Microsoft Corp (NASDAQ:MSFT) will report its fiscal fourth quarter earnings on Tuesday, July 30 and analysts at the Bank of America see upside in the company’s revenue for the period.
Wall Street analysts on average expect Microsoft to post revenue of $64.2 billion and earnings per share of $2.90 for Q4.
Google parent Alphabet Inc (NASDAQ:GOOG)'s second quarter earnings are expected to benefit from improvements in AI search and headcount controls, analysts at the Bank of America believe.
They raised their price target on the stock to $206 from $200, representing upside from Alphabet’s current share price of about $182, and repeated their ‘Buy’ rating.
HSBC Holdings PLC (LSE:HSBA) promoting Georges Elhedery, its current chief financial officer, to be its new CEO is unsurprising, analysts said.
Following the retirement announcement from Noel Quinn in the spring, the current boss will step down from 2 September.
Legal & General Group PLC (LSE:LGEN) shares were lower in afternoon trading after bank RBC Capital downgraded stock in the insurer.
Citing potential competition in the bulk-purchase annuity (BPA) and pension risk (PRT) arenas, the Canadian investment bank moved its recommendation to sector perform from outperform and cut its price target by 50p to 245p.
Ocado Group PLC (LSE:OCDO) (Ocado Group PLC (LSE:OCDO)) was reiterated as a 'buy' by Deutsche Bank after its full-year results yesterday
Group revenue at the tech and delivery group of £1.54bn was ahead of the bank’s forecast of £1.48bn “with a marked improvement in adjusted EBITDA to £71.2m (H1’23: 16.6m)”.
Shares in hVIVO PLC (AIM:HVO) were up 4% in afternoon trading following a generally well-received update on trading.
In it, the contract research group reaffirmed its full-year revenue guidance of £62 million and expects EBITDA margins at the upper end of market expectations.
It’s faint praise from broker Shore Capital Markets, but Ocado Group PLC (LSE:OCDO) is showing “fewer poor metrics” in recent financial updates.
The warehouse technology and grocery company has a growing share of the online grocery market and narrower first-half losses sent shares on a supersized 18% rally on Tuesday.
Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF)second-quarter production was soft, say City analysts, with rail outages in Pilbara hitting the numbers though overall the update was steady enough.
Issues at the Kennecott copper mine were also a factor, but the reassurance on Rio’s major projects was a plus, said Citi.
UK prices remained in line with the Bank of England's target last month, but persistently high services sector inflation is expected to hold back the central bank from cutting rates next month, economists and analysts said.
The consumer price index (CPI) rose 0.1% over June, as expected, which meant the annual rise in CPI remained at 2.0% for the second month running.