Cambridge Index

Cambridge Index falls 2.4%

The Cambridge Index retreated 2.4% or 352.37 points to 14,541.6, as gains in Johnson Matthey and DS Smith were overshadowed by a fall in ARM Holdings. ARM’s share price fell 6.6% after investors were disappointed with the company’s third quarter figures, despite reporting that its net profit for the three months ended 30 September increased 34% to £64.8m from £48.5m a year earlier. Revenues also rose 6% to £195.5m. Greene King, up 1.6%, revised its bid to buy Spirit Pub Company, increasing it to £725m. JPMorgan Chase & Co. restated its “Neutral” rating. CSR’s share price fell 1.4%. The company’s IPS™ Universal Print Interpreter has received certification for compliance with the Mopria™ Alliance mobile printing standard.
N+1 Singer upgraded its rating to a “Buy” on Amino Technologies, up 10.4%, with a price objective of 107p, up from its previous price objective of 93p. Numis Securities restated its “Hold” rating on Xaar, up 5.9%, with a price target of 250p. Bango, up 5.8%, signed an agreement with Samsung Electronics, in which Bango will be required to provide carrier billing, collection and settlement for digital content purchased through the Samsung Galaxy Apps app store. Investec upgraded its rating on Dialight, up 5.3%, to a “Hold” with a price target of 850p. Canaccord Genuity reaffirmed its “Buy” rating with a price objective of 1,100p. FinnCap upped its price target from 390p to 400p with a “Hold” rating on Abcam, up 3.9%. Cambridge Cognition Holdings, up 3.1%, has launched the Clinical Trials Information System -Profile 2+, which would enable it to provide pharmaceutical and biotechnology companies with cognitive safety and tolerability testing across all phases of the clinical development of new therapeutic compounds; an addressable market estimated to be in excess of £105m. FinnCap reiterated its “Corporate” rating with a price objective of 100p. Numis Securities reissued its “Hold” rating on Domino Printing Sciences, up 0.3%, with a price target of 650p.
LPA Group, unchanged at 91.5p, issued 5,000 new ordinary shares of 10p each and the admission to trading on AIM is expected to occur on 30 October 2014. Sepura, down 0.4%, expects to report revenues for the first half of €54m, up 18% from the past year and it is trading in line with market expectations for the full year. The group also revealed that it has agreed to a new 5-year finance facility of €35m with Barclays, replacing its existing 5-year RCF of £18m that was scheduled to mature in 2016 and on better terms. Liberum Capital and Investec reissued their “Buy” ratings with respective price targets of 175p and 200p.
UK markets finished higher in the past week, following expectations of additional ECB stimulus and after minutes of the BoE’s latest meeting revealed that the majority of the Monetary Policy Committee members voted to keep rates unchanged at 0.5%. The FTSE 100 index inched 1.2% higher to 6,388.7 and the FTSE techMARK 100 Index rose 2.1% to 3,139.3. The FTSE AIM 100 Index also moved up 3.3% to 3,056.7.
US markets closed higher in the week as just a marginal rise in consumer prices suggested that the Fed would keep interest rates low for a longer period of time. The DJIA index added 2.6% to 16,805.4, while the NASDAQ Index advanced 5.3% to 4,483.7.

Research and analysis for these reports has been conducted by Decimal Point Analytics Pvt. Ltd. on behalf of NW Brown Group.


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Index movers

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, surged 10.4% to 95.5p and emerged as the top gainer in the Cambridge Index. N+1 Singer upgraded its rating to a “Buy” and has a price objective of 107.0p, up from its previous price objective of 93.0p.

ARM Holdings PLC

Shares of chip maker, ARM Holdings PLC, declined 6.6% to 817.0p and emerged as the top loser in the Cambridge Index. The company reported a 34% rise in its third-quarter profit. The company’s net profit for the three months ended 30 September 2014 increased to £64.8 million from £48.5 million a year earlier. Revenues for the quarter rose 6% to £195.5 million. Barclays reiterated its “Overweight” rating on the company’s shares with a price target of 1,200.0p. Numis Securities reaffirmed its “Buy” rating on the stock. JPMorgan, Citigroup and BNP Paribas reaffirmed their “Neutral” ratings. JPMorgan has a current price objective of 750.0p.

