|Bid||68.15 x 0|
|Ask||68.35 x 0|
|Day's range||64.43 - 69.01|
|52-week range||25.00 - 138.80|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||28 May 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||99.10|
Britain's rail network will operate half its normal service during the coronavirus crisis, the government and rail industry body said on Friday, and Heathrow Airport's operations will shrink as more of the country goes into a partial shutdown. From Monday, trains will only run on core services, equivalent to about half the passenger trains on a normal weekday, to reflect the drop-off in demand as more and more Britons work from home and stop travelling. Heathrow Airport, the country's biggest, also said on Friday that it would partially shut down some operations after coronavirus brought most air travel to a standstill.
(Bloomberg) -- Activist shareholders are giving up on some of their campaigns amid historic market volatility.Elliott Management Corp. dropped its opposition Wednesday to Altran Technologies SA’s $4 billion takeover by Capgemini SE, citing “current market conditions.” The investment firm led by Paul Singer said it will sell its stake in Altran to Capgemini, after arguing for months that the the deal undervalued the French technology consulting firm.Robert Tchenguiz, who had been challenging FirstGroup Plc’s management for at least four months, announced Wednesday that he no longer holds a material interest in the transport operator. Tchenguiz “regrettably” sold his stake in FirstGroup, which owns the Greyhound bus line, “due to the unprecedented circumstances and the consequential challenges the world is now facing,” he said in a London filing.The U.K.-based investor said he still supports the changes being proposed by fellow activist Coast Capital and is “sorry” he won’t be able to participate in the value creation that the plan will deliver.Shares of FirstGroup were up 24% at 3:54 p.m. Thursday in London, outpacing the 1.5% gain in the benchmark FTSE 100 Index and giving the company a market value of about 426 million pounds ($502 million).They’re not the only ones sounding a note of caution. Billionaire hedge fund manager Bill Ackman said Wednesday that if immediate action isn’t taken, the U.S. could enter a “Depression-era period” and millions of people could die globally until a vaccine becomes available. Boeing Co. won’t survive without a government bailout, and the hotel and restaurant industries could go bankrupt if there’s a prolonged shutdown, Ackman, who runs Pershing Square Capital Management, said in a CNBC interview.To be sure, activist investing remains alive and well.Mason P. Slaine disclosed a stake in Tribune Publishing Co. Wednesday, saying the newspaper chain should consider selling its BestReviews division, according to a regulatory filing.(Updates with FirstGroup afternoon trading in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Momentum is sticky and persists for longer than investors tend to anticipate. The downside of this is that stocks with recent negative momentum are likely to c8230;
British bus and rail company FirstGroup announced plans to sell its two North American-based bus units, as it said it had not seen a significant impact from coronavirus on demand for travel so far. The company said a formal sale process for the North American units, which run yellow school bus services and bus contracts in the U.S. and Canada, was underway and there was significant interest expressed by potential buyers. Major shareholder Coast Capital Management had pressured FirstGroup to sell the businesses, saying there were no synergies between the company's UK and North American operations.
Tchenguiz now owns a 6.09% stake in the company, up from 5.08%. Tchenguiz with Coast Capital Management, FirstGroup's second biggest investor with a 10% holding, called for the sale in November, saying Aberdeen-based FirstGroup's U.S. assets had no synergies with its operations at home, which include a bus and rail division.