Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on OTELCO INC-A. We currently have 0 research reports from 0 professional analysts.
Research Tree provides access to ongoing research coverage, media content and regulatory news on OTELCO INC-A. We currently have 0 research reports from 0 professional analysts.
Filtronic plc (FTC.L, 12p/£23.9m) Update: FY in line and growth in pipeline | Concurrent Technologies plc (CNC.L, 83.0p/£60.2m) Meeting with management and product launch
Companies: Filtronic Concurrent Technologies
The People’s Operator* (TPOP): Prelims (CORP) | Frontier Developments* (FDEV): FY trading update and release of forecasts (CORP) | Firestone Diamonds (FDI): Operations and financial update (BUY)
Companies: TPOP FDEV FDI
Filtronic, the designer and manufacturer of microwave electronics for the wireless telco market, announced last month (12th May) that trading was ahead of expectations and we raised our FY17 PBT forecasts by 36.5%. This morning Filtronic has issued a follow-up trading update, providing additional detail. The last 12 months were undoubtedly a watershed period for the business, with revenues jumping from £13.6m in FY16 to £35.4m in FY17 (driven by Filtronic Wireless). In terms of new news, cash flows were stronger than expected and the business ended with net cash of £2.6m (PG forecast £1.2m vs net debt of £0.3m May-16).
I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 26 May admission. Opera Investments –Reverse Takeover of Kibo Mining’s subsidiary Kibo Gold. Raising £1.5m. Expected mkt Cap £6.5m. 23 May. Eve Sleep— Schedule 1 from the e-commerce focused, direct to consumer European sleep brand. Offer details TBC. Expected Mid May Velocity Composites—Schedule 1. Manufactures advanced carbon fibre and ancillary material kits (predominantly carbon fibre) for use in the production of aircraft. Mid May admission expected. Offer details TBC. Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission in May. AEW UK Long Lease REIT—Intention to Float. Up to £150m raise. Admission early June. UK specialist and alternative property Alfa Financial Software –Intention to float. Mission-critical software platform purpose-built for asset finance enterprises. Vendor sale of 25% plus. FYDec16 rev £73.3m (CAGR of 24% from 2012). Adjusted EBIT £32.8m. Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe ADES International— Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa, seeking raise up to $170m plus vendor sale under a Standard Listing of the Main Market. Admission due May 2017. Global Ports Holding—Intention to float on Standard List of the Main Market. International cruise ports operator. Seeking $200m+ raise including $75m primary offer. Expected price range 735p to 875p. Mkt cap up to £539m. Tufton Oceanic Assets– Extended to 9 May on specialist funds segment of Main Market to enable further due diligence. PRS REIT—Private rental sector REIT raising up to £250m. Admission due 31 May
Companies: ASY NCCL RAD RENE CWR SAL WRES SCLP HAYD
"US equities yesterday enthusiastically reversed the declining trend of the past week, taking the S&P-500 and Dow Jones to new record highs, while the recently punished Nasdaq chalked up the largest rise as bargain hunters searched for oversold situations. Apple, for example, made a good recovery after having declined for the previous six sessions. Closing at their best levels of the day, buying confidence was clawed largely from a display of strength amongst overseas markets whose foundations had been established during early morning trade in Asia. A prediction from New York's Federal Reserve President, William Dudley, that the current inflationary pause will eventually give way to higher wages within a tightening labour market, pushing it back closer to the Central Bank's 2% target, also helped boost confidence. Steel stocks were a feature, climbing further off the seven-month low it set last Thursday, at one stage driving the NYSE Arca Steel Index up as much as 2.1%. This particular rally followed Commerce Secretary Wilbur Ross telling Bloomberg that President Trump intends to take "bold action" to address the national security risks posed by steel imports. Semiconductor, biotechnology, and banking stocks also found good buying interest, moving higher along with most of the other major sectors. Inevitably enough, Treasuries pulled back into negative territory, countering initial strength and lifting the yield on benchmark ten-year notes up by 2.7 basis points at 2.178%. The Nikkei Stock Average jumped almost 1% this morning to a fresh 22-month high as the yen fell, though other Asia-Pacific markets were quietly mixed. Following