Premier Foods (LSE: PFD) and ARM (LSE: ARM) are on the way up.
The FTSE 100 (UKX) is sliding back today, down 74 points (1.25%) to 5,809 points by mid-afternoon, as falling miners add to early losses for the index of top UK shares.
The day-to-day movements of the indices don't matter, of course, but actual news does. Here are three companies that are climbing today on pleasing revelations...
Premier Foods (LSE: PFD) got a nice boost from a third-quarter interim update today, which sent the shares up 5.2p (6.6%) to 84p. "I'm delighted that we've grown sales of our Grocery Power Brands for a third successive quarter," said chief executive Michael Clarke, as the firm reported a 4.1% rise in that segment and an overall 2% rise in underlying sales for the quarter (excluding milling).
The company is on target to meet current expectations this year, and further cost savings of £20m are expected for 2013.
Chip designer ARM Holdings (LSE: ARM) reported third-quarter results, and the share price responded by climbing 30p (5%) to 624p.
Strong smartphone royalties have helped the company beat forecasts, with pre-tax profits for the year-to-date up by 22% over the same period last year to £197m, and earnings per share up 21% to 10.63p. This all came from revenues of £413m, up 17%. ARM's shares have been through a mini-slump during the middle of the year, but they're now back into positive territory over a 12-month period.
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Telecoms provide Alternative Networks (LSE: AN) gained 9p (3.9%) to 242p after the firm told us that a potential takeover has been rejected. On 11 October, the company announced a tender offer as a means to return cash to shareholders, and that was followed by an approach by an unnamed third party with a view to acquiring the entire share capital.
The board has now rejected that “highly preliminary” approach, and the third party has walked away. The tender offer remains open.
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> Alan does not own any shares mentioned in this article.