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meant for dewsbury.
both i reckon. your a disgrace. spinning your lies that probably cost punters a lot of money. what comes around goes around.
are you dewsbury in disguise ! not been on this sight for a long time. dewsbury where art thou ! sorry to see you lot lose your dough . i lost enough myself on this piece of junk. akers is a fraud . rip
Actual Experience/ revisiting the BUY post Vodafone comments PT450p Whitman Howard Recommendation Rating Buy Price Target 450p Upside/Downside +53% Actual Experience We are revisiting the ACT story post our recent roadshow on software bots, and post hosting a number of investor meetings with institutions for Dave Page CEO. The product we believe delivers improved customer service/ experience and it also significantly lowers operating costs, so fits very clearly in our focus of software automation that delivers significant productivity enhancements and improved levels of service. The Vodafone interims highlighted that they will be using real time analytics to enable smarter network planning, this sounds like they are ready to deploy ACT digital users across their business in our view. We understand that the company has now completed the technology upgrade to allow larger scale deployments at the end clients. Verizon as we know is the highest profile client. Verizon is quoted as saying their 2-2500 strong sales force is now trained in the product. We understand that ACT is now bundled into VZN product offer. The opportunity at Thomson Reuters is also vast as this is across the whole of their platform, and they have hundreds of thousands of users. Accenture we understand is now moving faster to deploy the product, as they understand the commercial impact from both an improved customer service perspective, and as a productivity enhancing tool. They are close to signing at least 2 more large Managed Service Providers. They want to have the 4 lead customers producing meaningful revenues before they sign these up. The shares while optically expensive on historic numbers, are only discounting c�25m of sales given our view that the normalised EBIT margin for ACT will be in the 40-50% range driving a 5-6X fair value EV/Sales multiple at maturity. It is our view that Verizon alone will exceed this. So there is upside to our base case revenue per customer, ie �10m and there is significant upside to the potential number of customers. We retain our BUY and PT of 450p and see significant upside to this once we get revenue lift off, which is clearly an issue of when not if, now.
Telegraph Business Ultra Electronics chief in shock departure amid 'increasingly difficult' UK market 0 Ultra Electronics, a specialist in naval warfare equipment, issued a profit warning Alan Tovey 10 NOVEMBER 2017 � 9:21PM Defence company Ultra Electronics� chief executive has been dramatically ousted in a surprise after-hours move, it has been revealed. The FTSE 250 company said Rakesh Sharma, who has led the company since 2010, was leaving with immediate effect on Friday night. His departure comes after �a period of reflection by the non-executive directors on the future leadership of Ultra�, the company said. Mr Sharma, a 28-year veteran with the company, will be replaced by chairman Douglas Caster, who led the company from 2005 to 2010, until a new chief executive can be found. ADVERTISING His departure comes after Ultra, which is a specialist in naval warfare equipment such as submarine detecting sonar buoys, issued a profit warning. The company said it now expects underlying operating profit of �120m compared with market forecasts of �132m and that organic revenue would decline by about 4pc. Warning about the trading conditions, Ultra � which derives most of its revenue in the US � said that �while the majority of markets have been satisfactory, the UK market has been difficult and has become increasingly so in the second half". �There are mounting pressures in the funding of UK defence programmes and this has resulted in the UK MoD pausing, cancelling or delaying numerous programmes. Within the last few weeks a number of our UK orders budgeted for 2017 have been affected.� The company also said it expected its $234m (�178m) acquisition of a US rival to be delayed. It is understood that this is due to US Department of Justice officials being swamped with work and is unrelated to Mr Sharma�s leadership. The news saw Ultra�s shares fall more than 11pc to �15.27 today. Mr Caster said: �Throughout his service to Ultra, Rakesh has contributed significantly to the group�s development into an international provider of specialist capabilities with positions on a broad number of platforms and programmes. On behalf of the board, I wish Rakesh well.� The executive chairman added: �While market conditions have been more challenging in the last few years, the group has strong market positions, differentiated technologies and talented people. While the UK defence market is difficult, defence spending in the US is increasing. We are focused on identifying the right leader to deliver shareholder value through a renewed focus on organic performance in the next stage of the group�s development.� Mr Sharma said: �It has been a privilege to be chief executive of Ultra and I wish the Group and all its staff well for the future.�
It's from that good old blue chip firm .......Cenkos. Just forwarding it on. make of it what you will
