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Rightmove shares endure a big hit as US real estate giant CoStar agrees OnTheMarket deal
Thursday 26 Oct 2023Shares in property listings site Rightmove ( RMV ) have taken a battering since US real estate giant CoStar (CSGP:NYSE) announced a £99 million all-cash offer for rival OnTheMarket ( OTMP:AIM ) . The US real estate giant intends to turn OnTheMarket into a ‘market leader’ which could put pressure on...
Margins may hold the key to PayPal recovery
Thursday 26 Oct 2023If global lockdowns were a win for PayPal (PYPL:NASDAQ) , reopening has been a catastrophe. Since peaking at near-$310 in July 2021, shares in the digital payments platform have sunk to levels not seen since 2017, a staggering fall from grace. Underwhelming margins have been analysts’ chief worry...
Grocery chain Sainsbury’s needs to deliver on earnings and guidance
Thursday 26 Oct 2023Interestingly, as we head into supermarket chain Sainsbury’s ( SBRY ) first-half results on 2 November, the group’s shares are trading just above their lows of the last six months. In contrast, shares in grocery market leader Tesco ( TSCO ) are trading just below their high for the year after the...
Why investors are excited about upcoming big tech results
Thursday 19 Oct 2023The next set of quarterly earnings from mega cap technology companies including key members of the so-called ‘Magnificent Seven’ could have a major influence on the direction of markets heading into the final months of 2023. Investors will be hoping these tech titans have maintained their positive...
Hipgnosis Songs Fund at all-time low ahead of big vote on 26 October
Thursday 19 Oct 2023Shares in music royalty firm Hipgnosis Songs Fund (SONG) have suffered a dramatic fall from grace, now trading at an all-time low of 66p. Its future is in the hands of shareholders who will vote on 26 October on whether the investment trust should continue or be wound up. Having angered...
Coca-Cola shares have been weak heading into third-quarter earnings
Thursday 19 Oct 2023Soft-drinks giant Coca-Cola (KO:NYSE) releases third quarter earnings on 24 October with consensus earnings per share expected to be flat against the prior year at $0.69. The company raised annual sales and profit guidance on 26 July after beating analysts’ second quarter estimates. Over the last...
Pfizer hit by lower Covid vaccine demand but Novo Nordisk soars on weight-loss boost
Thursday 19 Oct 2023The number of people suffering from Covid might be on the rise, but vaccine providers are not doing as well as expected. America pharmaceutical group Pfizer (PFE:NYSE) sent a chill across the healthcare sector on 13 October after slashing full year revenue guidance by 13% and announcing $3.5...
Computacenter shares still on a roll after upbeat financial results two months ago
Thursday 19 Oct 2023IT infrastructure supplier and reseller Computacenter ( CCC ) has seen its shares rise 30% over the past two months. The trigger for the rally was the publication of half-year results on 7 September which saw Computacenter report 13.9% growth in adjusted pre-tax profit to £122.8 million and strong...
What do the latest US banking results tell us about the economy and markets?
Thursday 19 Oct 2023As usual with the US quarterly earnings season, the ‘Big Four’ banks have kicked off proceedings giving us an insight into the health of consumers and businesses and the state of the financial markets. First out of the blocks was JPMorgan Chase (JPM:NYSE) , the world’s largest bank by market value...
Markets buffeted by strong US job gains and Israel attacks
Thursday 12 Oct 2023Stocks across the Atlantic surprised in the wake of the 6 October US jobs report as they registered their largest daily gains since late August, snapping a four-week losing streak. Bond yields, which had surged earlier in the day to their highest since 2007, backed off giving some respite to risk...