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Movers & Shakers - 13 November 2018

The below stocks have been identified as having potential to register bigger than normal share price moves (up or down) today based on the news cited

Vodafone Q2 organic service revenues +0.5% beats consensus -0.6% (Q1 revised up to +1.1% from +0.3%). FY19 underlying organic adj. EBITDA growth narrowed to 3% (from 1-5%); Free cash flow now seen €5.4B (from “at least €5.2B). Interim div flat at 4.84c; Creating virtual internal tower company across European operations, reviewing best strategic and financial direction for these assets. To lower European Net Operating Expenses by >€1.2B by FY2021.

Taylor Wimpey order book +9.1% (upper end of expectations), sales rate firm, underlying prices in-line with H1, on track for FY expectations. Reiterate 2019 dividend target of +20%. “Mindful of wider political and economic risks, and potential impact on customer confidence”. Expect 2019 volumes broadly flat, with potential for significant growth from 2020

Melrose Q3 trading in-line, with strong revenue in Aerospace (+6%) and Powder Metallurgy (+9%), but Automotive flat with lower margin. Nortek sales flat after US tariffs impact, but effect confined. On track for FY objectives in all divisions and confident in GKN improvements.

IQE confirms, following announcement by major chip company in VCSEL supply chain, that chip company received notice from one of largest customers for 3D sensing laser diodes that they would  materially reduce shipments for current quarter. Cuts FY revenues and profits guidance.

Land Securities H1 revenue +10.3% YoY, pre-tax profit +23.5%, dividend +14.7%, EPRA NAV -1.4% due to negative retail sentiment; valuation deficit falls to £188m from £19m. Sees steady occupational demand and move to quality, but second-hand demand below average.

DCC H1 revenue +24.7% YoY (+15.4% ex-LPG/Retail/Oil), pre-tax profit +17.2%, dividend +10%, Op. cash flow +206%, adj. net debt +211% (due to record M&A). FY profits guidance reiterated.

(Sources: Company newswires, Bloomberg, CNBC, FT, Reuters, Wall Street Journal)


 

For more information on any of these individual news items, call into the trading floor

Prior day's Movers & Shakers:

Stock Code Close High Low
RIO TINTO RIO -2.4% 0.9% -2.4%
SHIRE SHP 2.2% 3.9% 1.4%
BRITISH AMERICAN TOBACCO BATS -12.1% -8.9% -12.5%
IMPERIAL BRANDS IMB -0.1% 0.2% -3.0%
ASTRAZENECA AZN 2.6% 3.9% 2.4%
BP BP/ -0.2% 1.9% -0.2%
ROYAL DUTCH SHELL B RDSB 0.6% 2.6% 0.6%
RESTAURANT GROUP RTN -5.9% -0.8% -12.2%
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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

Prepared by Michael van Dulken, Head of Research
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