broad gains Monday, for example, South Korea's Kospi and Hong Kong's Hang Seng eased fractionally, while Australian traders took profits on recent S&P/ASX 200 gains, while the Shanghai composite was all but unchanged. Oil prices were slightly higher in Asia after hitting fresh seven-month lows in New York, with investors doubting how effective the production cuts being led by by Saudi Arabia and Russia can actually be. European markets also put in a good performance on Monday, led by led by industrials, oil & gas and basic materials stocks. The STOXX Europe 600 rose 0.89%, scoring its biggest one-day percentage gain since April 24 after French President Emmanuel Macron's upstart party scored a strong majority during Sunday's parliamentary elections, even if they were marked by a record low voter turnout. Presently riding on a high, he is expected to table his least popular, business friendly reforms within his first 100 days, in order to gain international respect which, by this time next year, should have translated into stronger economic growth. This sentiment reflected in strong performances by both the CAC-40 and Xetra Dax, which led equity gains around the Bloc. UK shares fully participated yesterday, despite a nervous trading environment created by the start of Brexit negotiations. Traders were not deterred by the latest terror-related incident in North London, but warmed to increased anticipation that a softer, more business-friendly Brexit will be the eventual outcome. As a result, the FTSE-100 enjoyed its best session since 9th June, finding demand in the same sectors that lead the European indices, while retailers also staged a good recovery after having been excessively sold on Friday in response to Amazon's proposed acquisition of Whole Foods market Inc. Although the UK is not scheduled to release any major macro statistics today, both the Governor of the Bank of England, George Carney, and the Chancellor of the Exchequer, Phillip Hammond, are scheduled to make speeches at a Mansion House breakfast event commencing at 08:30hrs BST, after the latter had been forced to delay setting out his view on the UK economy at last week's annual dinner in response to the tragic tower block fire in Kensington. Traders in particular will be keen to hear anything more regarding the opportunity for the UK and US to establish a free-trade agreement following Liam Fox's the joint appearance with Wilber Ross yesterday at a US government-run investment conference just outside Washington, although such a bilateral agreement clearly cannot be concluded until the UK is no longer part of the European Union. The EU is due to publish its April Current Account data, while the US offers the same statistic for Q1'2017, Weekly Redbook and API Crude Oil Stocks; speeches are also scheduled from the Fed's Stanley Fisher and FOMC's Robert Kaplan. The UK reporting season is now slowing, so there are fewer scheduled earnings or trading updates to anticipate; just Wolseley (WOS.L), N. Brown Group (BWNG.L), RWS Holdings (RWS.L) and Accsys Technologies (AXS.L) are due this morning. Overall, however, European equities appear set to open in an upbeat mood once again this morning, although gains will be limited after yesterday's strong movement. The FTSE-100 is seen moving between flat and 10 points up in early trading."
Companies: MAFL OTC SOLO XTR CYAN
BlackRock Smaller Companies Trust is considering ending the restriction on AIM investment in its portfolio. Currently, the trust is not allowed to invest more than 40% of its portfolio value in AIM-quoted companies. If the required consents and regulatory approvals are received, a resolution may be put forward at the annual general meeting in June. Vets practices owner CVS is currently the largest investment in the trust’s portfolio and wound management firm Advanced Medical Solutions is also in the top ten. The rest of the top ten are fully listed companies. The best performer in February was telematics equipment and services provider Quartix. BlackRock is considering this change at a time when the Small and Mid-Cap Investors Survey 2017 suggests that there is a positive change in attitude towards AIM. Overall, investors believe that AIM is better than it has ever been. The average size of companies continues to rise and this is taken as an indication of maturity but there is still concern about the lower end of the market. There is little pressure on AIM companies to move to the Main Market even if they are relatively large for AIM. There are currently eight companies on AIM valued at more than £1bn, accounting for around one-sixth of the total market value of AIM.
Companies: MANX INS FRAN ACSO NAH GMAA TCM
Enterprise-focused niche applications of tech illustrate how, while trends appear to be fluctuating away from the current poster children of fintech and the Internet of Things, in fact these developments are refining appropriate application of existing technologies.
Companies: 7DIG AMO ARTA BVC BOTB CTP CFHL ISL DTC DOTD ELCO ESV FDSA FDEV GBG IDEA IDOX IMTK IGP IOM KBT KCOM KWS LRM MAI MMX NASA NET ONEV PHD QTX QXT RCN 932 SSY SEE SIM SPE TAX TEP TPOP TRAK UNG VIP ZOO
Trakm8* (TRAK): Iceland renews and upgrade service with video (CORP) | BATM* (BVC): Extension for mobile agri-waste order (CORP)
Companies: Trakm8 Batm Advanced Communications
QUIZ— omni-channel fast fashion womenswear Company intention to float. Due July 2017. Offer TBA | Ethernity Networks—Schedule 1 from Israeli based specialist in data processing technology used in high end carrier ethernet applications across the telecom, mobile, security and data centre markets . Expected late June. Offer TBA. | Jangada Mines—Schedule 1 advanced stage PGM exploration project containing what the Directors understand to be the largest PGM resource, as well as being the only pre-development PGM project, in South America. Offer TBA. Expected late June. | Phoenix Global Mining— US Brown field copper play. Expected late June. Offer TBA Touchstone Exploration— Oil exploration and production company active in the Republic of Trinidad and Tobago. Interests of approximately 90,000 gross acres. Production c. 1,300 boepd. Raising £1.45m. Expected mkt cap £7.5m. Due 26 June. | I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 7 June admission | Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission in late June | Tiso Blackstar Group—Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Expected late June | Residential Secure Income - social housing REIT raising up to £300m Admission due c.12 July. ScotGems—Admission due 26 June. Seeking £50-£100m. To investing in a diversified portfolio of Small Cap Companies listed on global stock markets | DP Eurasia—Intention to float from the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia . £20m primary raise plus a partial vendor sale | Film Finances—Sky News reports that ‘movie financing company with credits including the Hollywood hits La La Land and Nocturnal Animals is plotting a blockbuster premiere on the London stock market that will value it at several hundred million pounds.’ Expected ‘during the summer’. | AIB—Intention to float from AIB, Ireland's leading retail and commercial bank . The Minister for Finance intends to sell approximately 25% of the Ordinary Shares of AIB. Valuation range €10.6-€13.3bn. Admission end June | Curzon Energy—Report on Proactive Investors of intended LSE float this year with acquisition of coal bed methane assets in Oregon. Looking to raise £3m plus | NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June | Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe
Companies: FAL BHRD EEP EUSP NIPT GWMO RLH AVN BOS TCM
Steve “Woz” Wozniak, infamous co-founder of Apple, was the latest culprit to send shivers across the tech world by claiming Cybersecurity is the greatest threat the world has faced since the atom bomb. Mr Wozniak was alluding to the heightened sense of fear that recent high profile breaches have caused Cybersecurity to be put at the forefront of political, corporate and now it would appear, investor agendas. As the topic gains increasing awareness, it gives rise to a number of companies claiming to be a “thought leader” in the Cybersecurity space, holding the best IP and the best routes to market. With many companies singing from the same loss making hymn sheet it is making it ever difficult to spot the true “Spartacus” from the crowd.
