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Hipgnosis looks to steady ship with appointment of ex-Roundhill chair after suspending dividends

Thursday 09 Nov 2023

In the latest setback for investors in music royalty fund Hipgnosis Songs Fund (SONG) the company has announced it will not pay a dividend until its new financial year starts on 1 April 2024 (6 November). The move is being taken to preserve cash after October’s shareholder vote against a $440...

Ferrari speeds to fresh highs following another record quarter

Thursday 09 Nov 2023

Shares in Ferrari (RACE:NYSE) accelerated to fresh highs after the luxury automaker revved in (2 November) with forecast-beating third quarter sales and earnings and raised guidance once again, extending one and five-year gains to 68% and 205% respectively. The Italy-headquartered company behind...

Does a strong start to November for shares signal the start of a Santa rally?

Thursday 09 Nov 2023

There have been several notable moves in the markets since the start of the month as US stocks markets chalked-up their biggest weekly gains of the year in the week ending 3 November. The benchmark S&P 500 gained 6% and the technology heavy Nasdaq Composite index was up 6.5%. In Europe and the...

Ball deal and buybacks in focus for BAE Systems amid Middle East conflict

Thursday 09 Nov 2023

It is a hard fact that a more unstable world is typically a driver of orders and ultimately revenue, profit and cash flow for defence companies. Investors will therefore be watching the tenor of BAE Systems’ ( BA. ) third quarter trading update closely on 13 November now the world is facing up to...

Downtrading trend puts Unilever and Reckitt pricing power to the test

Thursday 02 Nov 2023

The GfK consumer confidence index fell nine points from minus 21 to minus 30 in October amid a slowing jobs market and the uncertainty engendered by the Middle East conflict which have dampened the Christmas spending outlook. This consumer squeeze was in evidence in the quarterly volume declines...

US auto strikes deal now has big implications for inflation and Fed policy

Thursday 02 Nov 2023

After seven weeks on strike the UAW (Union of Auto Workers) and the major US auto makers seem to have finally agreed workable deals. Fiat/Chrysler owner Stellantis NV (STLAM:BIT) and Ford Motor Company (F:NYSE) announced deals over the weekend while the last standout General Motors (GM:NYSE)...

What did we learn from the latest round of UK bank earnings?

Thursday 02 Nov 2023

When it came to their third-quarter earnings updates, none of the UK’s ‘Big Four’ high-street lenders could be said to have covered themselves in glory. Shares in Barclays ( BARC ) , HSBC ( HSBA ) , Lloyds ( LLOY ) and NatWest ( NWG ) all declined on the day of their results, regardless of whether...

Ascential shares surge 30% on £1.4 billion divestments to focus on events

Thursday 02 Nov 2023

The market is reacting extremely positively to news of events outfit and information provider Ascential’s ( ASCL ) sale of its digital commerce and product design businesses for a combined £1.4 billion. The digital commerce unit is being offloaded to Omnicom (OMC:NYSE) for £741 million and WGSN –...

Whirlpool shares in a spin amid big questions on white goods margin and earnings outlook

Thursday 02 Nov 2023

Despite strong third quarter results, shares in the world’s leading electrical appliance-maker Whirlpool (WHR:NYSE) tumbled 20% last week to their lowest since the pandemic after the Michigan-based manufacturer lowered its full year earnings target. Revenue and earnings were well ahead of estimates...

Berkshire Hathaway continues to benefit from a strong US economy

Thursday 02 Nov 2023

Investment conglomerate Berkshire Hathaway (BRK.B:NYSE) attracts investor interest in the companies it is buying and selling that is revealed through quarterly 13F filings. These are a regulatory requirement for all firms with more than $100 million in assets under management. At last count on 14...

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