Countryside pushes ahead with £1bn IPO – and share price rises 1.54 per cent February 12, 2016 Its timing could have been better. Developer Countryside Properties (not to be confused with fairly recently-IPOd estate agent Countrywide) pushed ahead with its IPO this morning, despite general gloom on the markets. Rather sensibly, it had decided to price shares right at the bottom of its range of 225p to 275p, valuing it at just over £1bn. As the [...]
JD Sports appoints Pentland chairman Andy Rubin to its board as international expansion beckons February 12, 2016 JD Sports Fashion has appointed Pentland Brands chairman Andy Rubin to its board as a non-executive director as the business looks to ramp up its international expansion. Rubin is also director of the Pentland Group – which owns brands including Boxfresh, Ellesse, Speedo and Hunter – has previously won accolades as one of the best companies to work for in the country [...]
Rolls-Royce share price soars on its first cut dividend in 24 years as profits slump February 12, 2016 Plunging profits have forced Rolls-Royce to slash its dividend for the first time in a quarter of a century – but shareholders were mollified. The figures Rolls-Royce has cut its dividend to 16.4p for 2015, down 23 per cent from 21.3p last year. The engine maker reported underlying revenue of £13.4bn for 2015, down one per cent [...]
CMA fines pharma companies including GSK £45m February 12, 2016 The Competition and Markets Authority has fined GlaxoSmithKline, Generics UK and companies formerly known as Alpharma £45m for conspiring to delay the entry of a generic drug between 2001 and 2004. GSK, which has been fined £37.6m, was found to have made payments and other value transfers of more than £50m to Generics UK and Alpharma, who [...]
JP Morgan Chase share price rises after chief executive Jamie Dimon buys 500,000 shares worth $26.5m February 11, 2016 JP Morgan chief executive Jamie Dimon has bought 500,000 shares in the bank, worth roughly $26.5m, City A.M. understands. The bank's shares rose 1.4 per cent in after-hours trading, after the purchase was first reported. JP Morgan was one of many global lenders whose shares were clobbered during turbulent trading today. The bank's shares ended [...]
US stocks end lower as banks including Bank of America, Citigroup and Goldman Sachs are walloped February 11, 2016 Despite their best efforts, US stocks followed the rest of the world's stock markets lower. The Dow Jones finished the day 1.6 per cent lower, at 15,660 points, while the S&P 500 finished 1.23 per cent lower, at 1,829 points. And while the Nasdaq had a late rally, jumping into the green for a few [...]
Groupon shares shoot up by almost 20 per cent after company reveals it swung back into profit last year February 11, 2016 Shares in e-commerce company Groupon shot up by almost 20 per cent in after hours trading after the firm revealed it swung back into profit in 2015. The group reported a 3.8 per cent increase in revenue in the final quarter of 2015, up to $917m (£634m) from $883m, smashing through expectations of $845.9m. Gross [...]
Disney, Expedia, Cisco and Tripadvisor: Four US stocks bucking the global selloff trend (for now) February 11, 2016 With global shares plummeting and a sheen of sweat starting to form on bankers' brows, you'd think the end was nigh. But it's not all doom and gloom. Check out these US stocks bucking the trend – and proving it isn't the end for the markets (yet). 1. Tripadvisor – up 12.2 per cent Why's it winning? It [...]
Dairy Crest shares churn on losses from in its dairies division February 11, 2016 Dairy Crest shares fell today after the company said losses in its dairies division continued ahead of its sale to German group Müller. The company, which owns Cathedral City cheese and Frijj milkshakes, now expects net proceeds from the sale before working capital adjustments to be around the lower end of £40m to £50m. Dairy Crest added that [...]
PepsiCo reports fourth-quarter 2015 earnings beats revenue estimates as sales rise in North America February 11, 2016 PepsiCo, the US owner of brands ranging from Pepsi to Tropicana and Quaker Oats, reported revenue of $18.59bn (£12.86bn) for the fourth quarter of 2015. This represented a decline of seven per cent from the $19.95bn reported in the same period of 2014, but came in ahead of analysts' expectations of $18.51bn. Profit dipped by [...]