Editor’s Note: Related tickers: Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc (NYSE:C), Severn Trent Plc (LON:SVT), United Utilities Group PLC (LON:UU), Rolls-Royce Holding PLC (LON:RR), Smiths Group plc (LON:SMIN), Shire PLC (LON:SHP), Pennon Group plc (LON:PNN), Anglo American plc (LON:AAL), Vedanta Resources plc (LON:VED)
Severn Trent Surges After Consortium Approach (FoxBusiness)
Severn Trent Plc (LON:SVT)‘s board said that Canada-based investment fund Borealis Infrastructure Management Inc., The Kuwait Investment Office, the London branch that manages funds on behalf of the state of Kuwait, and U.K.-based pension fund Universities Superannuation Scheme Ltd. have teamed together to make an approach for the water utility. It cautioned that the approach may not lead to a formal bid. In accordance with U.K. takeover rules, the consortium has to announce a firm intention to make a bid by June 11, Severn Trent said. Severn Trent Plc (LON:SVT)’s shares vaulted 18% higher in early trading, after the company disclosed the approach.
U.K. Stocks Little Changed Near 2007 High; Severn Trent Rallies (BusinessWeek)
U.K. stocks were little changed near their highest level in more than 5 1/2 years as retreating metal producers offset a rally by utility companies. Severn Trent Plc (LON:SVT) soared 15 percent after the company confirmed that a consortium of infrastructure investors has approached it about a possible takeover. Rivals Pennon Group plc (LON:PNN) and United Utilities Group PLC (LON:UU) both advanced more than 3 percent. Anglo American plc (LON:AAL) and Vedanta Resources plc (LON:VED) both lost more than 1.5 percent.
Why Severn Trent Plc, Babcock International Group PLC and ICAP plc Should Beat The FTSE 100 Today (Fool)
The FTSE 100 started the day well by setting yet another new five-and-a-half-year high, of 6,649 points, before settling back a little — at the time of writing it stands three points down on the day, at 6,628. The big early driver today was the takeover-led surge in Severn Trent Plc (LON:SVT) shares, but the big miners are once again falling and dragging the index back. …Shares in Severn Trent Plc (LON:SVT) soared by 276p (15%) to 2,101p this morning, after the provider of water and waste treatment confirmed rumours that it is the target of a takeover bid. Confirming recent press speculation, Severn Trent Plc (LON:SVT) revealed that it has been approached by a consortium, comprising Borealis Infrastructure Management, the Kuwait Investment Office, and Universities Superannuation Scheme, which “may or may not” lead to an offer being made.
United Utilities Group Given Neutral Rating at Citigroup (UU) (DailyPolitical)
United Utilities Group PLC (LON:UU)‘s stock had its “neutral” rating reaffirmed by Citigroup Inc (NYSE:C) in a research note issued on Monday, AnalystRatings.Net reports. They currently have a GBX 650 ($9.97) price target on the stock. A number of other analysts have also recently weighed in on UU. Analysts at JPMorgan Chase & Co. (NYSE:JPM) Cazenove reiterated a “neutral” rating on shares of United Utilities Group PLC (LON:UU) in a research note to investors on Thursday. They now have a GBX 720 ($11.04) price target on the stock. Separately, analysts at Goldman Sachs Group, Inc. (NYSE:GS) reiterated a “neutral” rating on shares of United Utilities Group PLC (LON:UU) in a research note to investors on Tuesday, April 30th.
United Utilities Group PLC : Carlisle tap water: New and improved (4-Traders)
Carlisle’s tap water just got better – thanks to a £1.5 million upgrade to the local water treatment works. New filtering technology has been installed at United Utilities Group PLC (LON:UU)’ plant in Cumwhinton to make sure the 110,000 people who rely on it for their drinking water continue to get a great tasting cuppa. The technology uses ‘activated’ carbon to remove even more of the impurities which make water more difficult to treat. The scheme is part of United Utilities Group PLC (LON:UU)’ record-breaking £3.5 billion investment programme for the north west, which is part-funded by customers’ bills.
