Talktalk weak as Haitong cuts its fair value estimate, repeats 'sell' rating
The broker also moved its forecast for a dividend cut by Talktalk back a year, but increased the scale of it to 50% from 40%.
Company
LON:TALK
We operate the UK’s most extensive Next Generation Network. We use this advanced network to provide our customers with a range of clear, consistent value for money broadband, voice and associated services.
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The broker also moved its forecast for a dividend cut by Talktalk back a year, but increased the scale of it to 50% from 40%.
BT revealed that Brendan Barber - chairman of employment relations service Acas and a former Trades Union Congress boss - and Edward Astle - a former Board member of National Grid PLC (LON:NGG) - will become non-executive directors of Openr
The surprise change at the top came as the FTSE 250-listed firm also reported a 5.4% drop in third-quarter net revenues to £435mln, down from £459mln a year earlier.
US investors showed little fear ahead of a Federal Reserve rate decision due later in the session, and Friday’s always-important US non-farm payrolls.
Recent expert commentary doesn’t bode well for TalkTalk investors.
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The broker expects average revenue per user (ARPU) to decline at a faster pace than the market is currently predicting
Dixons Carphone chief executive Seb James said "while we have still not seen any effect on consumer demand as a consequence of Brexit, we have been planning for the possibility of more uncertain times ahead."
Haitong’s analysts drew this conclusion after studying submissions the trustee of the BT Pension Scheme (BTPS) made to Ofcom on October 4, which were published on November 29.
Worries on TalkTalk’s ability to retain its subscriber base and grow usage revenues will hang over the shares,
TalkTalk falls as regulator expresses concern over hefty price hikes
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FTSE 100 shares ended down on Tuesday, led by miners and oil companies
The group was hit by a massive cyber attack a year ago, costing it £60mln and losing it 101,000 customers.
Investments and investor services
UK stocks ended higher on Tuesday but off their day’s best as speculation mounted over a December US rate hike
Around 40,000 accounts were subjected to dubious activity, with half having cash removed.
TalkTalk has been fined £400,000 for failing to implement the "most basic" cyber security measures
UK shares closed higher on Tuesday, extending gains from the previous session, while investors awaited the outcome of central bank meetings in Japan and the United States
BT shares rose sharply, while shares in rivals Sky and TalkTalk dipped, which tells you most of what you need to know about Ofcom's decision on Openreach
TalkTalk said its first quarter had gone well with revenue matching last year's 0.4% drop