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Traders Thread - Wednesday 28th May (EMAP)
Crocodile - 27 May 2003 23:00
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Gold
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S&P &Futures (Click for latest)
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Pre Market Futures (7:30) | |
| FTSE | +30 | ||
| TechMark | +3 | ||
| DAX | +28 | ||
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Hang Seng +65
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Nikkei +113
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DOW | +8 |
| S&P | +0.4 | ||
| Nasdaq | +0.5 | ||
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News Headlines:
In the US positive consumer confidence
figures and April new home sales data boosted the Nasdaq by more than 3
percent and the Dow Jones Industrial Average rang up triple-digit gains
Ex dividend day tomorrow with Sainsbury 11.36p looking very good! Emap: media said on Wednesday its profit for the year to March 31 rose 16 percent at 175 million pounds and said trading for April and May remains on track. It said it is cautious about improvements in the media markets, but is confident it will meet its full-year expectations. Analysts expected profits from 169.8 million to 173.5 million pounds, look for Pearson & other media stocks to react in the sector. GUS: Beat market expectations Northern Foods: Annual profits rise on cost cutting however biscuit ales hurting prices due to cocoa profits Premier Farnell: electrical components distributor reported a fall in first-quarter pre-tax profit and said it expected little improvement in its markets for the rest of the year. Pre-tax profit fell to 12.4 million pounds in the first quarter to May 4 from 17.8 million a year earlier. Watch Electrocomponents for similar move! British Land: UK second biggest quoted property firm British Land Plc, whose earnings have been hit by falling rental prices, reported annual profits on Wednesday that beat market forecasts. Look for gains on Canaty Wharf! Icap: broker said that its pre-tax profits for the year to March 31 rose 39 percent to 123.7 million pounds, a record for the company. The firm posted an earnings per share of 77.3 pence, up 33 percent on the year before, and a total dividend of 30 pence, up 25 percent. Looks very good results. Shire Pharmaceuticals: UK third-largest drugmaker lost a U.S. court ruling that said Barr Laboratories Inc could continue to sell its generic version of Shire's top-selling hyperactivity drug Adderall. Shanks: waste management firm reported a 32 percent drop in its annual pre-tax profit and said it expected difficulties in its UK Waste Services division to restrict overall growth. EasyJet said it would begin hedging its jet fuel costs and dollar exposure to make it less vulnerable to swings on foreign currency and oil markets.
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Insider trader
- 28 May 2003 07:07
- 2 of 3
| 23rd May | 27th May | Change | Consensus Rating | Broker Change | |
| Allied Domecq | 2.71 | 2.63 |  3.0% | Hold | Williams de Broupgrades Allied to "buy" as it is now the preferred beverage play ahead of SABMiller |
| BT Group | 2.68 | 2.59 | 3.4% | Hold | Many brokers amend their estimates following the telecom group's results last week. Deutsche ups sales, PBT and EPS targets, whereas Exane lowers all three. JP Morgan lowers sales but ups EPS. WLBP reiterates "buy" rating and 240p target price, heartened by the improvement in net debt position. Meanwhile, Lehman adds BT as a short to its European monthly focus list. |
| Hanson | 2.83 | 2.72 | 3.9% | Hold | Teather & Greenwood ups its rating to "buy". Meanwhile, Smith Barney notes that Hanson has made greater provision for potential asbestos risk relative to its liabilities than peer, Saint Gobain. |
| Royal & Sun Alliance | 3.13 | 3.17 |  -1.3% | Hold | Goldman downgrades to "in-line" from outperform following the share price rally that occurred on the back of better than expected results, believing there is lmited upside to the current value. |
| SABMiller | 2.89 | 3.11 | -7.6% | Hold | Lehman lowers its rating to "underweight", ABN Amro lowers to "sell" following the revelation that management expects Miller's decline to continue a further two years. |
| Scottish & Newcastle | 2.79 | 2.71 | 2.9% | Hold | Williams de Broups rating to "buy" but HSBC still says "reduce". |
| Tomkins | 2.82 | 2.76 | 2.1% | Hold | Deutsche upgrades to "hold" following the first quarter results and ups the target price to 192p from 155p. Meanwhile, UBSWarburg downgrades to "neutral" following a recent strong performance by the shares. UBS maintains its 240p target price. |
| MM02 | 2.56 | 2.59 | -1.2% | Hold | Goldman downgrades to "in-line" from outperform. It believes there may be upside potential if 02 were to sell its German business but does not view this as imminent enough to compensate for the increasing competitive risks the company faces. |
| 3i Group | 3 | 3.2 | -6.7% | Hold | Bridgewell upgrades stock to "overweight", believing its upside potential is ideal for those wary of the recent rally some "long-only" financial stocks have experienced |
| Vodafone | 1.95 | 1.97 | -1.0% | Outperform | WLBP says "outperform" ahead of results with a 140p target price. CSFB thinks the shares could rise to 130p if the euro holds against the pound. Oddo thinks earnings will be "decent" but Cazenove thinks Germany is a "notable risk" to ARPU levels. |
Crocodile - 28 May 2003 07:39 - 3 of 3
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