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WINNERS & LOSERS SUMMARY: Flybe Up After Takeover Block Threat Report

Mon, 21st Jan 2019 10:44

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - LOSERS----------Rentokil Initial, down 0.8%. Goldman Sachs cut its rating on the pest control and hygiene firm to Neutral from Buy.----------FTSE 250 - WINNERS----------Just Eat, up 1.3%. The takeaway food platform said Chief Executive Officer Peter Plumb is stepping down with immediate effect, and it is expecting significant revenue growth for both 2018 and the year ahead. The firm has promoted Chief Customer Officer Peter Duffy into an interim CEO role while it seeks a permanent replacement. Plumb had came under fire in December from 2% shareholder Cat Rock Capital, which called for the sale of Just Eat's non-core assets and adoption of a three-year financial plan. Just Eat expects to report annual revenue of approximately GBP780 million for 2018, up 43% from GBP546.3 million in 2017. The company is also expecting underlying earnings before interest, taxation, depreciation, and amortization of between GBP172 million and GBP174 million, up from GBP164 million in 2017. Moving forward, Just Eat predicted that its 2019 revenue will be in the GBP1.0 billion to GBP1.1 billion range..----------Babcock International, up 1.3%. Goldman Sachs raised the defence firm to its Conviction Buy List. ----------FTSE 250 - LOSERS----------Hammerson, down 3.7%. JPMorgan downgraded the retail property investor to Neutral from Overweight. ----------William Hill, down 3.2%. The bookmaker said it expects a drop in adjusted operating profit for 2018 due to increased expansion costs and due diligence measures. William Hill said adjusted operating profit for the year is forecast to be around GBP234 million, down 20% from GBP291.3 million reported for 2017. The figure is however in line with guidance, which forecast adjusted operating profit in the range of GBP225 million to GBP245 million. The decline in profit is due to the impact of enhanced customer due diligence measures and costs from the group's expansion in the US, William Hill said. On an underlying basis, operating profit rose by 4% in 2018. In addition, William Hill said it has completed the cash offer Swedish bookmaker Mr Green and now holds 37.6 million shares, 92% of the total.----------OTHER MAIN MARKET AND AIM - WINNERS----------Flybe, up 36% at 3.405 pence. The up-for-sale budget airline's largest shareholder could attempt to block a takeover of the company, Sky News reported on Sunday. Sky reported that in a letter to Flybe's directors, Hosking Partners - which holds just under a 19% stake in Flybe - warned it may try to get an injunction against the deal. Hosking Partners is also reported to have claimed Flybe's directors "allowed a false market in the company's shares to develop by failing to update the city on its financial position in a timely fashion". Earlier in January, Flybe agreed to sell its main trading company and online business for GBP2.8 million to Connect Airways, a joint venture between Stobart Group, Virgin Atlantic, and DLP Holdings. Before the deal was announced, Flybe's shares closed at 16.38p each which gave it a GBP35.5 million market capitalisation. Stobart shares were down 1.3%.----------Audioboom, up 19%. The podcast firm said it expects to report a strong performance in 2018, despite challenges created by its aborted Triton Digital acquisition. The company said revenue in the 13 months to the end of December 2018 almost doubled to USD11.7 million from USD6.1 million reported for the 12 months to the end of November 2017. Revenue per 1,000 listens in the US increased to USD25.87 in December 2018, up 36% from USD19.02 in May 2018. Adjusted loss before interest, taxes, depreciation, and amortization reduced to USD5.2 million from USD5.7 million year-on-year, with a much-improved performance in the final three months of the period, Audioboom highlighted.----------Filtronic, up 13%. The antennas manufacturer said it has appointed Quintel USA Inc as its exclusive distributor in North America to a number of mobile network operators for some antenna products. Filtronic said it also has agreed with Quintel's parent company Cirtek Holdings Philippines Corp to identify additional areas of co-operation, ranging from product co-development through to manufacturing. The products covered by these agreements include Quasi-Omni and Panel antennas developed specifically for the US market.----------OTHER MAIN MARKET AND AIM - LOSERS----------Dods Group, down 31%. The business intelligence and publishing firm issued a profit warning after lacklustre December trading and a likely increase in delivery costs for its final quarter. While October and November trading was broadly in line with its expectations, December "closed significantly behind". This was attributed to "unprecedented business uncertainty". Dods also anticipates fourth-quarter revenue will be hindered by increased costs of delivery as a result of long lead time contracts. The combination of these factors means in its year ending March 31 Dods expects to post a loss before tax, excluding non-cash impairments. This compares to a GBP1.3 million pretax profit the year before.----------

More News
20 Dec 2019 11:15

Just Eat rejects final Prosus offer, sticks with Takeaway.com

(Sharecast News) - Food delivery business Just Eat has rejected a final enhanced takeover offer from South Africa's Prosus and urged shareholders to approve the £6.3bn bid from Takeaway.com of the Netherlands.

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19 Dec 2019 17:59

UPDATE: Just Eat Reviewing Takeover Offers As Bidding War Heats Up

UPDATE: Just Eat Reviewing Takeover Offers As Bidding War Heats Up

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19 Dec 2019 16:42

Battle for Just Eat hots up as Prosus, Takeaway.com sweeten bids

(Sharecast News) - The battle for Just Eat intensified late on Thursday after Prosus and Takeaway.com sweetened their bids for the London-listed food delivery firm.

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19 Dec 2019 15:46

UPDATE: Takeaway.com Matches Prosus With New Just Eat Offer

UPDATE: Takeaway.com Matches Prosus With New Just Eat Offer

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19 Dec 2019 15:20

TOP NEWS: Prosus Makes Final GBP5.5 Billion Bid For Just Eat

TOP NEWS: Prosus Makes Final GBP5.5 Billion Bid For Just Eat

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12 Dec 2019 11:19

Takeaway.com Extends Just Eat Offer Period As Merger Gathers Pace

Takeaway.com Extends Just Eat Offer Period As Merger Gathers Pace

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12 Dec 2019 09:38

Takeaway.com extends Just Eat offer deadline

(Sharecast News) - Takeaway.com has exended the timetable for its offer for Just Eat after receiving acceptances representing less than 14% of the food delivery group's shares.

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11 Dec 2019 10:59

Liberum slashes price target on Just Eat

(Sharecast News) - Analysts at Liberum slashed their target price on delivery business Just Eat from 1,360p to 870p on Wednesday after the firm's board rejected an improved takeover bid from Prosus.

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11 Dec 2019 09:00

Takeaway.com accuses Protus of bidding for Just Eat 'on the cheap'

(Sharecast News) - The boss of Takeaway.com has rejected what he says are misleading claims made by Prosus in an attempt to buy Just Eat "on the cheap" as the companies battle to acquire the UK food delivery service.

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11 Dec 2019 08:57

Takeaway.com Lashes Out At Prosus As Just Eat Spat Intensifies

Takeaway.com Lashes Out At Prosus As Just Eat Spat Intensifies

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10 Dec 2019 15:56

Prosus Gets Just Eat Offer Boost From Spanish Regulators

Prosus Gets Just Eat Offer Boost From Spanish Regulators

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10 Dec 2019 08:29

Tuesday broker round-up

(Sharecast News) - ASOS: HSBC upgrades to buy with a target price of 3,615p.

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10 Dec 2019 08:04

TOP NEWS: Just Eat Rejects New Prosus Bid, Still Favours Takeaway.com

TOP NEWS: Just Eat Rejects New Prosus Bid, Still Favours Takeaway.com

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10 Dec 2019 07:29

Just Eat rejects revised Prosus offer

(Sharecast News) - Online food takeaway service Just Eat on Tuesday rejected a revised 740p-a-rival share offer from Prosus, saying it "significantly" undervalued the company.

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9 Dec 2019 12:07

UPDATE: Prosus Offer For Just Eat Still "Derisory", Says Takeaway.com

UPDATE: Prosus Offer For Just Eat Still "Derisory", Says Takeaway.com

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