Tullett Prebon Share Discussion Threads

[quepassa] 12/11/2015 08:24

Seems to me that ICAP have got it very, very, very right.
Icap are now a pure play electronic service.

The new Tulletts should probably be ok with massive cost-savings, redundancies and reduced competition.

But the way forward is electronic. There is a (diminshing) place for legacy voice-broking but not a growth market.

ALL IMO. DYOR.
QP

[jack jebb] 11/11/2015 21:31

Big punt on voice broking. Either ICAP or Tulletts have got it very wrong.

[topvest] 11/11/2015 21:25

Overall, must be a good move consolidating the two, stripping out costs etc. The merged entity will be a real powerhouse. Does sound slightly better for the vendor than the acquirer, but that is often the case in these sort of scenarios. Good deal overall I would say.

[hybrasil] 11/11/2015 20:19

why did this fall so much today?

[makinbuks] 11/11/2015 16:12

Why do we give away 56% when we are bigger in terms of revenue and profit?

[quepassa] 10/11/2015 11:52

All bets off whilst the deck is being reshuffled.

Time for a breather. Waiting for the new deck of cards to appear and to be counted.

ALL IMO. DYOR.
QP

[tsmith2] 09/11/2015 14:55

Not bad - £250mn savings

[tsmith2] 09/11/2015 07:29

Anyone see anything over the weekend?

[makinbuks] 06/11/2015 16:40

A merger makes a lot of sense in view of declining volumes and the current economic stagnation and low interest rate environment. Not so sure the new entity will be as attractive as an income stock. As always no guarantee of the deal completing but judging by the detail in the statement it looks pretty close.

[tsmith2] 06/11/2015 16:40

Hopefully some positive broker and media comment over the weekend

[tsmith2] 06/11/2015 15:41

360 plus finish..

[salpara111] 06/11/2015 12:47

Very bizzare price action today!
Had been waiting for the results but when it dropped rapidly at the open I chose not to buy, it would appear I was wrong!

[tsmith2] 06/11/2015 12:18

Auction...

[tsmith2] 06/11/2015 11:48

Pop coming...

[tsmith2] 06/11/2015 11:28

Blinder...

[quepassa] 06/11/2015 11:02

Fantastic move.

The cost-savings of systems and personnel by combining two traditional broking houses is phenomenal.

Spencer has been saying for a long time that there was one broking firm too many and this was on the cards.

Excellent news ( other than for all the redundancies ) and good for investors in my view who will benefit from holding shares in a significantly enlarged broking firm facing much less competition.


ALL IMO> DYOR.
QP

[blueliner] 06/11/2015 10:24

ICAP reportedly taking a significant holding with view to taking control of TLPR outright .
source Digital Look.

edit see RNS issued - other way round.

[quepassa] 06/11/2015 09:49

For the record.

Recent Broker recommendations.

Yesterday 5th.

Numis UPGRADE to BUY with TARGET PRICE of 450p


Today 6th.

NUMIS REITERATE BUY with TARGET PRICE of 430p ( marginally down from yesterday's 450p)



Numis are indicating that they see some 30% UPSIDE to current share price.


ALL IMO> DYOR.
QP

[quepassa] 06/11/2015 09:24

Figures look good to me.

Income and revenue significantly up, all-told. The oil desks are outstripping by far the slightly reduced volumes elsewhere.

Looks like the USA is on the cusp of increasing interest rates very soon.

More cost-cutting always helps the bottom line, irrespective of a one-off cost.

Doesn't seem likely to me that the dividend will be reduced. Yield now approaching 6%.

An award-winning service.

Whilst the operating margin is expected to be down, let's be clear, revenue is 9% UP over last four months compared to 2014.
And a whopping 13% HIGHER year-to-date.

ALL IMO. DYOR.
QP

[spittingbarrel] 06/11/2015 09:03

Anyone think this is an over reaction, tempted to buy in here,

[tom111] 14/10/2015 08:42

That's his word against the manager,hardly firm evidence.Im sure he must have mentioned it before when the investigation was taking place and no action was taken then.I think it would be appropriate for Tullett to make some form of statement re the share price movement

[ygor706] 13/10/2015 20:54

The evidence given yesterday at the LIBOR trial by the Tullett trader (and reported in Bloomberg Business) that he warned off his Manager from scrutinising a £35,000 payment with the comment "you don't want to know" hardly sounds like an organisation that is following proper due diligence procedures. I'm out.

[tom111] 13/10/2015 16:43

If there was a problem an announcement would have been made by now.Very low volume as well

[quepassa] 13/10/2015 10:34

Whilst Noel Cryan may be in the dock as a lone former Tulletts employee over the libor rigging scandal, my personal view, reading and interpretation is that Tulletts as a firm is not under any investigation whatsoever nor is implicated in any way.


ALL IMO. DYOR.
QP

[tom111] 10/10/2015 09:50

Written in The Mail 29th Oct 2014 "Tullett has escaped censure for libor rigging while a string of banks and brokers received hugh fines"