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WINNERS & LOSERS SUMMARY: Just Eat Drops As Deliveroo Plans Expansion

Wed, 13th Jun 2018 10:58

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - WINNERS----------Glencore, up 2.3%. The miner reported that subsidiary Katanga Mining signed a settlement agreement with the Democratic Republic of the Congo's state mining firm Gecamines. Katanga has been taking part in a joint venture in the DRC with Gecamines called the Kamoto Copper Co, which has been struggling with capital deficiencies. Katanga has a 75% stake and Gecamines 25% in the partnership. Under the settlement, Katanga will pay USD150 million to Gecamines related to "historical" commercial disputes and a further USD41 million related to outstanding expenses in the Kamoto exploration programme.----------Johnson Matthey, up 1.5%. Berenberg raised the chemicals firm's price target to 4,300 pence from 3,680p, while retaining its Buy rating.----------FTSE 100 - LOSERS----------Just Eat, down 8.1%. The online takeaway firm fell as the Guardian newspaper reported late Tuesday that rival Deliveroo intends to sign up 5,000 more UK eateries. Just Eat recently said it was planning to launch its own delivery fleet in the UK, Canada, Australia and New Zealand, competing with Deliveroo. In turn, Deliveroo announced its own UK expansion plans. ----------FTSE 250 - WINNERS----------TalkTalk Telecom, up 4.9%. Merrill Lynch lifted the telecommunications group to a Buy rating from Underperform.----------FTSE 250 - LOSERS----------Dixons Carphone, down 3.8%. The electronics retailer added extra security measures and engaged with cyber security experts after it noted an unauthorised access to its systems and data. In an investigation into the matter, Dixons said that so far it has found a fraudulent attempt to compromise 5.9 million cards in one of the processing systems of Currys PC World and Dixons Travel stores. As a result, the company said about 105,000 non-EU issued payment cards which do not have chip and pin protection have been compromised. Separately, Dixons identified that 1.2 million records containing non-financial personal data, such as name, address or email address, have been accessed. However, the company believes that this information was not taken outside the system and has not resulted in any fraud.----------OTHER MAIN MARKET AND AIM - WINNERS----------Active Energy, up 22%. The renewable energy and forestry management business said that AEG CEE, a joint venture company between Active Energy and Polish coal producer Cobant SP has had its SuperFuel product tested by the Polish Government Burn Test Laboratory. SuperFuel is a combination of Active Energy's CoalSwitch additive, mixed with reclaimed coal from slurry dumps in Upper Silesia, Poland. The blended product has been certified to carry the Polish Government's Ecological Safety Symbol, allowing it to be sold without restriction in the country.----------Upland Resources, up 16%. The oil and gas company intends to raise GBP3.0 million through the issue of 120.0 million shares at a price of 2.5 pence per share. Proceeds will go towards funding the Wick well, offshore UK, which is due to spud in the third quarter of 2018, and to advance potential new ventures in Sarawak, Malaysia, and North Africa.----------Northern Bear, up 15%. The building services company said it has traded strongly over the second half of its financial year to the end of March, leading to the expectation of annual revenue and operating profit being ahead of the year before. Revenue for the year ended March 31, 2017, was GBP45.6 million and operating profit was GBP2.5 million.----------OTHER MAIN MARKET AND AIM - LOSERS----------Connect Group, down 47%. The newspaper distributor materially reduced its adjusted pretax profit expectations for the year ending August 31 and said it will slash its dividend payment due to an extremely disappointing performance in the period following Connect's first half. The reduced expectations is a result of a material fall in volumes, increased costs in the Tuffnells and Pass My Parcel businesses, delays in planned cost savings and disappointing sales in World Cup related products. Connect has decided to close its Pass My Parcel business, and Chief Executive Mark Cashmore and Chief Financial Officer David Bauernfield have decided to step down from their positions.----------Haydale Graphene Industries, down 18%. The graphene materials group said pretax loss for the year ending June 30 will be below internal estimates but broadly in line with the year ago period. Revenue for 2018 financial year is anticipated to grow 15% to 20% year-on-year, but below management expectations. In 2017 financial year, the company recorded a pretax loss of GBP5.6 million and revenue of GBP3.0 million. The profit warning was attributed to the timing difference in recognizing revenue in the second half of the year, longer than expected lead times by customers to reach commercial volumes and unfavourable currency movements. The company's Chief Executive Officer Ray Gibbs has decided to resign from his position once a permanent replacement has been found.----------Dewhurst, down 14%. The components supplier to the lift, keypad and rail industries reported pretax profit of GBP2.8 million for the six months to the end of March, down from GBP3.0 million for the same period the year before. First half revenue fell to GBP24.7 million from GBP26.1 million due to the strengthening of Sterling and weaker demand for keypads.----------
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17 Apr 2024 11:16

Just Eat shares drop as Q1 orders disappoint

(Sharecast News) - Shares in Just Eat dropped sharply on Wednesday after the food delivery marketplace delivered underwhelming order numbers for the first quarter, though revenue growth picked up sharply in the UK and Ireland.

