Lonmin’s share price is tanking after platinum miner warns shareholders to approve $400m rights issue or face company closure November 6, 2015 Lonmin shares are down 14 per cent this morning, and more than 33 per cent since the start of the week, after warning that it would need to tap shareholders for $400m to help refinance or face the possibility of closure. The business warned that it would have to stomach a $2bn writedown as low platinum prices [...]
TalkTalk hack: Share price bounces as telecoms giant lowers estimate of number of customers affected to less than 157,000 November 6, 2015 TalkTalk shares rose six per cent to 234p in the first minutes of trading this morning, after it lowered its estimate of the number of people affected by last month's hack to less than 157,000 people. In conjunction with the police, the telecoms giant said it now believed just 15,656 bank account numbers and sort codes were [...]
International Airlines Group passenger numbers jump as British Airways names Alex Cruz new boss November 6, 2015 International Airlines Group (IAG) said this morning passenger numbers jumped 16.6 per cent in October this year – as it named the new boss of British Airways. On a pro-forma basis, that increase was 7.6 per cent. Meanwhile, group capacity measured in available seat kilometres rose 13.2 per cent – up 4.3 per cent on [...]
Marks and Spencer, Randgold Resources, Partnership Assurance: Best of the Brokers for 6 November 2015 November 6, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MARKS AND SPENCER Canaccord Genuity has changed its rating for Marks & Spencer to “hold” with a target price of 570p, after it was briefly “under review” and previously “speculative buy” at 550p. M&S released interim results on Wednesday that the broker thought [...]
Walt Disney revenue sparkles at $13.5bn for fourth quarter of 2015 November 5, 2015 Revenue at The Walt Disney Company sparkled for its fourth quarter of 2015, coming in at $13.5bn (£8.88bn), up nine per cent from $12.4bn for its fourth quarter of 2014. Net income was reported at $1.6bn, up seven per cent from $1.5bn, equivalent to diluted earnings per share of 95 cent and 86 cent respectively. [...]
Dreamworks Animation shares fly up after hours as company smashes through expectations with $259m revenue November 5, 2015 Shares in Dreamworks Animation, the company behind the Shrek and How To Train Your Dragon franchises, went up by almost nine per cent in after hours trading, despite the firm posting a $3.5m (£2.3m) loss for the third quarter of 2015. However, revenue rose 43.3 per cent to $259m in the three months to 30 [...]
Food giant Kraft Heinz cooks up net sales of $6.1bn in first set of results after merging in July November 5, 2015 Food giant Kraft Heinz has revealed net sales of $6.1bn (£4bn) for its third quarter of 2015, up 136 per cent from $2.6bn for the same period last year. The company, known for kitchen staples like Heinz Tomato Ketchup, Philadelphia cream cheese and Maxwell House coffee, also reported a net loss of $303m after a [...]
Fast food chain Shake Shack shakes revenue up to $53.3m in third quarter of 2015 results November 5, 2015 Shake Shack has today reported total revenue of $53.3m (£35.1m) for its third quarter of 2015, an increase of 67 per cent from £31.8m from the same period last year. The fast-food chain also revealed net income for the period of $1.5m, up from $0.5m. Commenting on the company’s quarter, Randy Garutti, chief executive officer [...]
Vocalink is reportedly in talks to merge with rival Sia November 5, 2015 Payments infrastructure company Vocalink is reportedly in talks for a £2bn merger with Italian counterpart Sia. According to Sky News the discussions are said to be at a preliminary stage, and could take several months before an agreement is reached. Vocalink declined to comment. VocaLink runs the Faster Payments Service and BACs which handle trillions [...]
Martha Stewart Living Omnimedia revenue chopped 41pc to $17.5m for third quarter of 2015 November 5, 2015 Revenue for Martha Stewart Living Omnimedia has been almost chopped in half for its third quarter of 2015, dropping 41 per cent to $17.5m (£11.5m) from $29.6m in the same period last year. Despite this, the lifestyle company reported that it had edged closer to the black, with a net loss of $1.5m, compared to a [...]