RSS feedpremier foods
’Snap news
Breaking pre-market news on Tuesday,
- RBS sells RBS Aviation Capital – statement.
- Dixons underlying like-for-like sales down 5 per cent – statement.
- Premier Foods ramps up cost-cutting plans,
Snap news
Breaking pre-market news on Friday,
- Premier Foods finance director to leave in the middle of a delicate refinancing negotiation – statement.
- Blacks Leisure issues yet another profits warning;
Snap news
Breaking pre-market news on Monday,
- Ryanair raises full year guidance by 10 per cent — statement and presentation.
- Lenders to Premier Foods agree to defer upcoming covenant test; refinancing talks continue — statement.
Premier Foods is worth less than nothing
Here’s something you don’t see everyday – a negative share price target.
Now, Exane analyst Jeff Stent readily acknowledges negative equity value is an academic concept, for no stock is worth less than zero.
Is Premier Foods brown bread?
You can say lots of things about Premier Foods (and we have – Ed) but the company is nothing if not consistent. The maker of Hovis bread and Mr Kippling cakes just keeps churning out the profit warnings.
Snap news
Breaking pre-market news on Friday,
- RBS says it is among the strongest capitalised banks in Europe — report.
- Moody’s downgrades 12 UK financial institutions; two notch cut for RBS — statement.
Snap news
Breaking pre-market news on Friday,
- RBS takes £733m hit on Greek government bonds; Ulster Bank impairment charge £1.25bn — statement.
- Allianz takes €326m hit on Greek debt — statement.
- Hunting to acquire Titan Groupfor £475m;
Snap news
Breaking pre-market news on Thursday,
- UBS to axe 5,000 jobs – report.
- Yell announces new strategy (to provide a broad range of digital services to SMEs) — statement.
- Premier Foods appoints Kraft executive as new CEO — statement.
Old demons return to haunt Premier Foods [updated]
Once toxic, always toxic.
That’s the price action in Premier Foods after Thursday’s shock profits warning, which has effectively killed off any hopes of a turnaround at the heavily indebted maker of Hovis bread,
Snap news
Breaking pre-market news on Friday,
- Biomet and Smith & Nephew set for talks over £15bn merger – report.
- Fresnillo expects silver production to rise 5 per cent in 2011 — statement.
- F&C Asset Management announces cost cutting plan — statement.
Snap news
Breaking pre-market news on Friday,
- Rio Tinto extends Channar joint venture with Sinosteel; forms new JV with Chinalco for Chinese exploration — statement and statement.
- Premier Foods says Quorn sale talks at ‘an advanced stage with two parties’ — statement.
Fresh horrors from the corporate finance lab
This is Jim Smart, the finance director of Premier Foods. He’s the lucky man charged with clearing up the mess from the group’s acquisition spree in the mid noughties, which turned a simple food producer into a corporate Frankstein — made up of companies bolted together through large debt infusions.
Snap news
Breaking pre-market news on Tuesday,
- Autonomy announces results two days ahead of schedule; says there has been no softening of demand — statement.
- Mike Ashley’s Sports Direct says SFO not to bring charges against company in JJB case — statement.
Snap news
Breaking, pre-market news on Monday,
- Sanofi launches $18,5bn Genzyme bid – AP.
- Switzerland says UBS, Credit Suisse Group must hold almost double the capital required under Basel III – Bloomberg.
Snap news
Breaking pre-market news on Wednesday,
- Lloyds posts £1.6bn profit in first half, impairments at £6.55bn – statement.
- RBS sells UK branches to Santander for £1.65bn — statement and statement.
Snap news
Breaking pre-market news on Thursday,
- Xstrata says it has no intention of making an offer for Anglo American – statement.
- Anheuser-Busch InBev agrees to sell central European operations to CVC for $2.2bn – statement.
Markets live transcript 22 Dec 2006
Markets live chat transcript for the chat ending at 11:56 on 22 Dec 2006. Participants in this chat were: Helen Thomas (HT) Neil Hume (NH)
HT: Good morning – welcome ot the last Markets Live of 2006!!
HT: