The RNS are pretty standard stuff that Aviva has to put out under the rules. They concern its holding in other companies and would only affect its share price in extreme circumstances. Just as well it's not British Steel.
If you track AV., LGEN and PRU, they have followed much the same path but unfortunately AV. has taken a slightly steeper downward version over 3 months to 5 years. Over the last month Aviva has been the winner. It's my hunch that things are about to change for Aviva at last but I have very little to go on. I'm certainly not going to change ships in mid-channel.
The recent fall in all three, as buubbles suggests, is most likely due to the exchange rate.
Of course it is a bargain! I bought more at 4.138 yesterday. Aviva is now my biggest holding of a dozen companies. It's 'safe'.
Nevertheless it has bad headlines of late, especially the preference share debacle and who can love an unacceptably poor operating platform?
Perhaps my quotes were too long to be read here but they do suggest that the new arrival could be pay-dirt.
Lacklustre IT among other things.
"Orton has decided to leave Aviva to pursue interests outside the company after 22 years of service with Aviva, and we wish him the best for the future,’ the spokeswoman said in a statement.
His departure follows the huge difficulties Aviva faced with moving to a new platform technology in 2018, which created huge issues for advisers. Problems ranged from delayed income payments to incorrect 10% drop notifications being sent to clients.
The issues with the migration prompted an apology from Aviva UK chief executive Andy Briggs and the creation of a specialist ‘remediation team’.
Orton, who has been at Aviva since 1996 .." 16 May 2019
"Aviva's platform struggled in 2018 following a change in the technology it uses. Inflows fell by £2.3 billion as a range of problems, including late income payments and long waiting times for customer service, hit advisers. Last month New Model Adviser® revealed that Aviva has set aside £7.2 million to cover compensation costs that arose from issues surrounding the technology change. "
Evidence suggests his replacement may fix things:
Aviva has hired Mike Hogg from Standard Life Aberdeen as head of platform propositions.
"Hogg, who joined Aviva at the start of the year, held several positions at Standard Life since 2008. Most recently he was director of platform development, a role which involved marketing the Standard Life Wrap to advisers and developing its offering.
He also had a hand in the acquisition of the Elevate platform, which Standard Life bought from AXA in a deal worth £31 million. " Feb 2017
"Losses at Standard Life-owned platform Elevate have shot up with it recording a loss of £21.6 million for 2017.
This was up 122% from 2016 when the platform recorded a loss after tax of £9.7 million. The platform has been loss-making for a number of years now, both before and after it was bought by Standard Life.
Despite this the company maintains the platform will be profitable by 2019. " 26 June 2018
"Standard Life said the Elevate is now “profitable and sustainable business” in a press statement from today." 26 Feb 2019.
Was surprised when I visited Vancouver how well behaved the city's pedestrians were compared to London.
I think the pedestrian issue could eventually be overcome by education or natural selection or a bit of both;-)
It is an area that has not had a great deal of attention from what I have seen. Autonomous vehicles will need a radical rethink about infrastructure. There are wins and losses to be counted e.g. a lot of expensive street furniture would no longer be needed but track might need to be off limits to any other kind of street users. They would need to be provided for in another way. Vehicles might be so much safer that heavy protective bodywork could be reduced. Big, expensive changes.
"Smart Eye increases the loss during the first quarter, looks at financing options
Smart Eye reports increasing sales during the first quarter compared to the same period last year. The company reports an increased loss.
Sales amounted to SEK 11.7 million (9.6), an increase of 22 percent compared with the previous year.
The operating profit was SEK -22.2 million (-13.8), which is in line with the plan and reflects investments in personnel to meet the increasing amount of projects and customer inquiries won, state the company in the report.
Profit before tax was SEK -22.3 million (-14.0).
Profit after tax was SEK -22.3 million (-14.0).
Cash and cash equivalents at the end of the period amounted to SEK 65.6 million. In the report of the report, Martin Krantz writes that the company is reviewing financing options.
"In light of the increased activity in Automotive Solutions in general, and the great opportunities we see in the Chinese market and in order to maintain our market-leading position, the Board of Smart Eye has commissioned Carnegie Investment Bank to review and evaluate additional financing options to maximize the opportunities to take advantage of the very favorable market conditions that currently prevail, "he writes."
You said " The stock market is very efficient.."
That's BS. If the stock market was very efficient it would make no mistakes. It does make mistakes and is slow to react. People here made a packet because the stock market took so long to spot Ocado (I am not in that one right now). I've also made money (banked) on several other stocks thanks to the somnolent stock market.
But don't stop posting on here - it keeps folk on their toes! Likewise SEE stopping R&D would be a disastrous mistake.
We will get level 5 one day. Probably sooner than MANY decades. Meanwhile intermediate levels as autonomy steals drivers' attention are going to be absolutely dependent on first class DMS. This is just the beginning and SEE is there.
"Eckoh continues to see momentum with larger-scale opportunities
The group has an excellent sales pipeline and continues to see momentum with larger-scale opportunities at enterprise level in both divisions."