CSR PLC

CSR PLC, engaged in designing single-chip wireless devices, lost 1.4% to 845.0p. The company’s IPS™ Universal Print Interpreter has received certification for compliance with the Mopria™ Alliance mobile printing standard.

Cyan Holdings PLC

Cyan Holdings PLC, the integrated software solution provider for utility metering and lighting control, climbed 7.7% to 0.3p.

Horizon Discovery Group PLC

Horizon Discovery Group PLC, the life science company supplying research tools to organisations engaged in genomics research and the development of personalised medicines, dropped 2.8% to 154.5p.

Netcall PLC

Netcall PLC, a provider of call-back, auto-messaging and contact solutions, fell 1.7% to 57.5p.

Quixant PLC

Quixant PLC, a provider of specialized gaming platforms designed for gaming and slot machine applications, jumped 7.7% to 146.0p.

Sagentia Group PLC

Sagentia Group PLC, an international technology consulting and IP licensing firm, added 6.8% to 118.5p.

Ubisense Group PLC

Ubisense Group PLC, a market leader of real-time location solutions, retreated 2.2% to 154.0p.

Vernalis PLC

Shares of biotech firm, Vernalis PLC, advanced 7.4% to 50.8p.

Other movers

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, advanced3.9% to 390.8p. FinnCap upped its price target from 390.0p to 400.0p with a current “Hold” rating on the company’s shares.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, advanced5.8% to 101.0p. The company announced that it has signed an agreement with Samsung Electronics Co., Ltd., in which Bango will be required to provide carrier billing, collection and settlement for digital content - such as games, e-books, music and videos - purchased through the Samsung Galaxy Apps app store.

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, added 3.1% to 82.5p. The company announced the launch of the Clinical Trials Information System -Profile 2+, enabling it to provide pharmaceutical and biotechnology companies with cognitive safety and tolerability testing across all phases of the clinical development of new therapeutic compounds; an addressable market estimated to be in excess of £105m. FinnCap reiterated its “Corporate” rating on the company’s shares with a current price objective of 100.0p.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, climbed 5.3% to 852.0p. Investec upgraded its rating on the company’s shares to a “Hold” with a current price target of 850.0p. Canaccord Genuity reaffirmed its “Buy” rating on the stock with a current price objective of 1,100.0p.

Domino Printing Sciences PLC

Domino Printing Sciences PLC, a provider of ink jet and laser technologies, edged0.3% higher to 581.5p.Numis Securities reissued its “Hold” rating on the company’s shares with a current price target of 650.0p.

Greene King PLC

Shares of pub operator, Greene King PLC, rose 1.6% to 780.0p. Greene King revised up its bid to buy Spirit Pub Company to £725 million. JPMorgan Chase & Co. restated its “Neutral” rating on the company’s shares.

LPA Group PLC

LPA Group PLC, a provider of electronic and electro mechanical systems, remained unchanged at 91.5p.The company announced the issuance of 5,000 new ordinary shares of 10p each and the admission to trading on AIM is expected to occur on 30 October 2014. Following the above issue of equity, the issued share capital of the company will comprise 11,843,229 ordinary shares of 10p each.

Sepura PLC

Sepura PLC, a supplier of network-independent Terrestrial Trunked Radio terminals and digital radios, inched 0.4% lower, at 135.0p. The company, in its trading update, said that it expects to report revenues for the first half of €54m, up 18% from the past year and it is trading in line with market expectations for the full year. The group also revealed that it has agreed to a new 5-year finance facility of €35m with Barclays, replacing its existing 5-year RCF of £18m that was scheduled to mature in 2016 and on better terms. Liberum Capital and Investec reissued their “Buy” ratings on the company’s shares with respective price targets of 175.0p and 200.0p.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, jumped5.9% to 258.8p.Numis Securities Ltd restated its “Hold” rating on the company’s shares with a current price target of 250.0p.

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