Imagination Technologies Group Share News (IMG)

Cobol software supplier Micro Focus has lost nearly one-third of its value as it warns that its full year figures will be disappointing. Revenues in the three months to January 2011 were below expectations and the shortfall will not be made up this year. A number of deals were deferred or lost. The business is still cash generative. Net debt is $5.5m. Panmure Gordon has cut its revenue forecast to $428.2m in the year to April 2011, which is slightly below the company's guidance range. The earnings forecast has been slashed from 55 cents a share to 44 cents a share. Panmure Gordon has a price target of 368p. A licence agreement with STMicroelectronics has boosted the share price of Imagination Technologies. Imagination will receive licence fees and royalty revenues for the use of its System-on-Chip Intellectual Property.FTSE TechMARK - Risers Renovo Group (RNVO) 16.75p +8.06%Imagination Technologies Group (IMG) 363.50p +7.10%Oxford Biomedica (OXB) 6.80p +6.25%Xaar (XAR) 220.50p +3.04%Kewill (KWL) 91.00p +2.25%Computacenter (CCC) 418.20p +2.00%Vernalis (VER) 47.00p +1.62%Ricardo (RCDO) 355.00p +1.43%Electronic Data Processing (EDP) 54.00p +0.93%Psion (PON) 93.00p +0.81%FTSE TechMARK - Fallers Micro Focus International Plc (MCRO) 273.70p -30.71%Hiwave Technologies (HIW) 3.62p -8.81%Parity Group (PTY) 25.25p -6.48%Skyepharma (SKP) 35.50p -4.70%Ark Therapeutics Group (AKT) 4.50p -4.26%ARM Holdings (ARM) 624.50p -4.07%Cable & Wireless Worldwide (CW.) 73.00p -3.95%Phytopharm (PYM) 8.88p -3.95%Asterand (ATD) 18.00p -2.70%Sepura (SEPU) 44.50p -2.20%