Yesterday's Salz report into what went wrong at Barclays makes for interesting reading but adds little to the promises which have already been made. Nevertheless, it does shine a light on some problems, such as that of high pay for average performers. In any case, the review will help hold the new group Chief Executive to account, but offers little new information to shareholders about what kind of investment Barclays will be in the future, the FT's Lex column writes this morning. Defence group Chemring is in the midst of a turnaround plan, so forecasting remains a challenge. In fact, City analysts have recently been trimming their own estimates. However, the company's valuation is low and just last week it demonstrated that it is able to win contracts with the US Defence Department despite the paralysis currently gripping all things budgetary at the Pentagon. Trading on a forward price-to-earnings ratio of 10.3, falling to 9 in 2014 and offering a prospective yield of 3.3%, The Telegraph's Questor team rates the shares as a risky, speculative buy.Astra Zeneca's announcement yesterday that it was buying US biotech firm AlphaCore Pharma's leading compound, which has just passed Phase 1 clinical trials, marks another step in the company's new strategy of buying into new promising drugs to fill gaps in its own pipeline. That is very important given that the company is more exposed than peers to the so-called 'patent cliff.' As for the specifics of the transaction, it must be pointed out that it compliments other Astra products in the cardiovascular area. More relevant, some analysts believe that this transaction could soon be followed by several others in the respiratory field. Even so, and despite the support of a 5.7% yield, further gains look limited after Chief Executive Pascal Soriot halted the company's share buyback programme, The Times's Tempus says. Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.AB