Draftkings Inc (NASDAQ:DKNG) has announced several changes to its senior leadership team which have been viewed as positive by analysts at Jefferies.
The fantasy sports contest and sports betting company has appointed its current chief financial officer Jason Park as chief transformation officer, effective May 1, 2024. In this role, he will lead initiatives to deploy new technologies to drive operating improvement and oversee the integration of Jackpocket, a leading lottery app in the US being acquired by DraftKings for $750 million.
Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) is on track to achieve profitability having secured funding and new orders for its intelligent maritime solutions, analysts at Water Tower Research have highlighted following the release of OPT’s fiscal third quarter earnings report.
The analysts highlighted that in January 2024, OPT received approximately $1.2 million through the New Jersey Economic Development Authority’s program, which allows companies to sell unused tax credits to generate cash.
Microsoft Corp (NASDAQ:MSFT)’s artificial intelligence Security Copilot is unlikely to change the competitive landscape of the sector just yet, UBS analysts have said ahead of its April 1 launch.
According to the bank, the cybersecurity software does not yet look more capable than rivals, such as CrowdStrike's Charlotte or SentinelOne's PurpleAI.
The Bank of Canada is seen cutting interest rates ahead of the Fed in the US, analysts at the Bank of America believe, after Canada’s February inflation reading surprised to the downside once again.
Statistics Canada said on Tuesday that Canada’s Consumer Price Index (CPI) rose 2.8% year-over-year in February, down from 2.9% in January and below economists' estimates of 3.1%. Month-over-month, inflation rose 0.3%, less than the 0.6% expected.
Boeing Co (NYSE:BA, ETR:BCO) shares are trading down nearly 30% in the year-to-date and at just 11 times the airplane manufacturer’s $10 billion free cash flow target, making now a good opportunity to buy the stock according to analysts at UBS.
“New aircraft demand remains at record levels, supply challenges create an undersupplied market for years to come, and Airbus has limited capacity to further expand market share,” the analysts wrote in a note to clients.
As several London-listed investment trusts with a global and a technology focus have high exposure to the 'Magnificent Seven' US tech giants, broker Stifel warned that it was wary of a potential bubble and the dramatic potential consequences for these funds.
Scottish Mortgage Investment Trust PLC (LSE:SMT) and JPMorgan Global Growth & Income are the global trusts with the biggest exposure to 'Mag 7' stocks – Google owner Alphabet, Amazon, Apple, Facebook owner Meta Platforms, Microsoft, NVIDIA and Tesla – with over 20% of portfolio net asset value exposure.
Rentokil Initial PLC's (LSE:RTO) results earlier this month are exterminating some of the worries about its acquisition of Terminix in the US, said brokerage Stifel, but the most risky period is coming in the second half of 2024.
In October, shares in the pest control group, which generates around half of its revenue in the US, plunged after it warned that softer trading in North America would mean performance would be “marginally” below previous expectations.
Wickes Group PLC (LSE:WIX) “continues to demonstrate an ability to take market share in its Local Trade and DIY verticals”, but persistent cost pressures have forced analysts at Panmure Gordon to downwardly revise the home improvement retailer’s profit guidance for the year ahead.
Panmure now expects Wickes to finish with £43.6 million in profit before tax, down from prior guidance of £47 million.
Jefferies has issued a 'buy' recommendation for Whitbread PLC (LSE:WTB) with a price target of £42, indicating a potential upside of 31% from its current price of £32.12.
This optimistic outlook is grounded on Whitbread's recent performance and prospects, especially considering the Smith Travel Research (STR) data for February, which showed mixed results for the mid-scale hotel market in company's key markets - the UK and Germany.
Citi has updated its forecasts and repeated its 'buy' advice on shares in Melrose Industries PLC, interpreting any market weakness as an opportune moment for investors to purchase shares.
In the wake of the engineer's prelims, the American investment bank addressed key concerns from investors, reinforcing the belief that Melrose presented a strong performance and is on course to meet or surpass its financial guidance for 2025.
Reckitt Benckiser Group PLC's (LSE:RKT, ETR:3RB) shares continue to suffer amid a series of legal challenges related to its baby formula products.
The company is facing litigation and significant financial penalties due to allegations surrounding the safety and marketing of its infant nutrition products.
Unilever PLC's (LSE:ULVR) plan to scoop out its Ben & Jerry's, Walls and Magnum ice cream division as a separately listed company is a "clear positive step" towards making the company grow faster, said analysts at Barclays, and could bring questions about other parts of the conglomerate.
The fourth-largest group in the FTSE 100 said on Tuesday morning that it plans to dispose of the ice cream business, most likely as a standalone company but with other options on the table too.
Shares in Trustpilot Group PLC (LSE:TRST) hit a two-year high after the online reviews gatherer posted annual results in line with expectations and continued green shoots in North America.
In line with a trading update in January, revenue for 2023 of US$176 million was up 18% on the prior year and adjusted earnings (EBITDA) came in at US$15.5 million compared to a loss of US$4.4 million last time, beating analyst expectations.
Shares in Crest Nicholson PLC (LSE:CRST) subsided 9% after the housebuilder warned of a £15 million provision to cover build defects in four legacy projects, with consultants appointed to examine for other potential defects.
Along with the four sites, which were completed prior to 2019 when the London & Regeneration business was closed, the consultants will also look for potential problems with other pre-2019 sites.
Close Brothers Group PLC's (LSE:CBG) share price surged by 11.5% following the announcement of a £400 million strategy to enhance its capital position in anticipation of potential financial impact from a Financial Conduct Authority probe into motor financing.
The FTSE 250-listed merchant bank also confirmed that it has paused its dividend, deeming it wise to take preemptive action amid the "significant uncertainty" surrounding the early stages of the FCA's review, an investigation that could impose up to £16 billion costs on the banking sector.
Shares in DFS Furniture PLC (LSE:DFS) fell 8% in early exchanges after the furniture retailer revised its sales and profit forecasts downward due to significantly weakened demand over the last two months.
Orders fell 16% year-on-year in January and February, leading DFS to lower revenue expectations to between £1 billion and £1.015 billion for the financial year ending in June, a decrease of up to £65 million from previous estimates.