Scottish Mortgage Investment Trust PLC (LSE:SMT)’s interim performance was a "dull" one for the FTSE 100-listed trust, according to Stifel analysts.
Stifel highlighted that unlisted investments, which declined by an average of 11.3%, dragged down SMT’s net asset value (NAV) by approximately 3% over the period.
Rolls-Royce Holdings PLC (LSE:RR.) has had a buy rating and three-year price target of 665p reiterated by Panmure Liberum after the aero-engine maker left guidance unchanged in yesterday’s update.
“There is still plenty of upside to our 3-year target, which is based on the assumption that RR rerates to a typical Safran peak cycle rating this cycle, instead of the much lower ratings of previous cycles," said analysts.
British Airways owner International Consolidated Airlines Group SA (LSE:IAG) gained altitude on Friday after unveiling a new buyback and consensus-beating third-quarter figures.
Shares jumped over 6% following the update, which showed operating profit up 15.4% at €2.01 billion (£1.67 billion) over the fourth quarter and a new buyback of €350 million.
Hospitality groups have been hit with a wave of downgrades by Deutsche Bank following the rises in the minimum wage and National Insurance unveiled by the Labour Government.
Greggs is the standout change, with its rating cut to 'sell' from 'hold' with a target price now of 2,400p (2,600p previously) though pub chain Mitchells & Butlers is now a 'hold' from 'buy' (target 280p from 360p).
Chip designer Arm Holdings PLC (NASDAQ:ARM) delivered strong second-quarter results, with Citi analysts noting the company is "executing crisply" by consistently surpassing revenue expectations.
Its growth is largely fuelled by strong licensing sales, though royalty income remains affected by broader industry cycles.
Lucid Group Inc's (NASDAQ:LCID) stock rose 5% in after-hours trading after the electric vehicle maker slightly exceeded third-quarter forecasts, despite widening losses.
Revenue reached $200 million, surpassing the expected $198 million, while adjusted losses per share were $0.28, better than the $0.30 projected by analysts.