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Diageo and Richemont disappoint investors as luxury sales growth slowdown continues
Thursday 16 Nov 2023Global spirits leader Diageo’s ( DGE ) shares plunged last week after the Johnnie Walker whisky maker warned on first half profits amid worsening sales in the Latin American and Caribbean region, where macroeconomic pressures have resulted in lower consumption and ‘consumer downtrading’. Diageo’s...
Arm’s shares have given up all the gains made immediately after its IPO
Thursday 16 Nov 2023Retail investors hoping to make big gains from investing in Arm (ARM:NASDAQ) have stomached the first setback from the company since its return to the stock market two months ago. The UK chip architecture designer Arm, which listed ADRs (American Depository Receipts) on US exchange Nasdaq at $51 in...
$31 billion marketing tech group Trade Desk slumps on Q4 guidance
Thursday 16 Nov 2023Highly rated growth stocks are experiencing big share price declines on the mere hint of a sales and earnings slowdown which explains why $31 billion marketing technology company Trade Desk (TTD:NASDAQ) slumped after it cut fourth quarter guidance. The stock has fallen 21% since publishing third...
Apple wins over jumpy investors despite China growth worries
Thursday 09 Nov 2023Technology giant Apple (AAPL:NASDAQ) saw its growth credentials fall under the microscope after reporting fourth quarter financial results (2 November) as its sales declined for a fourth straight quarter, the longest slide in more than two decades. The Cupertino colossus may have topped forecasts...
Fortinet slumps nearly 20% on weak revenue and outlook
Thursday 09 Nov 2023Shares in US cybersecurity firm Fortinet (FTNT:NASDAQ) plunged 18% after disappointing both on revenue and on the outlook with its third quarter update. Fortinet has 680,000 global customers and sells a complete cybersecurity package on a subscription basis. This includes firewalls and risk-...
Hipgnosis looks to steady ship with appointment of ex-Roundhill chair after suspending dividends
Thursday 09 Nov 2023In 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 2023Shares 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 2023There 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 2023It 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 2023The 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...