Ocado Group PLC (LSE:OCDO) fell on Wednesday as analysts batted off speculation of the firm rehousing its stock market listing from London to New York.
Pointing to speculation last year that Amazon (NASDAQ:AMZN) was mulling a bid for Ocado, analysts at Shore Capital suggested this was more unsourced talk that “clearly proved to be groundless” previously.
AIM-listed battery technology company Ilika PLC (AIM:IKA, OTCQX:ILIKF)’s “very upbeat” capital markets day, to use broker Liberum’s words, has been met with a solid reaction, with shares sent 8% higher on Wednesday.
Ilika outlined “impressive operational progression” over the past 12 months, said analysts, with financial reports setting the stage for a “robust liquidity position” in the year ahead.
Ithaca Energy has filled in the gaps in its deal to acquire Eni’s North Sea assets, but Jefferies is still perplexed by the move.
“We still remain somewhat puzzled by the decision to double down on the UKCS given the likely increased tax burden under a Labour government, when peers such as Harbour Energy are diversifying into new geographies to reduce their effective tax rates. “
Dettol, Durex and other living essentials provider Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) flew to the top of the FTSE 100 risers list on Wednesday despite delivering a 4.5% fall in statutory revenues.
The secret sauce was organic sales growth (which strips out currency fluctuations and MA adjustments) of 1.5%, which Barclays analysts pointed out was “significantly better” than the 0.9% decrease forecast by City.
Jet2 PLC (AIM:JET2)’s warning over price competition is likely to concern investors, especially given rival easyJet did not mention such pressures, analysts have said.
According to Jet2’s update on Wednesday, demand has improved year on year heading into the busier summer period.
Citi has provided its insights on the financial impact of JD Sports Fashion plc's acquisition of American sportswear retailer Hibbett following a call with management in the wake of the $1.1 billion deal announced Tuesday.
Specifically, JD's management anticipates the deal will be accretive to earnings per share by a low to mid-single-digit percentage in the first year before considering synergies, meaning it should start adding to the company's profit shortly after the deal is completed.
Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF)'s earnings could be aided by an unexpected tailwind in the form of gold by-product from its copper production.
So says Benrenberg, which has revisited its estimates with the sky-high price of the precious metal front of mind.
Analysts said Lloyds Banking Group PLC's (LSE:LLOY)'s first quarter disappointed in some respects but there was plenty to be positive about, as shares in the UK's largest lender swung from early losses to gains in early-afternoon trades.
In short, profit was 2% below the consensus City forecast, with misses on net interest income (NII) and costs largely offset by lower-than-expected impairment charges.
Apple Inc (NASDAQ:AAPL, ETR:APC) is cutting 2024 shipping forecasts for its Vision Pro headset due to low demand for the device, analysts reckon.
Orders for the US$3,500 headset have been cut before it even received a launch outside of the US, analysts at TF International Securities revealed.
JP Morgan repeated its bullish stance on a trio of UK defence stocks after a double boost for the sector.
Rishi Sunak announced increased military support for Ukraine alongside a commitment to elevate defence spending - a pledge that is likely to be kept by Labour, which is currently well ahead in the polls.
Boeing Co (NYSE:BA, ETR:BCO) could be set to experience an uptick in its aircraft deliveries after research found the number of customer acceptance flights rose last week.
Customer acceptance flights are test journeys done before an aircraft is transferred from the manufacturer to the airline/leasing company.
Shares of Filtronic PLC (LSE:FTC) rocketed 48% after it emerged that Elon Musk's SpaceX could become a major shareholder in the unheralded microwave technology group.
Filtronic will supply E-band Solid State Power Amplifier modules for SpaceX's Starlink satellite constellation under a $19.7 million deal.
Abrdn PLC (LSE:ABDN)'s share price rose 3.7% in early trading after the Scottish asset manager said it saw net inflows of £800 million in the first quarter of the year.
This marks a minor reversal from the £6.2 billion in net outflows it experienced during the same period last year.