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How US retail titans Walmart and Home Depot disappointed investors
Thursday 23 Feb 2023US retail sales figures for January proved strong across the board and supported the rosy view the American consumer can remain resilient in the face of inflation, rising interest rates and dwindling pandemic savings. According to the Commerce Department, retail sales for the month grew by 3%,...
Darktrace calls in EY as it mounts fight against big fraud claims
Thursday 23 Feb 2023Cybersecurity firm Darktrace ( DARK ) has called in independent audit firm EY in response to stinging criticism of the business and its financials by short seller Quintessential Capital Management in late January. Darktrace saw its share price fall nearly 20% in the immediate aftermath of QCM’s...
Why billionaire Ken Griffin is backing the Boohoo recovery plan
Thursday 23 Feb 2023US-based hedge fund Citadel has upped its stake in Boohoo ( BOO:AIM ) from 5.3% to 8.9% in a show of confidence in the online fashion retailer’s turnaround potential. Citadel is majority-owned by billionaire founder and CEO Ken Griffin, so the stake-building demonstrates smart money still sees...
LADbible owner LBG Media more than doubles after strong trading and broker optimism
Thursday 23 Feb 2023A well-timed positive note from Liberum at the end of November 2022 and a strong year-end trading statement (19 December) have helped propel shares in LADbible parent and diversified youth publisher LBG Media ( LBG:AIM ) up more than 120% in just two months to 115p. The company said revenue...
Trainline shares down 30% in six months with recovery derailed by strikes
Thursday 23 Feb 2023Shares in Trainline ( TRN ) have fallen almost 30% over the past six months with the train tickets platform’s hoped-for recovery derailed by industrial action. The rail strikes, which began last autumn, continued into winter and show few signs of letting up as Mick Lynch and the RMT union trade...
Coca-Cola serves up revenue beat while faster growth is stirring at Keurig Dr Pepper
Thursday 16 Feb 2023C oca-Cola’s (KO:NYSE) shares rose 2% to $60.60 on 14 February after the beverages group served up fourth quarter revenue ahead of Wall Street expectations, as thirsty consumers continued to swallow price hikes across its formidable portfolio of drinks. Despite what chief executive James Quincey...
AstraZeneca boasts record share price high with big plans to deliver new drugs
Thursday 16 Feb 2023Shares in the UK’s largest listed company AstraZeneca ( AZN ) last month hit a new all-time high at £118.02 and its latest update suggests everything is going well for the business. Fourth quarter and full-year results published on 9 February beat market estimates and came in towards the top end of...
Lyft in name only as quarterly loss stuns investors
Thursday 16 Feb 2023Investors have been encouraged by many technology companies now having a sharper focus on growing profits rather than simply chasing growth at any price, but ride-hailing app Lyft (LYFT:NASDAQ) seems to have missed the memo. The San Francisco-based company posted its worst one-day share price fall...
How an averted gas crisis could help Europe avoid a recession
Thursday 16 Feb 2023The latest projection from the European Commission is the Eurozone will avoid a recession in 2023, partially because the gas crisis has eased. The benchmark for European gas is the Dutch TTF. Last month it traded at €55, below its levels before Russia’s invasion of Ukraine. Europe’s ability to wean...
Risk-hungry investors drive Metro Bank shares to 12-month highs
Thursday 16 Feb 2023Traders who took a punt on ‘challenger’ lender Metro Bank ( MTRO ) at 70p in October last year, just ahead of its third-quarter trading update, will be high-fiving themselves this week. With a fortnight to go before it reports full-year earnings on 2 March, the shares have more than doubled in...