A long day with the Providence Resources (PVR LN) CEO Tony O'Reilly yesterday seeing investors (some old, some new) but always good to get a catchup with the "next Irish Supermajor".... It's definitely been a chastening experience with the disapppointmentof the Druid/Drombeg well result earlier in the summer. But there are positives to come out: 1. They did find oil, albeit Bitumen (biodegraded oil), which will probably go for further analysis and add to the ever increasing data set that PVR have on the SoutWest Ireland plays. This is valuable data to both PVR and any one of the other major players now in the area. But it had to degrade from something, thus had to be made somewhere...... 2. Operationally the drilling was exemplary - with industry participants indicating that PVR really exceeded expectations on their ability to drill such a complex well. Cost overruns were not due to PVR (permitting delays, weather window closing, and a request from well partners to do further analysis with wireline logging), it has made the industry re-asses their view of PVR (more below). 3. On newsflow - There is a lot of further activity over the next 12-18m from other fields that will continue to add to PVRs knowledge base- Particularly in the Diablo prospect... which before was thought to be at the limit of drilling capabilities due to depth and pressure. It now appears to be eminently feasible post Druid/Drombeg, as the pressures are far more benign. Just up-dip is the IOLAR prospect (NEXEN Energy), due to be drilled in 2018, which will again add valuable data to PVR. On Barryroe - the company have now publically stated that it is their intention to go full steam ahead with a further appraisal well as well as exploring farm in partners. The company has proven to industry that it has the capability to execute deep water with Druid/Drombeg, so with Barryroe sitting at 80m depth and in "Jack up rig" territory, plus having drilled wells there before, this is eminently sensible/achievable. The company are not expecting to drop bit for another 18m (1H 19) and so they currently sit on a healthy cash balance for a team of 14 staff. There could be further upside to the cash balance if TOTAL decide to exercise their option on Druid/Drombeg as it will mitigate some of the costs that our recent report PVR HALF YEAR NOTE details. They have just farmed into Avalon, next to Dunquin, so still have interest in the area. I always ascribe c$2-$4/bbl for 2c resources (Barryroe)... at c380m bbl - that means Barryroe could be worth a multi bagger on farm in... and with the shares trading not much above cash you have a very skewed Risk-return at present.. With no need for a cash call anytime soon, the company has the ability to prove itself over the next 18, restore some investor confidence and get the share price up from the 6.9p level they are now. Our last note has a TP of 24p with some serious risk adjusting in it...
interesting volumes today. lots of retail & winterfloods look to have crossed up 5 million shares. will see where that has come from & to whom soon i would suppose.
A $20bn New York hedge fund is using an offshore shell company to anonymously bet against the shares of the UK supermarket Tesco, raising fresh questions over the efficacy of European short selling disclosure rules. Tiger Global, one of the world’s largest hedge funds, has made use of a Cayman Islands-registered vehicle called Delores Holdings Ltd to make a short bet against close to £100m of Tesco shares, according to people familiar with the situation. The use of a shell company that sidesteps Europe’s rules that force hedge funds to disclose their identity when selling short more than 0.5 per cent of a company’s share capital is within the letter of a regulation that was introduced during the financial crisis. The trading follows Tiger Global having used a set of Cayman-registered shell companies to sell short European companies between 2012 and 2014. The names of the Cayman-incorporated shell companies included European-style corporate suffixes, such as NV, GmbH and Ltd. Tiger Global, which manages $20bn in assets, half in venture capital and half in public securities, declined to comment. Tesco declined to comment on the Delores Holdings Ltd short position in its shares. Tiger Global, which also used the Delores vehicle to bet against the Spain-listed DIA supermarket, has for several years employed a highly successful strategy of taking large stakes in disruptive ecommerce companies, notably Amazon, and selling short the companies they are disrupting. The Financial Times could find no other evidence in regulatory filings of other hedge funds making use of a similar structure to make short bets in Europe. The European Securities and Markets Authority, the regulator responsible for the regulation, said there was “no specific provision in the short selling regulation regarding special purpose offshore structures used to enter into a short sale”, and that underlying holders of positions were under “no obligation” to inform national European regulators of their identity. EU lawmakers have called for the closure of the “loophole” in declaring short positions through shell companies. Both the UK’s Financial Conduct Authority and Spain’s CNMV declined to comment on whether they were aware of who ultimately was in control of the Delores shell company that had reported the short positions to them. Cyrus Pocha, a senior associate at Freshfields, said: “If hedge funds are allowed to take these short positions, why would they be trying to hide their identities? Are they worried that others will use knowledge of their positions for their own benefit? “There is a general concern about others getting insight into their trading strategies when short selling in Europe,” he added. Tesco shares have fallen 17 per cent since Tiger Global’s Delores vehicle disclosed its bet against the company in early January, meaning the hedge fu
How are you getting along with the fca Mulder ? these criminal short sellers need to be locked up.
