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ITV up 30% as streaming platform proves its worth
Thursday 16 May 2024Shares in ITV (ITV) have advanced nearly 30% over the past six months as the free-to-air broadcaster has found success with its on-demand streaming service ITVX. Total streaming hours were up 16% in the first quarter and digital advertising revenues grew by 14%. The company said ITVX’s monthly...
UK IPO market hots-up after Shein accelerates plans for London listing
Thursday 16 May 2024Companies tend to list on the stock market when conditions look ripe for a healthy reception from investors so as to get a deal away at the best price. After a fallow period for IPOs (initial public offerings) in 2022/23, activity appears to be gathering pace buoyed by the FTSE 100 and FTSE All-...
UK takeovers and premiums back to record levels of 2018
Thursday 16 May 2024One of the factors undoubtedly helping lift the UK stock market to new highs this year is an upturn in M&A (merger and acquisition) activity. According to Dealogic, the value of UK takeovers so far in 2024 is more than $78 billion, the highest level since 2018, as overseas buyers in particular...
Intel dealt Huawei blow by US government
Thursday 16 May 2024This year has been a struggle for Intel (INTC:NASDAQ) – investors don’t seem to be buying the optimism the chip firm has spun around its PC and data centre business, while it has thus far failed miserably when it comes to convincing the market it hasn’t missed the AI (artificial intelligence) boat...
Bruised Palo Alto investors praying for improvement
Thursday 16 May 2024Investors got seriously spooked back in February 2024 when Palo Alto Networks (PANW:NASDAQ) lowered revenue and billings guidance for fiscal year 2024 (to 31 May), causing analysts to lower forecasts and price targets. Palo Alto stock tanked, losing nearly 30% in a day, a savage reckoning after...
Sky-high expectations leave no room for earnings disappointment
Thursday 16 May 2024Have US equity expectations run ahead of themselves? Certainly, for some companies, the answer seems to be yes. One of the features of second-quarter earnings season has been the number of companies that have met or ever beaten revenue and earnings expectations yet have cost share prices and...
HSBC hits multi-year high on profit beat and new buyback
Thursday 09 May 2024Shares in global banking group HSBC (HSBA) hit a five-year peak of 700p last week after the Asia-focused lender said first-quarter net interest income dipped 3% to $8.65 billion, beating market forecasts of $8.5 billion. Pre-tax profit of $12.65 billion, down around 2% on last year, also beat the...
Why competition in the market for obesity drugs just got tougher
Thursday 09 May 2024The emerging battle for market share in the lucrative obesity market, which analysts at Goldman Sachs estimate could be worth more than $100 billion by 2030, is starting to heat up. Sales of market-leading weight-loss drug Wegovy more than doubled to around £1 billion in the first quarter of 2024,...
Shares in coffeehouse colossus Starbucks plunge 16% after earnings miss
Thursday 09 May 2024Are consumers starting to push back on their pricey skinny lattes in response to higher interest rates and cost-of-living pressures? It’s a key question for analysts and investors in Starbucks (SBUX:NASDAQ) after the Seattle-headquartered coffeehouse colossus posted a second-quarter earnings and...
Why Berkshire Hathaway trimmed Apple stake as Q1 profit jumps 39%
Thursday 09 May 2024The pilgrimage to Omaha for Berkshire Hathaway’s (BRK-B:NYSE) annual shareholder meeting had a tinge of poignancy this year following the passing of Warren Buffett’s long-term business partner and vice-chair Charlie Munger in November 2023. In memory of the ‘abominable no-man’, as Buffett sometimes...