The Week Ahead: Mobile deal means it's all go for Globo
Monday 08 April 2013
If you are one of those people who has your mobile phone permanently attached to your hand – texting, tweeting, emailing, shopping and chatting – then one small company hopes they can tempt your employer to sign up to their software.
The mobile phone software specialist Globo sells software to make mobiles and tablets secure for confidential data. The idea is that the software saves small companies having to issue BlackBerries or approved devices to employees. With Globo's software any phone or tablet can access corporate data and files on any network.
Globo has signed a deal with US-based Ingram Micro, the largest mobile tech distributor, which will distribute its new product GO!Enterprise. Globo, which listed in 2007 and has a £135m market capitalisation, will unveil its full-year results for 2012 today, and investors will be hoping to hear more about its expansion plans and sales growth. Its broker, RBC Capital, has raised its forecasts for sales for the full year for 2013 by 38 per cent to €25m (£21m).
Results/Updates: Future, Globo, Polymetal International, Christie, DDD.
It might be tough out there but the recruiter Robert Walters is expected to reveal a positive start to 2013. Analysts at Numis think the tough time in the UK jobs market will continue to be offset by the better Asian market for the group. Steve Woolf at Numis thinks the shares are trading in-line with his target price and the "upside into recovery remains significant".
Results/Updates: Blur, Concurrent Technologies, Frenkel Topping, Good Energy, JKX Oil & Gas, Lombard Medical Technologies, Ferrexpo, Netplay TV, Nationwide Accident Repair Services, Robert Walters, Surgical Innovations, Victrex.
All this cold weather has meant those of us brave enough to hit the shops have stocked up on homewares rather than summer frocks. Analysts expect the cheap homewares retailer Dunelm to report a strong third quarter. Profit at its half-year results came in at £59.8m. Numis's Andrew Wade thinks the combination of cold weather since Christmas, particularly against a warmer period last year, and the earlier Easter, will have boosted its sales, but he expects the fourth quarter to be tougher, so he retains his hold rating for the shares with a 790p price target. Mr Wade predicts 2013 pre-tax profit of £107m.
Results/Updates: Amiad Water Systems, InternetQ, WS Atkins, Dunelm, Halfords, Vedanta Resources.
Everyone has an opinion on Marks & Spencer. The high-street bellwether has been criticised for its clothing ranges recently, and some analysts think it still hasn't got it right. Shares have been boosted by bid speculation but analysts at Espirito Santo rate them a sell ahead of the fourth-quarter results on Thursday. M&S's full-year results will come on 21 May, and Espirito has lowered its full-year pre-tax profit forecast by 3 per cent to £640m. It gives the shares a 310p price target and thinks Thursday's update – particularly for clothing – will disappoint.
Shore Capital's retail experts think M&S will have had "a horrible fourth quarter in general merchandise", with its womenswear "haemorrhaging market share for some time". They predict sales growth could be down 4 per cent. They point out that the chief executive, Marc Bolland, pictured, has taken steps to improve performance by appointing John Dixon to head general merchandising with "experienced apparel retailer Belinda Earl" on the style front. But this collection will not appear until late summer. Despite their concerns, Shore Capital rate the shares a buy with a 388p price target.
The temporary power supplier Aggreko's trading update on Friday might not look too brightafter a slow start to many of its projects. But RBC Capital Markets' analyst Andrew Brooke rates the shares a buy with a 2,100p target price.
Results/Updates: Ashmore Group, Burford Capital Elektron Technology, Evraz, Hays, Marks & Spencer, Mothercare, PZ Cussons, WH Smith, Volex.
Today Lloyds Employment Confidence Survey, Speech on Bank Stress-Testing to be given by Ben Bernanke, chairman of the Board of Governors of the US Federal Reserve .
Tomorrow British Retail Consortium sales data, Royal Institution of Chartered Surveyors house price data, Industrial and manufacturing production, Trade figures, National Institute of Economic & Social Research GDP estimate for March.
Wednesday US Crude Oil Inventories, US 10 year Bond Auction, US Federal Open Market Committee Meeting Minutes, US Federal Budget Balance.
Thursday Bloomberg April UK Economic Survey, European Central Bank Monthly Bulletin, Italian 10-year Bond Auction, US Unemployment Claims.
Friday US Retail Sales and Treasury Currency Report, Speech by Fed chairman Ben Bernanke.
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