The AI-enabled in vitro diagnostics company has been in the news of late with a series of US government approvals to add their kidney diagnostic tests to state-funded healthcare programs, but this morning management issued a statement to advise that a large and well-capitalised strategic diagnostics company had made an unsolicited bid. There are no names and no pricing information is outlines either, but this has triggered a formal sale process with the board also looking at other funding opportunities. Shares are up 67.5% in early trade.
Another small cap making big waves this morning was Mirriad Advertising, an in-content and product placement agency. The company announced it had entered into a two year agreement with a leading US media partner, which provides both additional resource and extended reach. As management noted, Mirriad’s access to the US TV advertising market has grown from less than 10% to almost 40% over the last few months and they are now working with seven out of the top 10 media companies in the US. Shares were 19% higher shortly after the open.
The online supermarket and grocery logistics firm published results late last week which didn’t attract too much attention at the time, but the subsequent media dissection has evidently given investors pause for thought. With losses still in play and the company pledging to be profitable at a pre-tax level but not until around the end of the decade, investor confidence has clearly been rattled. Shares were 5% lower, propping up the foot of the FTSE-100 around an hour into Monday’s trade, but some 12% down on the highs tested just after the results were issued.
Headlines we expect on Tuesday
Greggs final results
This time last year Total sales £1513m, Estate size 2,328 shops, FY dividend 59p
Reach final results
This time last year Revenue £601m, Operating profit £106m, FY dividend 7.34p, data-led revenues at 32% of total digital revenue
