(MENAFN- ProactiveInvestors)Publishing firm Pearson (LON:PSON) brought out its trading update a day early to deliver bad news that wrong-footed investment analysts. Investec has its recommendation under review after what it termed a 'poor update'. Earnings per share for the full year are in the company's own words expected to be towards the bottom end of a downward revised 70p-75p guidance range. This is a painful negative in Investec's view particularly as it thought things had bottomed out. Independent Oil and gas (LON:IOG) rides again! That's the headline in resources-focused boutique SP Angel after the energy firm secured funding with shares issued at a discount that was a very reasonable 9% or so. The modest discount says a lot in SP Angel's view about the esteem in which the management is held by the City and the opportunity ahead for the company. VSA Capital Research concurs saying the fund raising is a very good piece of news for IOG as it will fund the company until February 2016. 'This should allow it to focus its efforts on completing the acquisition of the remaining 50% interest on the Skipper field before the expiry date on 7 December 2015 as well as complete the funding for its committed appraisal well' the broker said. Numis Securities meanwhile hails a positive development for Berkeley Energy (LON:BKY) which has received most of the approvals required for the initial infrastructure development of the Salamanca uranium project to kick off. 'This is another solid achievement for Berkeley ticking more permitting boxes and gradually preparing Salamanca for development' the broker said. With the price/net asset value ratio at just 0.3 the stock is cheap and remains a key pick for exposure to long term uranium fundamentals. Sound Energy's (LON:SOU) proposed tie-up with US oil field support services giant should jointly fund and technically de-risk multiple assets in Sound's portfolio and also future assets Cantor Fitzgerald believes. 'It is a strong endorsement of the assets Sound's management team and the company's regional gas strategy. It positions Sound for ambitious expansion across Europe and Africa without equity dilution' the firm's house broker said as it reiterated its 'buy' recommendation and 30p price target. Dougie Youngson at finnCap meanwhile said it was an interesting step for Sound and could lead to maturation of its portfolio by increasing activity in 2016. 'Details are quite thin today but we view this news positively. We maintain our Buy recommendation and 23p target price' the broker revealed.
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