Date: Tuesday 31 Jan 2012
Chip designer ARM Holdings was providing a boost in the technology hardware and equipment sector today, the best performing category of the day.
ARM, which provides the intellectual property behind popular gadgets such as Apple's iPhones and iPads, saw fourth quarter sales figures come in well ahead of consensus estimates.
Fourth quarter sales totalled £137.8m, up from £113.9m the year before and well ahead of the £127m expected by Bloomberg consensus, as the group sold 2.2bn of its ARM technology-based chips, the highest-ever number of ARM-processor based shipments. ARM
While Nomura maintained its neutral rating on the stock today, it acknowledged that the group’s results indicated a “strong beat”, driven by strong processor revenues in both licensing and royalties.
Sector peer Filtronic, the wireless telecoms products group, was also higher after it delivered an increase in half yearly sales as losses widened. Revenue from continuing operations for the six months ended November 30th rose to £10.5m compared with £7.3m for the same half a year earlier.
Top performing sectors so far today
Technology Hardware & Equipment 779.10 +2.73%
Oil & Gas Producers 8,541.38 +1.73%
Industrial Engineering 7,367.17 +1.55%
Oil Equipment, Services & Distribution 23,521.79 +1.50%
Gas, Water & Multiutilities 4,666.99 +1.45%
Bottom performing sectors so far today
Food Producers & Processors 5,402.47 -0.92%
Real Estate Investment Trusts 1,851.60 -0.67%
Tobacco 33,613.73 -0.67%
Beverages 10,666.20 -0.57%
Industrial Transportation 2,281.32 -0.52%
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