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Tesla shares slide in 2024 as investors mull their next moves
Thursday 08 Feb 2024It has been sorry start to the year for Elon Musk and the thousands of loyal Tesla (TSLA:NASDAQ) shareholders. January alone has seen the stock lose 25% of its value, wiping nearly $200 billion off its market cap as the electric car maker continues to grapple with increasing competition, eroded...
Elementis shares soar after receiving a preliminary bid from US fund
Thursday 08 Feb 2024Shares in specialty chemicals maker Elementis (ELM) surged 12% to 139p at the end of January following a press report it had received a bid from a US private equity fund. The shares eventually hit a new 12-month high of 142.4p after it was revealed New York based firm KPS Capital Partners had...
Ferrari gets into top gear to buck softer luxury goods trend
Thursday 08 Feb 2024Luxury goods shares may have hit the skids in recent weeks on flagging demand in China and the cost of living crisis, but iconic Italian car maker Ferrari (RACE:NYSE) seems to go from strength to strength. The shares hit new highs (2 February) after fourth-quarter sales topped analysts’ estimates...
Meta Platform’s dividend call stuns the market
Thursday 08 Feb 2024Shares of Facebook and Instagram-owner Meta Platforms (META:NASDAQ) soared as the social media company reported blowout fourth quarter results (1 February) that beat even the most optimistic projections and unveiled a maiden dividend. By the end of the Wall Street session on 2 February, the stock...
Can British Gas owner Centrica continue to deliver?
Thursday 08 Feb 2024Investors in British Gas owner Centrica (CNA) will be watching closely to see if it can hit forecasts against a normalised energy price backdrop when it reports full year results on 15 February. Analysts are forecasting earnings per share for the full year ending 31 December of 30.5p. In July 2023...
Pfizer beats earnings expectations but still has a lot to do to recapture former glories
Thursday 01 Feb 2024Pharmaceutical firm Pfizer (PFE:NYSE) , whose name has been synonymous with Covid-19 vaccines and treatments, is showing signs of life after a very difficult period for the company and its share price. Languishing around 10-year lows in the run up to its fourth update on 30 January, the company...
Chinese stock market rocked by $330 billion Evergrande liquidation
Thursday 01 Feb 2024China is once again in the spotlight after a Hong Kong high court pulled the plug on negotiations to save the world’s most indebted property developer China Evergrande (6666:HKG) . Shares in Evergrande were suspended at HK$0.16 and are unlikely to reopen again after a judge ruled ‘enough is enough...
Why shares in fashion victim Superdry have slumped 50% year-to-date
Thursday 01 Feb 2024It has been a dire start to 2024 for Superdry (SDRY) , the Julian Dunkerton-steered fashion brand whose shares are down almost 50% year-to-date, extending one- and five-year losses to 86% and 96% respectively. The latest downward lurch reflects a pre-Christmas profit warning (19 December 2023)...
InterContinental Hotels continues to benefit from strong travel demand
Thursday 01 Feb 2024Shares in global hotels operator Intercontinental Hotels (IHG) have put in a stellar performance since the onset of the pandemic, gaining 175% since March 2020. Over the last 12 months the shares have continued to notch-up new highs and are up around a third compared with a 2% drop in the FTSE 100...
Luxury goliath LVMH shows resilience but Diageo serves up sobering results
Thursday 01 Feb 2024Post-Christmas updates from the industry demonstrate that not all luxury goods companies are created equal, with sector players experiencing contrasting fortunes as the post-pandemic boom normalises and well-heeled shoppers prove more selective. On 25 January, the world’s largest luxury goods group...