All eyes on earnings and dividends as housebuilders report next month

Investors will be hoping activity picks up and payouts are at least maintained

After analysts at Deutsche Bank recently cut their recommendations on four leading housebuilders, investors will be keen to hear from Persimmon (PSN) and Taylor Wimpey (TW.).

Persimmon, which reports full-year earnings on 1 March, revealed in November it had seen cancellation rates spike as high as 28%, putting its full year completions target in question.

The firm also confirmed it had ended its capital return programme and would reveal its new dividend policy to shareholders with its results.

Taylor Wimpey, which reports the following day, said cancellation rates spiked to 23% in the second half of last year, while net private reservations were down nearly 45% on 2021, although it made no comment on its dividend policy. [IC]

ITV's new streaming service is set to take the spotlight

Free-to-air broadcaster will update on ITVX platform

When ITV (ITV) reports its full year numbers on 2 March a lot of focus will be on the performance of its new streaming platform ITVX – its answer to the growth of streaming and structural decline of linear television.

Unveiled to widespread investor scepticism a year ago and launched in December 2022, the platform got off to a decent start thanks to a winter World Cup. The free ad-funded streaming service delivered a 55% increase in streaming hours in the first month after launch compared with the same period a year ago. Exclusive content on the platform was said to have performed well.

Shore Capital analyst Roddy Davidson is positive on the appeal of free-to-air platforms with deep content at a time when consumers seem set to scrutinise their commitment to subscription services. [TS]

Price war brewing as Rivian set to announce record losses

EV start-up under all kinds of pressure amid robust competition

Already grappling with falling cash reserves and a weak economy, electric vehicle start-up Rivian (RIVN:NASDAQ) is now bracing
for what may be an industry-wide price war.

Revenue for the three months to 31 December 2022, due on 28 February, are expected see rough $729 million sales, 28% higher than the previous quarter and up from $60.5 million a year ago, but analysts are projecting its biggest ever loss per share of $1.96. In September, Rivian had $13.3 billion in cash, down from over $18 billion a year earlier. [SF]

Can activists help Salesforce turn round its flagging performance?

The cloud-based software company hired too many staff heading into an economic downturn

Sales growth at Marc Benioff-bossed Salesforce (CRM:NYSE) has slowed significantly over recent quarters and investors will be are concerned to see how demand is holding up when the cloud-based software company posts fourth quarter and full year earnings on 1 March.

Following a rough period for the shares, the acquisitive customer relationship management software giant has rallied 23% year-to-date on hopes five known activists including Elliott Management, Inclusive Capital Partners, Starboard Value and Third Point can help improve the group’s performance.

In January Salesforce, the leading player in front office digital transformation for large enterprises, announced it would lay off 10% of its workforce and cut office space in some markets in a bid to turn around performance, having taken on too many people during the pandemic and ahead of a downturn. [JC]

UK UPDATES OVER THE NEXT 7 DAYS

FULL-YEAR RESULTS

24 February: International Consolidated Airlines, Jupiter Fund Management

27 February: Centralnic, Globaldata, Greencoat Renewables, RHI Magnesita, Senior

28 February: Abrdn, Croda, Derwent London, HUTCHMED, Intertek, Kitwave, Man Group, Morgan Advanced Materials, Ocado, Rotork, St James’s Place, Travis Perkins, Uniphar, Unite, Videndum, XP Power

1 March: Aston Martin Lagonda, Capital & Counties Properties, Getbusy, Nichols, Persimmon, Rathbones, Reckitt Benckiser

2 March: Alfa Financial Software, Beazley, Cairn Homes, Capita, Capital & Regional, Coats, CRH, Flutter Entertainment, Grafton, Hunting, London Stock Exchange Group, Melrose Industries, National Express, PPHE Hotel, Schroders, Spire Healthcare, Synthomer, Taylor Wimpey, Tritax Big Box REIT, Tyman

HALF-YEAR RESULTS

24 February: CVS

27 February: Dechra Pharmaceuticals

28 February: Bluefield Solar Income, Mcbride

1 March: Haydale Graphene Industries

TRADING UPDATES

27 February: Associated British Foods

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

27 February: Berkshire Hathaway, Occidental, Workday

28 February: Autozone, HP, Target, Verisk

1 March: Lowe’s, Monster Beverage, Salesforce

2 March: AMC Entertainment, Hewlett Packard Enterprise

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