Sapan Ghai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
Wonder if the market makers were shaking the tree a little to see how many stop losses they could trigger
Wonder if this is why they added £75m to the employee benefit trust the other day by adding new shares. I hope with interest rates rising there will be little stomach for a full on fight.
Think the reason for the drop is today's UBS rating (oddly, its positive 200p reiterate), but they're warning RR "could reveal some disappointing numbers in interim results later this summer and will need to be cautious on its future guidance".
https://www.proactiveinvestors.co.uk/companies/news/1019307/rolls-royce-flying-hours-to-disappoint-amid-industry-supply-woes-1019307.html
I topped up
0.6% dilution I think (49.1m shares against 8367.6m in issue). So something like £75m into the Employee Benefit Trust if I'm doing the numbers right?
I worked for a US investment bank in the city in an entry level position - a year out of uni was earning 45k in 2009. Spoke to the current team manager recently - the same position is still being paid 45k (albeit the role is a little less time intensive and the team has doubled). Still I think its an interesting example of wage stagnation.
Article on Bloomberg: https://www.bloomberg.com/news/articles/2023-06-22/rolls-royce-sets-up-in-east-africa-to-provide-engines-for-power-transport
"Rolls-Royce Holdings Plc is opening its first office in East Africa drawn by increased demand for engines to generate electricity from renewable sources and to power locomotives and ships."
"The company is in talks with Kenya Railways Corp. on powering locomotives, he said, without giving details. It will also focus on naval solutions and electricity requirements for data centers, a growing market in Kenya valued at about $100 million over the next three years, he said. "
Guardian running a similar story for those without FT access:
https://www.theguardian.com/business/2023/jun/20/rolls-royce-ready-to-rejoin-smaller-jet-engines-market-says-boss
Incora files for Chapter 11 bankruptcy: https://www.reuters.com/legal/aircraft-parts-supplier-incora-files-bankruptcy-2023-06-01/
Incrora reportedly has operations in Derby and "is a leading global aerospace and defence supply chain services firm, providing tailored supply chain management solutions to blue-chip engine and airframe manufacturers, including Rolls-Royce" (https://www.business-live.co.uk/manufacturing/new-brand-revealed-derby-supply-17965333)
Doesn't look like they're going out of business at this stage, but clearly highlights some supply chain issues persisting that could impact RR.
Interesting press release from Nvidia - RR apparently pairing up with an Israeli company to develop software to enhance jet engine design using Nvidia GPUs to do the quantum computing circuit for computational fluid dynamics. Now I dont know what any of that means, but it does sound cool.
https://nvidianews.nvidia.com/news/nvidia-rolls-royce-and-classiq-announce-quantum-computing-breakthrough-for-computational-fluid-dynamics-in-jet-engines
@Phuketpunter2 = think it was just BoAML that was predicting 90%, most of the rest was 84% so its broadly in line if a little down.
At this rate we're going to have more BP execs than BP.
PoliticsJOE interview with Darren Jones MP, Chair of the House of Commons Business, Energy and Industrial Strategy Committee. Segment from 10:18 to 11:23 min talking about RR SMR, nothing not already known, but it doesn't give you much hope that the government is going to pull out its wallet any time soon and he highlights the risk that RR will have a march stolen on it by the Americans.
https://www.youtube.com/watch?v=hSbOuUJ-t60&t=1360s
According to reports, the company is set to receive the first wide-body aircraft and launch its first international flight in early 2025. The national carrier is yet to announce its aircraft orders, but the new CEO noted that the order will be "substantial and will reflect Riyadh Air's ambitions."
There was a mooted order for 20 A350 for this airline.
https://www.khaleejtimes.com/business/aviation/new-national-saudi-airline-riyadh-airs-first-international-flight-set-for-early-2025-say-reports
@fordm = "So if you are anti-Zelensky you MUST be pro Putin? How does that logic even work?"
Its a zero-sum conflict. If you oppose one side you are pro the other. Thats how it works.
@Sully - what my opposition (I'm assuming you mean what Putin wants)
Yes, done that. Its an illegal war. It wont end until Putin is either dies/killed/deposed/decides its no longer in his interests to continue persecuting the war. Therefore the only thing we can do is encourage him to decide its no longer in his interests. The only way to do that without starting a nuclear war is to arm Ukraine.
The really interesting thing is that you think Ukraine's version of Michael MacIntyre is some sort of megalomanical genocidal dictator.
I'm interested as to why you're so keen on pumping Russian propaganda
Just curious - you're all presumably invested in RR. RR makes weapons. Weapons manufacturers make more money when there is a war on (or the risk of more war, or the risk of heightened tensions). So it would follow that war = good for RR. So regardless of your (frankly immature) views on Zelensky, you probably should be happy (in a financial sense) that there is a war.
And just for the record, this type of thing is my job, and I'm pretty convinced of the merits of continued Western support for Ukraine, and if you take a global view there aren't exactly many countries lining up in support of Russia, even if they aren't exactly pro-Ukrainian either.
Spare a thought for Kintbury Capital. Today must be painful.
My speculative take profits at 125 got taken out hahaha