Daily FNArena News - Small Caps

Intellectual property firm Xenith IP provided weak FY18 guidance, flagging an underperforming transaction, and brokers sharply mark down expectations.

IPH Ltd has acquired New Zealand’s AJ Park and brokers expect this can deliver revenue synergies as AJ Park patent cases are referred to its Asian network.

Moelis initiates coverage on Big Un, which provides digital video production and related online digital search services to business customers.

Macquarie Telecom is growing its hosting service at a fast rate, with a focus on hybrid IT that includes dedicated servers and data centre co-location. Canaccord Genuity initiates coverage.

New horizons beckon Senex Energy, which has won a prospective CSG acreage in Queensland’s Surat Basin, and re-awaken broker enthusiasm for the stock.

Orocobre has delivered an upgrade to inventory at its Olaroz lithium brine project in Argentina amidst favourable product pricing and improved production potential.

Brokers welcome the value accretion that lies in the businesses recently acquired by National Vet Care.

Autosports delivered a strong FY17 maiden result, signalling scope for further acquisitions in FY18.

Plumbing fittings specialist Reliance Worldwide beat prospectus with its maiden FY17 result and has exhibited a high level of confidence in its FY18 guidance.

Adairs finished FY17 with a flourish after a weak performance earlier in the year, as sales and margins were soft while inventory was cleared. Brokers envisage a better performance in FY18.