There’s a corporate finance wheeze known as a “cashbox”. It’s a way of getting around certain rules, regulations and conventions associated with being a London-listed stock.
NOTE — see the update at the bottom of this post, along with the comments. Read more
Presented without comment.
The price action in Webvan 2.0 Ocado on Monday morning following a warning of lower than expected underlying profits because of further capacity problems at its state of the art warehouse in Hertfordshire. Read more
Sadly, the London Stock Exchange’s plan to fix the broken UK IPO market is unlikely to work for the simple reason that it doesn’t really believe there’s a problem. Read more
Anything Lord Wolfson can do…
LONDON, Oct 19 (Reuters) – A leading British businessman is offering a 250,000 pound ($390,000) reward for economists who can come up with the best plan for countries to quit the European single currency zone. Read more
Following Monday’s disappointing trading update, Ocado chairman Michael Grade waded into the market and bought stock.
More bad news for our favourite internet grocer – that’s Webvan2.0 Ocado in case you hadn’t already guessed.
Tesco is about to start a price war. Read more
No wonder analysts have been slashing forecasts. Monday’s trading update from the internet grocer — or Waitrose distribution arm as it is also known — reveals there has been no improvement in sales in the last quarter.
For the 12 weeks to August 7, sales growth was 16.9 per cent, the same as the preceding 12 week period and lower than the year-to-date run rate of 19.5 per cent. Read more
And now for something a little lighter than all this sovereign debt, bank funding stuff.
It’s Webvan 2.0, or Ocado as its sometimes know. Read more
What goes up…
The first cracks in the Webavan 2.0 investment case or something altogether less sinister?
From Ocado’s unscheduled trading statement on Wednesday: Read more
Breaking pre-market news on Wednesday,
- HSBC launches $2.5-$3.5bn cost cutting programme; to review US retail operations — statement and presentation. Read more
This is Michael Grade. 
FT Alphaville readers probably know him best as the chairman of Webvan 2.0 Ocado but he’s also chairman of Pinewood Shepperton, the film studio owner that revealed a takeover approach on Friday. Read more
Here’s a surprise. Goldman Sachs has responded to the sharp fall in the Ocado share price with an upgrade.
We upgrade Ocado to Buy (from Neutral). The stock has declined c.20% in the past month, offering an attractive entry point. Our unchanged 6-month price target of 304p now implies 51% upside potential, above the median for our Small and Mid Cap coverage of 23%. Hence, we upgrade to Buy. We retain our view that Ocado’s differentiated business model (proprietary centralized, semi-automated distribution and delivery network) results in a superior customer offering relative to other UK online grocers (e.g. more flexible delivery slots, higher order accuracy), hence, the company is well placed to deliver strong growth. Read more
What’s that smell in the air?
Of course, it’s the unmistakeable stench of burnt fingers wafting across the City of London, from those investors who were foolhardy enough to buy the 10 per cent stake John Lewis sold in Ocado just two weeks ago. Read more
If you thought Alphaville wouldn’t be watching the RNS feed at 6.30pm on Friday night Mr Steiner, CEO of Ocado, you were sadly mistaken.
We were and spotted your sneaky sale of 2m shares. Read more
Related link:
John Lewis pensions trust sells remaining stake – RNS Read more
That’s right, at pixel time shares in the loss-making UK internet grocer Ocado were changing hands for 242p, giving it a market value of a cool £1.2bn. Read more
No, not birds falling out of the sky in Louisiana, but this…
… the recent share price performance of Webvan 2.0. Read more
What’s your description of a successful IPO?
Is it one where three quarters of the stock ended up in the hands of retail investors at the bottom end of a lowered price range? Read more
Now here’s an online-based IPO that sane investors could actually consider backing.
From RNS on Tuesday morning: Read more
Er, is that it?
Anyone expecting Tuesday’s trading statement from Ocado – its first as a listed company – to trigger a big short squeeze is going to be disappointed. Read more
Older entries
1Time to take basic income seriously?
2We cannae give the economy no more, we're giv'n it all we've got Captain
3The case for official e-money +1
4On what really is different this time around
5Hacking and property prices make the BoE big league
Show more6Tax needn't be taxing. It can also be a Hungarian debt wheeze
7"Companies should know who really owns them..."
8The central bank (communications) bubble
9When liquidity meets control in China [updated with credit crunch probability]
10The end of the end of the end of the commodities supercycle is nigh, in Asia
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