Companies: BA/ BVC BLTG CHRT CLST CNS DFX ECK EXPN GBG IGP MPAY NCC OSI SCH TERN
Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 26 May admission. | Opera Investments –Reverse Takeover of Kibo Mining’s subsidiary Kibo Gold. Raising £1.5m. Expected mkt Cap £6.5m. 23 May. |Eve Sleep— Schedule 1 from the e-commerce focused, direct to consumer European sleep brand. Raising £35m at £1.01. Expected mkt cap £140m. Expected 18 May 2017 | Velocity Composites—Schedule 1. Manufactures advanced carbon fibre and ancillary material kits (predominantly carbon fibre) for use in the production of aircraft. 18 May 2017 admission expected. Raising £14.4m at 85p. Expected mkt cap £30.4m | Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission in late May. | AEW UK Long Lease REIT—Intention to Float. Up to £150m raise. Admission early June. UK specialist and alternative property | Alfa Financial Software –Intention to float. Mission-critical software platform purpose-built for asset finance enterprises. Vendor sale of 25% plus. FYDec16 rev £73.3m (CAGR of 24% from 2012). Adjusted EBIT £32.8m. | Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe | Spinnaker Opportunities—Seeking RTO. Targeting a single, material acquisition in the energy or industrial sector. Due 17 May. | ADES International— Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa, seeking raise up to $170m plus vendor sale under a Standard Listing of the Main Market. Admission due May 2017. | Tufton Oceanic Assets– Extended to 9 May on specialist funds segment of Main Market to enable further due diligence. | PRS REIT—Private rental sector REIT raising up to £250m. Admission due 31 May
Companies: ONEV ZEG SLN CYAN PKG POS KBT VLTY RTHM OCL
First Derivatives (FDP LN) Major new contract win | IndigoVision Group (IND LN) Strong H2 performance | Nichols (NICL LN) Strength & tenor of FY16 results supportive of premium rating | Sanderson Group (SND LN) AGM statement signals solid start to the year | Spirent Communications (SPT LN) Narrowing focus around key themes
Companies: GNS SPT NICL IND ANCR CVSG DPH FDP BMK SND EAH ANP PETS
Despite the University of Michigan releasing its preliminary reading of March consumer sentiment on Friday, which suggested US personal finance confidence rising again, this time to a 17-year high as the Nation effectively achieves full employment, US equities remained narrowly rangebound. Industrial production data also released held steady in February which, although slightly below market consensus, still provided underlying confidence in continued growth amid a pickup in manufacturing and mining activity. But this was not enough given receipt of a slightly less hawkish tenor from the Fed. The problem appears to be that investors have heard Trump ‘talk-the-talk’ but, as was seen with the latest judges’ ruling against his travel ban, they are not yet convinced he can ‘walk-the-walk’. Thursday’s White House budget proposals, which focussed on cutting funding for projects deemed to have regional benefits, in order to increase funding to those with national scope, compounded this with some commentators suggesting the new programs will be less effective than existing ones. The President’s joint address to Congress, calling for legislation to procure US$1tr to rebuild the country’s tired infrastructure, for example, makes for great soundbites but Congressional scrutiny, particularly from fiscal conservatives who are reluctant to back massive federal spending, looks set be arduous to say the least. So while the wall of money being liberated globally from bond market rout provides plenty of back pressure, investors appear to be waiting for a new injection of confidence before being prepared to push already heady equity valuations one further step further. Traders also appeared unimpressed by U.S. Treasury Secretary Steven Mnuchin rebuffing a concerted push by world finance chiefs to disavow protectionism, fanning fears that the Trump administration's pursuit of an ‘America First’ policy could ignite global trade conflicts. With many officials suggesting they departed the G-20 meeting confused about where the new administration will ultimately land on trade policy, US equities ended mixed with only the NASDAQ able to put on a minute gain helped by Adobe, while the other two principal US indices were knocked by continued selling of health-care stocks, in particular Amgen which had released disappointing results from a cholesterol drug study. The cautionary mood spread to Asia, where only the Hang Seng put on a modest gain while the region’s other indices stayed in the red with the Nikkei being closed for a holiday. Important macro data from London today is limited to the Rightmove House Price Index for February which was released at midnight at +2.3% y-o-y, in line with expectations, while the EU produces Q4 Labour Costs; the US provides its Chicago Fed National Activity Index and later the Fed’s Charles Evans is due to make a speech. UK corporates due to report today include Volution Group (FAN.L), Satellite Solutions Worldwide (SAT.L), Frenkel Topping Group (FEN.L), Phoenix Group (PHNX.L) and Finsbury Food Group (FIF.L). Equities in London as seen similarly lacklustre this morning, with the FTSE-100 see moving 5 to 10 down in early trading.
Companies: Cyanconnode Berkeley Group