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Cobham cuts profit guidance as satellite and wireless lag

Mon, 24th Oct 2016 07:29

(ShareCast News) - Softer conditions in the wireless and satellite communications (satcom) markets have led Cobham to issue a profit warning.Although management expects an improvement in the fourth quarter, it said the overall full year outcome was likely to be below its initial estimates and cut its trading profit guidance to £255-275m, which includes favourable currency impacts. Cobham said demand for maritime satcom products "continued to be subdued" and that the new management team in wireless was making "good progress" but at a slower pace than expected, with some revenue being deferred and higher costs. There were also some extra costs and deferred revenue in the Integrated Electronic Solutions unit, which have stemmed from previously reported technical issues on a small number of space related development programmes. "However, these have largely been resolved in the third quarter," the company said.With chief executive Bob Murphy having stepped down in August, the FTSE 250 company, which brought its trading statement forward from Wednesday due to the disappointing news, assured that new CEO David Lockwood would have his feet under the desk "no later than 1 January", with the same said for new finance chief David Mellors.-- More to follow --
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Friday broker round-up

(ShareCast News) - Coca-Cola Hbc: HSBC upgrades to neutral with a target price of 1423p. Petrofac: Citigroup downgrades to neutral. Redefine International: JP Morgan upgrades to neutral with a target price of 50p. William Hill: UBS downgrades to sell with a target price of 365p. Euromoney Interna

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4 Mar 2016 15:52

Friday newspaper share tips: Cobham, Carillion

(ShareCast News) - An earnings miss in volatile market conditions is a sure recipe to send your stock price tanking. On 5 November, aerospace and defence engineering group Cobham told shareholders they could expect full-year earnings per share of between 20.1p and 21.7p. In the event, the company d

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4 Mar 2016 11:18

BUZZ-Cobham: JP Morgan cuts rating to "neutral" after results

** Shares in engineering firm Cobham down 2.9 pct, second-largest FTSE mid-250 losers, after JP Morgan cuts rating on co to "neutral" from "buy", PT to 255p from 305p ** RBC, Societe Generale, Barclays all cut PTs, keep rating of "hold" or equivalent, Deutsche cuts PT and reiterates "sell"<

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4 Mar 2016 10:51

WINNERS & LOSERS SUMMARY: UBS Ratings Hurt Cineworld And William Hill

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4 Mar 2016 09:32

BROKER RATINGS SUMMARY: UBS Double Downgrades William Hill To Sell

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4 Mar 2016 09:06

JPMorgan downgrades Cobham after results

(ShareCast News) - JPMorgan Cazenove downgraded aerospace and defence group Cobham to 'neutral' from 'overweight' and cut the price target to 255p from 305p following the company's full year results on Thursday. It noted Cobham's 2015 earnings per share were around 4% below the bank's and Bloomberg'

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4 Mar 2016 08:42

LONDON MARKET OPEN: WPP And Miners Lead Gains Ahead Of US Jobs

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4 Mar 2016 08:15

LONDON BRIEFING: WPP Joins Miners In Leading Gains Despite Caution

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3 Mar 2016 17:03

LONDON MARKET CLOSE: Mixed Trade As Admiral Gains But Whitbread Falls

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3 Mar 2016 12:20

LONDON MARKET MIDDAY: Admiral And CRH Join Miners To Lead Rebound

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3 Mar 2016 10:53

Cobham tumbles as it swings to full year loss

(ShareCast News) - Cobham shares slid on Thursday after the aerospace and defence group said it swung to a loss in 2015 and sounded a cautious note on the current year. For the year to the end of December, Cobham posted a pre-tax loss of £40m compared with a £24m in 2014, despite revenue rising to £

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3 Mar 2016 10:41

WINNERS & LOSERS SUMMARY: "Year Of Uncut Diamond" Gives Admiral Shine

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3 Mar 2016 08:43

BUZZ-Cobham: worst day in 3 yrs on missed guidance, outlook

** Engineering firm Cobham's shares down 7.6 pct, second-largest loser on the Stoxx 600, after missing earnings expectations ** Co reports FY EPS of 19.5 pence, warned in Nov that EPS would be at the bottom end of 20.1-21.7 pence range that analysts expected ** Co sees 2016 stable tra

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3 Mar 2016 08:38

LONDON MARKET OPEN: Inmarsat, Whitbread Fall As Stocks Continue Slide

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3 Mar 2016 07:53

Cobham Ups Dividend After Robust Performance, But Swings To Loss

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