PROFIT WARNING Read more
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For a company that does half its business in the euro area, one could reasonably expect Logica to be fully conversant with the ongoing sovereign debt crisis.
If CSR, the maker of Bluetooth chips, was looking for an excuse to revise or (possibly) ditch its unpopular £418m all-share acquisition of Zoran, it has just been handed one.
Like a moth to a flame, the UK software sector seems to attract its fair share of flaky companies.
Over the past decade there have been several spectacular blow-ups, most notably iSoft, the company charged with creating a patient records system for the NHS, Torex Retail, where two executives were recently convicted of defrauding shareholders, Cedar Group, AIT, Adamind. The list goes on and on. Read more
Where to begin with Wednesday’s car crash statement from business process outsourcer (whatever that means – Ed.) Xchanging?
The profit warning? The massive goodwill write down? The two ‘one-off’ hits to the P&L account? The departure of the CEO? The scrapped dividend? Or the market reaction? Read more
Shares in the software company were down again on Tuesday in London. In fact, they were the biggest faller in the FTSE 100 at pixel time:
Special Friday afternoon delivery from Lloyds Banking Group (our emphasis).
And the market says …