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Paramount agrees $28 billion merger with Skydance Media
Thursday 11 Jul 2024US media firm Paramount Global (PARA:NASDAQ) and Californian-based film and TV production company Skydance Media have finally agreed merger terms, opening a new chapter for one of Hollywood’s oldest studios. The $28 billion Paramount-Skydance deal is the culmination of months of on-off talks which...
Political stability in the UK is in stark contrast to uncertainty across the channel
Thursday 11 Jul 2024Election worries have been front and centre for investors in recent weeks, from the increasing popularity of the right-wing RN (Rassemblement National) in France to the panic in the US Democratic Party after president Joe Biden’s disastrous political debate with Donald Trump. By contrast, the UK...
Britvic set for stock market exit after agreeing £3.3 billion Carlsberg buyout
Thursday 11 Jul 2024UK soft drinks maker Britvic (BVIC) looks set to become the latest FTSE 250 mid-cap company to exit the London stock market after agreeing to an improved £3.3 billion offer tabled by Danish brewer Carlsberg (CARL-B:CPH) on 8 July. The deal will see Britvic shareholders receive £12.90 in cash for...
Why French and US elections are the ones really moving markets
Thursday 04 Jul 2024As the UK heads to the polls, it is political events across the Atlantic and the Channel which are really dominating market discourse. In France the first round of voting in parliamentary elections suggested president Emmanuel Macron’s gamble of calling a snap poll last month had backfired. Marine...
Tesla remains under pressure despite modest beat on quarterly deliveries
Thursday 04 Jul 2024The race for pole position in the EV (electric vehicle) market looks to be coming to a head this year with Elon Musk-steered Tesla (TSLA:NASDAQ) on the verge of losing its long-held record of outselling every other manufacturer put together in the US. In the 12 months to the end of May, Tesla sold...
Double upgrade from Jefferies gives Future shares big boost
Thursday 04 Jul 2024Shares in Future (FUTR) accelerated as the media group received a double upgrade from ‘underperform’ to ‘buy’ at investment bank Jefferies. Analyst Oliver Conroy says he expects a return to strong growth in revenue, positive audience trends and further upside from high yielding US direct ad sales...
Nike trips up on outlook warning
Thursday 04 Jul 2024Sportswear firm Nike (NKE:NYSE) has extended the losses it has endured since a big pre-Christmas warning, with the shares now down more than 30% over the last year. A big chunk of those losses came after fourth quarter results on 27 June. While earnings beat Wall Street expectations, thanks to cost...
XPS Group ‘does the double’ with two years of 20% top-line growth
Thursday 27 Jun 2024After reporting record revenue in the year to March 2023, the question for pension consulting and actuarial firm XPS Group (XPS) was ‘how do we follow that?’, as co-chief executive Paul Cuff put it. The answer was go one better, as the results for the year to March 2024 showed: another year of 20%...
Ocado shares hit seven-year low after Canadian partner hits ‘pause’
Thursday 27 Jun 2024Shares in online grocery delivery and technology group Ocado (OCDO) slumped as much as 70p or 20% to 281p on 20 June, taking them to their lowest level in seven years, after Empire Company (EMP.A:TSE) , the owner of Canadian supermarket firm Sobeys, announced it would delay the opening of its...
Is the tide finally turning for retailers?
Thursday 27 Jun 2024According to the ONS (Office for National Statistics), retail sales volumes were much stronger than expected in May, following a wet April, in news which will be welcomed by the sector’s long-suffering constituents. Volumes rose by 2.9%, rebounding from the 1.8% fall witnessed in a washout April,...