Member Info for Mulder

Why did the company not issue an RNS today? A drop like this of near 8% is not small is it? On the back of NO NEWS. This is not an AIM stock; it's listed on the FTSE 250. The doom mongers have been here for a while now on the back of stable/flat revenues and profits and a progressive dividend policy - hardly bad is it? ' 'Disappointed by low growth'. Historic P/E here is 18; current P/E 10-11. In terms of RSI this, ITV and Centrica are 3 of the most over-sold stocks in the FTSE350 at the moment. If bad news has been leaked 2 weeks early then those in the know need to be prosecuted by the FSA along with the shorters benefiting from 'insider trading'.

An 8% drop on the back of no news and no new broker updates. The SP has never been this low since it floated a few years back. Previous low was 169p. Based on half year results EPS of 15p equating to P/E of 10.9 now. RSI of 24 now = oversold. Historically it has bounced well at such levels. Also if news has been leaked 2 weeks in advance then surely the FCA need to investigate? I suspect once again the shorters (up around 6% from 4%) are toying with this share like so many others.

It was only last month when the SP dropped to 174p on the back of no news and within a day shot up to 188p - again on the back of no news. How the FCA let such things pass is beyond a joke.

P/E 11; dividend 4.6% Relatively defensive sector Trading at an all time low Low debt RSI suggests oversold. Shorters manipulating SP Results 25/5

Labour have not got a cat in hell's chance of getting in power so what they are saying really does not matter in this election - it will be a crushing win for the Tories mainly because the opposition is so poor and divided.

Basically the contracts with Tyson are long term and analysts feel investor worries were overblown. In any case if there was any impact on GNC the company would have had to issue an RNS and update the market.

Tory MPs plot to water down Theresa May's energy price cap pledge PM refuses to confirm bills will definitely go down, as analysts say gas and electricity prices could rise despite cap Theresa May will face a battle within her own party as well as with the energy companies if she decides to go ahead with a cap on gas and electricity prices. A number of Tory MPs favouring free market policies, including some at senior ministerial level, feel the plan is far too interventionist for a Conservative government, and are aiming to water down the proposal in the next parliament. The MPs are not breaking cover with direct criticism during the election campaign, but some are openly pushing for a more “relative” cap – which would link standard tariffs to the cheapest deals by capping the differential between the highest and lowest price an energy company can charge. John Penrose, MP for Weston-super-Mare and a former minister, said the Conservatives would stop rip-off energy prices but argued a relative cap was the way forward rather than a fixed upper limit. “We need to make the energy market more competitive, so the customer is king and big business fat cats can’t take us for granted,” he said. “The only way to do this – without distorting the market – is by imposing a temporary relative price cap to protect all customers who forget to switch at the end of their contracts. “It would limit the maximum mark-up the big six could impose so competition would be red-hot and the rip-offs would stop.” It is understood some MPs are hoping that the language in the manifesto will be vague enough to keep both options open and allow for a proper consultation in the next parliament. https://www.theguardian.com/politics/2017/may/09/tory-mps-theresa-may-energy-price-cap-bills-gas-electricity

As with British Gas a cap on price rises reduces savings achieved by switching to other companies hence customer base should stabilise here also. As for Marshall Wace they have reduced their short position as of 4/5. Fund manager % short Change Date changed/created Marshall Wace LLP 0.58% ↓ -0.02% 2017-05-04 Total 0.58%

Power companies raise prices after May threatens energy bill cap Many of Britain’s biggest power companies have already withdrawn their cheapest deals in response to a government threat to cap household energy bills. At the start of October last year, the average of the cheapest tariffs from the big six was £836.21. By May 1 this year, it had risen 20 per cent to £1,001.26, uSwitch said. One big power company that has raised tariffs told the Financial Times its decision was not motivated by policy changes, but the Uswitch analysis will confirm the belief in parts of the Conservative party that threatening government action is counterproductive. One Tory MP said: “This is what happens when you mess with free markets — you get unintended consequences.” https://www.ft.com/content/49994780-3177-11e7-9555-23ef563ecf9a

From what I've read the Tyson foods purchase will not affect any agreements with Greencore/Peacock and may explain why there has been no RNS i.e. nothing has changed from their point of view. All contracts with US businesses are said to be long term. For what its worth Whitman Howard (broker) and Investors Chronicle/FT both maintained buy recommendations following the Tyson deal.

Theresa May’s plan to cap energy bills 'could break EU law' Theresa May’s plans to introduce a price cap on energy bills could fall foul of European Union law, the Government was warned last night. One senior energy executive said: ‘We are still in the European Union and EU law says you cannot be discriminatory in such matters by targeting particular companies rather than an entire sector.’ http://www.thisismoney.co.uk/money/news/article-4458802/May-s-plan-cap-energy-bills-break-EU-law.html

Does anyone have access to the full article issued by IC only yesterday afternoon where they placed a Buy rating here and thought recent events may even prove to be beneficial?!