m&g and capital are the biggest new names on the shareholder list.
western areas out. very solid shareholder base now. although think they should have done it at 13p or even 14
Sorry can't help myself. after reading your comparison to people in car accidents. seriously Mulder are you for real. I've NEVER heard such clap trap in all my time working in the markets, absolutely hilarious. keep it coming i love it.
no point in taking this conversation any further. i am long . i agree they look oversold . just disagree on your views on the mechanics of the market. be lucky. buy low sell high !
mulder. wake up & smell the coffee. it's not illegal to short sell a stock. you shouldn't trade the stock market if you don't understand the basics . up today …pleased to see the stock up….but please…get a grip
Rating downgrade; pricing challenges in Merchandise We are downgrading FY18 estimates by 15% and lowering our rating to Hold while we await progress on current year pricing and marketing initiatives. There is undoubted value in the Services business and the group remains cash generative (FY18 net cash generation £16m, FCF yield c.7%, c.4.5% dividend yield) despite the estimate cuts. The key challenge for the group is to remain competitive in Pet Food distribution and defend margins whilst confronting evolving distribution models. Profit downgrades: FY18 estimates are reduced to £81.5m (13.0p EPS) from £96.7m as we incorporate management's new gross margin guidance into our forecast updates. We assume a FY18 group gross margin decline of 167bps, with Merchandise price investment compounding the adverse mix effect of Services growth. Pricing question: Reporting alongside Halfords threw the two group's relative pricing power positions into sharp relief. Halfords' Q4 (+Easter) Cycling LFL sales grew 11.1% as the group was able to pass through ($-related) pricing increases against weak competitors, seemingly without an adverse volume impact. In contrast, Pets At Home is reducing food prices to stabilise volumes. Pricing investments in own brand pet food allowed the group to reverse Q3 Merchandise sales declines of -0.5% in Q4 (+0.5% LFL). Management indicated in the results presentation that Advanced Nutrition Switch & Save product volumes have risen c.50% since the price campaign, which saw prices cut by c.15% on larger bags of dog food (c.25% for on Multi-Buy). Management indicated that c.30% of sales are form customers switching from other brands. Better relative value of Advanced Nutrition vs standard pet food is also encouraging trading up. In FY18 the group is also expected to lower prices in third party branded products. Industry structure: Results presentation slides highlight recent historic pet market growth of c.4.5% and over-indexing in vets services, insurance, grooming and advanced nutrition. Standard pet food delivered zero growth. The standard pet food market (at £1.7bn) is 5x the size of the advanced nutrition market. Online participation rose from 9% to 11%. Pets At Home is gaining share in advanced nutrition, accessories and First Opinion Vets ("corporatising" rapidly). The current challenge is less one of revenue, but more of profitability. Cash flow: Despite lower estimates, the group remains lowly-leveraged (1.2x historic EBITDA) and is expected to generate net cash of c.£15m in FY18 whilst maintaining the 7.5p dividend (1.7x EPS cover). Bolt-on acquisitions become less likely in our view, however. Valuation: With less certainty over medium term margins, we are shifting our valuation methodology away from longer term discounted cash flow towards our sum-of-the-parts/sector P/E relative approach. Our target price falls to 172p from 240p. The shares may be of interest to more cash flow f
for what its worth. the reason the bears tried to have a go at it in early trading was because according to credit suisse & g sachs the margin guidance for 2018 was disappointing ! numis upgrading the stock helped but even they cut their numbers by 13%. buy at this price for a bounce towards £2…..
Mulder, good luck with your quest to prove wrongdoing. IMHO I think you will get nowhere. shorting stocks is not illegal. its a fact that stocks large and small can swing wildly between oversold & overbought. being the wrong side of a trade is tough but sour grapes will sadly not get you anywhere. good luck with your investments
the short base is 38.4 million shares. regardless . i don't have a problem with that. fundamentals will win in the end. if someone doesn't like a stock …let them short it. its what makes a market ! just annoying when you are on the wrong side of it. bring on the squeeze …please
I agree, reckon a warning of significance would have been pre announced. expectations v low, therefore in line numbers will be enough for a squeeze higher…b.t.e and watch them fly…worth a punt surely….fingers x'd