Adobe Inc (NASDAQ:ADBE) is likely to undertake an expanded share buyback program after it terminated its merger with web design firm Figma, analysts at Jefferies believe.
“The deal termination frees up Adobe’s cash as the deal would have required a $10 billion cash payment, though now offset by the $1 billion termination fee,” the analysts wrote in a note to clients.
Kootenay Silver Inc. (TSX-V:KTN) has enticing upside potential, analysts at Couloir Capital believe as the silver miner advances its projects in Mexico.
In recent weeks Kootenay published an updated resource estimate for the Promontorio project and a maiden resource estimate for the La Negra project which have increased the company’s total resource base.
Structure Therapeutics shares plummeted more than 30% after clinical data for its investigational obesity drug failed to meet expectations.
The company's pill GSBR-1290 is part of a class of weight loss drugs known as glucagon-like peptide 1 (GLP-1) agonists, like Novo Nordisk (NYSE:NVO)'s Wgovy and Ozempic and Eli Lilly and Co (NYSE:LLY)'s Mounjaro and Zepbound.
Southern North Sea-focused E&P company Deltic’s joint venture with Shell has now approved the work programme and budget allowing for drilling of the planned appraisal well in late 2024.
Meanwhile, at Selene, operator Shell has confirmed that the geotechnical site investigation works on the preferred exploration well location have been completed, with the vessel now demobilised from the site.
Entain PLC (LSE:ENT) rose another 5.0% on Monday after an upgrade by Jefferies to ‘buy' from ‘hold.’
The broker said management change and a new activist investor with extensive gambling sector experience signpost a positive share price dynamic.
Equities analysts at Jefferies see long-term potential in Games Workshop Group PLC (LSE:GAW)’s confirmed tie-in with Amazon.com Inc (NASDAQ:AMZN, ETR:AMZ), which will see the streaming giant translate the London-listed group’s popular Warhammer 40k franchise into film and TV content.
"The potential for Warhammer to build its global exposure is clearly a huge opportunity," said analysts.
British Gas-owner Centrica PLC (LSE:CNA) has been slapped with a downgrade by US bank Jefferies, which questions where the next boost is coming from as gas prices normalise.
So far, Centrica has outperformed the sector by 50% in 2023 but uncertainty over earnings going forward might weigh on the shares, which look fairly priced at current levels.
Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) shares jumped 20% as Ecovelex, a bird repellent developed with partner Corteva Agriscience, was granted temporary approval in Italy for the 2024 growing season.
This marks the first approval for Ecovelex, noted house broker Cavendish, and allows the product to be used in Italy ahead of a full EU approval (applied for in Austria), generating early revenues.
Tower Resources should be able to move forward and finalise a Thali licence extension and farm-out deal early in the New Year following the contract signing for a jack-up rig, says house broker SP Angel.
Thali, offshore Cameroon, offers a fast-track development opportunity, suggests the broker, once the NJOM-3 appraisal well is completed.
Keywords Studios PLC (AIM:KWS, OTC:KYYWF)’s acquisition of The Multiplayer Group (MPG) from Improbable has caught the attention of City analysts, with Shore Capital Markets reckoning that the 360-strong team could help scale Keywords’ rapidly growing Create division.
Nottingham-based MPG works with some of the world's best-known studios and publishers, including Activision Blizzard, Bethesda, Zenimax, Epic and 2K, thus adding “a wealth of experience in the development of AAA multiplayer games along with analytical services”.
Chariot Ltd (AIM:CHAR, OTC:OIGLF), the energy company, is primed to cash in on the decarbonisation of South Africa’s power sector, analysts at Cavendish believe.
On Monday morning, the group announced it had completed a joint takeover of electricity trading company Etana Energy.