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Shock departure of Intel CEO Gelsinger leaves struggling chip maker rudderless
Thursday 05 Dec 2024Silicon Valley giant Intel (INTC:NASDAQ) is facing more upheaval after announcing the unexpected retirement of chief executive officer, Pat Gelsinger. Effective immediately, the decision marks a significant shakeup for the chip maker as it grapples with ongoing challenges and competitive pressures...
TI Fluid Systems finally bows to pressure from ABC
Thursday 05 Dec 2024Automotive fluid storage and delivery specialist TI Fluid Systems (TIFS) became another statistic last week in the seemingly unstoppable wave of UK M&A (mergers and acquisitions). Having spurned two lower bids from Apollo-backed ABC Technologies, the auto parts-maker finally agreed a 200p per...
Why markets welcomed Scott Bessent as Treasury secretary
Thursday 28 Nov 2024US stock and bond prices moved higher on 25 November after president-elect Donald Trump revealed his pick for Treasury secretary was hedge fund manager Scott Bessent. The reaction was partly relief that Trump opted for a market savvy individual and a ‘safe pair of hands’ rather than someone with...
JD Sports slumps to two-year low as sales disappoint
Thursday 28 Nov 2024Recent downward momentum in JD Sports Fashion (JD.) has been exacerbated by the company’s latest disappointing update. The firm announced on 21 November it now expects pre-tax profit for the year to January 2025 to be at the lower end of its original £955 million to £1.035 billion guidance range,...
How Imperial Brands shares hit a new five-year high
Thursday 28 Nov 2024Shares in multi-national tobacco company Imperial Brands (IMB) recently hit a new five-year high (25 November) of £25.64 despite a push by governments around the world to crack down on the number of people smoking and vaping. Year-to-date the shares have gained 41% outperforming three of the ‘...
Salesforce tries to strike a balance between revenue growth and margins
Thursday 28 Nov 2024A global enterprise applications gorilla, Salesforce (CRM:NYSE) has spent 2024 (and 2023) trying to rebuild profit margins after activist investor StarboardValue started kicking up a stink. Net profit margins had sunk to low single digits during the pandemic, which might be understandable, but why...
Unilever confirms ice cream IPO and productivity programme remain on track
Thursday 28 Nov 2024Consumer goods goliath Unilever (ULVR) is pushing ahead with the IPO (initial public offering) of its ice cream unit and plans to slim down rather than spin off its food division, as CEO Hein Schumacher’s turnaround strategy continues to gain traction. At the FTSE 100 giant’s recent investor event...
Baillie Gifford-managed Edinburgh Worldwide plans up to £130 million capital return
Thursday 28 Nov 2024E dinburgh Worldwide Investment Trust (EWI) surprised the market this week when it announced it had developed ‘a comprehensive action plan to improve execution’ and would return up to £130 million of capital to shareholders next year. ‘Our vision, to identify and manage a carefully selected...
Look out for an update on bookings momentum alongside On The Beach results
Thursday 28 Nov 2024There is quite a lot for investors to look out for when online package holiday provider On The Beach (OTB) reports full-year results on 3 December. First up will be bookings since the end of its financial year on 30 September. Are people still making holidays a priority despite continuing pressure...
Chancellor’s drive for ‘mega-funds’ could create ‘mega-challenges’
Thursday 21 Nov 2024At least week’s inaugural Mansion House speech, new chancellor Rachel Reeves announced what she called ‘the biggest set of reforms to the pensions market in decades’ with the plan to merge local government pension schemes (LPGS) into a series of ‘megafunds’ along the lines of Australia’s ‘supers’...