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Latest News

CWD

Countrywide – updates “slightly better than the guidance previously provided”. BUT…

Countrywide (CWD), “the UK's largest integrated property services group, including the largest estate agency and lettings network”, has updated including “the adjusted EBITDA for the group for the six months ended 30 June 2018 was slightly better than the guidance previously provided” - and the shares have responded currently higher, back above 50p. However…

EBQ

Ebiquity – argues some visibility into faster revenue growth, so why are the shares slumping?

A half-year trading update from marketing and media consultancy, Ebiquity (EBQ) commences; “Whilst first half revenues from the Media (formerly Media Value Measurement) segment and Analytics & Tech (formerly Marketing Performance Optimization) segment grew 7% over the prior year on a like-for-like basis,”... Uh oh…

Acropolis
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Folli Follie… Some people are on the pitch, they think it’s all over….it is now! (Almost)

It seems like just yesterday that burly security guards tried to grab my camera forcing me to flee as I tried to doorstep the 1 billion Euro fraud Folli Follie at its North of Athens HQ. Since then the shares have been suspended, a criminal enquiry began, the former auditors have admitted that 2017 accounts were pure fiction and now… Folli has put itself into the Greek equivalent of Chapter 11.

Newsboy
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What Hammerson, BT Group and GlaxoSmithKline are really trying to say...

I know the summer heat is starting to get to everyone but today's regulatory and brokerage output is a little...coy on a few names I have written about in the past few months. So in the spirit of helping market transparency...here is what three large corporate names are trying to say...

WPCT
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Woodford Patient Capital Trust: The Big Short (June update - WPCT) – Um, Neil, what do we do now?

Having looked at Woodford’s Equity Income Fund earlier, I will now turn to Woodford Patient Capital Trust (WPCT) which as ever, even though the goalposts keep moving, is up against its limits and with the portfolio remaining awash with cash guzzlers, I’m struggling to understand how Neil Woodford gets out of the mess.

PZC

PZ Cussons - ignore fund manager fear and buy

It is no huge surprise that today's set of numbers from PZ Cussons (PZC) are not the finest ever seen because it told us so forty days ago as I wrote up at the time HERE. Of course the actual publication of a set of full year numbers always provides further insights and information...but it is hard to sugar coat a 15% odd fall in profits, a nudging down of overall revenues, debt pushing out a bit and the c. 4% dividend yield only held.

UKOG
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Horse Hill oil tankered out – no evidence at all that the Gatwick Gusher is an, er…gusher as David Lenigas tweets suggest

The UK Oil & Gas (UKOG) twitter feed, dutifully retweeted with added hype by David Lenigas, has so far reported three tankers leaving Horse Hill full of oil to be sent to the BP refinery. But is this proof that the Gatwick Gusher is a gusher? That is what the Bulletin Board Morons believe but they would believe almost anything. Let’s look at the tweets below and do some maths, not Leni-maths, real maths.

WPCT

Woodford Patient Capital Trust: The Big Short (June update - Equity Income Fund) – Legal & General jettisoned in bid to keep hot air balloon afloat

With the end-June portfolio listings coming out yesterday, I thought I would update with a couple of pieces looking at each of the two major funds. First up, I’ll look at the flagship fund, the Equity Income Fund, where continuing redemptions necessitate exiting one of the better stocks completely leaving a greater proportion of dross behind.

Malcolm-On-Motorcycle

How Rising Temperatures Cause Some Shares to Fall - While Others Could Scorch Ahead

Hello, Share Crashers. As the torrid conditions are set to become even hotter, we should not under-estimate the heat’s effect on our portfolios. Of course, we should not relax our attention to balance sheets, past performance and the like, but those who dismiss climatic factors are misguided.

SRT

SRT Marine Systems – full-year results admit “disappointed”, but argue ‘expects to measure up to expectations in the near future’. Hmmm…

SRT Marine Systems (SRT) has announced results for its year ended 31st March 2018, with CEO Simon Tucker emphasising, “I am very disappointed with the shortfall in our revenues for the year, which was caused by an unexpected contract change. This does not reflect the excellent operational progress the business has made with regards to product development and sales opportunities. I recognise that we are measured on the profits that SRT delivers and to that end expect SRT to measure up to expectations in the near future”. Hmmm…

Bearcast
premium content

Tom Winnifrith Bearcast: I shall make this simple - how close to insolvency is Cabot & are its ex CEO and FD insider dealers?

You have less than a week of me berating you but as we celebrate Optibiotix (OPTI) reaching 100p ( twice) today I ask you to spare a tenner for a great cause. We are more than 80% of the way to hitting our £20,000 walk for Woodlarks target so ahead of 32 miles of pain for myself, Brokerman Dan & Lucian Miers please donate HERE. Elsewhere I look at IQE (IQE), Frontera (FRR), SalvarX (SALV), Pantheon Resources (PANR), Golden Prospect Precious Metals (GPPM) and finally what may be a major scandal at Cabot Energy (CAB).

TUNG

Tungsten Corp – full-year results argue “pleased to report on the progress made”, but balance sheet crunch ahoy?

Tungsten Corp (TUNG) is “pleased to report on the progress made in the delivery of our strategic plan and the next phase in the development of Tungsten Network”, with it stating the first two “Financial Highlights” for its year ended 30th April 2018; “Revenue increased 8% to £33.7 million (FY17: £31.3 million); up 9% at constant exchange rates… EBITDA loss decreased to £4.6 million, a £7.2 million improvement from prior year”. Hmmm…

IQE
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WinSemi - disastrous earnings report - surely this is very bad news for IQE?

Win Semi is the world's largest GaAs chip foundry and are central to the 3D sensing supply chain.  Below you can see the first page of a broker report that came out on Friday which describes its quarterlies as "disastrous".  So what? aay the IQE (IQE) bulls.

Highwayman

You’ve never had it so bad – The Government’s tax grab hits level not seen since 1969

More money for the NHS promises wretched Theresa May, citing a bogus Brexit dividend then ‘fessing up that taxes will have to go up too. And now it seems that bone idle and overpaid teachers are going to get even more money too.  But it is not as if taxes are, whatever dumb snowflakes and dumber politicians claim, too low. Au contraire.

OPTI
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More Adam Reynolds humble pie for Cynical Bear as Optibiotix hits 100p & more to come – where’s my ouzo?

First there was his flip flop On Sosandar (SOS) when he ‘fessed that his bearishness was an error. Now Cynical Bear’s much repeated claim in his seven things that won’t happen series, that Optibiotix (OPTI) would not hit 100p is in tatters too as the shares have this morning touched that level. Time for another volte face? And more importantly…

ESC

Escape Hunt – argues “good financial performance”… but why also included “relative to the number of games rooms opened”?

A trading update from ‘escape the room’ experiences company Escape Hunt (ESC) includes “exceptional customer reviews for the three sites opened earlier this year are translating into good financial performance thus far with revenue and EBITDA contribution, relative to the number of games rooms opened, having met our expectations”. A current 114.5p share price though compares to a 135p placing price when joining AIM in May 2017…

Timebomb

The “everything bubble” has put the previous two bubbles to shame

With government, corporate and consumer debt levels at all-time highs, a financial collapse is inevitable. Hundreds of billions of student loan, auto loan, mortgage loans, and credit card debt are unpayable, especially in a rising rate environment. The “everything bubble” has put the previous two bubbles to shame. The thing about bubbles is they always pop. An unsustainable dynamic will not be sustained. The reversion to the mean will leave millions around the globe enraged, and looking for someone to blame other than themselves.

TPOP
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I have to wonder why any sane person would invest in The People's Operator

A couple of months back I wrote an article HERE suggesting that investors steer well clear of failing AIM company The People’s Operator (TPOP), and there have been a number of developments since then.

QUIZ

From Catwalk to Factory and On Sale Fast. That Could Be a Good Way to Sew In Share Value

Hello Share Fans. This family attends our usual pub quiz this week. This is purely because of the music round. This consists of the host playing a squeeze box and a kazoo badly. We're required to 'guess that tune.' Which is only loosely connected to today's subject for your further consideration.

Bearcast
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Tom Winnifrith Bearcast- is this ex Jim Mellon stock the biggest joke valuation going?

Ok, I am back from a 22-24 mile walk which I shall write up tomorrow but if you could smell my feet? I know many of you hav e donated to Woodlarks ahead of next Saturday's 32 mile stroll by myself, Brokerman Dan and Lucian Miers and we have now raised £14,267.88 but to those who have not donated, PLEASE DO SO NOW HERE. In today's podcast I discuss the CBI talking Brexit shite again - it does NOT speak for British industry. I remind you we have no house view, ref Sosandar (SOS). I raise two questions arising out of a Saturday lunch Joshua and I had with Highland Natural Resources (HNR), notably who will back my new goat lending business. And I look at an ex Mellon stock, Okyo Pharma (OKYO), its valuation is a 100% rum and coke and I explain why.

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Cat_Fixing_Lightbulb

Bearcast issue update: all should be well

 

ORCP

Oracle Power: Cynical Foul

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