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Grocery delivery platform Instacart files $24 billion IPO on the quiet

Thursday 19 May 2022

San Francisco-based Instacart has submitted draft plans to list its shares on Wall Street. While the company has not given an explicit timeline, some analysts believe it could happen before the end of 2022. Instacart, which runs a grocery delivery platform, saw growth explode during the pandemic...

Imperial Brands maintains the positive momentum behind the tobacco sector

Thursday 19 May 2022

Cigarette manufacturer Imperial Brands’ ( IMB ) latest first-half results help explain why tobacco has been among the best performing sectors year-to-date. While the company took a £225 million hit to profit associated with its exit from Russia, investors were more interested in heated tobacco and...

Retail warnings do not bode well for Marks & Spencer’s results

Thursday 12 May 2022

The market is increasingly concerned about the outlook for Marks & Spencer ( MKS ) ahead of the retail bellwether’s full year results on 25 May, judging by a 42% year-to-date share price decline. Investors should prepare themselves for potential news of disappointing recent sales and a downbeat...

Private equity is now casting its eyes over a sold-off UK tech sector

Thursday 12 May 2022

The massive sell-off of technology growth stocks in 2022 to date may see an acceleration of opportunistic buyouts from private equity funds flush with cash. On 9 May, compliance and regulation software supplier Ideagen ( IDEA:AIM ) agreed a takeover deal from private equity outfit firm Hg worth £1...

Investors will be hoping for a bumper crop from Deere’s next results

Thursday 12 May 2022

Next Friday (20 May) sees the much-anticipated release of second quarter earnings from iconic US tractor maker Deere & Co (DE:NYSE) . After a strong first quarter to the end of January, when the firm beat estimates for both revenue and earnings by some margin and chief executive John C. May...

Shell’s dividends look safe despite windfall tax talk

Thursday 12 May 2022

Based on consensus forecasts Shell ( SHEL ) offers a 3.7% prospective dividend yield for 2022. Once you also factor in share buybacks, investment bank Berenberg has forecast the highest returns for the company’s shareholders in a decade. But how safe are these returns of capital given the pressure...

UK bank shares hit by concerns over the economy

Thursday 05 May 2022

The key takeout from the UK banks’ first quarter earnings season is that the market is more focused on a deteriorating credit cycle than the fact reported earnings exceeded forecasts. This was reflected in languishing share prices for companies apart from emerging markets-focused Standard Chartered...

Tesla shareholders are the losers from Elon Musk’s plan to buy Twitter

Thursday 05 May 2022

Investors are calculating the risks to Tesla (TSLA:NASDAQ) as Elon Musk tries to woo financial backers for his acquisition of social media network Twitter (TWTR:NYSE) . The omens are not encouraging for investors who own shares in the electric vehicle and renewable energy company. Twitter...

BP’s best underlying profit in a decade will only add to windfall tax calls

Thursday 05 May 2022

Even $20.4 billion worth of write-offs linked to BP’s (BP) exit from Russia couldn’t obscure the strong first quarter enjoyed by the company. The non-cash impairments principally linked to BP’s investment in Russian oil producer Rosneft may have been hefty but the UK oil company’s underlying net...

Novacyt faces £134.6 million NHS legal claim

Thursday 28 Apr 2022

Shares in international specialist diagnostics company Novacyt ( NCYT:AIM ) came under further pressure (26 Apr) after it received a claim of £134.6 million from the DHSC (Department of Health and Social Care). The shares dropped 12% to 167p on the news and languish around 85% below the highs...

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