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http://www.investegate.co.uk/Article.aspx?id=201210230700042624P

http://www.investegate.co.uk/Article.aspx?id=201210230700032484P

Xaar Sell 19-Oct-12 £509,999.99 Ian Dinwoodie 200,000 @ 255.00p

wheelie - in anyones books that is an extremely good investment you made.

Valuation: Capable of more At the underlying operating level, our estimates show little progress at this stage of the cycle and the rating (FY12 P/E ratio 17.5x falling to 14.3x, on Lupus’s earnings definition) perhaps factors in a stronger near-term recovery expectation than we currently do. We believe that the mid-cycle earnings potential for the existing businesses has been raised and each of the regions is capable of exceeding previous highs under Lupus’s ownership. Progress in North America is likely to be the chief catalyst for faster earnings growth and a further re-rating, and this region is looking more promising currentl

http://www.edisoninvestmentresearch.co.uk/researchreports/LupusCapitalOutlook231012.pdf

Great results - very encouraging

Outlook ARM enters the final quarter of 2012 with record order backlog and a robust opportunity pipeline. This combination points to another strong quarter for licensing revenue in Q4. ARM's Q4 royalty revenue is generated from third quarter chip shipments. Data from our customers suggests a moderate sequential increase in ARM's royalty revenue in Q4. We therefore expect group dollar revenues for the fourth quarter to be in-line with current market expectations.

Warren East, Chief Executive Officer, said: "ARM has delivered another quarter of strong revenue and earnings growth. As we move into an ever more connected world of mobile computing, cloud-based networks and the Internet-of-Things, ARM is seeing increased demand for its high performance and low power technology. This demand is helping to drive ARM's licensing revenues and this quarter we saw market leaders license ARM's advanced processor technology for next generation super smartphones, tablets, and mobile and embedded computing applications. ARM's royalty revenues outpaced the industry with continued market share gains in key end markets including digital TVs and microcontrollers. The increasing penetration of Cortex-A class technology and adoption of Mali graphics in consumer electronics also helped increase ARM's overall royalty revenue per chip. This strong growth in licensing and royalty revenue allows ARM to keep investing for the future and deliver increased profits and cash generation."

Progress on key growth drivers in Q3 · Growth in adoption of ARM® processor technology o 29 processor licenses signed for a broad range of applications, including deeply embedded products such as chips for hearing aids and automotive braking systems, and consumer electronics such as smartphones, TVs and tablets o Momentum in high-end computing and networking applications continued, with the signing of one ARMv8 architecture license, one ARMv8 processor license and one Cortex-A15 processor license · Growth in shipments of chips based on ARM processor technology o 2.2 billion chips shipped, split equally between mobile and non-mobile segments o Processor royalty revenue grew 27% year-on-year, driven by strong growth in Cortex-A and Mali-based chips · Growth in outsourcing of new technology o 5 Mali™ graphics processor licenses signed, including three with new customers for Mali technology o 4 physical IP Processor Optimisation Packs licensed, enhancing ARM's royalty opportunity per chip

http://www.investegate.co.uk/Article.aspx?id=201210230700062654P

Shore Capital reiterated its "buy" recommendation for Jardine Lloyd Thompson (JLT), encouraged by continued organic revenue growth in the insurance broker's third quarter. Shore also pointed to the group's growing presence in the emerging markets of Asia and Latin America and noted that these positive factors have been largely ignored by investors, due to the firm suffering from weaker than expected performances at its Re and Thistle divisions. The broker believes that the recent price weakness represents a good buying opportunity

Seymour Pierce upgraded its stance on JD Sports Fashion (JD.) from "hold" to "buy" with an increased target price of 1,000p, from 800p. The broker noted that the retailer is planning on launching a new store brand, JD Pro, focused on the specialist sports market. Seymour Pierce believes that this will allow the company to challenge rival Sports Direct's (SPD) dominance in the sector. The new store is expected to open in November and will cover 8,000 square feet. On the broker's forecasts, the shares trade on a prospective earnings multiple of 8.7 times for the 2013 financial year.

