PIC.L Share News (PIC)

Stocks are higher this morning, but the share price of Pace has plunged after the set-top box maker lowered its full-year profits guidance.The shares are down more than 40% after it said the board now expects operating profit to be in the range of $150m to $170m (£97m - £110m) after the group battled against a number of factors which affected profitability and margins in the first quarter.However, Intercontinental Hotels, a strong riser today, provided some cheer on the global economy. It said it is confident for the full year after strong growth in the US, where it posted the biggest increase in the amount it makes for every available room since before the financial crisis, helped boost profits. Pre-tax profits before exceptional items at the Holiday Inns owner climbed to $96m from $68m on revenues that were up to $396m from $362m. Imperial Tobacco is another FTSE 100 constituent posting good gains. The company behind cigarette brands such as Davidoff and Gauloises and Golden Virginia tobacco posted earnings growth ahead of expectations in the half year to 31 March as growth in emerging markets drove sales higher.Oil and gas group BG Group is lower after it became the latest to report the impact of higher taxes on North Sea oil production, saying they have reduced its first quarter earnings by $265m (£162m) and will impact production over the full year. Revenue in the three months to 31 March was up by 7% to $4.8bn. Earnings per share fell to 24.2 cents from 32.5 cents. BG said the company's effective tax rate for 2011 increased to 45% from 42% "primarily as a result of the recently announced change in UK North Sea taxation." Engineering group Morgan Crucible is higher after it posted a better than expected performance in the first four months of the year and is confident of being modestly ahead of expectations at the half year. The engineer said the full year outlook also remains positive as it experiences good trading momentum across its end markets and geographies.No frills airline easyJet is a high flyer even after it nearly doubled first half losses as fuel prices increased and as customers remained cautious about flying in difficult economic conditions. For the six months ended 31 March 2011 loss before tax widened to £153m from a loss of £79m a year earlier. Total revenue increased to £1.3bn from £1.2bn previously.Also in travel, tour operator TUI Travel reduced half year losses, lifted its dividend and said it was on track to deliver full year results in line with expectations. The company, which owns First Choice and Thomsons, said pre-tax losses narrowed to £364m in the six months ended 31 march 2011 from a loss of £375m the same time a year before. Revenue for the period increased 5% to £5.2bn. FTSE 100 - RisersImperial Tobacco Group (IMT) 2,222.00p +3.01%Capita Group (CPI) 755.00p +2.65%InterContinental Hotels Group (IHG) 1,280.00p +2.48%Rio Tinto (RIO) 4,224.00p +2.14%Royal Bank of Scotland Group (RBS) 42.50p +1.92%BHP Billiton (BLT) 2,443.00p +1.54%Weir Group (WEIR) 1,940.00p +1.52%AstraZeneca (AZN) 3,147.00p +1.50%TUI Travel (TT.) 247.20p +1.48%Xstrata (XTA) 1,440.00p +1.44%FTSE 100 - FallersBG Group (BG.) 1,380.00p -3.87%United Utilities Group (UU.) 610.00p -0.49%ITV (ITV) 73.75p -0.34%Diageo (DGE) 1,261.00p -0.32%Resolution Ltd. (RSL) 296.60p -0.27%SABMiller (SAB) 2,218.50p -0.20%Invensys (ISYS) 328.50p -0.15%Man Group (EMG) 245.70p -0.12%Legal & General Group (LGEN) 116.60p -0.09%Hargreaves Lansdown (HL.) 608.50p -0.08%FTSE 250 - RisersEnQuest (ENQ) 135.20p +4.00%Morgan Crucible Co (MGCR) 326.30p +3.88%easyJet (EZJ) 357.40p +3.06%Premier Foods (PFD) 33.72p +2.96%Babcock International Group (BAB) 650.00p +2.85%Hochschild Mining (HOC) 564.00p +2.45%Bodycote (BOY) 391.60p +2.33%BTG (BGC) 254.40p +2.17%WH Smith (SMWH) 503.50p +2.05%Spectris (SXS) 1,503.00p +1.97%FTSE 250 - FallersPace (PIC) 92.10p -39.76%Kofax (KFX) 450.00p -1.75%Exillon Energy (EXI) 442.00p -1.58%Supergroup (SGP) 1,575.00p -1.32%CSR (CSR) 364.00p -1.09%Thomas Cook Group (TCG) 164.00p -1.03%Polar Cap Technology Trust (PCT) 369.10p -1.02%Rank Group (RNK) 150.50p -0.73%Elementis (ELM) 154.90p -0.71%TalkTalk Telecom Group (TALK) 137.30p -0.65%