GlaxoSmithKline
Good news for GlaxoSmithKline investors this morning as the company has announced positive results in a new drug test. This is a two-drug combination to control HIV, rather than the existing three-drug option. Although HIV treatments are already well established, the combination of drugs that are having to be taken each day is seen as problematic, hence the desire to cut that number.
Rolls Royce
The company best known for its aircraft engines – and not to be confused with the luxury car maker of the same name – Rolls Royce, has had a torrid time of late. From corruption allegations to problems with new aircraft engines, the share price is down by around one third over the last five years. That’s all happening in a rising market, too, so will today’s latest notice of restructuring be sufficient to draw a line under the corporate woes? The business is to become leaner and £400m worth of annual cost savings will be recognised by the end of 2020. It’s coming at a cost, though – 4,600 jobs mostly in the UK – will be lost.
N. Brown Group
We have another slug of retail news out this morning from N. Brown. The company is an online, specialist fit clothing retailer, so sits behind brands like Jacamo and Simply Be. It’s been something of a mixed bag for the business with the ‘power brands’ doing well, but it’s not looking as good for the so-called secondary brands. Interestingly, 75% of their online shopping is now done over mobile devices so they’re certainly embracing this channel. Against a tough set of comparatives, investors might just be willing to wave this one through.