Rolls-Royce Holdings Given “Overweight” Rating at JPMorgan Chase (RR) (Zolmax)
Rolls-Royce Holding PLC (LON:RR)‘s stock had its “overweight” rating reaffirmed by research analysts at JPMorgan Chase & Co. (NYSE:JPM) in a report released on Monday, Stock Ratings Network.com reports. They currently have a GBX 1,420 ($21.78) target price on the stock. Shares of Rolls-Royce Holding PLC (LON:RR) opened at 1182.00 on Monday. Rolls-Royce Holding PLC (LON:RR) has a 52 week low of GBX 493.098 and a 52 week high of GBX 1176.00. The stock’s 50-day moving average is currently GBX 849.5. The company’s market cap is £22.129 billion. A number of other firms have also recently commented on RR. Analysts at Jefferies Group reiterated a “buy” rating on shares of Rolls-Royce Holding PLC (LON:RR) in a research note to investors on Thursday, May 2nd.
Airbus offers sneak preview of new A350 (Yahoo)
French aerospace giant Airbus (Paris: NL0000235190 – news) offered a sneak preview of its latest long-haul carrier, the A350, on Monday, rolling out a first model in front of hundreds of staff at its assembly plant in south-western France. …In a statement, the company said the Trent XWB engines from Rolls-Royce Holding PLC (LON:RR) were assembled at the end of March and that “a series of vibration tests” have been carried out.
John Crane Moves Headquarters to Downtown Chicago (4-Traders)
Duncan Gillis, President and CEO of John Crane said: “Downtown Chicago is a perfect fit for us to expand our corporate headquarters and recruit professional talent. It is a diverse and vibrant city attractive to our employees and also our global customers visiting who will have access to our headquarters and nearby North America manufacturing and service center.” The company, part of global technology business Smiths Group plc (LON:SMIN), employs more than 7,000 people and supplies critical components such as mechanical seals, couplings and bearings, used by energy services customers across oil & gas, power generation, and other major processing industries. John Crane’s 2012 revenues were more than $1.5 billion.
Agency Delays $765 Million in Spending for U.S. Veterans’ Care (BusinessWeek)
The U.S. Department of Veterans Affairs postponed purchases of cardiac monitors, radiological equipment and pain-medication pumps for patients last year. It didn’t replace old surgical tools, oxygen-delivery systems or deteriorating operating-room stretchers. …A VA office in New York, for example, delayed $79,200 in orders for London-based Smiths Group plc (LON:SMIN)’s infusion pumps, used to deliver pain medication for patients, according to the records.
Shire’s Strong-Buy Rating Reaffirmed at Goldman Sachs (SHP) (DailyPolitical)
Shire PLC (LON:SHP)‘s stock had its “strong-buy” rating restated by equities researchers at Goldman Sachs Group, Inc. (NYSE:GS) in a report issued on Tuesday, AnalystRatingsNetwork.com reports. They currently have a GBX 2,675 ($41.03) target price on the stock. Shares of Shire PLC (LON:SHP) opened at 2051.00 on Tuesday. Shire PLC (LON:SHP) has a one year low of GBX 1682.00 and a one year high of GBX 2173.00. The stock’s 50-day moving average is currently GBX 1877.. The company’s market cap is £11.311 billion. …Shire PLC (LON:SHP) is a specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician.
SMC ‘yes’ for Shire’s ADHD drug Elvanse (PharmaTimes)
Children in Scotland with attention-deficit hyperactivity disorder (ADHD) have gained access to a new treatment option after regulators agreed to fund Shire PLC (LON:SHP)’s Elvanse on the National Health Service. The Scottish Medicines Consortium (SMC) has accepted for use Elvanse (lisdexamfetamine dimesylate) as part of a comprehensive treatment programme for the condition in children aged six years and older, when response to previous methylphenidate treatment is inadequate. …According to Shire PLC (LON:SHP), research suggests that 37,000 children and young people are affected by ADHD in Scotland, and yet only 4,539 Scottish children with a diagnosis of ADHD are currently estimated to be in contact with specialist services.
