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.
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