One to watch

STOBART has four principal divisions. Stobart Ltd is the eponymous transport fleet, while rail provides engineering services to Network Rail. Ports includes an interest in Widnes Inland Port and Merseygateway Port, which covers 44 acres of land and water near Runcorn with access to the Manchester ship canal. Air owns London Southend and Carlisle airports.

The logistics division is by far the largest, representing nearly 90 per cent of sales. It has proven resilient during the recession as a result of strong ties to the retail sector – Tesco is the company's largest single customer.

The company's other divisions offer considerable potential. The latest initiative is a joint venture with AW Jenkinson to become the leading supplier of biomass material to power stations.

The market remains a little suspicious of Stobart, partly, perhaps, because it is a company moving so fast. However, the stock has been picking up ground of late and the earnings' presentation on 12 May could refocus attention on the group's potential.

The value of your investment could fall and you may get back less than you invested. You should take professional advice if you have any doubt about the suitability of this company for your portfolio.

Tate & Lyle

454.2p +0.7p

Broker says HOLD

TATE & Lyle is rated as a "Hold" by RBS Equities following the sugar maker's full-year trading update. RBS said: "Cash generation has been stronger than expected. However, we believe the key share-price focus will be news on strategy, which we anticipate with the May results."

HMV

84.55p +0.95p

Broker says HOLD

EXECUTION Noble has kept its "Hold" rating on HMV despite its "lowly valuation and high yield". Analyst Sanjay Vidyarthi said: "A simple valuation exercise would suggest considerable upside to the shares, with yield support a significant consideration. However, the group is becoming more complex and execution risks are increasing."