Shares in AIM-listed semiconductor products firm IQE (LON:IQE) jumped 10% after it increased its FY sales forecast on strong demand. Revenue is now expected to grow by 30% to around £130 million against a previous forecast of a 20% increase. Sales top forecasts on insatiable AI demand The firm said H1 trading had exceeded forecasts, with sales now expected to hit at least £64 million. Demand for its InP (Indium Phosphate) solutions in particular is accelerating due to their critical role in enabling optical photonics products for data centres and AI infrastructure. Growth was also supported by aerospace and defence…

Facilities management firm Mitie Group (LON:MTO) has agreed a £3.1 billion cash takeover proposal from UK peer OCS. The deal values MITIE shares at 221.6p, including a 3.1p final dividend for FY26, or a 47% premium to last night’s close. Delivering value for shareholders Bringing together OCS and Mitie would create one of the largest private-sector UK firms with around £8.5 billion in annual revenue. It would also consolidate OCS’s position in managing government, defence, healthcare and infrastructure facilities. Mitie CEO Phil Bentley called the deal ‘a testament to everything we have achieved in recent years. This recommended offer reflects…

UK self-storage operator Big Yellow Group (LON:BYG) posted a 2% increase in Q1 like-for-like revenue, continuing the trend FY25/26 trend. Like-for-like occupancy in the quarter to June dipped 0.2%, while average rent per square foot rose 3%. Pipeline growth Occupancy across the group’s 113 stores increased by 161,000 square feet or 2.4% of the maximum lettable area at 30 June. That compared with a 47,000 square foot or 0.5% increase at the same point last year. While like-for-like occupancy dipped 0.2% to 79.2%, the average rate increased 3% to £36.68 per square foot. Group revenue for the quarter was up…

Warehouse and data centre operator SEGRO (LON:SGRO) has turned down a third offer from Prologis (NYSE:PLD) valuing it at £13.5 billion. The US suitor insists its proposal represents ‘a compelling opportunity’ and has urged SEGRO shareholders to lobby the board. Third attempt The latest offer consists of 0.089 new Prologis shares with a partial cash alternative for 20% of the total consideration. Based on current share prices and the GBP/USD exchange rate, SEGRO shareholders would get roughly 993p per share. That’s a 3.4% premium to the initial Prologis offer, which was pitched at a 25% premium to SEGRO’s underlying price.…

Investment trust Biotech Growth (LON:BIOG) scored yet another win as US pharma giant Eli Lilly (NYSE:LLY) snapped up portfolio company AtaiBeckley (NASDAQ:ATAI). The deal represents another success for the trust ‘and further validates our investment strategy’ said manager Geoff Hsu. Eighth deal this year Eli Lilly announced it would buy AtaiBeckley for around $2.8 billion or $6.75/share, a 26% premium to its market value. Furthermore, the deal includes $1 billion in contingent value rights payments, taking the total price to $3.8 billion or $9.25/share. AtaiBeckley is a clinical-stage biotech company focused on the development of drugs for the treatment of…

The reporting pace cranks up next week as US reporting season goes through the gears, with results from Alphabet (NASDAQ:GOOG) and Tesla (NASDAQ:TSLA) set to dominate headlines alongside updates from UK companies including JD Wetherspoon (LON:JDW) and Wickes (LON:WIX). Alphabet’s earnings will be scrutinised for signs that its heavy AI investment is translating into stronger cloud growth and advertising revenue, while Tesla shareholders will be watching not only margins and vehicle demand but also any commentary on persistent speculation over closer ties with SpaceX (NASDAQ:SPCX). In the UK, investors will look to JD Wetherspoon and Wickes for fresh insight into…

Shares in AIM-listed Eagle Eye (LON:EYE) soared to a new 12-month high after FY26 results beat its previously raised guidance. The AI-powered loyalty and promotions platform said EBITDA would ‘materially’ beat forecasts thanks to strong H2 trading. Flying high For the year to end-June, Eagle Eye posted underlying revenue of £46.1 million, up 21% on FY25. Within this, ARR (annual recurring revenue) increased 31% to £44.5 million driven by major customer wins. The firm grew its relationships with existing customers and registered the first customer contracts from its global OEM partnership. Trading in H2 was materially ahead of expectations, matched…

Shares in Ocado (LON:OCDO) hit a 10-year low after its H1 results and FY outlook disappointed investors. The firm swung to a loss in H1, from a substantial prior-year profit, while its FY outlook undershot expectations. From profit to loss For the six months to May, excluding monies from Kroger and Sobeys, revenue rose just 1% to £684 million. Within that, Technology Solutions revenue fell 8% to £256 million while Logistics revenue rose 8% to £428 million. Operating profit at Technology Solutions shrank 18% to £60 million, while at Logistics it rose 15% to £22 million. At the group level,…

The UK market continues to shrink with the announcement Rotork (LON:ROR) has agreed a cash offer from ABB (SWX:ABBN). The Swiss engineering giant has agreed to pay 506p per share, including a 3p dividend, representing a 73% premium to last night’s close. ‘Highly attractive business’ ABB, which specialises in automation and robotics, describes the UK company as ‘a highly attractive business’. Rotork produces intelligent flow control solutions and electric actuators, making it a good strategic fit with ABB’s automation portfolio. Adding Rotork’s offering strengthens ABB’s position in automating ‘large and complex industrial and infrastructure applications’, the firm says. That doesn’t…

Shares in housebuilder Barratt Redrow (LON:BTRW) gained on news the firm will return £400 million of capital to investors. The company made the announcement alongside its trading update for the year to end-June. Returning cash to create value Despite a ‘challenging’ market, Barratt Redrow completed 17,667 homes, at the top end of its guidance. These included 566 homes from joint ventures and 3,774 affordable homes, 27% more than in FY25. Net private reservations, a key measure of demand, edged up to 0.64 units per outlet per week. As a result, for FY27 the firm expects to complete between 17,700 and…