Logitech International SA (USA) (NASDAQ:LOGI) will release its second quarter fiscal 2024 financial results on Tuesday, October 24 after the market close, and analysts are not expecting to see either top or bottom-line growth from the company.
The maker of technology accessories including keyboards, mice, headphones, and webcams, is expected to report a 21.4% drop in earnings per share (EPS) when compared to the same period in 2022.
Wedbush analysts continue to see overall volume growth rates for payment stocks in the third quarter moderating on a year-over-year basis, while being relatively "flattish" quarter over quarter.
In a note to clients, they highlighted a number of relevant trends including consistent growth moderation in credit purchases as well as credit transactions, a likely reduction in large ticket (discretionary) item sales, continued declines in average ticket prices (credit cards); as well as moderating quarter over quarter growth in travel volumes.
Tesla Inc (NASDAQ:TSLA) delivered uninspiring third-quarter delivery numbers earlier this month, and its shares are down 4.4% Wednesday afternoon with results coming after the bell — but that hasn't stopped Wedbush analysts from looking ahead to a potential fourth-quarter rally.
The firm reiterated its Outperform rating and $350 price target. Shares of Tesla traded 1.1% higher Monday to $253.92.
Japan, the world’s third-largest economy, is "entering a transformational decade" and should deliver some of the best global returns this decade as new mandates from the government and Tokyo stock exchange boost capital allocation and lead to increases in M&A and other strategic activity.
That is the view of investment bank Jefferies put forward in a note hailing a "new paradigm" after three decades of deflation.
Wealth management advisory St James's Place PLC (LSE:STJ) has been forced to slash its exit fees following regulatory pressure from consumer rules.
According to equity research analysts, the change in the wealth manager’s charges will mainly affect short-term earnings, which could “accelerate in the medium term”.
Ocado Group PLC (LSE:OCDO), the grocery technology company, saw its client ICA, the Swedish retailer, shut down one of its e-commerce warehouses, a move which analysts at Barclays feel could dampen sentiment surrounding the stock.
ICA, the leading grocer in Sweden, is closing a warehouse in Gothenburg as part of an alteration to its e-commerce strategy and while this won’t cause any closures of Ocado’s customer fulfilment centres (CFC) it will result in the cessation of its in-store fulfilment (ISF) software at one site.
Shares in Ryanair Holdings PLC and easyJet PLC fell on Wednesday after rival Wizz Air Holdings PLC (AIM:WIZZ) was dealt a downgrade by Citigroup.
Kicking Wizz from its ‘neutral’ to ‘sell’ lists, Citi pointed to future reductions in the airline’s capacity from investigations into potential issues with Pratt & Whitney engines.
Aviva PLC (LSE:AV.)’s plans to become a major player in wealth management look possibly too ambitious, according to analysts at Barclays.
In a presentation yesterday, Amanda Blanc, Aviva’s chief executive, set out a strategy to reach at least £250 billion in wealth assets and at least £280 million in operating profit per annum within the next five years.
Whitbread PLC (LSE:WTB) impressed at its interims and the results have gone down well in the City with shares top of the FTSE 100 risers, up 2.5%.
Jefferies said the results were “strong” with sales a 1.4% beat and adjusted pre-tax profit a 14.5% beat against consensus.
As ASML Holding NV (NASDAQ:ASML) shares fell in Amsterdam and New York pre-market trading on a downgrade of 2024 guidance, Bank of America was looking another year ahead and added the stock as its 'top pick' in the European semiconductor sector.
Other investment banks also saw the reset guidance, where ASML warned that revenues are likely to be flat in 2024 versus its prior guide of “growth”, as a positive turning point.
UK water companies will need to invest £272 billion – three times the sector's current £94 billion existing capital value – to meet commitments on leak reductions and sewage treatment, according to Moody's.
On the basis of the industry’s own forecasts, the credit agency said significant new debt and equity funding will be needed if the sector's plans are to be delivered.
Hostelworld (LSE:HSW) has upgraded its 2023 earnings guidance after generating record annual turnover due to a surge in global bookings, it said in a trading update today.
Now could be a good time to buy shares in the company, according to analysts, who believe there could be further headroom in Hostelworld (LSE:HSW)’s share price, which lifted to 120p per share after a slight uptick this morning.
Shares in Wizz Air Holdings are flying low, down 3.2% at 1,642p after Citi put the stock on its 'sell' list, downgrading from 'neutral'.
"We believe pricing will lose momentum in short haul compared to long haul," the broker said.