Analysts at UBS have lowered their quarterly iPhone and Mac sales forecasts ahead of Apple Inc (NASDAQ:AAPL)'s fourth-quarter earnings due after the market close on Thursday.
They lowered their iPhone forecast by 1% and Mac forecast by 4.7% to reflect soft demand across Apple’s two largest regions, the US and China.
Electronic Arts (EA) is expected to comfortably exceed its second-quarter fiscal 2024 guidance, driven by strong starts for the new EA SPORTS FC games, as well as overly conservative profit guidance, when the digital games maker reports its results after the close on November 1, according to Wedbush analysts.
In an update to clients, the analysts noted they also anticipate a more pronounced beat on the bottom line as the company phases marketing dollars to future periods.
Palo Alto Networks Inc (NYSE:PANW) announced Tuesday it is enhancing its cloud capabilities by acquiring Tel Aviv, Israel-based start-up Dig Security, a provider of Data Security Posture Management (DSPM).
The company said that Dig’s DSPM solution allows organizations to discover, classify, monitor, and protect sensitive data across all cloud data stores, giving Palo Alto’s customers visibility and control of the multi-cloud data estates.
British Airways-owner International Consolidated Airlines Group SA (LSE:IAG) faced a cautious review by Liberum analysts, in spite of last week’s strong third-quarter results.
Although the BA owner had hailed a record third quarter, in which profit jumped 43% on recovering demand, Liberum noted uncertainty remained.
BP PLC (LSE:BP.) third-quarter results were expected to show monster profits but turned out to be a Halloween fright instead.
Was this a ‘kitchen sinking’ exercise before the appointment of a new permanent chief executive – dump all the bad stuff at once to absorb the hit now so a new boss doesn’t have to – or something else?
Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF)’s key catalysts are now coming into view, judging by a research note on the life sciences company published by Stifel today.
The group made strong progress in its latest financial year, including a positive data reading arising from SCIB1’s Phase-2 (SCOPE) trial for advanced melanoma and progress in Phase 1/2 of its Modi-1 clinical trial (ModiFY).
Compass Group PLC (LSE:CPG) shares rose 1.7% on Tuesday and analysts at Bank of America think there is more to come.
The bank has reinstated coverage of the food services firm with a 'buy' rating and a price target of 2,300p, against today’s share price of 2,101p.
Ganfeng, the Hong Kong-listed lithium giant, sent shudders through the battery metals sector as it reported profits had been almost wiped out in its latest three months.
Based in China, Ganfeng said profit fell 98% to CNY159 million as revenues slid 43% to CNY7.54 billion (£6.2 billion).
Times have changed for the once debt-laden Centrica with Citi upgrading its price target due to the British Gas owner having one of the "best balance sheets in the sector".
“Delivering above sector average 8% yield via returns to shareholders (both dividends and buybacks), Centrica shares continue to look attractive in a sector relative context,” added the US bank.
Intercontinental Hotels Group PLC (LSE:IHG) is down 2.7% after JPMorgan downgraded the hotel operator to 'underweight' from 'neutral'.
In a sector review, the bank said it had been “surprised” by IHG's outperformance but now sees the risk-reward as “highly unappealing,” with a bear/bull cases suggesting close to around 20% downside/7% upside to the current share price.
Rolls-Royce Holdings PLC (LSE:RR.) shares soared on the news Barclays analysts had upgraded their view of the manufacturer’s stock, but with the announcement came into view the firm’s upcoming capital markets day.
Due to be held on November 28, the investor meeting will provide chief executive Tufan Erginbilgiç with the opportunity to update on the company’s progress after almost a year in charge.
Hydrogen Utopia International PLC (LSE:HUI, OTCQB:HUIPF) shares took off on Tuesday following a bullish research report from Progressive Equity Research.
Progressive touted Hydrogen Utopia’s strategic acquisition of a 49% stake in medicinal cannabis company Ohrid Organics as a “potential innovative source of financing without having to resort to a dilutive share issue”.
Rolls-Royce Holdings PLC (LSE:RR.) was the top performing stock in the FTSE 100 on Tuesday, rising 4.2% to 210.60p, with Barclays feeling recent weakness in the share price presents a buying opportunity ahead of the November Capital Markets Day (CMD).
The bank pointed out the stock has de-rated by around 10% in the past month, a function it thinks of longer cycle pressure and macro economics.