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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Business & education services

Nike, Petrofac and Redx Pharma, Tuesday's Agenda

Being just one of the few companies in the diary normally brings extra attention, though not necessarily in the weeks either side of Christmas.

Petrofac Limited (LSE:PFC), which is still repairing its reputation after a Serious Fraud Office investigation, has not have wanted much attention over the last few years and amid strikes by North Sea workers this month and news that chief executive Sami Iskander is leaving, it is again in a state of flux.

Elsewhere, small cap Redx Pharma PLC (AIM:REDX) will report prelims fresh from signing a clinical trial collaboration and supply agreement with Merck (MSD) to evaluate its cancer treatment in combination with US drugs giant's blockbuster, Keytruda.

Redx Pharma also recently revealed that a second drug from its pipeline has moved into phase II clinical trials following the recruitment of the first patient to its programme.

In the US, Nike Inc reports second-quarter numbers, with its shares having slipped to two-year lows back in October due to concerns that the hit to its China business could see an even bigger decline to the 19% fall in revenues seen at the end of last year.

For the first quarter Nike correctly guided to revenues to be flat to slightly up and elevated costs versus last year - though investors were less pleased with the 44% rise in inventory and an even bigger increase in the US, and a fall of 16% in China sales even as sales in the US increased.

For Q2 Nike said it expects to grow revenue by low double digits on the basis of a pickup in consumer demand, with earnings per share forecast to come in at US$0.65.

Significant announcements

Trading update: Petrofac Limited

Finals: RedX Pharma PLC

US earnings: General Mills, BlackBerry, FedEx, Nike

AGMs: Conroy Gold & Natural Resources PLC, eEnergy Gorup PLC, Karelian Diamond Resources PLC (AIM:KDR)

Economic announcements: Building Permits (US), Housing Starts (US)

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