Member Info for ParanoiaBlue

Let’s see what “pans out” with the GM Leviathan! They’ve had to spend a fortune installing “state-of-the art” conveniences, in order to, support the “24-hour flushing good money down the loo project!” I also worry that some of these “alternative-powered “pie-in-the-sky” motors are yet, another “white elephant,” especially within my lifetime! Interesting times!

I’m hovering, for now - although not yet - as to shorting various automotives….GKN etc. ..

There have been a few, but it could have been worse! PS Re: Scraping cars over 10 years old = a travesty, mate. I’d much rather nurture and care for, rather than cube! I think that it may turn out be, yet another - in a long line of - glubbermint “pea-brainers!” :[

...yes I've had a few, myself. ATB

..ATB, as long as it is not "Dead-end" :)

Ah, How long "at Her Majesty’s Pleasure?" Hopefully, not for financial irregularities in the field of “duff share” promotion :)

..beware the downward ramp......................

...remember the paddle!

...bit of patience needed, for a while yet. However, hopefully good potential profit here.

.......no news, but I didn't expect any!

In a gloomy interim management statement for the nine months to 30th April 2009, Wolseley said the difficult economic climate has resulted in falling sales in the majority of its markets. Quelle surprise. The building materials distributor said pre-tax profits for the period were 88% lower than the corresponding period in 2008 as sales, on a constant currency basis, fell by 15%. The company said cost cutting measures during the period would result in a charge of 336 million pounds to the accounts. Wolseley said it expects trading conditions to continue to deteriorate in the short term and to remain challenging until early 2010. Net debt at 30 April 2009 was 1.53 billion pounds in comparison to 2.87 billion pounds at the same time in 2008. Commenting on the results, broker Seymour Pierce said: “For FY2010, despite the fact that losses at stock will be curtailed, we reduce from £375m to £355m. EPS reduces from 87.3p to 77.2p. On our new EPS numbers the shares are on a PE for FY2009 of 14.9x, falling to 15.9x in FY2010. This looks generous given the uncertainty, but with the funding issues now resolved, we retain our HOLD stance with a target price of 1100p.” Shares in the firm slumped 223p to 1,005p on the news.

Broker KBC Peel Hunt raised its target price for shares in BTG following a review of full year results earlier this month. The broker believes that management is clearly implementing changes, promised at the time of the merger with Protherics. The group's overall headcount is being reduced and its products have been rationalised. It has been stated that unlike Protherics, BTG will use the critical care franchise to drive profitability rather than use it to source research and development funding. The broker added that one can clearly see the progress with Abiraterone, for a blue chip pharma, Johnson and Johnson, valuing its partner Cougar Biotech at 1 billion dollars. "With J&J's backing there is clearly more upside potential.' The broker concluded, ‘On our revised numbers we derive an 186p target price, which implies 25% upside from the current price. We upgrade our 2010E PBT forecasts from breakeven to a £7.8m profit." BTG shares slipped 0.25p to 149.75p.

...but don't jump in too soon!

Re-iteration “BUY.” Target: 186p

Aveva, the computer aided designer, announced encouraging final results for the year ended 31st March 2009. The group reported strong growth in revenues, profits and cash as its products continue to do well in the Marine, Oil and Gas and Power markets. Revenues increased by 29% to 164 million pounds with recurring revenues up by 42% to 94.2 million pounds, representing 57% of total revenue. Initial fees were 57.7 million pounds, up from 52.9 million the previous year. Profit before tax rose by 32% to 59.2 million pounds and basic earnings per share increased by 23% to 62.27p. As a result of the strong performance the company increased its final dividend by 30% to 6.5p, bringing the full year dividend t 9.36p, an increase of 41%. Despite the good results the company has aired caution over the coming months, stating that the slowdown in global shipping and oil markets is now having an impact in orders, lessening forward visibility. Commenting on the outlook, Chairman Nick Prest said: "The sustained and considerable investment made by the Group over the past few years in developing our product range and expanding our geographical presence will ensure AVEVA maintains its position as a world leader in the markets in which it operates."

Daniel Stewart re-iterates a “BUY”

...a quick short here, methinks

MGPA, the Australian fund backed by Macquarie Group, has emerged as one of the parties in early talks to buy Brixton, the struggling property company with £1.72bn of assets. Brixton announced it had "entered into discussions with a small number of parties" on Friday. Rival Segro later told the stock exchange that it was one of those parties, and that it was considering an all-share offer for the listed company, the Sunday Independent reports.

The chief executive of Land Securities, Francis Salway, has been given six months to come up with a radical business plan for the FTSE 100 property giant – or face being sacked. Alison Carnwath, the new chairwoman, has laid down the gauntlet after a set of shocking results this month, which saw the company plunge to a loss of £4.8 billion. There is thought to be growing concern among the firm’s independent directors that it has lost direction. The outcome of the review will determine the futures of Salway and Mike Hussey, the group’s second in command, reports the Sunday Times.

..let's hope so! Either way, have a good weekend!