Company News
Wednesday preview: Potential US election surprise (s), euro area PMIs in focus
It's election time again in the United States and most observers and media are predicting that the vote counting in the presidential race could be a drawn out affair, possibly stretching out until the weekend, when not even further.
Hugo Boss reaffirms 2024 guidance, Asia challenges linger
Hugo Boss reaffirmed its full-year guidance for 2024 after reporting modest revenue growth in the third quarter, with a 1% increase year-to-date, although challenges in the luxury market meant it was unlikely to meet its 2025 targets.
AstraZeneca says does not comment on media reports as shares slump
AstraZeneca said on Tuesday that it does not comment on speculative media reports, in response to a sharp drop in its share price.
Nintendo lowers forecasts amid diminishing Switch sales
Nintendo lowered its profit and sales forecasts for the year ending next March on Tuesday, reflecting diminishing demand for its seven-year-old Switch console.
Vestas Wind Systems shares tumble on Q3 profit miss
Shares in Vestas Wind Systems were tumbling on Tuesday, after it reported third-quarter revenue of €5. 2bn, up 18. 9% increase year-on-year, with a core operating profit of €235m, far short of the expected €352m.
Boeing workers agree pay deal, end strike
Boeing’s workforce ended a 53-day strike on Tuesday, after voting to accept a new labour agreement that included a 38% pay increase over four years and improved retirement contributions.
Sosandar signs licensing agreement with Next for homeware range
AIM-listed fashion brand Sosandar said on Tuesday that it has signed a licensing agreement with Next for a homeware range.
Saudi Aramco sees Q3 profits drop 15%
State-owned oil major Saudi Aramco saw profits drop 15% in the third quarter as lower refining margins and crude prices weighed on the bottom line.
NatWest strikes £11bn deal to offload pension payments to Rothesay
NatWest Group has struck what is thought to be the UK's biggest-ever deal to outsource pension payments to a specialist insurance company.
Whitbread kicks off search for chair Crozier’s successor - report
Premier Inn owner Whitbread has reportedly kicked off the search for a successor to chairman Adam Crozier and is working with Russell Reynolds Associates.
Hilton Food hails strength across all geographies, says Q3 in line
Hilton Food said on Tuesday that it traded in line with management expectations in the third quarter, as it hailed a continued strong performance across all three geographical operating regions.
Balfour Beatty secures Texas highway upgrade contract
Balfour Beatty announced on Tuesday that it has secured a $746m (£575m) contract from the Texas Department of Transportation to rebuild a section of Interstate 35 through Austin.
IWG revenue growth underpinned by managed and franchised segment
International Workplace Group reported a 2% year-on-year revenue increase on a constant currency basis for the third quarter on Tuesday, alongside robust expansion in its managed and franchised segment, which achieved a 19% revenue rise.
TI Fluid Systems revenue falls in third quarter
TI Fluid Systems reported a 2. 9% decline in revenue at constant currency for the first nine months of the year on Tuesday, citing reduced market volumes and economic headwinds in the third quarter, which alone saw a revenue drop of 5. 9%.
Smiths News beats full-year market expectations
Smiths News announced a strong set of full year results on Tuedsay, surpassing market expectations.
Morgan Advanced Materials lowers outlook, launches £40m buyback
Morgan Advanced Materials reported a 3. 8% rise in organic sales for the first nine months of 2024 on Tuesday, driven primarily by strong demand in its performance carbon segment, which saw a 12. 6% increase.
CMA says Vodafone-Three merger could proceed with remedies
The Competition and Markets Authority (CMA) provisionally indicated that the proposed merger between Vodafone and Three could move forward on Tuesday, if the companies implemented significant network investments and customer safeguards.
Schroders Q3 outflows reach £2.3bn despite record AuM
Schroders reported a record high in assets under management on Tuesday, reaching £777. 4bn as of 30 September, although large third-quarter outflows took the shine off the news.
TP ICAP posts record third-quarter revenue
Interdealer broker TP ICAP reported record third-quarter revenue on Tuesday following strong performances in its Global Broking and Liquidnet businesses.
Asos FY losses widen but outlook upbeat
Online fashion retailer Asos reported a widening of its full-year losses on Tuesday as revenue slumped but insisted that things were looking up after two years implementing its transformation plan.