Grey trading on the Facebook IPO price February 6, 2012 AS THE buzz continues about the Facebook public offering later this year, IG Markets is offering grey market trading on the social networking site’s market cap. The grey market allows shares to be traded on an unofficial market ahead of the IPO expected in May. When it filed with the Securities and Exchange Commission on [...]
BEST OF THE BROKERS February 15, 2012 OCADO UBS has downgraded the grocery delivery service from “buy” to “neutral” due to the stock’s recent outperformance, but raises its target price from 95p to 110p due to high peer group multiples. The broker says the business has yet to prove its credentials, and says consensus forecasts are still somewhat optimistic, especially for 2013. [...]
Delivery pioneer lacks capacity to grow December 19, 2011 EIGHTEEN months post float, and those distinctive delivery vans just aren’t looking so special anymore. Yesterday’s profit warning from chief executive Tim Steiner may have been expected at some point, but analysts clearly thought the company had some breathing room – now it’s going to be more under scrutiny than ever. And it’s not as [...]
Ocado slumps despite profit June 27, 2011 OCADO shares took a hit yesterday, falling 9.1 per cent despite the company reporting its first profit and unveiling a deal to deliver a range from French supermarket giant Carrefour. Chief executive Tim Steiner admitted the online delivery retailer had issues with capacity but said its growth plan was on track. In the six months [...]
Facebook surges in grey trade February 2, 2012 THE VALUE of Facebook hit $123bn in grey market trading yesterday, after the social networking phenomenon announced it would raise $5bn in a public offering later this year. Financial spread betting firm IG Group, which is running a grey market in Facebook, said the website had attracted an “unprecedented” level of demand. IG Index’s chief [...]
Ocado hit by broker downgrade June 23, 2011 Shares in online shopping service Ocado tumbled by more than six per cent after JPMorgan Cazenove downgraded its rating for the shares and J Sainsbury hired the group’s head of retail Jon Rudoe to run its online operation. JPMorgan downgraded its rating on the online retailer to “neutral” from “outperform”. But the broker added: “We [...]
Ocado hit by broker downgrade June 23, 2011 Shares in online shopping service Ocado tumbled by more than six per cent after JPMorgan Cazenove downgraded its rating for the shares and J Sainsbury hired the group’s head of retail Jon Rudoe to run its online operation. JPMorgan downgraded its rating on the online retailer to “neutral” from “outperform”. But the broker added: “We [...]
Ocado sees slim profit as it seals Carrefour deal June 27, 2011 Online grocery delivery company Ocado has announced a deal to sell products supplied by French supermarket giant Carrefour, while reporting a small half-year profit. Its new Carrefour range will be in addition to its Waitrose lines. In the six months to 15 May, Ocado made a pre-tax profit of £200,000, compared with a loss of [...]
London needs somebody to gamble on an IPO March 5, 2012 WITH the Edwards vacuum technology company heading for a £1bn flotation in the US and Mayfair-based jewellery retailer Graff also preferring a Hong Kong listing to braving the UK new issue markets, only one thing is certain: the London IPO market is in a pretty bad way. Bankers that I’ve been speaking to say they [...]
ANALYST VIEWS: CAN OCADO LIVE UP TO ITS EXPANSION PLANS? June 27, 2011 CLIVE BLACK | SHORE CAPITAL In its half-year update Ocado disappointed the market. With a very challenging consumer economic environment and Waitrose’s challenge to come, we believe there are few tailwinds to support Ocado’s momentum. Hence, unsurprisingly with downgrades, we remain cautious on Ocado stock. ANNA SMEE | HUNDRED The fundamental question mark above Ocado [...]