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http://www.investegate.co.uk/Article.aspx?id=201202010700135448W

Intandem Films is a London-based international film company, which specialises in raising finance for commercial feature films and selling them to distributors around the world. Its highest profile film to date was 'How To Lose Friends and Alienate People' starring Simon Pegg, Jeff Bridges and Megan Fox - for which it raised the finance and sold the film to distributors such as Paramount, Warners and MGM. Despite the harsh macro economic climate, the company looks to currently be enjoying positive operating momentum and the massive size of its potential market and experience of its management team look to stand it in good stead for strong future growth. Some may be deterred by the specialised nature of the film industry but, as well as having a vastly experienced management team, the current business model is reassuringly simple and the current share price looks to fail to reflect the company’s clear, operationally-geared growth potential. We consider the shares a compelling long-term buy.

31st January 2012 Analyst: Steven Moore Email: steven.moore@gecr.co.uk Tel: 0207 562 3370 Intandem Films* - Research Update. Reiterate ‘Buy’ at 4.875p, Target Price 12p

Well done trevi - hope you managed to get out near the top! those extra minutes in bed cost you some beer money lol - however a win is a win!

Nomura has maintained its neutral rating and 580p target price for chip designer ARM Holdings, but acknowledged that the group's fourth quarter results indicated a "strong beat". "ARM reported a very solid set of numbers this morning, beating the lowered market expectations. Revenues were particularly strong in the processor segment, both in licensing and royalty revenues, driving gross and operating margins significantly above expectations despite the higher-than-expected operating expense," the broker said. However, Nomura says that for the current fiscal year, the global macroeconomic environment remains uncertain: "management is typically conservative with guidance, but this time concerns around the macro-environment and industry confidence seem higher to us."

Exane BNP Paribas upgrades William Hill from underperform to neutral, target price raised from 185p to 250p.

Arbuthnot initiates buy on Aggreko, target price 2500p.

Investec initiates buy on Bellway, target 880p

Phoenix IT will incur a series of exceptional costs as a result of its reorganisation programme and a loss-making contract. Under the reorganisation, the company is to retire its ICM brand and bring it under the single Phoenix heading while also reorganising the group’s structure. The information technology and business continuity company will now be divided into: Systems Integrators (desktop support); Communications (network services to Telecommunications and other companies with networking requirements); Hosting (hosting and Cloud services; Managed Services (Outsourced IT services to the middle market); and Business Continuity. The reorganisation costs will total £10m in the current financial year and will include 300 redundancies however the group assured that it will save around £4m per year (£2m in the year to March 2013). Meanwhile, an additional £8.1m intangible asset impairment will be realised in the current year to reflect the retirement of the ICM brand.

Peter Hickson, Chairman of Chemring, the military equipment maker, has treated himself to £94,475-worth of shares in the firm. Hickson, who joined the group in mid-2011, bought up 25,000 shares at 377.9p each. On January 24th the company reported a rise in both revenues and profits during 2011 despite cutbacks in defence spending in its biggest markets.

Collins Stewart initiates buy on Ark Therapeutics Group, target price 8p

Collins Stewart downgrades SDL from buy to hold, target price cut from 769p to 700p

Goldman Sachs downgrades European Goldfields from conviction buy to neutral, target price cut from 1100p to 800p.

FIRST QUANTUM SIGNS US$1 BILLION FINANCING FACILTY FOR ITS ZAMBIA OPERATIONS First Quantum Minerals Ltd. ("First Quantum" or the "Company" or "FQM", TSX Symbol "FM", LSE Symbol "FQM") is pleased to announce the signing of a US$1 billion senior term and revolving facilities agreement by Kansanshi Mining PLC, holder of First Quantum's 80% owned Kansanshi copper-gold project in Zambia. The five year facility featuring flexible drawing provisions will enable execution of planned capital works at the Kansanshi project. The facility includes customary conditions precedent to first drawdown which are expected to be satisfied during Q1 2012. The Mandated Lead Arrangers for the facility are: Standard Chartered Bank, The Standard Bank of South Africa, BNP Paribas, Citibank N.A., and African Export-Import Bank.

FIRST QUANTUM SIGNS US$1 BILLION FINANCING FACILTY FOR ITS ZAMBIA OPERATIONS First Quantum Minerals Ltd. ("First Quantum" or the "Company" or "FQM", TSX Symbol "FM", LSE Symbol "FQM") is pleased to announce the signing of a US$1 billion senior term and revolving facilities agreement by Kansanshi Mining PLC, holder of First Quantum's 80% owned Kansanshi copper-gold project in Zambia. The five year facility featuring flexible drawing provisions will enable execution of planned capital works at the Kansanshi project. The facility includes customary conditions precedent to first drawdown which are expected to be satisfied during Q1 2012. The Mandated Lead Arrangers for the facility are: Standard Chartered Bank, The Standard Bank of South Africa, BNP Paribas, Citibank N.A., and African Export-Import Bank.

http://www.investegate.co.uk/Article.aspx?id=201201310700114366W

an Page, Group Chief Executive commented: "This product acquisition further strengthens our specialist equine portfolio and will be earnings enhancing in the first full year of ownership."

Product Acquisition Dechra Pharmaceuticals PLC ("Dechra" or "the Group") is pleased to announce the acquisition from Bexinc Limited of the worldwide rights (excluding Canada) to HY-50® for a cash consideration of 8.03 million Canadian dollars. HY-50 is used for intra-articular ("IA") or intravenous ("IV") treatment of lameness in horses caused by joint dysfunction. It is unique in Europe as being the only single injection to deliver 50mg of Sodium Hyaluronate and having both IA and IV indications. It is currently approved and marketed by various companies in the UK, Belgium, Netherlands, Sweden, Finland, Denmark, Norway, Italy, Germany and Spain. Furthermore, registrations are being prepared for France and Switzerland. Dechra already markets the product in the UK as the marketing rights were acquired as part of the Genitrix acquisition (announced on 1 December 2010). Marketing rights for all other territories return to Dechra by July 2013. For the year ended 28 February 2011, HY-50 earned revenue of US$2.2 million and operating income of US$1.0 million. The consideration is being funded from the Group's existing cash resources.

http://www.investegate.co.uk/Article.aspx?id=201201310700204336W

Edward Bramson, Executive Chairman, commented: "We have made good progress on the strategy we set out in October, showing a modest net inflow, primarily in fixed income mandates, into our third-party institutional business and having a further £1.2 billion of won but unfunded mandates in the pipeline. While asset performance during the fourth quarter was positive, a decline in the Sterling / Euro exchange rate magnified the reduction in strategic partner assets under management. However, the yield on the strategic partner assets which were withdrawn was significantly lower than our average rate at approximately 6 basis points. The cost reduction programme we set out in our strategic review remains on schedule. We are continuing to work on initiatives to deploy the resources this programme will release into areas of growth for F&C and to the overall improvement of shareholder value."