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ASOS shares gain 80% year-to-date on growing turnaround hopes
Thursday 09 Mar 2023While shares in ASOS ( ASC ) are down almost 90% on a five-year view, the once-mighty online fast fashion retailer has rallied 80% so far this year amid a broader retail sector bounce-back driven by the lessening risk of an economic hard landing. ASOS reported a ‘significant improvement in...
Pets at Home has investors purring with 37% share price rally
Thursday 02 Mar 2023Shares in Pets at Home ( PETS ) have scurried 37% higher year-to-date amid a wider retail sector rally off recent lows with household incomes holding up better than feared. But the real catalyst for Pets at Home was the delivery of another earnings upgrade on 31 January, where the UK’s clear pet...
Autodesk stock tanks on margin and free cash flow guidance, wiping out 2023 gains
Thursday 02 Mar 2023Cloud engineering software company Autodesk (ADSK:NASDAQ) gave investors a nasty shock after steering for soggy margins and free cash flow this year. The company specialises in computer-aided design for buildings and is a holding in several global funds. The latest disappointing news came alongside...
Why Telecom Plus shares are down 30% since the start of December
Thursday 02 Mar 2023Utility services supplier Telecom Plus ( TEP ) , which trades as Utility Warehouse, has seen its share price plunge nearly 30% since the start of December. There have been unhelpful headlines for the industry around Centrica ( CNA ) owned British Gas using bailiffs to fit pre-payment meters and an...
Find out why the Fed's preferred inflation measure upset markets
Thursday 02 Mar 2023The latest data (24 February) shows inflation surprisingly accelerated in January as measured by PCE (personal consumption expenditure) the US Federal Reserve’s favourite inflation gauge. This went against expectations for a continued fall and, once again, undermined hopes for a pivot away from...
Latest letter from Buffett underlines importance of owning great businesses
Thursday 02 Mar 2023Investors in Berkshire Hathaway (BRK.B:NYSE) , the investment company led by Warren Buffett and Charlie Munger, will have enjoyed the latest shareholder letter almost as much as they enjoyed the firm’s outperformance last year. In terms of market value per share, Berkshire gained 4% in 2022 against...
Big banks fail to live up to the market’s high expectations
Thursday 23 Feb 2023It hasn’t been a great month for shareholders in the UK’s largest lenders, as almost all have lost ground after reporting their full-year 2022 results. There were some bright spots in the numbers for Lloyds Banking ( LLOY ) on 22 February but its share buyback – pitched at £2 billion or roughly 6%...
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...