A few interesting things going on today:
Interims
ARM Holdings (LON:ARM) +7.1% Q1 results have obviously excited the market. RS6m (Rel Str 6 months) is 36%. PE of 54 makes it “a bit heady” in valuation terms, and it seems to be touching a decade-high rating. Revenues were up 28%. Not shabby at all. “ARM has made an encouraging start to 2013 with more leading companies choosing to deploy ARM technology in their products and we therefore expect group revenues for the full-year 2013 to be at least in line with current market expectations. “
888 Holdings (LON:888) +0.1% 2013Q1 KPIs are out today. Group revenues up 9% yoy. Poker is doing well, and is up 15% yoy, accounting for about 23% of revenue. Shall be interesting to see how this plays out with the American gambling angle. CEO comments: “These are a fantastic set of results across all key metrics. Our excellent product offering, supported by our constantly innovative marketing and CRM capabilities, has helped us to deliver consistent growth and has positioned us well to take advantage of positive regulatory developments.” RS6m is 40%, although the market is greeting the results with a bit of a yawn.
Finals
Snoozebox Holdings (LON:ZZZ) -6.1% What a mess! Results were due out today, but the company did notify the market yesterday that results would be delayed. 26 April seems to be the new target for reporting results. There’s a problem with the recognition of income under IFRS, with a mention of “material shortfall”. ZZZ certainly confirms the stockmarket adage “bad news takes longer to compile than good news”. I note that only a few days ago, on 18-Apr-2013, ZZZ announced a contract win, sending the price shooting up above 68p. It has since crashed down to 53.5p. What a total farce. I hope that not many people were caught out by this. Who’s going to trust management now? What is very interesting is that the share price is down 8.1% YTD, despite the ASX being up 7.6%, and with growth shares doing very well so far this year. It’s almost as if the market knew that to expect the worst.
Trading statements
Premier Foods (LON:PFD) +2.1% Over-indebted food producer of Mr Kipling (he…
