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Airbus have cut deliveries due to supply chain issues
Going in right direction lovely
Well my last move was badly timed...another top-up at 554. We'll see.
Aerospace firms struggled. Melrose lost 4.8% and Rolls-Royce fell 3.5%. The duo were the worst large-cap performers in London after a negative read across from Paris-listed Airbus.
Nothing to worry about. I expect its the ex directors selling their shares. I note that they're setting up a new company called rosebank industries . Buying , building and selling businesses again. It being floated next month. Will be one to buy.
Anyone know what's going on here?
Any reason for the big drop? Lower interest rates so funds searching for dividends?
Update positive, shares dip, top-up opportunity realised at 609..
To clarify, positive update
What's everyone's expectations tomorrow? Let's hope for bumper results...
Ftseexplorer - No, I don't think you are. I have MRO earmarked for the new upcoming ISA...
Strong results and a fabulous run by this company so I guess a little correction was to be expected.
I'm no expert in shorting but the Marshall Wace exposure can't have been good for them?!
Yesterday I considered taking a 139% gain before tax year end but this looks to have amazing cash in the next 12-18 months so expect more share buy backs and dividend increases. Am I being too greedy?!
Due to upgrade by JP Morgan.
Thanks for confusing me even more... I meant to adjust the figures at the time, but a bereavement distracted me. :-)
Ah never mind, I think I figured it out. The opening price of the Dowlais shares on 20th April was actually 146p. So Yahoo (and others) are assuming that anyone holding Melrose at the open would have received a "dividend" worth 146p (I know it's not a true dividend, but the effect is the same). They then go back and reduce the pre-split prices to reflect this amount. So, the adjusted price for 19th becomes (161*3 - 146) = ~338p.
I think I was getting confused, because I know that the "cost basis" of the Melrose shares should be split 77.9 : 22.1 based on their closing prices at EOD 20th. I was therefore assuming that the Dowlais shares would also have been issued at an initial price of 107p, which I now see is wrong.
Much clearer now, thanks all. Whew !
Ugh sorry - post got chopped. Basically, the price for 19th now shows as 338. The price for 20th shows as 413p. That implies a 22% profit, not 9%. What's going on !? I'm totally confused
Hi all. New poster here. I've recently been trying to make sense of what happened to my Melrose shares during the recent demerger event. I have a pretty of the events that occurred "in real life", but I'm having trouble mapping this onto the price charts that I see on sites like Yahoo!, Google Finance and elsewhere. Can anyone help please ?
I know that there was a 3:1 share consolidation on April 19th, followed by a demerger. The Melrose share price closed at ~162p on April 19th (I think !). By EOD 20th, it was trading at 413p. Dowlais closed at 117p. That works out to a 9% one-day profit.
So far, good. The problem is that when I look at the price history for Melrose, I see the following :
19th April : close = 338p //
Well, one could not ask for a better trading update for the four month period to end October with improving margins and an 7% uplift to the previous expectations for the YE2023. Also the first guidance for YE24 which is again ahead of expectations Viz:-
· Revenue of between £3.5 billion7 and £3.7 billion
· Aerospace adjusted operating profit between £520 million and £540 million
· Aerospace adjusted operating margin c.15%
· Aerospace adjusted EBITDA4 between £680 million and £700 million
And all this without straining the balance sheet even after the £500m share buyback programme and the ongoing spend on the GTF Engine restructuring. But the shares have had a major re-rating since the demerger in April with a rise of over 25% so the update had to be good to justify this.
No probs! Just wary of this as it feels the market has no love for it. A PM that just like Boris (now making millions) doesn't have to worry about money!
Just be careful with this, demerger was smoke and mirrors and management team are off and prob collecting millions on the way out. GKN has been a fail v their business model.
Thanks Dodger... Wasn't trying to be rude just wanted some greater insight. Uk stocks are a joke as is the country... The laughing stock of the world with a PM that pulls policies around 7 bins and meat taxes which sit at an appendix in some random document... When will the madness end
Sorry Jeff, just trying! I stopped believing in fundamentals a long time ago, its all hype and BS! Whats in fashion, whats out of fashion. The valuable management team are leaving, after an awful five years, they paid £8bn and what is the market cap of mro and dwl combined today?
Well that was helpful.... Company doing well... Doesn't mean it will tank
This is finished as we know it. A lot of value in the management team will get priced out. I expect a drop to under 400p as this becomes less and less exciting.
What's going on... God forbid we got bad results