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LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.
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FTSE 100 LOSERS
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Tesco, down 1.6%. The supermarket continues to fall after it cut profit expectations last week. Major shareholder, David Herro, told the Sunday Telegraph he has cut his investment from around 3% to 1% due to the absence of a clear strategy.
GlaxoSmithKline, down 0.9%. The company faces a potential shareholder revolt from investors calling for Chairman Chris Gent to leave more quickly, the Sunday Times reported, citing a senior City source. Several big institutions are calling for the chairman or chief executive to leave this year due to Glaxo's poor share price performance and growing corruption claims, the report said. Gent has said he will stand down next year, and is likely to be succeeded by Royal Bank of Scotland Group Chairman Philip Hampton.
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FTSE 250 WINNERS
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Perform Group, up 26%. The digital media company urged its shareholders to take no action after the US's Access Industries Group made a final cash offer to acquire all of the shares in the company it does not already own for 260 pence per share, valuing the company at GBP701.6 million. Perform reiterated its confidence in its standalone strategy and growth prospects, and said it remains focussed on "delivering significant value for all shareholders." Access said the bid was final and would not be increased.
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FTSE 250 LOSERS
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Ocado Group, 1.6%. The company has had its rating cut by Exane BNP to Underperform, from Neutral, and its price target cut to 265 pence, from 300p. The stock is trading at 324.1p
Spirax-Sarco Engineering, down 1.6%. The company had its rating cut by Numis to Hold, from Add, and a price target cut to 3,000 pence, from 3,050p.
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AIM ALL-SHARE WINNERS
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Seeing Machines, up 26%. The company said that it had signed a 15-year strategic alliance with advanced driver safety systems company Takata Corp's American subsidiary TK Holdings Inc. The two companies have been working together on driver monitoring technology for two years, Seeing Machines said, and Takata recently won a contract to implement a mass-manufactured driver-monitoring system. Seeing Machines will see revenues from a combination of minimum licence fees and royalties, it said. The two will also look at opportunities beyond passenger cars into all forms of road vehicles, it said.
Forbidden Technologies, up 18%. The company said that the first alpha testing versions of its social video platform 'eva' have been released, and customers can now apply to join the test. 'Eva' is a video editing and sharing platform based on Forbidden's FORScene cloud video platform. The alpha test is designed to test specific features and infrastructure which are beyond what would have been possible with earlier prototypes, it said.
Crimson Tide, up 18%. The company said that it has signed a "transformational" contract with a global food company which is expected to generate contracted margin revenue of GBP250,000 during the term. Under the terms of the agreement, which will last in excess of three years, Crimson Tide's mpro5 system will provide the client with Proof of Delivery and Estimated Time of Arrival information for its own and third party deliveries. mpro5 will communicate with the client's SAP system to collect and receive delivery data from mobile devices used by drivers and delivery workers. Upon the achievement of an extended worldwide rollout - which will commence in Australia "imminently" - the size of the contracted margin revenue could rise significantly above GBP250,000, conditional on the number of users, said the mobile solutions provider.
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By Neil Thakrar; neilthakrar@alliancenews.com
Copyright 2014 Alliance News Limited. All Rights Reserved.
2 May 2024 19:57
GSK knew about Zantac cancer risk, attorneys tell jury in first trial
May 2 (Reuters) - U.S. attorneys for a woman who claims her colon cancer was caused by the now discontinued heartburn drug Zantac on Thursday told a jury in Chicago that pharmaceutical companies GSK and Boehringer Ingelheim knew the product could cause cancer if it was not handled properly but failed to warn the public.
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