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Why consumer health spin-out Kenvue climbed in strong market debut
Thursday 11 May 2023The consumer health spin-out from Johnson & Johnson (JNJ:NYSE) , Kenvue (KVUE:NYSE) enjoyed a positive stock market debut on 4 May, with shares in the company surging 22% to $26.90 in a move valuing the business at about $50 billion. Behind iconic brands rooted in science including Listerine...
Cloud computing, not artificial intelligence, is what’s really driving big tech earnings
Thursday 04 May 2023The rise of artificial intelligence or AI has got everyone talking about the big tech companies, but it looks like cloud computing revenue and profit will remain the key drivers of growth for some time. The latest quarterly results from Microsoft (MSFT:NASDAQ) , Alphabet (GOOG:NASDAQ) and Amazon (...
HSBC shares leap as profits triple and firm announces $2 billion buyback
Thursday 04 May 2023After a mixed reception to UK bank earnings in recent days – with shares in Barclays ( BARC ) up more than 5% while NatWest ( NWG ) shares fell nearly 4% – investors were unsure what to expect when Europe’s biggest lender by market value, HSBC ( HSBA ) , reported its results on 2 May. In the event...
Meta Platforms’ shares continue to soar on AI hype and cost cuts
Thursday 04 May 2023Facebook, WhatsApp and Instagram-parent Meta Platforms (META:NASDAQ) continues to see its share price move higher, luring investors back to its growth story at pace. The shares were among the strongest S&P 500 performers during the past week, rallying 15% but this is only part of a near-175%...
Shares in Ocado are down 44% in 12 months as the company closes key facility
Thursday 04 May 2023Unwelcome news follows more unwelcome news for online grocery specialist Ocado ( OCDO ) . Back in February the company reported half a billion-pound loss for 2022 and warned that basket sizes in its UK retail joint venture with Marks & Spencer ( MKS ) were shrinking. Over the past year, its...
Could the sustained rise in food prices become a political issue?
Thursday 04 May 2023In the words of Paul Donovan, UBS’s chief economist who is not known for mincing his words, like Fight Club, the first rule of price gouging is you do not talk about price gouging. ‘The profit-led inflation story has been fueled by corporate results showing profit-led inflation. As these stories...
Optimism emerges that microchip equipment sales to China will ramp up in 2023
Thursday 27 Apr 2023Computer chipmaking equipment suppliers ASML (ASML:AMS) and Lam Research (LRCX:NASDAQ) remain hopeful that sales to China will ramp up later this year, despite US export controls on advanced microchip technology. The world’s two largest economies remain at loggerheads over advanced technology, with...
Investors continue to be hungry for Hershey’s shares
Thursday 27 Apr 2023Shares in snack products group Hershey (HSY:NYSE) have risen 22% to $261.40 since late January, propelled by well-received results in early February which beat market expectations at both the revenue and earnings per share lines. Importantly, demand remained ‘steady’ despite pushing up prices,...
The rate of small and mid-cap companies leaving the market is accelerating
Thursday 27 Apr 2023It seems barely a week goes by without a UK firm falling prey to an opportunistic takeover approach. Typically, the bidders are non-UK and the targets are small and mid-cap companies. Many UK stocks trade on cheap valuations and unless the market recognises their attractions and bids up the price,...
Liontrust slumps nearly 20% in a month as GAM deal mooted
Thursday 27 Apr 2023Shares in growth-orientated asset manager Liontrust Asset Management ( LIO ) have fallen by nearly 20% in a month, with the stock losses exacerbated by news it might be interested in buying Swiss rival GAM. Whether this suggests shareholder aversion to such a deal or is merely a reaction to the...