Tesla Inc (NASDAQ:TSLA) earnings on Tuesday afternoon are even more highly anticipated than normal. Not only have recent delivery numbers disappointed but management also face big strategic questions, including reports of a pivot away from its lower-cost Model 2 project to focus on developing a robotaxi.
Last week, analysts at Barclays cut their target price 20% to $180 ahead of the results, seeing the earnings as a likely “negative catalyst” for the stock, with potential for new guidance to include higher investment spend.
Primark owner Associated British Foods PLC (LSE:ABF)’s exceptionally strong set of financial results has provided a much-needed sentiment boost for the London stock market.
It wasn’t just cornerstone asset Primark driving profits; the group’s grocery segment grew operating profits by a chunky 34%, while the ingredients division grew by 16%. Both segments beat prior forecasts.
UBS has thrown a bone to metallurgical coal producers, suggesting prices should hold up over the next twelve months as Indian steel production ramps up, China demand recovers and restocking kicks in.
Supply growth is expected to be modest, with recent sanctions on Russian producers to impact trade flows and new investment in growth and depletion-replacement challenging.
Analysts at broker Peel Hunt see clear benefits to accesso Technology Group plc’s equity story after bringing its ShoWare software as a service (SaaS) ticketing suite to the UK.
“This scalable solution has already proven itself, with over 600 venues around the world using the service, and allows venues to manage the end-to-end ticketing process, whether online or onsite,” noted Peel Hunt.
UBS has revised its price target for ITV PLC (LSE:ITV) downwards from 76 pence to 73 pence due to increased marketing and labour costs.
The investment bank, which retained its 'neutral' recommendation, has also adjusted its earnings per share (EPS) projections for ITV for the fiscal years 2024 to 2026, reducing them by approximately 4%.
More than £1 billion was wiped from the value of Anglo American PLC after the De Beers owner finally agreed with its partners to cut diamond production.
It was the most newsy part of the mining giant's first quarter update from Anglo, which revealed a 23% year-on-year decline in rough diamond production to 6.9 million carats (Mct).
Prudential needs to reassure with its quarterly update on 30 April after a near 35% drop in its share price over the past year.
Property and economic problems in key growth drivers of China and Hong Kong are likely the reason and the update might reveal a slowdown in new business premium growth (NBP) to around 10%, according to Goldman Sachs.
Following the offer for Hipgnosis Songs Fund Limited (LSE:SONG) from Blackstone, the alternative asset manager's own Hipgnosis Song Management (HSM) arm made a "curious" statement, according to analysts.
In the statement, an HSM spokesman said that while it has been repeatedly blamed for many issues affecting the London-listed music rights trust, these were "not HSM’s responsibility" under the terms of the investment advisory agreement (IAA).
JD Sports Fashion PLC (LSE:JD.)'s shares climbed 5% to 125.7p following the announcement of its plan to acquire US retailer Hibbett in a deal valued at £899 million, aiming to boost its North American presence.
The deal is set to increase the retailer's annual turnover from North America to approximately £4.7 billion, raising its regional sales share to 40%.
Shares of Primark owner Associated British Foods PLC (LSE:ABF) surged 9% following a robust first-half financial performance, driven by substantial margin recovery and operational enhancements, prompting it to upgrade its full-year forecasts.
Despite a modest 2% rise in group revenue to £9.7 billion, adjusted operating profit soared 39% to £951 million, and adjusted earnings per share increased by 46% to 90.4p.
Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) has been upgraded to 'hold' from 'underperform' by Jefferies, bumping its valuation up by £3 a share to £44.
In a note entitled Time To Use The Slack That's Been Given, the American investment bank points out the stock has fallen 23% year-to-date amid worries over the cost of baby formula litigation.