West African focused oil and gas company Bowleven (BLVN:AIM) is sitting on cash of $86m according to its latest accounts. That compares with a market cap in dollars at current exchange rates of around $133m.The money in the bank is what is left from a $165m payment associated with the farm-out of its Etinde field offshore Cameroon in 2015.In March, arguing that this windfall was being squandered,

African oil explorer Bowleven (BLVN) gains 5.7% to 26.4p as it faces pressure from an activist shareholder to oust the majority of its board and shift its strategy.Monaco-based Crown Ocean Capital is calling for a general meeting in order to remove six members of the current seven-strong board including chief executive Kevin Hart and chairman Billy Allan.WHY THE CALL FOR CHANGEThe investor has bui

London stocks surge in early trade on Wednesday after a dovish US Federal Reserve chair Janet Yellen last night reiterated the need for interest-rate caution. Miners and oil majors form the vanguard at the head of the FTSE leader board, the UK blue-chip index charging 85 points, or about 1.4%, higher to 6,192.US equipment rental play Ashtead (AHT), up 2.4% to 871p, is among a number of cyclicals e

Cameroon-focused oil explorer Bowleven (BLVN) at 30p is trading at an anomalous valuation which does not seem a fair reflection of its prospects or assets.The firm is now sitting on net cash of $155 million following the completion of a protracted farm-out agreement (with Russian firm Lukoil (LKOH) and private firm Newage) of its offshore Etinde development. Its market cap - measured in dollars -

As London's fabulous FTSE pauses for breath on Wednesday, easing back 5.99 points to 7,013.69, one eye-catching riser is Balfour Beatty (BBY), as investors react positively to its first set of finals under recently instated chief executive officer (CEO) Leo Quinn. Shares in the heavy construction specialist are up 5.9% at 244.9p despite the posting of pre-tax losses of £80 million, as investors a

AGENDATravel to IHGInterContinental Hotels (IHG) should benefit from the expected growth in travellers from emerging markets given its strong portfolio of brands and pipeline of 194,000 new rooms. Charles Stanley forecasts a 10% increase in both pre-tax profit and dividends in 2015 with the potential for additional capital returns to shareholders. (EP)Concerns about the 3D futureA big collapse in

The stock market's smallest and riskiest companies have always held fascination for private investors. On the premise that 'elephants don't gallop, but fleas leap,' to borrow Jim Slater's often quoted phrase, it's easier for a tiny company to double its size, and investor's money, than for a big one. Let's face it, a blue chip company worth £1 billion will find it much harder to double or even tr

Drax payout boost eyedAnalysts believe that coal-to-biomass electricity supplier Drax (DRX) is set for a prolonged increase in revenues and earnings, paving the way for a dividend payout hike that could exceed 200% by 2016. Consensus is for an 11.3p per share dividend this year, but top-of-the-range market estimates reckon it could rise to 37.9p inside three years. (SFr)Synthomer's margin woeMajor

Printing technology kit supplier Domino Printing (DNO) is the day's biggest FTSE 350 faller, the shares off more than 13% to 640p. Pricing pressure and difficult markets in Asia force the group to taper expectations this year. Underlying first half pre-tax profits show a 10% increase but hefty research and development spending ahead spooks investors.Microchip designer Imagination Technologies (IMG

Online retailer MandM Direct is set to become the latest listed play on the structurally-attractive value sector. Selling well-known brands including Converse trainers and Diesel jeans at up to 75% markdowns from the recommended retail price, the profitable company, guided by former John Lewis online chief Jonathon Brown, has announced its intention to float on Aim via a £12.5 million placing to

African oil explorer Bowleven (BLVN:AIM) is on the march as it achieves a significant milestone in the development of its Etinde gas and condensate project offshore Cameroon.The shares rise 11.6% to 37.7p with a formal resolution confirming government support for the Etinde Exploitation Authorisation application now signed. A formal decree from president Paul Biya is expected to be released before

Mike Ashley's European retail powerhouse Sports Direct International (SPD) has scored again, rising 5.6% higher to 755.75p on another strong trading statement. The UK's biggest sports retailer by sales and operating profit reports 11.2% overall sales growth to £655.4 million over the 13 weeks to 26 January. Gross profits power 14.6% ahead to £280.7 million, helped by its value proposition and on

Specialty chemicals outfit AZ Electronic Materials (AZEM) has received a €1.9 million takeover offerfrom German chemicals giant Merck, sending its shares up 51.6% to 398.5p. Shareholders in AZ, which supplies products used in iPads, smartphones, semiconductors and flatscreen TVs, are set to receive 404p per share in cash, representing a 53% premium to Wednesday's closing price of 263p.Recycle

Doing your homework is the first rule of stock selection and information regarding a company's financial position, track record and prospects is readily available via data sources such as the website of Shares' sister publication MoneyAM (see www.moneyam.com). However, in addition to examining the fundamentals and wading through research issued by brokers, investors should always pay attention to

Investors in two of the country's biggest insurers toasted financial results today from Legal & General (LGEN) and Admiral (ADM) as they announced large dividend hikes. The two companies are both raising their dividends by 20% which has helped to strengthen their share prices.Legal & General nudged up 1.35% to 164.9p as operating profit increased to £1,087 million from £1,053 million in 2011. Th

Investors applauded life assurer Phoenix's (PHNX) decision to hike its dividend by 27% and pay down debt. The £1.1 billion cap advanced 8.4% to 640.5p on a string of news which includes plans to raise £250 million in a share placing at 500p as part of a major capital restructuring.In contrast, £6 billion cap oil service provider Petrofac (PFC) was the FTSE 100's worst performer, down 7% to £16