Specialist video games retailer GAME Digital (GMD) fails to excite on its return to the stockmarket, trading at 199.5p having priced its offer at £2 per share for a £340 million debut market cap. A market leader in the UK and Spain, GAME is now profitable and cash-generative, having been turned around under new ownership after going into administration in 2012.
London Pride brewer and premium-end pubs operator Fuller Smith & Turner (FSTA) rises 3.8% to 983.75p on an impressive set of full-year results triggering upgrades from analysts. We discuss the company's prospects in this news analysis.
FTSE 250 telecoms services supplier KCOM (KCOM) rises 2.8% to 93.4p after slashing £25 million off net debt to £75 million in the financial year to March. The figures are otherwise unsurprising with revenues down modestly but earnings before interest, tax, depreciation and amortisation (EBITDA) up slightly to £75.3 million.
Multi-utility supplier Telecom Plus (TEP) is losing its finance director Chris Houghton after five years in the job, to pursue new interests. Houghton officially goes in October to ensure a straight-forward handover, reassuring the markets, with the shares rising 14p to £15.05.
Nuclear engineer Redhall (RHL:AIM) slumps 19.2% to 31.5p on yet another profit warning and the departure of its chief executive officer. The small cap has been beset with problems over the years, most recently contract timing delays. We warned it was too early to consider Redhall as a recovery play in the 29 May issue of Shares where we discussed turnaround situations.
Bradford-based grocer Morrisons (MRW) is marked down another 2.2p to 190.3p. Investors are rattled by yesterday's astonishing public attack on CEO Dalton Philips and denouncement of his strategy by former chairman Sir Ken Morrison at the embattled retailer's annual meeting, which followed the resignation of chairman Sir Ian Gibson.
Falklands explorer Rockhopper Exploration (RKH:AIM) falls 1.5% to 93.5p as it reveals a loss of $78 million for the year ended in March. This can largely be attributed to the recognition of the capital gains tax liability associated with the farm-out of an interest in its Sea Lion project to Premier Oil (PMO), a non-cash item.
Cannabinoid-focused pain relief drug maker GW Pharmaceuticals (GWP:AIM) rises 5% to 355p on its Dravet Syndrome treatment being fast tracked by US regulator the FDA. Phase II trials for Epidiolex, which seeks to treat a form of childhood epilepsy, will start this year.
Medical device specialist Sphere Medical (SPHR:AIM) improves 3.7% to 28p on its arterial blood analyser used in intensive care units and operating theatres being set for a commercial launch after securing its CE marking. The company also reports that its losses in first quarter were lower than expected.