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Well that's Q1 done and dusted. The T350 down 31% Idea up 14% Aim off 3% & the All Share fell 7.8% so no complaints on Ideas performance.
Treading water atm u/c at 113-116. The London techs had a better day eeking out 21pts. Mfocus up 26 and Sage +10 led the gainers. Overnight a tech sell off on the Nas (-212) will see London lower across the board at open - called 41 down -- backstopped by a brighter looking opening over the pond.
Ideagen expands in South East Asia upgrading into a new purpose built premisis in Kuala Lumpur. Full announcement on Co home site.
Https://www.ideagen.com/company/news/ideagen-to-expand-operations-in-southeast-asia/ "Ideagen to expand operations in Southeast Asia 26 March 2018 Ideagen, the global software firm, is expanding its operations in Southeast Asia. The project involves Ideagen�s office in Kuala Lumpur, Malaysia, and will enhance the company�s support, development and service capability for its 3000+ client base. The expansion, relocation and refurbishment will strengthen Ideagen�s operational foundations across the Asia-Pacific region as well as �future proof� the business against potential operational risk. The new Kuala Lumpur office will act as a central hub for Ideagen�s expanding business in the region following prominent projects with AirAsia, Lion Air, HKExpress and Haeco. Around 40 members of staff will be located there, with Ideagen already adding software development expertise. Barnaby Kent, Ideagen�s Chief Operations Officer, said the expansion was a natural step for the company and would cement Ideagen�s place as a leader in the Governance, Risk and Compliance (GRC) marketplace. He added: �In recent years, we have witnessed rapid growth both through acquisitions and organically and this expansion project is a natural next step in Ideagen�s journey. etc"
Microfocus pulled out of a 9 day losing run on Friday but still ended sub 1000 and trades on a measly 6x forward earnings. The $8.8bn deal with HP has thrown up many integration problems and the implementation of a new IT system is causing chaos not least in cash collection! Staff leaving is another blow to the Co, no software Co can afford to have trained staff walking out the door. Whatever bank on more money being spent on righting the wrongs. Short term the sp might be about right - bulls of the stock see £20 a share. If i had spare i'd be putting it elsewhere remembering the 90's when Mfocus issued a nos of profit warnings. From memory i bought on one of them.
For starters we didnt close at 117 Lse seem incapable of putting the correct sp up. How about 115? Given the rock'a rolla slump on Nsdq (-174) that wasnt too bad -even the t350 added a few points as Mfocus led the rebound. Sage was clipped a few points (644-5). Asia & London called lower at open first thing Mon as Trumps China barrage gets priced in should matters escalate into a global trade war. One would think sensible heads will rethink matters but Trumpton does policy on the hoof and via Twitter, so any bloody outcome is possible. Trouble is will there ever be a period of calm while Billy the Kid is in charge?
I'm waiting for 110 sub...on the cards if the Street tanks again..which today looks unlikely but the afternoon crowd usually have diff ideas...and can crater the nos in a flash....as ever watch and wait. I ain't buying the barrow boys small shake out one bit.
T350 down again...no surprise there given whats going on in the wider world. Currently 32% down ytd. Tech bellwether stocks out of favour, Microfocus fell near 7% (912) and Sage off 13 to 649p. Techs have been the structural leader of this 9 year long bull market so expect them to be singled out first when mrkts get the 'fits'. So far so good for Idea.
T350 bounces off lows still c.2% down against a depressive mrkt running ahead of a tanking Dow called 200 lower...nervous holders will be out of Idea short term hoping to catch 110...as ever I sit back glass of beer in hand puffing a near Havana....knowing full well the future is bright.
Some chunky late reported sells (i assume) c.1.229m at 117 didn't dent the sp. The t350 fell again but well off 1200 lows closing at 1219. Microfocus another down day but again bargain hunters were active in the low 900-20 levels..pushing up to close at 972 that's a c.1020p fall on wk so far...ouch!.
Div paid on 18th..Lots more vol this morning...could be Msoft investors cutting losses and joining us - or might herald other moves...ie an acquisition?
Next news scheduled at the pre close up date (F/yr) wk/c 14th May (wk 20).
Disappointed pis in Microfocus could switch to us in the run up to our results. Upside to Mfocus in sp terms, given lower revs will be hard going short term for sure. Trade deals in Idea atm suggest little switching.
Microfocus after a bright start ended down on the day (991) helped by broker downgrades one particularly silly one of 90p -- Deutche holding to 780. Didn't help the T350 which fell again now down 30% ytd. Techs like all sectors await Fed & BOE moves.
Inching up ever so slowly on nothing vols and jobbers feeling pis trades. Yea..pis are controlling the flow of trades and prices atm. Most AIM stocks travel down the flow of traders moves -- the iis taking a back seat when it comes to disclosing their positions...maybe good or bad for them I don't know...but in my limited experience they will dump at the first opportunity if they can find a buyer. Happy days who needs flaky iis on the register?
Somebody just paid £12 to buy 4 shares....blimey must be expecting a 20 bagger unless I'm missing some special shakehand gang code --- that looks hopelessly optimistic...but good luck!
After Msoft fall fom grace the Sage group is now Britain's largest tech co valued at £7.2bn v Msoft £4.4bn. Idea rattles around in their petty cash drawers.
M/focus bounced off a 780 low to close at 1011 a fall on the day of 46%. Very much doubt that was warranted but great for believers taking advantage of Mr Markets generosity. I had some of these years ago sub 100 (from memory) sold out for a decent profit but up massively since - near a 10 bagger. Buy'n hold paid off in spades on that occasion. HP integration worries one of the underlying problems but still prefer Idea at this stage of their growth cycle despite the 'high' P/e which is only high if comparing to others not strictly comparable. Software businesses are rarely in direct competition to one another they may overlap for sure so a high p/e for one may be fully justified for another the opposite. A more reliable comparison if you like is the per share earnings power of a company v others along with durable strengths and top class management making a good return on tangible assets. So far Idea have performed well on all counts. At sometime in the future Idea will have a poor year thats the law of averages but should have a strong enough balance sheet to cope with the odd misfire.
An UP close always acceptable as the wider T350 had a shocker falling 18% and now down 29% ytd. No doubt due in part to Facebook woes on Nsdq where they fell 7%. The story will headline most business sections mrkt news and page one's as well.
Microfocus update disappoints but 800p disappoints!!!!!?
British Bulls detect a bullish pattern and switch from a hold recommend to a Buy (following those chunky buys late Fri?). Must admit seen it many times before when out of the ordinary trades presage zilch.....we shall see.
11...obviously.
I'm not sure whether those lumpy buys on Friday herald anything of interest to pis. Perhaps an acquisition is round the corner? If so i do hope it will be financed by internal funds, ie cash and not by issuing shares which might mean Idea holders giving far more than they receive. If no suitable earnings enhancing acquisition can be found Idea could use surplus cash by repurchasing shares....usually a plus for holders as long as they are bought at a price below intrinsic value. Might be a close call with Idea atm. Even if Ideas stock price is undervalued no repurchase should be considered if the company needs all its available money to protect or expand its operations even if an investment opportunity offers greater value than the undervalued shares. What is smart at one price is silly at another. How many examples have there been of Co' s overpaying and worse by issuing shares for the purchase to materially effect the Co pretty soon after? Idea is very much on the growth tack evidenced by past bolt- ons --- so we're in an enviable position of having options to improve shareholder value, short or long term.
Looks like they didn't try so a better end to a dull week with no co specific news to fall back on. The 350T fell 13 and currently c.13% down ytd v the tech heavy Nsdq up 8% ytd. Aveva was the big faller of the week on calling off the Schneider deal after just two days of talks. Not far short of 3000 three months ago the sp is now c.1950. Bellwether stock Sage (687) at the bottom end of its 52wk range (830-610) was little changed on wk but down from 800..ish in Jan.
Watch the barrow boys cut their exposure towards close...