See what's trending this week...
Companies: AGL, APC, BONH, BMS, CNSL, CNE, K6YA, E3C, ENQ, EUSP, FPM, FDM, FRAN, GETB, GGP, IQE, CRPR, KYYWY, MLVN, NWF, RLW, PHD, RBD, RUA, SXX, SMS, SORT, SNX, CTO, TIG, TCN, 3BE, TLW, W7L, XPF
Sirius Minerals (SXX)
When Alphaville attacks: addressing the bear arguments | Liberum, 8 Aug
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"Yesterday FT Alphaville ran a piece amalgamating much of the bear fodder on Sirius here. We think its a worthwhile exercise to address the key points of contention highlighted in the story in order to place some of the project's risks in context..."
IQE (IQE)
Six more VCSEL projects in mass production | Edison, 7 Aug
Free Access
"IQE’s post-H118 close trading update notes the group continues to trade in line with current market expectations. Importantly, it comments on a significant increase in photonics revenues from product qualifications, underpinning management’s expectation of a photonics ramp-up in H218 and FY19. We raise our revenue estimates slightly but otherwise leave our forecasts unchanged..."
Smart Metering Systems (SMS)
Smart time to BUY | Cenkos, 10 Aug
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"The British Infrastructure Group of Parliamentarians (BIG) published a report on 20 July entitled “Not So Smart. A comprehensive investigation into the roll-out of energy smart meters” (the BIG report). Although the report is generally supportive of the UK transition to smart meters, it was widely picked up in the press and the domestic smart roll-out programme heavily criticised..."
Centralnic | Greatland Gold | Franchise Brands | Angle | Malvern International | NWF Group
AIM Journal | Northland, 8 Aug
Paid Access
"AIM shares were allowed into Individual Savings Accounts (ISAs) five years ago in early August 2013. This change has certainly helped to boost trading levels in AIM shares, although there are likely to be other factors involved in the improvement. In the first half of 2013, before the ISA rule change, there was an average of 18,910 trades each day and the average daily value was £115.4m. Higher trading levels in the second half meant that the 2013 average trades figure was 25,396 a day, while average value of daily trades was £156.5m..."
Aortech | APC Technology | Braemar Shipping | James Cropper | Deepmatter | ECSC | Escape Hunt | EU Supply | FDM | GetBusy | Location Sciences | Private & Commercial Finance | Synectics | Tricorn | Vitesse Media | Warpaint London
Markets still range bound | Stockdale, 8 Aug
Paid Access
"Last week, the MPC increased the Bank Rate by 0.25% to 0.75% only the second increase since financial crisis. The market reaction was muted. Sentiment continues to be impacted by continuing tariff and trade war concerns, combined with ongoing Brexit uncertainty. As Table 1 shows, the major indices have fallen over the last fortnight. Markets continue to be range bound, partly due to the holiday period..."
TClarke (CTO)
Positive H1 outturn; Margin up 60bps; EPS up 47% | N+1 Singer, 7 Aug
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"Interim results represent another period of strong delivery against expectations. Management has reaffirmed its 3% margin target and the Group made significant progress towards this in H1, achieving a margin of 2.6% vs. 2.0% in the prior year. Adj. EBITA increased by 37.9% to £4.0m. A strong order book underpins earnings visibility, with our FY18 revenue forecast now fully covered and FY19 50% covered..."
Proactis (PHD)
Update on trading, and Dutch deal announced | Progressive, 9 Aug
Free Access
"PROACTIS has given a (limited) update on current trading, and has announced another acquisition – a sensibly-sized SaaS business in The Netherlands. We update 2018 and 2019 forecasts, and are pleased to see the group has not been derailed from its strategy by the hopefully one-off issues affecting Q3..."
Cairn Energy | EnQuest | Faroe Petroleum | Reabold Resources | Trinity E&P | Tullow Oil
Updating oil prices: Top picks CNE, TRIN, RBD | Whitman Howard, 6 Aug
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"In this short note we update our oil price deck, and roll our discount origin forward to the end of 2018. We leave our LT oil price assumption of $70/bbl unchanged, but believe there is upside risk given a diminishing spare capacity and several years of low industry investment. Our top picks are Cairn Energy, Trinity E&P and Reabold Resources..."
Omega Diagnostics (ODX)
FY results – rebasing investment case | finnCap, 6 Aug
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"Full year results to 31 March were in line with the trading update in April, with revenues of £13.6m and an adjusted pre-tax loss of £0.7m. The closure of its loss-making German and Indian businesses, disposal of infectious diseases and corporate restructuring in June largely net off these losses in FY 2019. Strategic priorities now reside within Food Intolerance, Visitect CD4 testing and the commercialisation of Allersys allergy tests through IDS..."
Keywords Studios (KWS)
Currency headwinds, outlook maintained | Edison, 6 Aug
Free Access
"Keywords’s trading update indicated continued robust performance with y-o-y revenue and PBT growth of 72% and 66% respectively, despite the currency headwind from a weaker dollar. With the integration of acquisitions going well, a robust demand environment and a stronger dollar, the company looks set for a strong H2 and is well placed to meet our (unchanged) FY estimates..."
