Market News and Views
The FTSE 100 is called to open lower this morning as investors await domestic Q3 GDP data to determine their next moves followed by figures from the US later in the session. US stocks rose again driven by the weaker dollar on continuing expectations of a further round of US quantitative easing but Asian stocks were trading lower this morning.
Today's Company announcements
ARM Holdings Q3 Results saw a 60% rise in PBT to £38.8m on normalised revenues ahead 34% at £100.4m. In dollar terms, revenue increased 29% to $158.1m, all of which appear ahead of expectations. It added that the period had been good and entered the final quarter with positive momentum and expects sequential group dollar revenue growth in Q4. Further out, despite the uncertain macro-economic environment, ARM remains well-positioned for growth with leading semiconductor companies increasingly adopting its technology in a broadening range of end-markets.
Go-Ahead IMS reports that overall trading in the period has been robust and there is no change to full year expectations. The Comprehensive Spending Review should have no direct impact on the company in the current year and at this stage believes that it can manage any impact on results in later years via a mix of further cost savings and recovery through fares. It also separately announced that Chief Executive, Keith Ludeman will retire after 15 years in July 2011 and will be succeeded by David Brown who is currently at Transport for London.
Cairn Energy Greenland Update. All operations have now been concluded at the end of the drilling season with the Alpha-1S1 exploration well suspended with the T8-1 and T4-1 exploration wells plugged and abandoned and the Alpha-1S1 well encountering oil shows in the volcanic section. Geophysical operations are still active in Greenland.
360investgroup
Go-Ahead IMS reports that overall trading in the period has been robust and there is no change to full year expectations. The Comprehensive Spending Review should have no direct impact on the company in the current year and at this stage believes that it can manage any impact on results in later years via a mix of further cost savings and recovery through fares. It also separately announced that Chief Executive, Keith Ludeman will retire after 15 years in July 2011 and will be succeeded by David Brown who is currently at Transport for London.
Cairn Energy Greenland Update. All operations have now been concluded at the end of the drilling season with the Alpha-1S1 exploration well suspended with the T8-1 and T4-1 exploration wells plugged and abandoned and the Alpha-1S1 well encountering oil shows in the volcanic section. Geophysical operations are still active in Greenland.
360investgroup
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