(MENAFN- ProactiveInvestors)Takeover speculation continues to swirl around chip designer Imagination Technologies especially in the wake of disappointing trading updates. The most recent update was one such update with the company lowering guidance on growth in licensing revenue so the company has a bit of reputational damage to restore in its full year results due out on Tuesday. JP Morgan Cazenove expects the numbers will be broadly in line with guidance and market expectations. Caz has pencilled in £179.7mln for sales which is above the consensus forecast of £178mln and goes for underlying earnings before interest and tax (EBIT) of £21.7mln versus the median forecast among analysts of £21.4mln. 'We expect IMG to guide improved FY16 performance though we do not know the granularity to which they will guide' Cazenove said. The broker opines that the market will be focusing on estimates being met and operating expenditure (opex) being controlled. 'In the current low growth environment (5% FY15 sales growth) investors are expecting opex growth to remain low unless management expects growth to be much higher in which case the company will need to give supporting information' the broker said. Significant announcements expected Monday Interim: Porvair (LON:PVR) Economic: UK – Mortgage approvals Money supply. EU – Economic confidence. US – Pending home sales. Tuesday Interims: St Modwen Properties (LON:SMP) Finals: Imagination Technologies (LON:IMG) Northgate (LON:NTG) Plastics Capital (LON:PLA) Sweett Group (LON:CSG) Economic: UK – GfK consumer confidence survey Current account Gross domestic product. EU – Eurozone consumer price index. US – S&P/Cash-Shiller composite Consumer confidence Wednesday Finals: Greene King (LON:GNK) Trading statement: Tullow Oil (LON:TLW) Economic: Asia – Chinese manufacturing PMI Chinese non-manufacturing PMI Chinese HSBC manufacturing PMI. UK – Markit PMI manufacturing. US – MBA mortgage applications ADP employment change Thursday Finals: Scholium Group (LON:SCHO) Trading statement: Persimmon (LON:PSN) The following widely-held companies are trading ex-dividend on Thursday: Direct Line Insurance ICAP Homeserve Tate & Lyle Royal Mail British Land BP Burberry Dairy Crest Group De La Rue Coca Cola HBC. Economic: UK – Nationwide house prices Markit/CIPS construction PMI. US – Non-farm payrolls. Friday Finals: Polar Capital Technology (LON:PCT) Economic: Asia – HSBC composite PMI HSBC services pmi. Uk – Markit/CIPS services PMI Markit/CIPS composite PMI. EU – Eurozone retail sales
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