Buy the Debenhams dream 27th April 2017 Debenhams' (DEB) new chief, Sergio Butcher, former vice-president of digital behemoth Amazon, faces an uphill struggle to turn the retailer around. However, we like the plan he set out earlier this month: close poorly performing stores where possible, invest in refurbishments, add facilities and use digital technology to make the company's bulging 176-store estate more relevant to today's shoppers. We also think the relatively limited capital expenditure he feels is needed to make the improvements, coupled with efforts to shore up gross margins, means the shares' bumper dividend yield should continue to provide support. And should signs emerge that Mr Butcher is succeeding in arresting the company's long-term decline in profitability, the single-digit forecast earnings multiple provides substantial scope for a re-rating. http://www.investorschronicle.co.uk/2017/04/27/tips-and-ideas/share-tips/tips-of-the-week/buy-the-debenhams-dream-HDBIElyB71ZTgTYhiudoQI/article.html

Greencore set to benefit from Tyson deal Shares in food producer Greencore Group (GNC) fell by nearly 8 per cent after its biggest US customer, Tyson Foods, announced it was buying Advance Pierre for $3.2bn (£2.5bn) - a business operating in Greencore's fast growing "food-to-go" niche. But we feel that the market's knee-jerk reaction to the news ignores the fact that this deal probably represents more of an opportunity than a threat for Greencore. http://www.investorschronicle.co.uk/2017/04/27/tips-and-ideas/share-tips/tips-of-the-week/greencore-set-to-benefit-from-tyson-deal-CFrTfPu9BlxBQpIYIAnM5M/article.html

Today.

Not amused by the silence from the company though. Leaving shareholders in the dark this afternoon. *************************************************************** Greencore shares slide as biggest customer buys US sandwich maker Tyson Foods became Greencore’s biggest customer at the end of last year, replacing Marks & Spencer, under the Irish group’s $747 million (€683 million) acquisition of Illinois-based frozen breakfast sandwiches maker Peacock Foods, which has annual sales of $1 billion. The deal would quadruple Greencore’s revenues in the US. “There is a concern that Tyson Foods might take some of the Peacock Foods business back in house at some stage in the future,” said a London-based analyst, who asked not to be identified. “It’s all very unclear at this stage. The best-case scenario is that Peacock might get extra contracts from Tyson following the takeover. The worst case would see Peacock lose contracts in time.” Long-term contracts Market sources said that Greencore is currently cushioned by having long-term contracts with Tyson and that there had been engagement between both parties since the Peacock deal was completed in December on broadening the relationship. In addition, Tyson co-invested in 2013 in a Peacock facility. However, shares in Greencore, led for the past nine years by chief executive Patrick Coveney, fell as much as 7.5 per cent in late trading in London, valuing the group at £1.6 billion, its lowest since late January. A spokesman for the company declined to comment. http://www.irishtimes.com/business/agribusiness-and-food/greencore-shares-slide-as-biggest-customer-buys-us-sandwich-maker-1.3061133

Only published yesterday. Transatlantic growth not to be missed Another FTSE 250 bargain in the FMCG sector is food-to-go producer Greencore (LSE: GNC). The company is the largest maker of sandwiches, sushi, salads and other ready-made foods sold at grocery stores across the UK. And with its shares trading at just 14.8 times forward earnings while offering a respectable 2.25% dividend yield and great growth prospects I believe now is a great time to take a closer look. The company may already be the largest player in the UK market but that doesn’t mean growth is slowing down. In Q1 like-for-like sales rose 9.1% as it scored new contract wins in the UK and its US convenience store business performed well with like-for-like sales rising 8%. And growth in the US is just beginning to scratch the surface of the company’s long-term potential. In November the group announced the $747m purchase of US food-to-go producer Peacock Foods. This will be a transformative acquisition that will make the US business roughly equal in size to the UK one, will immediately enhance earnings and, most importantly, give Greencore access to the massive US grocery store market it had not previously been active in. Considering Greencore’s management team has an excellent history with acquisitions and that it is growing quickly in both the UK and US, I believe investors will do very well in the long run by owning a part of this business. http://www.fool.co.uk/investing/2017/04/24/the-ftse-250-just-hit-an-all-time-high-are-the-bargains-all-gone/ ************************************************************************

It appears Tyson's purchase of a rival sandwich maker is behind the SP fall here. The timing fits. It appears Tyson Foods were one of Peacock's biggest clients. Having said that other large companies remain such as Kraft-Heinz and Kellogg's. http://www.reuters.com/article/us-advancepierre-m-a-tyson-foods-idUSKBN17R1DT

Either way the unregulated and rogue market has reared its ugly head again. News clearly leaked around 3pm to those in the know but ordinary PI's kept in the dark. FCA will be notified. Shameless.

The only thing I can find is Tyson foods have bought a rival sandwich maker in US today but I don't see why this should be seen as bad news? If no reason for the fall could be a good top up opportunity.