13 May 2013
Latest
Cambridge Index gains 2.8%
The Cambridge Index rose 2.8% or 445.6 points to 16,224.7, during the four day trading session, as nine of the top ten index heavyweights recorded gains. ARM Holdings finished 3.9% higher during the week. Morgan Stanley rated the stock as “Equal Weight”, and reiterated its target price on the stock at 925p. Morgan Stanley also rated Aveva Group, up 0.4%, as “Overweight”.
Brady, up 14%, emerged as the top gainer in the Cambridge Index. The company announced that it has won an order from Royce Corporation - a US based international trading company - to handle its trading, risk management and logistics processes. Blinkx, up 13.2%, noted that it would release its final results for the 12 months ended 31 March 2013 on 13 May 2013. Xaar, up 10.5%, announced that its Operations Director, Ted Wiggans, has acquired 2,000 shares in the company at a price of 527p per share, increasing his shareholding to 4,634 shares. CSR rose 7.2% during the week. The company announced that first quarter revenue rose 5% to $237.93m from $226.99m, while operating profit stood at $7.7m, compared to a loss of $15.8m. The company recorded a pre-tax profit of $5.9m, compared with a loss of $16.6m a year earlier, and stated that it expects second quarter revenue to be between $245m - $265m. Domino Printing Sciences, up 0.1%, is due to issue its interim statement for 6 months ending 30 April 2013 on 25 June 2013.
PDX (Pursuit Dynamics) fell 15.5% during the week, and emerged as the largest percentage faller in the Cambridge Index. Amino Technologies, down 0.6%, announced the appointment of Martin Wilks as Director of Engineering. Ubisense Group, down 2%, announced that it has been selected by Black Hills Corporation, a leading North American energy company, to provide network asset realignment services for its operations in Iowa, Kansas, Nebraska, Wyoming and Colorado.
In the UK, the FTSE 100 index rose 1.6% to 6,625 during the week ended 10 May, as upbeat economic data and strong corporate earnings bolstered investors’ confidence. The FTSE techMARK 100 Index rallied 3% to 2,833.5, while the FTSE AIM 100 Index edged 0.8% higher to 3,269.6.
US markets advanced during the week, buoyed by a better-than-expected jobless claims report. Positive sentiment was fuelled after several companies, including Walt Disney and DirecTV, reported earnings that surpassed analysts’ estimates. The Dow Jones Index advanced 1% to 15,118.5, while the Nasdaq Index put on 1.7% to 3,436.6.
Index Movers
1Spatial Holdings PLC
1Spatial PLC, the Spatial Big Data Company, which manages the world’s largest spatial data, fell 3.7% to 6.5p.
Bango PLC
Bango PLC, a developer and provider of technology for mobile phones, lost 4.3% to 191.0p.
Blinkx PLC
Blinkx PLC, the leading video search engine, added 13.2% to 107.0p. The company is slated to release its final results for the 12 months ended 31 March 2013 on 13 May 2013.
Brady PLC
Brady PLC, a provider of transaction and risk management solutions for metals and commodities, advanced 14.0% to 81.5p, and emerged as the top gainer in the Cambridge Index. The company announced that Royce Corporation, a US based international trading company, has selected Brady to handle its trading, risk management and logistics processes. Chief Executive Officer, Gavin Lavelle, said, “Brady is committed to providing companies trading the full portfolio of metals, from primary metals and steel to scrap, with a solution that also manages the basis risk between locations, qualities and the marketplace, and simultaneously providing those companies exposed to market price volatility with the most advanced, real-time solution to buy, sell and transport commodities.”
Elektron Technology PLC
Elektron Technology PLC, a provider of fast moving engineered products, added 9.8% to 12.5p.
PDX
PDX PLC (Pursuit Dynamics), a company that develops and markets advanced technology solutions to address complex global concerns, fell 15.5% to 1.6p, and emerged as the largest faller on the Cambridge Index.
Phytopharm PLC
Phytopharm PLC, a pharmaceutical development and functional food company, fell 4.3% to 1.3p.
Sagentia Group PLC
Sagentia Group PLC, an international technology consulting and IP licensing firm, rose 7.5% to 115.0p.
Sareum Holdings PLC
Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, fell 3.0% to 1.0p.
Xaar PLC
Xaar PLC, a provider of inkjet printing technology, rose 10.5% to 560.0p. The company announced that the Operations Director, Ted Wiggans, has acquired 2,000 shares in the company at a price of 527.0p per share. Following this transaction, his beneficial holding in the company stood at 4,634 shares of the company’s total issued share capital.
Other Movers
Amino Technologies PLC
Amino Technologies PLC, broadband network software and systems company, fell 0.6% to 82.5p. The company announced the appointment of Martin Wilks as the Director of Engineering. Amino pencilled his responsibilities for both the software & hardware development of Amino's Aminet and Live range of devices.
ARM Holdings PLC
Shares of chip maker, ARM Holdings PLC, rose 3.9% to 1072.0p. Morgan Stanley rated the stock as “Equal Weight”, and reiterated its target price on the stock at 925.0p.
Aveva Group PLC
Engineering technology company, Aveva Group PLC, rose 0.4% to 2253.0p. The company was assigned an “Overweight” rating by Morgan Stanley. Morgan Stanley also set the target price on the stock at 2,400.0p.
CSR PLC
CSR PLC, engaged in designing single-chip wireless devices, rose 7.2% to 544.0p. The company, in its first quarter results for the 13 weeks ended 29 March 2013, announced that its revenue rose 5% to $237.93 million from $226.99 million, while operating profit stood at $7.7 million, compared to a loss of $15.8 million recorded in the same period previous year. The company recorded a pre-tax profit of $5.9 million during the first quarter ended 29 March 2013, compared with loss of $16.6 million a year earlier. Further, the company stated that it expects second quarter revenue to be between $245 million to $265 million. Chief Executive Officer, Joep van Beurden, said, “We saw good growth in the area of Bluetooth stereo audio in our Voice & Music business and also from our connectivity products in the Auto business. We expect both these trends to continue. We also saw strong revenues in mono audio in China, driven by the enforcement of hands-free driving legislation. We expect the benefits of this to come to an end in the second quarter.”
Domino Printing Sciences PLC
Domino Printing Sciences PLC, a provider of ink jet and laser technologies, rose 0.1% to 677.0p. The company noted that it would issue its interim statement for the six months ending 30 April 2013 on 25 June 2013.
Ubisense Group Plc
Ubisense Group PLC, a market leader of real-time location solutions, fell 2.0% to 195.0p. The company announced that it has been selected by Black Hills Corporation, a leading North American Energy Company, to provide the network asset realignment services for its operations in Iowa, Kansas, Nebraska, Wyoming and Colorado. The Ubisense solution would align Black Hills Corporation’s electric and gas utility assets with up-to-date basemaps to provide their operations with accurate network data to facilitate and support planning, design, customer service, maintenance and support across a wide area of coverage. Chief Executive Officer, Richard Green, said, “We are delighted to have been selected by Black Hills Corporation for this important project. Our innovative network alignment solution provides the fundamental building blocks of an accurate utility network. This will provide the foundation upon which other activities, such as service restoration, can be provided with a high degree of certainty of the integrity of the network.”
Research and analysis for these reports has been conducted by Decimal Point Analytics Pvt. Ltd. on behalf of NW Brown Group.
