Initial jobless claims in the US jumped sharply in the week ending July 14 to 386,000, as reported today by the US Labor Department, while economists surveyed by Bloomberg were expecting 365,000. Last period claims were revised higher by 2,000 to 352,000, but still the lowest number in weeks. Initial jobless claims have been consistently…
The RNS this morning from JJB was truly shocking and, as much as it pains me to say it, Evil Knievil was correct on this one and we were wrong. We were ready to give Keith Jones the benefit of the doubt following extensive dialogue with him towards the end of last year. Alas, it…
Following our “balls to the wall” Trading Buy call yesterday on Nokia (see post), Nokia today reported better than expect results, with an adjusted loss per share of 8 euro cents, compared with the market’s average forecast of 9 euro cents, and held net cash of 4.2 billion euros ($5.2 billion), compared with the market’s…
Determined buying this morning and a suspicious 50k print yesterday. UPDATE – We have just spoken with Buchanan – their corporate relations company and the words “no comment” in relation to a bid approach were relayed. With the stock now up 25% it looks likely that a stock exchange announcement is likely to be forced…
Xcite energy announced this morning that the Bentley field extended well test (EWT) well is flowing at a stabilised rate of 2900 barrels a day, exactly in line with the December 2010 well test (at which point the shares rose to over £4 albeit with almost half the number of shares in circulation!). They also…
UK Corporate Announcements Britvic announces Q3 revenues fell 7.6%, 5.1% constant currency, impacted by the poor weather and product recalls and states it is reviewing its plans for 2013 and expects a reduction in its 2013 guidance Kingfisher details Q2 LFL sales fell 0.4% stating the inclement weather affected sales, and expects gross margins to…
In early June, the Shabeel North well in Puntland, Somalia was spudded with a targer depth of 2400 metres. The well is operated by Canadian listed Horn Petroleum (60% share) with AIM listed Red Emperor Resources holding a 20% interest and AIM/ASX listed Range Resources 20%. The drill was planned to take around 60 days…
Yahoo was originally founded by Stanford students Jerry Yang and David Filo to produce an early web portal giving access to a directory of websites before the advent of search engines like Google, and also to provide bespoke internet content. In 2008, Microsoft proposed a $44.6 billion takeover of the company, at $31 a share,…
An interesting RNS from Worldlink whose shares are still under suspension – Andrew Ellis secures 51% of Worldlink’s Sports Division Worldlink Group Plc (“Worldlink” or the “Company”), the UK listed Company with patents on providing changing data in real-time for mobile devices, today announce that Across the Line Limited, a company funded by London based…
It’s fair to say that the 2 picks that we have got wrong this year are Research in Motion& Nokia – calling Conviction Buys on both at prices of $13 and $2.50 respectively. We believed the brands, balance sheet cash piles, price to cashflow, price to book etc made them a raging buy at prices…
