share, in a sign of the tremendous investor appetite for the offering. At $38 a share, Facebook…
UPDATE (2) – It seems logical for Gulf Merchant to return to the table now and sell the SX direct to Icap. With confirmation of Misra’s interest in SX and DX now seeing potential acquirers, at the current price the shares still trade at cash value. Any Venture Capital company worth their salt could generate a…
The new iPhone that Apple Inc. is expected to unveil this year is likely to have a larger display than its current models have, with the company ordering bigger screens from its Asian suppliers, people familiar with the matter said. The new screens measure at least 4 inches diagonally, the people said, compared with 3.5 inches on Apple’s…
And another day down – 9 out of 11. Vix upto 22, Put:Call ratio still firmly in bear camp territory.. . I had a couple of chats with various market participants and resignedness to the shakeout, forced selling and disgust were the prevailing sentiments relayed to me – to a contrarian trader, ones antannae are…
How does Greece leave the euro? In one scenario, a Greek authority would have to agree on a date with the rest of the euro zone for its departure and for the introduction of a new currency (let’s call it the new drachma). It would say that from that date, all public salaries, contracts and…
Conor Foley former CEO of Worldspreads Worldspreads’ board and the Financial Services Authority were alerted to an alleged fraud at the group’s former Irish unit three months before Worldspreads filed for administration in March, citing accounting irregularities. The board of Marketspreads, formed by a 2009 buyout of Worldspreads’ Irish business, wrote to the Worldspreads board…
