- Buy Vodafone at 162.25p
- Avoid Benfield Group at 257p
- Hold BSS at 368.75p
- Buy Dawson Holdings at 92p
Finally - keep an eye on Dwyka Group (DWY) at 32p - that's from me not Mr Questor
Sell – Phorm, GTL Resources
Buy - Delek Global Real Estate, Hampson, Faroe Petroleum, Lidco
Buy - Accident Exchange, Keller Group, Northern Petroleum, Serco, Renishaw
Sell - Carphone Warehouse
· Barclays' reaction to a fragile balance sheet and the scramble for capital is to do nothing
Hold - Henderson –
Aolid buy - BT
Buy – Luminar
Rumours of stakebuilding by foreign investor lifts Dermasalve Sciences
Hold - Vedanta Resources
Buy - Invensys
Hold - Balfour Beatty
Sell - Aer Lingus
Hold – Informa
Dermasalve rumoured to have a large order in the pipeline
FED chairman Ben Bernanke tells financial firms to raise capital and toughen risk management
Blinkx. the UK video search engine company recently buoyed by rumours of a possible takeover by Google or News Corp. has just announced results which are either brilliant or awful depending on which pair of spectacles or blinkers you are wearing at the time - a net loss of $3.2 million for the 6 months to end-March, with revenue of $3.6 million. They did say however that they are ahead of their plan to move towards profitability.
Pretax losses were $3.45 million. Content hours have more than tripled since May 2007, increasing to 26 million from 7 million,with daily video searches of over 5 million a day in March .
Their conference call failed to impress some from both a technical and a presentational viewpoint, which was a bit disappointing for a media company. All in all people on the 'virtual street' generally considered the performance lacklustre and nobody seems particularly hopeful of a rapid rise in the share price. The takeover rumour hasn't gone away though. The analysts too will have their say and from what I've seen so far I can't see them being too positive. Share prices tend to fall after results anyway, so I expect the Blinkx share price to be no exception (but I am a great contrarian indicator).
Ebay, which has a 25% stake in Craigslist launched a lawsuit against it a few weeks ago. Ebay bought a 28% stake back in 2004 and now accuses Jim Buckmaster and Craig Newmark of attempting to dilute its stake and thereby reduce any influence Ebay may have over the board and its decision.
Ebay obtained their original 28% stake from a former Craigslist employee and last summer launched a rival to Craigslist in the U.S kjiji.com (did I spell that right ?). Buckmaster and Newmark were never particularly keen to have Ebay as a shareholder (I wonder why), there own ethos being a desire to provide services free of charge wherever possible, and to make enough money to live comfortably whilst retaining control of their lives. Buckmaster is not really looking for the money he could undoubtedly make from his site, but at the same time has not ruled out the possibility of a sale if the price was right.
Craigslist consciously trades off its anti-establishment image (most listings posted on its sites are free, and it makes money from charging professional recruiters for jobs adverts in 10 cities, along with brokers handling apartment rentals in New York City).
Mr Buckmaster’s says he has been called “a communist, and a socialist anarchist”. What he exhibits, however, is more a pragmatic brand of pinko liberalism. The Craigslist chief executive confesses to living a comfortable life on his earnings and does not rule out a sale of the company in the long term.
Most people like to trade with other individuals, not brokers, he says, which helps to explain the anti-business ethos. He adds: “People like ‘free’. If there’s no use in charging from the user’s point of view, we don’t see any use in it.” Hooray, me neither.
Craigslist is nevertheless a very successful business, despite being largely free. Classified Intelligence says the site should have a turnover of $81 million this year, an increase of $26 million over last year (they get their money from paid real estate and help-wanted ads in a few cities in case you were wondering).
According to Henry Blodget (him again – why do people continually quote Henry Blodget ? – search me !) Craigslist may be worth $5 billion, so it is easy to see why the Ebay Empire would want to engulf it.
Jennifer Tilly plays a mean game of poker, but unfortunately she was unavailable for comment.
For more pictures of Jennifer Tilly I'm sure you know what to do.
No external bids ? Are there internal bids then ?
Blinkx shares rose more than 50% at one point today on rumours of a News Corp Rupert Murdoch takeover. There were also rumours that MSN and Google were interested and rumours that the price would 60p. This is goo dnews for any long-term holders who got in when the company listed on AIM almost a year ago, as the share price has done nothing but fall since then, except for the last few days. So if there is a takeover then the long-term sufferers might at least get their money back.
Those who bought in under 20p were of course very pleased with the recent turn of events, perhaps less so after this latest RNS - as I type the share price is in backwardation.
Blinkx is a video search website which used to be part of the software group Autonomy. The group is apparently considering listing its shares on the Nasdaq.
Autonomy still has a 20% stake in Blinkx and it said would wait a year before selling its stake, due to a lock-up which ends on May 22. Could there be a connection ? Who knows ? Certainly not I or We.
Blinkx searches content according based on user requests and charges for ads. to be displayed alongside searches.
Media companies are among those who have signed up with Blinkx, which has over 200 clients.
The group has just launched new "indexing technology" and increased its sales team by 100%.
The shares were as high as 38p earlier they are now down to 27p. A fair amount of money has no doubt changed pockets !
Microsoft withdrew from its flirtation with Yahoo over the weekend, but the result could be messier than if it had stuck it through to the bitter end. Now everybody's left feeling frustrated and they are probably going to have to start it all over again after a short rest and a cigarette.
Steve Ballmore (did I spell that right?) offered around $29 a share then upped it to $33 apparently, but Yahoo was not impressed "Is that all you've got ?" Well, maybe not, we all know how big Microsoft is, but it's all Steve was prepared to put on the table.
Monday morning will see Yahoo's share price wilt no doubt, Henry Blodget (remember him) reckons Yahoo's stock could fall to the low $20s. But given Microsoft's healthy appetite it will probably be back for another bite at the cherry at some future date.
I sense a group hug over at Yahoo as they brace themselves for the final push, this could get ugly! microsoft yahoo takeover yahoo Microsoft withdraw