Analyst Views: What does the future look like for Arm in the context of these results? April 23, 2014 LIBERUM | EOIN LAMBE AND JANARDAN MENONArm has reported first quarter results below our forecasts, mainly due to weaker than expected processor royalty revenues. We believe the disappointing royalty trend is mainly driven by slowing growth in smartphones and tablets and we expect these trends to continue. Sell maintained. INVESTEC | JULIAN YATESWith gross margins [...]
Ericsson waits for 4G as sales fail to impress April 23, 2014 MOBILE telecoms equipment firm Ericsson yesterday missed forecasts on sales and earnings growth, though the company is hopeful that the spread of 4G networks will boost sales in future. Swedish firm Ericsson reported earnings before interest and tax of 2.6bn crowns (£236m), up from 2.1bn a year ago but well short of analyst predictions of [...]
Boeing bounces after orders for planes rise April 23, 2014 SHARES in plane manufacturer Boeing ascended yesterday as the firm beat Wall Street’s forecasts on adjusted profits and revenues. The company posted an eight per cent rise in turnover to $20.5bn (£12.2bn) for the first three months of the year, driven by demand from commercial airlines improving their fleets. The increase was amplified by the [...]
Drab US factory and housing numbers hit recovery hopes April 23, 2014 LACKLUSTRE economic figures weighed on investor sentiment across the pond yesterday, with manufacturing and housing data coming out worse than expected. The US factory sector kept growing this month, according to Markit’s initial flash estimate. Yet the purchasing managers’ index (PMI) score of 55.4, down from 55.5 in March, disappointed economists who had expected a [...]
Evercore sees deal increase April 23, 2014 INVESTMENT banking advisory firm Evercore has blamed delays in finalising a number of big deals for a swing in its quarterly results, with revenues down two per cent on last year and net income up 44 per cent. Chief executive Ralph Schlosstein said the advisory business “grew only modestly” in the quarter, though the company [...]
US Corporate results roundup April 23, 2014 Delta Air Lines climbs on growth in ticket sales and its marginsDelta Air Lines yesterday reported a higher-than-expected first quarter profit of $213m and gave a strong outlook for the current period, sending its shares up five per cent. Delta said it expected an operating margin of 14 to 16 per cent for the second [...]
Buyers on the hunt for riskier big mortgages April 23, 2014 MORE than a quarter of prospective home buyers are now chasing riskier large mortgages, according to research released today, suggesting that announcements about the controversial Help to Buy scheme have driven the interest. According to Mortgage Advice Bureau (MAB), 27 per cent of house hunters are now looking to pay out less than a 10 [...]
Improving economy lifts demand at Hammerson’s shopping malls April 23, 2014 HAMMERSON, the Anglo-French shopping centre landlord, said yesterday that an improving UK economy had helped to drive demand for its sites. The developer signed UK leases at eight per cent above estimated rental value in the period from 1 January to 22 April, and by one per cent in France. Footfall across its UK sites [...]
Amec receives record orders April 23, 2014 ENGINEERING giant Amec yesterday said trading is in line with expectations for 2014, with a record £4.2bn order book giving confidence for further growth. The FTSE 250-listed firm said that its £1.9bn acquisition of US rival Foster Wheeler, which was announced in January, is on track for completion in the third quarter. “We believe the [...]
SSP wins £35m Athens airport contract April 23, 2014 SSP, the food services group run by former WH Smith chief executive Kate Swann, has won a seven-year contract worth €42m (£34.6m) to run nine outlets at Athens’ international airport Eleftherios Venizelos. The restaurants inside a 500 square metre food court opened last month and include Le Grand Comptoir and bakery brand Panopolis. The group, [...]