Broadband and calls supplier TalkTalk (TALK) has announced the departure of CEO Dido Harding a the group posted a sharp fall in third quarter revenue. Tristia Harrison, currently the managing director of TalkTalk Consumer, has been lined up as replacement once Harding leaves in May. She will have experienced help, with group founder Charles Dunstone set to take on the role of executive chairman, as the broadband operator reported a 5.4% drop in third-quarter on-net revenue.
Dunstone, currently chairman at electricals retailer Dixons Carphone (DC.), will depart that role on 30 April, and is set to be replaced by former BT (BT.A) CEO Lord (Ian) Livingston.
Some investors may wonder how Harding survived the disastrous hacking fiasco in 2015, as Shares pointed out back then. The shares rallying more than 6% to 166.1p on today's combined news, although investors will have to decide for themselves if the trading update or Harding's departure is seen as the good news.
Overall UK markets are firm in early trade on Wednesday with the blue-chip FTSE 100 index rallying around 45 points, or 0.65%, to 7,146, responding to the 0.3% decline posted on Tuesday.
In the US, Apple (AAPL:NDQ) overnight reported its highest ever quarterly revenue, as the iPhone 7 helped it return to a growth in sales in the final three months of 2016. The world's biggest company posted net sales of $78.4bn (£62.3bn), up 3% on the same period a year ago, in its first full quarter since the iPhone 7's release.
On Wednesday, eastern European-focused budget airline Wizz Air (WIZZ) cut its full-year profit guidance on Wednesday due to low prices and disruption from severe weather that has hit some of its services. That sparks the stock into a 9% nosedive, the shares down at £16.20.
Better news from the airlines industry comes from British Airways-owner International Consolidated Airlines (IAG), which said overnight that nearly all flights will go ahead as scheduled despite strike action by cabin crew between 5 and 7 of February, with just a handful of flights expected to be merged. That news sees the stock perk up by around 1.4% to 483.2p.
Workers at BHP Billiton's (BLT) Escondida mine in Chile, the world's biggest copper mine, have voted to reject a company wage offer and go on strike, the union reportedly told news agency Reuters overnight. But that has little effect of the group's share price, up 1.6% at £14.61.
Away from company news, British house prices rose at their slowest annual rate in more than a year in January, and the prospect of weaker jobs growth and higher inflation is likely to weigh further on their prospects in 2017, mortgage lender Nationwide said on Wednesday.
There's a shock for recently listed sound insulation technology company Autins (AUTG:AIM) as its CEO suddenly walks out on the business. There's more bad news, with a major customer cutting previous orders, meaning the company will massively undershoot forecasts this year to September 2017, sparking a 32% share price slump to 150p. Autins joined AIM in August 2016 at 168p per share, valuing the business then at about £37m.
The announcement of an acquisition, fresh funding and refinancing operation by mining company Anglo Pacific (APF) sees the stock slide around 5% to 125p.
