BT gets hefty upgrade from US broker as Openreach headwinds ease
The new 340p target is 28% above Jefferies' previous forecast
Sector
Telecommunications
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Ernst & Young lands Vodafone’s lucrative audit contract
EY was competing with Deloitte and KPMG to win the Vodafone contract, which earned PwC more than £20mln last year
Starling raises £75mln as digital banks up their challenge
The bank raised £75mln led by Merian Global Investors, formerly known as Old Mutual, which chipped in £60mln
Vodafone upgraded to ‘Buy’ by Bank of America as it predicts return to top line growth following “annus horribilis”
The bank said the last 12 months had been “generally torrid” for the mobile network operator, however, these headwinds were now passing as well as being “increasingly baked into forecasts”
BATM awarded follow-on cyber communications contract from government defence department
The networking technology provider said the US$3.2mln contract would be delivered during the year and followed a previous order for hardware and software cyber security products in 2018
TalkTalk shares drop as it warns customer acquisition costs will dent profits by up to £15mln
TalkTalk still expects to see profits surge this year, but changes to the way it books revenues and higher costs associated with adding new customers mean it will miss forecasts
BT dividend hike seen as unlikely by analysts as telecoms firm tackles costs, pensions and debt
“With the combined pension and net debt position a rather daunting £16.1bn, it’s hard to see the new CEO raising the dividend in May’s full years,” said George Salmon, equity analyst at Hargreaves Lansdown
BT reports better-than-expected third quarter earnings but warns of challenges ahead
Outgoing chief executive, Gavin Patterson, said he believes he is handing over the business to new boss Phil Jansen with “good momentum behind its ongoing transformation programme”
BT investors fret over what German rival Deutsche Telekom might do with its big stake in the UK group
The lock-up on Deutsche Telekom’s 12% holding in BT — a legacy of the £12.5bn sale of mobile phones business EE to the FTSE 100-listed firm in 2015 — ended on January 29
Inmarsat wins contract to provide GX Aviation inflight broadband solution to Indonesian national airline Garuda
The FTSE 250-listed global mobile satellite communications group said more than 175 aircraft within the Garuda Indonesia Group will now be equipped with GX Aviation
BT's Openreach to recruit another 3,000 apprentice engineers for ultra-fast fibre-to-the-home broadband roll-out
The jobs — about 1,600 of which will be new roles — are an extension of the company’s largest-ever recruitment drive to hire 6,500 apprentice engineers this year and next
BATM rises as it inks US$30mln investment agreement to develop molecular diagnostics solution
The firm said the initial US$14.5mln would be funded by the end of March, while the remaining US$15.5mln is to be funded by the end of 2020
BT to post weaker third quarter earnings as investors wait to hear from new boss
Berenberg sees BT's full-year results in May as an opportunity for new boss Phil Jansen to lay out his plan for the business
Vodafone expects 2019 earnings to drop as new accounting measures dent revenues
Vodafone's third-quarter revenue was dented by the adoption of IFRS 15 rules, the sale of its Qatar stake and foreign exchange headwinds
Vodafone and O2 extend their network sharing deal to cover 5G, stepping up the battle with BT
Nick Jeffery, Vodafone UK’s chief executive said: “We believe that these plans will generate significant benefits for our business and our customers as we move into the digital era of connected devices, appliances and systems on a mass scal
BT's fibre broadband roll-out plan is Deutsche Bank's 'biggest concern'
“On one hand dividends and pension constrain investment budgets, on the other, competitors are starting to receive funds for ambitious new builds and are mobilising to avail of duct and pole access regulation,” Deutsche Bank said
BT's enterprise arm facing top-line pressures but cost cuts offer support, says Barclays
Barclays expects BT’s revenues to fall 1.5% and earnings to drop 5.6% in the third quarter
BATM subsidiary upgrades Kenyan education network
The company, which installed the previous network in 2016, said the upgrade would allow KENET to upgrade the quality of its existing services
Spirent Communications shares jump as it expects full year profit to beat market forecasts
Spirent Communications said full year revenue gained 6%, driven by growth in the networks and security division
Allot wins new client
A Tier 1 US Network operator is adopting Allot’s IoTSecure solution to protect IoT (Internet of Things) devices on its network