Tempus in The Times says the warning from Johnson Matthey that hit the market yesterday was not quite as drastic as those that have afflicted other global industrial producers this autumn, but the burden was much the same. The outlook for the global economy, and for key sectors such as American trucks and new investment in Chinese industry, is, at best, uncertain.In addition, about half the group by revenues is involved in the refining and distribution of precious metals, such as platinum and palladium. While plainly these feed into the group's catalytic convertors and other products that go into vehicles and industrial processes, performance here is driven by the background price of such metals, as well as demand from producers of jewellery and the like. This side has been hit by lower prices, with platinum off 16% in the first half to the end of September.The main concern for the market was that the outcome for the second half of the year, which traditionally is about 10% stronger in profit terms, will be little-changed on the first half. Pre-tax profits will come in, therefore, 10% or so lower this year, at perhaps £385m. This puts the shares, off 135p at £21.90, on about 14 times' earnings, after a decent run over the past year helped by the special dividend. At that level, and with no prospect of an immediate recurrence of that special payment, it is hard to see any reason for a short-term outperformance.Tempus says that Hyder Consulting is where it wants to be, focused on growing markets such as the Middle East and Australia and on areas such as energy, transport and the environment where the margins are rather better than in those it has exited, such as consulting and architecture. So it is only reasonable that shareholders should begin to benefit from this repositioning.First-half revenues to the end of September were 8% higher at £150m, and profits before tax and one-offs 28% up at £12m. Large projects, such as reservoirs and roads in Qatar, a country that the company has been targeting, are now contributing, while the company is well placed to win work from the metro being built in Doha, the capital. In Australia, Hyder gets about two thirds of revenues from transport and so is not exposed to a downturn in mining. China suffered a small halfway loss as work slowed down ahead of the country's change of leadership.One of the better metrics for such companies is the number of staff employed, and this rose by 8%, with more to come. Investors will see the halfway dividend doubled to 4.0p. This is, in part, a rebalancing exercise, but an expected full-year payment of 11p puts the shares, up 38p at 419.5p, on a forward yield of 2.6%, while they sell on about nine times' earnings. They are now up by almost a quarter since May, though, which suggests that much of the good news may be in the price for now.Questor in The Telegraph writes that catering group Compass is a well-run, globally diversified company operating in a defensive sector. It provides outsourced catering operations and support services for private companies such as Rio Tinto and public organisations such as The Pentagon and the Welsh Assembly. It also does catering at sporting events such as Wimbledon. As is usual, its full-year results contained no surprises to give investors fright.Annual revenues rose 8% to £16.9bn, but pre-tax profits slipped to £789m from £958m because of a £295m restructuring charge for Europe. When charges are stripped out, including one associated with the UK reorganisation last year, profits rose 7%. The prospective yield next year, based on analysts' forecasts, is 3.3%. The total dividend was increased by 10% to 21.3p and the final payment of 14.1p will be made on January 25th. The stated dividend policy to grow the dividend broadly in line with constant currency earnings, maintaining a cash cover of two times.Shares in Compass, which remains the world's largest food service group are trading on a 2013 earnings multiple of 15.2, falling to 14.1 in 2014. The shares are at about the same level as when Questor gave an update in September. Analysts see more upside, with the average price target of the 20 analysts monitored by Bloomberg being 745.3p, some 6% above the current share price. However, the shares still look fully valued and, although they offer good long term growth and a progressive dividend, they look fully valued for now. Questor says hold. CMPlease 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.