Embattled retailer Morrisons (MRW) rises 2.8% to 243.8p on whispers the UK's fourth biggest grocer's founding family wants to take it private. The family, which owns circa 9.5%, is thought to have approached a number of private equity players with a view to stitching together a buyout deal for the struggling supermarket operator which could exceed £7 billion. Morrisons is one of Shares' top picks for 2014.
Pricing pressure remain stiff for co-location data centres operator Telecity (TCY), with investors selling down the shares by more than 10% to 655p after full-year results. Increasingly competitive UK markets are largely to blame.
It's been a long time since investors actually focused on day-to-day pub trading at Punch Taverns (PUB) as debt issues continue to be the main agenda. That doesn't change today with the share price slumping 10% to 11.25p after Punch withdraws its financial restructuring plans after negative feedback from bondholders.
Health, hygiene and home products powerhouse Reckitt Benckiser (RB.) puts on 61p (1.3%) at £48.88 after posting in-line full-year figures and news of 4% fourth quarter like-for-like sales growth. Though strong turns were delivered in India and China, the Durex-to-Dettol brand owner cautions emerging markets continue to slow and surprises by cutting the final dividend from 78p to 77p. We look at the situation in more detail here.
FTSE 100 oil explorer Tullow Oil (TLW) dives 2.2% to 827p as news of a discovery offshore Mauritania is overshadowed by full-year results which confirm the weak financial performance flagged in January's trading statement. Exploration write-offs of $816 million hit the bottom line. So while revenues are up 13% year-on-year at $2.6 billion, pre-tax profits fall 72% to $313 million.
Metals producer African Barrick Gold (ABG) has delivered impressive cost reductions thanks to higher production, yet the turnaround story looks to already be in the price. Many analysts have a 'sell' rating on the stock, saying the valuation has got ahead of itself, which might explain today's 3% drop to 232.5p.
In-store marketing service group Immedia (IME:AIM) surges 21.1% to 16.5p after saying that pre-tax profit for 2013 would beat market expectations. That's down to a strong fourth quarter and seeing the benefits of cost cutting a year earlier. We flagged the potential for Immedia's results to impress in this story published last month.
Clear Leisure (CLP:AIM) drops 21.6% to 1.72p after putting its hotel and travel arm into voluntary liquidation. It has discovered unmanageable debts that were missed during due diligence in 2012 when it took majority control of the business. The shares have more than halved since we flagged the big risks surrounding the company in this website story from April 2013.
Media workflow tech minnow Zoo Digital (ZOO:AIM) is struggling to survive after a massive revenue warning that points to a $9.5 million this year and bigger losses. The stock collapses close on 20% to 7.62p.
Heart-monitoring specialist LiDCO (LID:AIM) slips 3.3% to 25.5p despite anticipation of it making a profit this year. Demand has led to revenues improving by a fifth to £8.6 million beating market expectations, while pre-tax profits are set to meet the company’s forecasts when announced (29 April). Net cash improved to £2.3 million from £2 million during the year. LiDCO is a running Shares Play of the Week.
Irish paper and packaging giant Smurfit Kappa (SKG) adds 5.7% to €19.17 after the group's full-year results show revenue growth in 2013 of 8% and 30% increase in free cash flow as well as a return on capital employed of 13.1%. Read our latest view on the stock here.