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Analysts cautious after a 50% AI-driven rally in Salesforce shares
Thursday 24 Aug 2023Riding the wave of frenzied interest in artificial intelligence and its potential to provide the next catalyst for growth, Salesforce (CRM:NYSE) stock has been hot this year, up more than 50% to date. But maybe Wall Street is getting a little too upbeat, at least in the short-term, with some...
Pod Point powers down but hopes change at the top can recharge the shares
Thursday 17 Aug 2023There was some excitement when EV (electric vehicle) charging play Pod Point ( PODP ) joined the stock market in 2021. At the time Shares expressed concerns about a lofty valuation, limited visibility on its road to profit and a competitive marketplace. These reservations have proved to be...
Top fund managers continue to back the UK consumer amid record wage growth
Thursday 17 Aug 2023Recent weeks have seen a couple of encouraging economic data points for investors betting on the resilience of the UK consumer. Second-quarter GDP (gross domestic product) grew at a faster rate than expected, even as interest rates have risen, pushing up mortgage costs on top of rising food and...
Two potential UK winners from the Tapestry-Capri luxury mega-merger
Thursday 17 Aug 2023Coach, Kate Spade and Stuart Weitzman brands owner Tapestry (TPR:NYSE) has agreed to buy Versace, Michael Kors and Jimmy Choo parent Capri (CPRI:NYSE) in an $8.5 billion (£6.7 billion) tie-up between the two American fashion houses. Slated to close by the end of 2024, the mega-merger should create...
Big breakthroughs on obesity and Alzheimer's make Eli Lilly world’s largest pharma firm
Thursday 17 Aug 2023Shares in pharmaceutical giant Eli Lilly (LLY:NYSE) have put in an outstanding performance over the last 12 months rising 71.4% to the $539 mark to become the world’s largest drugmaker by market value. Much of the excitement around the stock has been driven by new treatments for two of the globe’s...
Fresh ‘Spot The Dog’ research reveals big increase in funds failing to deliver for investors
Thursday 17 Aug 2023Newly published research names and shames the funds which have failed to deliver for investors over three consecutive 12-month periods. The latest ‘Spot The Dog’ report has identified 56 equity funds as serious and persistent underperformers – a 27% increase on 44 dog funds exposed in the last...
Marks & Spencer share price at highest level since January 2022
Thursday 10 Aug 2023Investors are finally buying into the story that Marks & Spencer ( MKS ) is fit for the modern world. Its shares have more than doubled in price since last October and now trade at their highest level since January 2022. Chairman Archie Norman wrote in this year’s annual report: ‘Of all the...
Investors are proving to be wary about new US float SharkNinja – here's why
Thursday 10 Aug 2023Spun-out from Hong Kong’s JS Global Lifestyle (1691:HKG) , household appliance innovator SharkNinja (SN:NYSE) is an interesting addition to the public markets and the shares surged on their New York Stock Exchange debut (31 July) in an early feeding frenzy. But SharkNinja’s shares then sank below...
Why forecasters are dumping US recession predictions en masse
Thursday 10 Aug 2023Increasing numbers of forecasters are now predicting that the US economy will not suffer a recession this year, even in the face of US debt being downgraded. Fitch Ratings downgraded its US debt rating on 1 August from the highest AAA rating to AA+, citing ‘a steady deterioration in standards of...
What do Wilko’s woes mean for retail property shares?
Thursday 10 Aug 2023In news that surprised everyone from shoppers to investors, general retailer Wilko announced in early August it had filed a ‘notice of intention’ to appoint administrators due to mounting cash pressures on the business. The firm, whose stores are a feature on most UK high streets, is reportedly...