UK drug giant AstraZeneca (AZN) drops 13.9% to £41.49 on the company rejectinga third and final £55 a share bid from Pfizer (PFE:NYSE). This latest offer values the Cambridge-based company at £69 billion. The US outfit cannot make another bid for at least six months.

Centaur Media (CAU) falls 7.5% to 65p after a weak trading update raises risks over its earnings forecasts. We take a closer look in this news analysis.

European non-life insurer Gable (GAH:AIM) jumps 5.1% to 82.2p on strong financial resultsand a positive outlook. Its underlying pre-tax profits improved 99% to £11.4 million last year, the result of a 63% premium rise to £58.9 million. Gable expects to move into new territories this year. For more details including analyst comment, read this article by our insurance reporter.

Office cleaning giant Mitie (MTO) nudges ahead 0.3% to 311.96p as full-year resultshit expectations. Yet Liberum Capital notes a host of negative factors and reiterates its 'sell' rating, citing a falling order book and pipeline, higher-than-expected one-off items, rising capitalised mobilisation costs and a new divisional structure for the fifth time in seven years.

Social housing maintenance-to-care provider Mears (MER) dips 2.3% to 471p despite a reassuring trading updatethat includes a £3.8 billion order book and £3 billion bid pipeline. Investors are perhaps worried about reduce earnings visibility for the next financial year, versus the same point last year. That's because it has two important contracts coming up for renewal in Sedgefield and Gateshead. Mears also flags the speed of new opportunities has been slower than anticipated.

Low-cost Irish carrier Ryanair (RYA) rises 5.8% to €6.72 after revealinga 3% rise in revenues to €4.9 billion on the back of a similar rise in passengers in the 12 months to the end of March 2014. Profit before tax was 8% lower at €523 million but slightly ahead of guidance.

Specialty chemicals outfit Zotefoams (ZTF) slips 1.6% to 276.5p despite the group's interim management statementasserting that overall trading performance for the first four months of the year was in line with management expectations. Good volume growth in the Polyolefin foams business across the UK, Europe, North America and Asia was supported by strong growth in the High-Performance Products segment.

Video games retailer GAME, bought out of administration two years ago, is returning to the stock market under the new moniker GAME Digital. Having been restructured and turned around under new ownership, the IPO is expected to value the business at £400 million. Also floating is healthcare group BBI Diagnostics which hopes to join the main market in June.

Closed life fund consolidator Chesnara (CSN) slips 2.1% to 306.1p on its pre-tax profit falling16% to £7.3 million in the first quarter, blaming flat economic conditions.

Sausage, sandwich and bacon producer Cranswick (CWK) puts on 5p at £12.13 on better-than-expected full-year results. Despite pressures on UK consumer spend, weak grocery volumes and record hog input prices, pre-tax profits grew 6% to £52.2 million on sales 12% ahead at £980.6 million. Cash-generative Cranswick also hikes the total dividend 6.7% to 32p, extending its record of unbroken dividend growth to 24 years.

PC World-to-Currys owner Dixons Retail (DXNS), set to merge with Carphone Warehouse (CPW) in a retail mega deal, sparks up 3% to 45.26p on further positive restructuring news. The electricals specialist has agreed to sell 26 loss-making Electroworld stores in the Czech Republic and Slovakia to Slovakian electronics leader NAY.

Slumping demand for exam testing services sparks a damaging profit warningat microcap DRS Data & Research (DRS:AIM). The stock crashes 33% to 17.5p on a 15% year-on-year collapse in volumes and missing out on a hoped-for big contract win.

Solar panel pricing pressureis back with a vengeance for PV Crystalox Solar (PVCS:AIM) driving the shares 15% lower to 18.75p. Cheap Chinese imports are again flooding global markets and the company's confidence in a second-half easing up looks rose-tinted. Shares highlighted the long-term pricing headwinds facing PV last October.

Independent financial advisory group IFG (IFP), whose companies included self-invested personal pensions (Sipp) provider James Hay, reveals an inline first-quarter performance. James Hay enjoyed strong business flows during the first four months of 2014, writing 2,050 new Sipps in the 1 January to 30 April period versus 1,743 last year. The shares fall 3.6% to 133p.

East African oil and gas play Aminex (AEX) slips 9.3% to 0.82p despite a relatively-positive trading updatewhich reveals a seismic acquisition programme is underway on its Rovuma PSA onshore Tanzania. The work aims to identify drill-ready prospects and is set to complete by the end of the summer. The company says it continues to look for new financing solutions following the $15 million fund raise in February.

Latin American focused oil firm Global Energy Developments (GED:AIM) gains 2.1% to 74p as it mobilises a rig to test the Catalina-1 well on its Bolivar project in Colombia. Initial results are expected in July.

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Issue Date: 19 May 2014