3 Shares Set to Beat the FTSE Today
LONDON -- The FTSE 100 (INDEX: ^FTSE) is sliding back today, down 1.25% to 5,809 points by mid-afternoon as falling miners add to early losses for the index of top U.K. shares.
The day-to-day movements of the indexes don't matter, of course, but actual news does. Here are three companies that are climbing today on pleasing revelations.
Premier Foods (ISE: PFD.L)
Premier Foods got a nice boost from a third-quarter interim update today, which sent the shares up 6.6% to 84 pence. "I'm delighted that we've grown sales of our Grocery Power Brands for a third successive quarter," said chief executive Michael Clarke as the firm reported a 4.1% rise in that segment and an overall 2% rise in underlying sales for the quarter (excluding milling).
The company is on target to meet current expectations this year, and further cost savings of 20 million pounds are expected for 2013.
ARM (ISE: ARM.L)
Chip designer ARM Holdings reported third-quarter results, and the share price responded by climbing 5% to 624 pence.
Strong smartphone royalties have helped the company beat forecasts, with pre-tax profits for the year to date up by 22% over the prior-year period to 197 million pounds and earnings per share up 21% to 10.63 pence. This all came from revenue of 413 million pounds, up 17%. ARM's shares have been through a mini-slump during the middle of the year, but they're now back into positive territory over a 12-month period.
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Alternative Networks (ISE: AN.L)
Telecom provider Alternative Networks gained 3.9% to 242 pence after the firm told us that a potential takeover has been rejected. On Oct. 11, the company announced a tender offer as a means to return cash to shareholders, and that was followed by an approach by an unnamed third party with a view to acquiring the entire share capital.
The board has now rejected that "highly preliminary" approach, and the third party has walked away. The tender offer remains open.
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The article 3 Shares Set to Beat the FTSE Today originally appeared on Fool.com.Alan does not own any shares mentioned in this article. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors.