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Service sector inflation undermines market rally
Thursday 18 Apr 2024We said last week the market faced a test with the US CPI (consumer price index) report and that’s exactly how it turned out, with a third successive hotter-than-expected print sending the S&P 500 index down 2% on the week, its worst five-day performance since last October. As expected, it was...
Can Amazon continue to beat ‘The Street’?
Thursday 18 Apr 2024Tech earnings got off the ground this week but it is over the coming week when the real heavy-hitters report, and few will be as eagerly watched as Amazon (AMZN:NASDAQ) on 25 April. Coming just a couple of weeks after breaking its share-price ceiling to set a new all-time high ($189.05 on 11 April...
What have we learned from the US banks’ first-quarter updates?
Thursday 18 Apr 2024A quick run-through of the first-quarter results from the US banks suggests a clean sweep of better-than-expected revenue and earnings, yet that didn’t translate into a rise in their share prices. First to report was JPMorgan Chase (JPM:NYSE) , which smashed earnings forecasts due to the strong...
What is Microsoft-backed Rubrik, the latest firm to IPO in the US?
Thursday 11 Apr 2024M icrosoft (MSFT:NASDAQ) -backed cybersecurity firm Rubrik (RBRK:NYSE) plans to raise up to $750 million as it becomes the latest company to unveil plans for an IPO (initial public offering) in the US. The roster of companies planning to go public is starting to fill out after two years of relative...
Britvic shareholders left feeling flat as stock price decline continues
Thursday 11 Apr 2024After a strong post-lockdown rebound, soft drink and mixer maker Britvic (BVIC) seems to have well and truly lost its fizz over the last year with the shares slumping to 12-month lows last week. Quite why the market has soured on the £2 billion market-cap firm isn’t obvious, given it has an...
Shareholders in Pinewood Technologies set for bumper special payout
Thursday 11 Apr 2024Although Pinewood Technologies (PINE) , the SAAS (software-as-a-service) provider to motor dealers, may not seem familiar to UK investors at first glance, it is simply the rump of the old Pendragon business following the sale of the UK motor and leasing division to North American dealership group...
Can Dunelm demonstrate there’s no place like home?
Thursday 11 Apr 2024Investors will be hoping for news of a strong start from new spring lines, continued market share gains and growth in active customers when Dunelm (DNLM) delivers its third quarter update on 18 April. The leader in a fragmented UK homewares market, Dunelm will provide a read on the health of the UK...
Can Johnson & Johnson beat first quarter expectations again?
Thursday 11 Apr 2024Healthcare giant Johnson & Johnson (JNJ:NYSE) is expected to report first-quarter earnings on 16 April before the market open. Consensus forecasts call for EPS (earnings per share) of $2.63, a slight fall of 2% compared with the same period in 2023. Over the prior four quarters the company has...
Strong labour market continues to undermine case for Fed rate cuts
Thursday 11 Apr 2024To paraphrase pop singer Britney Spears, ‘oops, it’s done it again’ would probably be a fair response to last week’s US non-farm payrolls which once again blew past expectations and dashed any lingering hopes of an early cut in interest rates. Rather than 214,000 news jobs being added last month...
UK finance officers are bullish which is good news for the economy
Thursday 11 Apr 2024In its latest quarterly survey of UK CFOs (chief financial officers), entitled ‘Turning The Corner’, business advisory group Deloitte paints a picture of the UK corporate scene which will be music to investors’ ears. Optimism among the UK’s largest businesses is running at well above average levels...