Oil giant Shell has announced one of its biggest Scottish North Sea energy projects in the past decade which will pump 5% of Britain’s gas needs at peak production.The British/Dutch company said yesterday it would develop the Fram oil and gas field about 135 miles east of Aberdeen following the green light from the Department of Energy and Climate Change. Energy minister John Hayes said: “The durability of oil production in the North Sea constantly confounds expectation. “It is a tribute to the high-tech advances and expertise of British industry, which has constantly pushed the boundaries of what can be produced. Fram itself will add around 2% to our [total] oil and gas production – securing jobs, creating revenue and adding to our security of supply.” Shell, which shares the field with US-based Exxon Mobil, said Fram will come on stream in three years and produce 35,000 barrels of oil and gas equivalent a day (boepd) at its peak, The Scotsman says.

Pressure on senior BAE Systems board members hardened last night after it emerged that shareholders representing almost a fifth of the company had called for high-profile scalps. In a letter to the board, Invesco Perpetual, the biggest shareholder with 13 per cent and the principal critic of the failed 28bn pound merger with EADS, demanded the resignation of Dick Olver, the chairman, and Sir Peter Mason, the company’s senior director. Other shareholders representing a further 5 per cent of the company backed the proposal. It has been known for some time that Neil Woodford, the Invesco fund manager, has been hostile to BAE’s board, but this is understood to be the most aggressive move so far and sources close to the leading shareholders said that everything depended on where the assault went, writes The Times.

Outlook The planned new product launches, supported by the capacity expansion that has come on stream, leave us well placed to meet our expectations for the remainder of the year. We remain confident that we have the right product offering in place to deliver on our medium to long-term targets. David Lockwood will host a Business Review for Investors and Analysts on Wednesday 12 December.

Performance Materials Division In the Performance Materials division, which supplies electromagnetic interference and thermal solutions, revenue in the quarter was £84 million (2011: £77 million). Expressed in US dollars, revenue was $132 million (2011: $124 million). Compared to the third quarter of 2011 revenue for the division on an organic* basis was 1% higher. We have continued to benefit from our position in new smartphone models, particularly towards the end of the third quarter. Demand for tablets and notebooks was slower ahead of the introduction of new products to be launched. As previously highlighted, our revenue from the telecommunications market remains in-line with the subdued infrastructure spend. Wireless Systems Division In our Wireless Systems division, which provides antennae and connectivity solutions, revenue in the quarter was £49 million (2011: £44 million). Expressed in US dollars, revenue was $78 million (2011: $71 million). Revenue was 4% higher on an organic* basis compared to the third quarter of 2011. The demand from the automotive market in North America has remained robust. We have also experienced a good level of ongoing demand from the public safety market driven by wireless connectivity requirements. Customers in the industrial and transportation markets continue to defer procurements of larger systems.

Interim Management Statement Laird PLC today announces its Interim Management Statement(1) for the period from 1 July 2012 to 23 October 2012. Laird is a global technology company focused on providing components and solutions that protect electronic devices from electromagnetic interference and heat, and that enable connectivity through wireless applications and antennae systems. Revenue in the third quarter was £133 million (2011: £121 million), up 10% on the prior year. Revenue expressed in US Dollars was $210 million (2011: $195 million). On an organic* basis, revenue was 2% higher year-on-year in the third quarter of 2012, with the month of September showing double digit growth year-on-year. Revenue in the third quarter of 2012 increased 4% on the second quarter of 2012. Year-to-date revenue at the end of the third quarter was up 3% compared to the prior year, but 2% lower on an organic* basis. For the same period operating margins have improved over the prior year as a result of vertical integration efficiencies and the rationalisation of certain product lines to exit lower margin business. Our financial position remains healthy with net debt in-line with previous expectations for the full year.

http://www.investegate.co.uk/Article.aspx?id=201210230700072839P

Lyn Duncan, co-founder of @UK, commented: "This has been an eye-opening trip for @UK. It has allowed us to come face-to-face with dozens of prospects across the Asia-Pacific region, and sense their excitement about the @Australia marketplace. We've created numerous new opportunities."