I've emailed Tommy Cook & Ashleigh Greenan (guessing at their email addresses)asking :
- Why did the announcement come out at 15.17, rather than 07.00
- Why didn't they include updated estimates as these were clearly available if a broker note appeared before 4pm
I'll let you know if there's a reply........ |
Also the business development VP selling shares |
The marker last Wednesday with Spirents profit warning, it was a direct read across. |
Such catastrophic timing is a proof of panic to probably correct their recent update. This means the market and PI's will never believe any news coming out from them in the future until they see it in flesh and bones. |
I can't believe their adviser's would have suggested such timing. Unbelievable. Either underhand, stupid or both |
"revenues for FY24 will be in the region of 20-30 per cent below current market expectations, depending on the timing of orders." Dropped 30% as per revenues drop. Difficult to anticipate when the drop settles as their previous update was bullish. So there will be caution in getting in until after the results and even then 2025 is far away. Easy to see the share price back to 50p level i the next few months. |
Sly sneaking an update at 1517 |
It was flagged via Spirent's recent news. |
CLX could threaten initial listing price. Ex-holding and one for the watchlist - market conditions are poor but feel it is a good company. |
Hmmm, wonderful timing by that director sale was it not. |
Broker note out after that fairly obvious profit warning does not read well. Now forecasting only £17m revenue £0.1m adjusted profit before tax. What a downgrade |
Post #802 - don't be so utterly ridiculous. You clearly know nothing about this company or its finances! |
Director dumping 100k worth of shares |
Going bust |
Does anyone know what FY24 Market expectations are please?
CLX is a great company operating in a very difficult telco-macro environment. Question is how low is it going to go, and how greedy you want to be? |
Too much hesitation for 5G everywhere. Telecom suffering global possible recession. |
Spirent effect |
 AGM Statement
Calnex Solutions provides an update on trading ahead of its AGM taking place at 9am today.
While customers continue to adopt a cautious approach to investment decisions, engagement levels remain high and there are signs of optimism with regard to the pipeline for H2 FY24, although the precise timing of orders remains unclear. Indicators across the wider industry also point to a cautiously improving outlook. The Board remains confident in the delivery of results for the year in line with current market expectations. Calnex continues to focus on expanding its business footprint, through both application focused promotions of existing products, as well as new product innovation. The Company's ability to source the components continues to improve and, whilst not yet resolved, the financial performance of the Company in FY24 is not expected to be impacted by procurement issues.
The Board remains confident that the market's structural growth drivers will continue to drive long-term growth opportunities for Calnex. These include the need to build out new mobile networks to support the transition to 5G, and ongoing data centre investment to support the demand for cloud computing and advancements in Artificial Intelligence and Virtual Reality technologies, coupled with the need to be more energy efficient. The breadth of the Company's customer base across multiple regions, and the Group's expanding product portfolio and strong balance sheet, mean the Board looks to the future with continued confidence. |
Added again today - the trend is positive with the shareprice up circa 40% over the past 3 months. |
Mg, similar for me, taking encouragement from the recent Spirent TU. |
I previously took some good profits by cutting my position by 70% between 170p - 160p during Q1. This morning I added for the first time since then. |
lo and behold:
Fund manager Nick Train has said that UK equities are “abysmally” out of favour with investors and could remain “frustratingly cheap for a very long time”.
Train, who is one of the UK’s best-known fund managers and runs the £4.4bn Lindsell Train UK Equity fund, said that UK valuations far below other developed markets did not necessarily make it a good time to scoop up bargains.
“I am cautious because I know that one person’s ostensibly low valuation is another’s moribund value trap. In other words, markets can stay frustratingly cheap for a very long time,” he said.
The FTSE All-Share index trades at 10 times earnings, according to Bloomberg, compared with the S&P 500 at 22 times earnings, the largest gap on record according to Train. The S&P 500 returned 11 per cent in the first half of the year in sterling terms, compared with 2.6 per cent for the FTSE All-Share.
Train’s comments come as UK policymakers attempt to boost the attractiveness of the City of London, which has been struggling with a dearth of initial public offerings. Cambridge-based chipmaker Arm in March chose New York for its upcoming listing, in a big blow to the London market.
Nick Train says there are opportunities to snap up ‘wonderful companies that are wrongly priced’
Train said that the UK’s lack of big technology companies was one of the reasons the market continued to trade at a low valuation, although he also pointed to the decline in domestic pension funds investing in London-listed shares.
Richard Buxton, UK fund manager at Jupiter, said the composition of the UK index, in which older industries such as oil and gas have a high weighting, meant it would “always likely trade at cheaper valuations than other markets”. “The discount across other sectors has widened in recent years as Brexit has damaged the economy and its prospects,” he added. “Our trend growth rate is materially lower than it was 30 years ago. For a number of years now, there has been and remains political instability and uncertainty.”
Henry Dixon, UK fund manager at Man GLG, said the UK stock market was shrinking partly because of share buybacks and mergers. “You could argue the UK is a finite asset with less than 10 years to live,” he said last week at a conference hosted by Morningstar. “If I presented those demand dynamics and those supply dynamics about copper, we’d be talking about copper prices doubling. But we never talk about UK equities doubling.”
Train, who invests in the London Stock Exchange Group, said that the negative sentiment meant there were opportunities to snap up “wonderful companies that are wrongly priced”, citing cloud-software provider Sage as an example. |
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