Shares in XP Power rise 4 percent after the electrical components maker says trading in the first quarter was strong, with revenue growing 10 percent over the last year.
'XP published a robust trading statement this morning which pointed to demand returning to 'pre-crisis levels' in its three markets of healthcare, industrial and technology,' says analyst Iain Staples of Altium Securities.
'Furthermore, today's statement means that turnover growth will accelerate over the next 18 months and gross margins will move upwards to reach 50 percent,' says Staples, who has a 'buy' rating on the stock.
Shares in Immunodiagnostic Systems Holdings Plc fall as much as 9 percent after the maker of diagnostic testing kits says it is still unsure on when it will get U.S. regulatory approval for its automated immunoanalyser IDS-iSYS.
'Continued delays to U.S. approval for the IDS-iSYS platform make us more cautious and we prefer to keep our forecasts unchanged for the time being,' Panmure Gordon analyst Savvas Neophytou says.
But the broker remains positive as full year sales beat its view and keeps its 'buy' rating.
'The stock has had a good run in recent months, but with further growth expected, we shall use any weakness today as a buying opportunity,' Panmure adds.
Shares in Anglo Asian Mining rise as much as 18 percent after the company posts record gold production in March from its Gedabek mine in Azerbaijan.
The miner says it has already exceeded its target of 25,000 ounces for the mine's first year of operation and anticipates this figure will more than double in 2010.
'Anglo Asian appears to have put to bed most of the technical problems surrounding the commissioning of its Gedabeck gold/copper mine,' says Andy Davidson, an analyst at Numis Securities.
He said the revised full-year production forecast of 53,500 ounces of gold was well above the broker's current 43,000 ounce estimate. Numis upgrades its recommendation to Buy from Hold and its target price to 24 pence from 11 pence.
Shares in e2v technologies Plc rise nearly 6 percent to 50 pence after the electronic components maker says it sees full year adjusted operating profit ahead of current market expectations.
E2v says a restructuring at its facility in France has helped performance recover.
'What is clear is that the restructuring is on track and that the management and employees are working hard to ensure that customers get the products they want on time,' says Seymour Pierce analyst Ian Robertson.
'Our view is that e2v's shares are simply too cheap,' the broker says, maintaining its 'buy' rating and 75 pence target price.
Shares in ARM Holdings shed 1.6 percent after Citigroup cuts its rating for the microchip designer to 'sell' from 'hold' citing valuation grounds.
Citigroup notes that ARM shares have outperformed their peers by 40 percent over the last 12 months, and by over 30 percent in the year-to-date.
The broker says ARM now trades on 32 times consensus 12 month forward earnings, a 70 percent premium to the global semiconductor sector.
'While the resilience of ARM's business model through the downturn and leverage potential through the upturn argue for a premium, valuation has now run ahead of fundamentals, in our view,' the broker adds in a note.
Citigroup, however, ups its full-year EPS estimates for ARM by 8.8 percent for 2010, 8.7 percent for 2011, and by 7.0 percent for 2012, predominantly to factor in the stronger dollar vs. sterling and, to a lesser extent, revised royalty revenue assumptions.
And the broker hikes its target price for ARM to 210 pence from 190 pence.
Shares in Ark Therapeutics rise as much as 15 percent after one of its drugs shows promising results in a preclinical lung cancer test. The biotech firm says it intends to seek a partner to develop the small-molecule programme further.
'It's very early stage research,' says Paul Cuddon, analyst at KBC Peel Hunt. 'A positive result at preclinical at this stage doesn't make too much difference, but if they were to go ahead and do a licensing deal on the back of that, it could be important.'
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