Member Info for ParanoiaBlue

LONDON (ShareCast) - Drug developer Antisoma has received approval from the US Food and Drug Administration for it’s the tablet form of its leukaemia treatment fludarabine phosphate. Antisoma is now working on a commercialisation deal for the tablets, which allow patients to avoid an intravenous injection. “We anticipate a deal that allows us to realise the full value of oral fludarabine while placing the drug with a partner who can make it available as soon as possible,” said Antisoma chief executive Glyn Edwards. Fludarabine phosphate is used to treat chronic lymphocytic leukaemia, the most common form of the disease among adults in the western world according to Antisoma

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2051696&source=RNS

Yet another pre-close trading statement came from casino and bingo operator Rank Group. For the 50 week period to 14 December 2008, the group said that its like-for-like revenues declined by 7%, with total revenues down by 5%. Its Mecca Bingo business noticed that customer spending per head was up by 5%, which had helped offset a 5% slump in admissions. A similar picture was found at its Grosvenor Casinos business, which saw a much larger 12% decline in admissions. Rank’s Spanish bingo group, Top Rank Espana, suffered at the hands of high unemployment levels in Spain. Revenues at the European subsidiary were saved by the recent movements in the Euro against Sterling. Broker Shore Capital said that it had retained its ‘hold’ stance for shares in the bingo operator. Analysts commented: “We believe that our 2008F profits before tax estimate of 31.5 million pounds (earnings of 5.5p) looks underpinned by today’s update.” However, broker Teathers was more bearish, keeping its ‘reduce’ recommendation and foreseeing a more difficult 2009 for the company. Shares in Rank moved 0.5p higher to 65p.

“Wood Group’s trading statement on Wednesday was given short shrift and the shares were hammered, but it has only taken a broker upgrade to spark a strong rally. US investment house Morgan Stanley has upgraded the stock to “overweight” from “equal weight” and set a price target of 340p, despite the deterioration in the outlook for the European oil service industry in recent months. “We think the risk-reward trade-off now looks attractive given relatively resilient earnings, a favourable operating and financial risk profile, and a share price that appears to be discounting a structural fall in profit margins to a level below the all-time low achieved in 1999,” Morgan Stanley said. The US bank recommends building or maintaining positions in selected oil service companies, on the basis of healthy long-term prospects “given the challenges on the supply side of the oil industry.”

...back nicely

It’s time to cash in your chips with Rank Group, broker Teathers said as it maintained its reduce recommendation on the casino and bingo hall operator. “Trading has turned negative earlier than expected,” Teathers said. “Both bingo and casino trading has edged lower in the last nine weeks.” The comments come on the same day Rank reported trading in line with expectations but reported lower admissions at its gambling outlets. The broker sees things becoming more difficult in 2009.

'John Wood Group surged 9.2 percent after Morgan Stanley upgraded the oil services firm to "overweight" from "equal weight".'

http://thescotsman.scotsman.com/business/Wood-bullish-despite-spending-cut.4803438.jp

http://thescotsman.scotsman.com/business/Top-end-of-property-market.4803458.jp

"Wood Group is well run and solid but investors hate volatility, even in the best of markets. The global slowdown and unpredictable nature of oil prices means that backing Wood today is an uncertain science. The stock has lost more than half its value in a year and while its chief executive, Allister Langlands, points out that its trading performance is in fact far stronger, that will be no consolation to shareholders who have lost out. Cautious hold, writes the Independent"

“The Board of Antonov is pleased to announce that in addition to the customer win with Lifan Motors for its new six speed automatic transmission announced on 4 December 2008, the Company has now secured two further customer orders in China for its products. This is a significant development for the Company and demonstrates the strong demand for its technology within the Chinese market place. It also creates a solid negotiating platform for the ongoing commercial negotiations with potential partners for the planned manufacturing Joint Venture in Chong Qing, PRC. The municipal government have also offered to co-fund the initial Lifan vehicle prototype program as a demonstration of their commitment to attract Antonov to Chong Qing. Demonstrations of the Antonov test vehicle continue in Shanghai and further vehicle makers will be added to this initial customer list over the next 4 to 6 months. Further orders will be sought late in 2009 once pre-production units are available. John Moore, CEO commented, ‘This is excellent news which represents significant progress in the commercialisation of our technology within the important Chinese car manufacturing market place. With each new customer win, we strengthen our commercial position enabling the Group to secure better terms with both suppliers and customers and in turn to maximise the returns from the planned manufacturing Joint Venture.’”

....I'll drink to that!

Long, mainly: precious metals; oil; gold and other miners, pharmaceuticals; oil and gas companies. I also have various others, in my portfolio, which I got “sort of stuck with” and I’m waiting for happier days! Short, mainly: anything, at all, to do with housing, building materials, furnishings, household goods etc; pubs/hotels; general retailers; car dealers; some financials/insurance; advertising firms; engineering; recruitment; software………the list goes on and on. There is plenty money to be made here. I still see the market having a “generally downward momentum,” certainly as we get into the New Year – so this is my main focus, for now! Massive sales before Christmas – what on earth are going to do in the dark and depressing days of January and beyond!

Hi Mark I had a quick look, but I really don’t know much about the group. I see that the SP has been in free-fall, however there is a bit of broker interest. They expect “market activity to be marginally lower next year” – great euphemism! Engineering is usually a sector which lags behind when the upturn – when ever that is going to be! – begins to take effect, but they are obviously more high-tech, rather than industrial. I can’t see aerospace being a boom area, [I note “some airlines are now deferring the timing of their orders” and “regional jet market is showing signs of weakening”] Also, land vehicle markets, I would have thought, would be virtually non-existent. 2008 appears to have been a good year – profit-wise, but the outlook for 2009 doesn’t look at all healthy. As I say, I don’t really know much about them, but just on basics, I would be more negative than positive. Obviously for the fleet of foot, there could be money to be made going in and out. Also, the market seems to be reasonably happy with their statement. However my focus is in other areas. ATB. Catch you later.

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2049224&source=RNS Good, that what I have been waitng for.

"Oil services company John Wood Group expects full year profit before exceptional items to be in line with forecasts following a strong 2008, although it admits clients may spend less next year. 'Looking to 2009, the global economic recession and significant fall in the oil price are resulting in a more uncertain and challenging outlook,' it said. 'Indications are that there will be a reduction in spending by clients, with a consequential impact on service company activity.”'

The Competition Commission’s recommendation that train companies should be given longer franchises to help them overcome their rolling stock leasing expenses, is another positive bit of news. P.S I’m still sitting in a “siding” for now. ATB

Brokers believe the newly merged BTG (with Protherics) has potential. The firm wants to become a speciality group, selling drugs to hospitals rather than GPs as marketing and distribution is cheaper. All biotech businesses rely a little on luck, but BTG also has cash in the bank and a sound business model. The shares are 155p. Buy and be patient says the Mail on Sunday.

“Morgan Stanley, Punch’s joint house broker, said in a note this month that a 15 per cent fall in profits and resulting covenant breaches might trigger a restructuring that could wipe out shareholders” Other side of the story……. “Punch said analysis were allowed to have their own opinion and that all it could do was focus on carrying on running the business..” Who does one side with? I, for one, will be seriously thinking of having a quick short punt. ATB

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