British American Tobacco beats half-year profit forecasts July 31, 2020 British American Tobacco (BAT) smashed half-year profit expectations for as premium cigarette sales soared and it enjoyed strong demand for vaping products in the US, it said today. The figures The Lucky Strike brand owner posted an 18.8 per cent jump in pre-tax profit to £4.59bn for the six months to the end of June. [...]
What does Meggitt’s bid premium tell us about UK shares? August 25, 2021 Have you ever wondered why there has been such a marked pick-up in the amount of UK businesses that have been bid for in recent years? This year is no exception, and has been an extremely active one, with a record number of deals in the first half of 2021. And there is no sign [...]
Bumper summer for IPOs with fastest start to second half since 2007 August 27, 2020 Companies are pressing on with plans to go public even amid second wave fears, with the fastest start to the second half of the year since 2007. A global total of 241 initial public offerings (IPOs) have been recorded during the second half of the year so far, according to data from Refinitiv. Listings inevitably [...]
Morgan Stanley profit jumps on strong trading performance October 15, 2020 Morgan Stanley posted a 25 per cent increase in third-quarter profit, closing a mixed Wall Street earnings season on a high. Lenders focused on trading have booked big gains for the quarter, while those with bigger retail operations have been hit harder by the coronavirus. Like fellow trading powerhouse Goldman Sachs, Morgan Stanley was able [...]
City Moves for 29 January – who’s switching jobs at Refinitiv, Blackberry and CFA Institute? January 29, 2019 Who’s on the move today? Refinitiv Refinitiv, formerly the financial and risk business of Thomson Reuters, has appointed Sherry Madera as global head of industry and government affairs to enhance the company’s engagement across government, policy initiatives, industry trends and regulatory developments. This engagement will support Refinitiv’s role as an essential part of global financial [...]
Twitter shares drop after user growth misses expectations October 29, 2020 Twitter today added fewer users than Wall Street had expected and said expenses would accelerate in the current quarter, sending its shares tumbling 13 per cent. Shares of Twitter fell to $45.23 in after-market trading. The San Francisco-based social media company said it had 187m monetizable daily active users (mDAU) during the third quarter, missing consensus analyst [...]
H&M makes fashionable comeback in coronavirus turnaround September 15, 2020 H&M surpassed analyst estimates on profit in its most recent quarter, helping the world’s second biggest fashion retailer to bounce back after the coronavirus pandemic weathered sales. Profit before tax for the three months to the end of August was around 2bn Swedish crowns (£177.1m), beating analysts’ mean forecast of 191m crowns according to data [...]
M&A crashes across the globe as coronavirus freezes economic activity March 31, 2020 Dealmaking has plunged across the world as the calamitous health and economic impact of coronavirus sends M&A into the deep freeze. Data from Refinitiv showed global M&A activity in the first quarter is down 28 per cent on the same quarter last year at $697bn (£560bn). By number of deals, worldwide M&A has fallen 14 [...]
Apple earns $100bn in single quarter January 27, 2021 Silicon valley giant Apple has earned more than $100bn in its first quarter of 2021, making it one of just a handful of firms to ever have done so. Apple’s revenue for the quarter ended December 26 rose 21 per cent to $111.44 billion. Earnings per share rose to $1.68 from $1.25. Analysts had expected [...]
Netflix subscriber numbers fall short as Covid-19 lockdown boost fizzles October 20, 2020 Netflix tonight posted the weakest new subscriber numbers in four years as streaming competition increased, lockdowns eased and live sports returned to television. The company added 2.2 million paid Netflix subscribers globally during the quarter to 30 September, missing Wall Street’s target of 3.4 million. Earnings per share also landed below analyst expectations at $1.74. [...]