Software specialists shine on declining FTSE
Travel-orientated groups may be dragging share prices on the FTSE down today, but software specialists are showing signs of positive activity for the week pushing their share prices in the opposite direction.
Rob Hull
shareprices.com - Monday, April 19, 2010
Sage Group (LON:SGE) has been hitting headlines today following the announcement that CEO, Paul Walker, will stand down from his position after a 16 year stint at the helm.
Walker has been at the group for a total 26 year term, but at the age of 52 has reportedly said he wanted to leave while he’s still young enough to pursue new challenges.
The business software group has now employed the services of Russell Reynolds Associates to headhunt a replacement.
And the news of a wide-scale talent hunt to fill the position has put Sage Group share prices up 0.5 per cent at midday after reaching a day high of 257.30p – just under 4p up on today’s open price.
Fellow software group, Autonomy Corporation (LON:AU.), was one of the biggest fallers on the FTSE 100 on Friday with share prices dropping four per cent to a month low of 1,731.00p after the group issued a trading update that was in-line with analyst predictions.
But ahead of the re-scheduled results announcement for the first quarter taking place on Wednesday, the enterprise software group has started to climb again, up 1.8 per cent at midday, two days before it is set to confirm Q1 revenue of over £125 million.
Games Workshop (LON:GAW) completes a positive-performing software trio today after reporting that trading for the first four months ending April 4 2010 is in-line with analyst expectations.
The update put share prices in the tabletop battle-game based firm to a high of 393.85p, the highest they’ve been since January 2010 when the group reported that profits were up nearly eight million pounds for the prior six months against three million pounds in the same period the previous year.
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