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28 Feb 2024 07:43

Just Eat guides to strong profit growth in 2024

(Sharecast News) - Takeaway group Just Eat delivered adjusted profits ahead of its own forecasts for 2023 and predicted a 39% jump in earnings this year as gross transaction value (GTV) excluding North America returned to growth.

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17 Jan 2024 07:46

Just Eat lifts full-year core profit outlook

(Sharecast News) - Just Eat Takeaway said on Wednesday that 2023 core profit was set to be ahead of guidance, following a strong fourth-quarter performance in Northern Europe and the UK and Ireland.

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26 Jul 2023 07:44

Just Eat delivers interim profit; CFO quits

(Sharecast News) - Meal delivery company Just Eat Takeaway.com swung to a profit at the half-year and said chief financial officer Brent Wissink would step down next May "to pursue other opportunities".

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21 Mar 2023 13:24

Just Eat to lay off 1,700 delivery drivers

(Sharecast News) - Food delivery firm Just Eat Takeaway is reportedly planning to axe around 1,700 delivery drivers amid a slowdown in demand.

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1 Mar 2023 08:11

Just Eat posts wider-than-expected FY loss

(Sharecast News) - Food delivery giant Just Eat Takeaway posted a wider-than-expected full-year loss on Wednesday despite seeing revenues increase due to increased spending levels.

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18 Jan 2023 08:51

Just Eat turns EBITDA positive in H2

(Sharecast News) - Food delivery giant Just Eat revealed on Wednesday that it had turned EBITDA positive in the second half of the year amid an increased focus on profitability during the period.

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16 Jan 2023 07:22

Just Eat partners with Sainsbury's for new delivery offering

(Sharecast News) - Food delivery group Just Eat has launched a new partnership with grocery giant Sainsbury's, marking the platform's second tie-up with one of the UK's "Big Four" grocers.

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17 Nov 2022 07:31

Just Eat agrees grocery deal with Getir

(Sharecast News) - Just Eat Takeaway.com has struck a Europe-wide partnership deal with Turkey's Getir, the grocery delivery firm.

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10 Jun 2022 07:50

Just Eat's US wing attracts interest from private equity firms

(Sharecast News) - Food delivery giant Just Eat's US wing has attracted preliminary interest from private equity firms, including Apollo Global Management.

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20 Apr 2022 08:47

Just Eat considers sale of Grubhub as orders dip

(Sharecast News) - Just Eat said on Wednesday that it was considering the partial or full sale of Grubhub as it reported a dip in first-quarter orders and cut its guidance for the full year.

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2 Mar 2022 08:22

Just Eat loss smaller than expected, to exit Norway Portugal

(Sharecast News) - Meal delivery company Just Eat Takeaway.com, reported a smaller-than-expected annual loss core loss on Wednesday and said it was exiting Norway and Portugal

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8 Feb 2022 08:36

Just Eat to delist shares from Nasdaq

(Sharecast News) - Food delivery platform operator Just Eat Takeaway revealed on Tuesday that it will delist its shares from the Nasdaq as part of an effort to cut both costs and regulatory burdens.

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12 Jan 2022 08:47

Just Eat FY orders and gross transaction value increase in 2021

(Sharecast News) - Online food delivery platform operator Just Eat Takeaway said on Wednesday that orders grew 33% year-on-year in 2021 to 1.1bn and gross transaction value increased 31% to €28.2bn.

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25 Oct 2021 10:32

Cat Rock Capital urges Just Eat Takeaway.com board to sell or spin-off Grubhub by end of year

(Sharecast News) - Investment firm Cat Rock Capital Management has sent a letter to the board of Just Eat Takeaway.com, urging it to sell or spin-off Grubhub by the end of the year in order to refocus the business and address the "deep and damaging undervaluation" of its equity.

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