THE TIPSTER
IMAGINATION Technologies reports its earnings on Wednesday, but it has got off to a bad start this week, plunging some 8 per cent after analysts had it downgraded. The shares have fallen through the 100-day moving average and support, to around 450p. This might not be the end of the bad news,. Some suspect it will drop as low as 400p before trying to recover. Spread Co offers 429.4p-430.3p.
The FTSE 250-listed Supergroup has had a bit of a fall from grace recently. It came onto the market in January 2010 at 500p before moving to nearly touch 1,900p in February this year. The company remains ambitious to expand. But in just over a month, its interim figures have caused them to fall from 1,588p to their current price at 840p. Although sales were up 61 per cent, the previous quarter was significantly higher (up by 87 per cent). Traders have possibly seen this stock as overvalued and acted accordingly. Capital CFDs is quoting 835.2p-840.3p.
Transport stocks are generally struggling to make any headway at the moment thanks to high fuel prices and a faltering global economy. Earnings news from FedEx on Wednesday will be closely watched and any surprises here could end up weighing heavily on the stock price. However, some think the outlook for 2012 will be better. Current IG Markets price on FedEx is $86.90-$86.98.