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Positive earnings news at WH Smith

www.irishtimes.com
[Irish Times] - “Cash continues to be generated, a new buyback programme is in place and returns will continue to rise,” Philip Dorgan, an analyst at Panmure Gordon, said in a note. The announcement today “is reassuring on all fronts”, he said. WH Smith has had “good

Guardian: Ocado loses 3% as analyst warns it could breach covenants this year

[The Guardian (blog)] - After UBS issued a sell note on the online grocer on Thursday, based partly on signs of a slowdown in the market and competition from Waitrose, Philip Dorgan at Panmure Gordon has issued a report ominously titled The beginning of the end game.

Ocado's days as public company are 'limited' and will breach covenants, warns ...

www.telegraph.co.uk
[Telegraph.co.uk] - Philip Dorgan at Panmure Gordon also warned that Ocado has been hit by a double-whammy of the Diamond Jubilee and the Olympics, and is "not sustainable" with its current debt load of £71.3m. The doom-laden note comes just 24 hours after UBS issued

Guardian: Barclays climbs more than 2% as City welcomes new chairman, but FTSE fades ...

[The Guardian (blog)] - Still with retailers, Ocado dropped 2p to 71p after Panmure Gordon analyst Philip Dorgan said the online grocer might breach its covenants this year. Dixons Retail rose 1.7% to p after it paid €10m to take full ownership of European online
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