Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Revolution Beauty confirms Frasers performing due diligence
A quiet start to the week in terms of company news but Revolution Beauty LON:REVB has confirmed media speculation noting that Frasers Group LON:FRAS is one of several parties currently conducting due diligence on the business as part of the recently announced formal sales process. As is routine, the note adds that there can be no certainty this will lead to a firm offer.
2. FY revenue forecasts from Cordel
Cordel LON:CRDL, the AI platform for transport corridor analytics issued a trading update this morning. Management have reviewed the timing of near-term contract wins and now expects to report full year revenues up 12% over the comparative, noting excellent strategic progress whilst acknowledging that economic uncertainty, especially in the US, has been dragging on the sales cycle.
3. Alphawave agrees final takeover terms with Qualcomm
Another company set to disappear from the London market with news that Qualcomm [NasdaqQS:QCOM] is to buy out Alphawave LON:AWE in an all cash offer worth $2.48 per share. The deal was originally mooted at the start of April, with takeover deadlines having been extended a couple of times. The stock was however trading at 149p on Friday night, so whilst a bounce seems inevitable at the open, it’s worth bearing in mind that the offer reflects a close on 100% premium of the unaffected date.
