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Amazon drops a bombshell during bumper US earnings season
Thursday 04 Feb 2021Online shopping giant Amazon dropped the bombshell during the peak of the US earnings season by announcing that chief executive Jeff Bezos will stand aside from the day-to-day running of the company. Andy Jassy, current boss of Amazon’s cloud computing business AWS, will become CEO later this year...
Pfizer sales boost puts vaccine economics under the spotlight
Thursday 04 Feb 2021The price of Covid-19 vaccines have been put under the spotlight after Pfizer said it should generate around $15 billion in sales during 2021 from its Covid-19 vaccine, higher than its previous estimate. Global industry vaccine sales before the pandemic were around $33 billion. AstraZeneca ( AZN )...
Dr. Martens and Moonpig ‘pop’ on market debuts
Thursday 04 Feb 2021Iconic footwear brand Dr. Martens ( DOCS ) and online greetings cards website Moonpig ( MOON ) both enjoyed strong debuts on the UK market. This demonstrates there is strong demand from both institutional and retail investors for initial public offerings (IPOs). Dr. Martens’ shares have risen from...
BP’s big challenge in funding its transition to renewable energy
Thursday 04 Feb 2021Oil major BP ( BP. ) has nailed its colours to the mast: it wants to become a cleaner and greener company over time. However, the problem is that it still derives nearly all of its profit and cash flow from its oil and gas assets. The company’s latest full year results showed output at a four-year...
GameStop loses momentum but is the Reddit movement here to stay?
Thursday 04 Feb 2021It has been a wild couple of weeks in stock market terms as a group of traders on the Reddit social media platform have wreaked havoc by targeting short sellers. At the time of writing, both Gamestop shares and the price of silver – another Reddit ‘target’ – were losing momentum. There are two main...
What you need to know about changes to Bankers and Baillie Gifford European shares
Thursday 04 Feb 2021On the face of it, the share price of Baillie Gifford European Growth ( BGEU ) plunged a whopping 90% this week, but investors shouldn’t be alarmed as the investment trust has actually completed a 10-for-1 stock split. A stock split is where a company divides its existing stock into multiple shares...
Marston’s fights takeover interest from US private equity firm
Thursday 04 Feb 2021Pubs group Marston’s ( MARS ) has rejected three takeover proposals from US private equity firm Platinum Equity at prices ranging between 88p and 105p per share, saying they significantly undervalue the company. Merger and acquisition activity in the pubs sector has been steadily brewing since 2019...
Surge in amateur day traders suggests final stages of market bubble
Thursday 28 Jan 2021Euphoria by US retail investors over certain stocks has raised concerns that we are in the final stages of a stock market bubble. This adds to a list of under-appreciated risks to markets which includes widespread optimism that stocks will continue to rise due to a combination of easy money,...
Terry Smith denies overexposure to highly valued tech firms
Thursday 28 Jan 2021Fundsmith Equity (B41YBW7) manager Terry Smith has taken aim at commentators who have attributed the fund’s good performance to its heavy weighting in technology stocks which benefited from a tailwind last year. It returned 18.3% in 2020 versus 12.3% from the MSCI World Index. While Smith...
Market excitement is building over electric vehicle growth
Thursday 28 Jan 2021UK companies are accelerating their exposure to the rapid growth of electric vehicles (EVs), which showed a big jump in 2020 global sales. More than 3.2 million plug-in hybrid and battery-powered EVs were sold last year, according to data from EVvolumes.com, the Sweden-based consultancy and market...