StatPro Group (SOG); partners with J.P. Morgan for an initial term of five years
he collaboration will provide J.P. Morgan clients access to the Portfolio Analytics platform, StatPro Revolution
StatPro and J.P. Morgan have announced a strategic partnership with an initial term of five years between J.P. Morgan’s Data and Analytics business and Statpro for the development of its Risk and Performance Attribution capabilities for portfolio managers.
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Chemring Group (CHG); completes sale of military pyrotechnics business
Process to exit commoditised energetics business in Florida is ongoing
Chemring announced today the sale of Chemring Defence UK (CDUK), its military pyrotechnics business, to PWD Group (PWD). CDUK incurred an operating loss of £0.7m and generated revenues of £11.8m in the year ended 31 October 2018. The company treated the business as discontinued in its 2018 financial statements.
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2019 earnings forecasts losing momentum
Rising markets and declining forecasts highlight the impact of lower rates on valuations
Author: Alastair George
It can hardly be a surprise, given the recent sharp declines in PMI indices on a global basis, that 2019 earnings forecasts have once again started to decline. Markets have rallied since Mario Draghi’s dovish commentary last week, which was quickly followed by a bullish interpretation of the US Federal Reserve’s interest rate decision. However we believe investors also need to pay attention to weakening trends in corporate profits which are likely to persist in our view, at least until PMI indices turn higher.
Read more...KEFI Minerals (KEFI); provides update on exploration at Hawiah prospect in Saudi Arabia
KEFI Minerals has provided details on the exploration underway at the company's Hawiah Exploration Licence in Saudi Arabia.
KEFI Minerals has provided details on the exploration underway at the company’s Hawiah Exploration Licence in Saudi Arabia. An initial 2,500 metre diamond scout drilling programme is planned to start in Q3 2019. The field work has begun with a modest cost, but potentially high-impact, according to the company.
Read more...Nanoco Group (NANO); US customer not to extend contract
Decision not driven by the performance of the company’s materials or service delivery.
Nanoco Group announced that its US customer has decided not to continue the project beyond the current contract. It noted that the decision was not due to performance of its materials and service delivery. It is exploring potential uses of the technology with a range of customers, including the US customer.
Read more...IQE (IQE); expects to deliver revenue of £65m to £68m for H1 2019
Strong revenue growth in Photonics to continue from 2020
IQE provided the following trading update ahead of the financial close for H1 2019. It expects to deliver revenue of £65m to £68m for H1 2019 (consensus £68m). H1 2019 was affected by a weak smartphone handset market, particularly in the Wireless Business Unit.
Read more...Augean (AUG); posts trading update
FY19 profit expected ahead of market expectations
Augean, a specialist in hazardous waste management, issued a trading update, stating that the group’s profit for the year to 31 December 2019 is expected to be ahead of market expectations. This is driven by stronger group trading performance in the second quarter.
Read more...Minimal capitulation from the FOMC
US rate cuts in prospect - but Fed still waiting to see impact of uncertainties on data
Author: Alastair George
Yesterday’s FOMC statement and Fed Chair Powell’s press conference may have satisfied those looking for US rate cuts later in 2019. However, we see in both the statement and the press conference an uncharacteristic reluctance to react pre-emptively. This is despite a lowering of the central projection for inflation by 0.3% to a below-target 1.5% for 2019. It would have been relatively straightforward in our view to have argued for a cut now.
Read more...Regional REIT (RGL); announces refinancing amounting to £121m
Regional REIT has agreed to a £66m 10-year facility with Santander, which refinances the existing £44m facility due to mature in November 2022. Additionally, the company agreed to a £55m 5-year facility with the Royal Bank of Scotland (RBS), which refinances the existing £27m facility with RBS and the £19m facility with HSBC, both due to mature in December 2021.
Read more...Avacta Group (AVCT); partners with Selexis to develop cell line
Avacta Group has partnered with Selexis to develop the Chinese hamster ovary (CHO) cell line that will be used to manufacture Avacta’s first Affimer clinical candidate for first-time-in-human clinical trials. The partnership will enable Avacta to remain on track to submit an IND/CTA application for an Affimer PD-L1 inhibitor by the end of 2020.
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