Company News
Southwest shares sink as airline reports airport exits, Q1 losses
Shares in Southwest Airlines plummeted on Thursday after the carrier announced plans to pull out of four airports to improve its financial performance, as it reported a wider-than-expected loss for the first quarter and trimmed its annual guidance.
Bristol Myers Squibb to cut 2,200 jobs as part of $1.5bn cost-savings drive
US drugmaker Bristol Myers Squibb on Thursday announced plans to cut its workforce by 6% as part of a $1. 5bn cost-savings programme, as it reported better-than-expected results for the first quarter.
Director dealings: Journeo director raises stake
Journeo revealed on Thursday that non-executive director Barnaby Kent had acquired 9,656 ordinary shares in the AIM-listed transport solutions provider.
Petro Matad still working to secure Mongolia approvals
Mongolia-focussed oil company Petro Matad said in an update on Thursday that it was actively engaged with local government agencies to secure the necessary approvals from Matad District to kickstart its 2024 operational programme.
BNP Paribas beats forecasts comfortably with Q1 results
French banking giant BNP Paribas delivered an increase in profits in its first quarter on stable revenues, as it reiterated its guidance for the full year.
Revenue, earnings to fall at Driver Group
Dispute avoidance and resolution consultancy Driver Group said in a trading update on Thursday that it expected to report revenue of £22. 5m for its first half, slightly down from £24. 2m a year earlier.
Anglo American surges on £31bn takeover bid from BHP
Anglo American surged on Thursday after it received an unsolicited non-binding and highly conditional £31. 1bn all-share takeover proposal from Australia’s BHP Group - a deal that would create the world’s largest miner and copper producer.
Inchcape shares spike on higher Q1 revenues
Shares in Inchcape surged on Thursday as the car dealer reiterated its annual outlook after a 5% rise in first-quarter revenues.
Micron secures $13bn funding package from White House
Micron Technology has secured more than $6bn in direct funding from the US government to help build leading-edge chip factories, it was announced on Thursday.
Sainsburys sees strong profit growth this year on food pivot
UK supermarket chain Sainsbury's said it expected to grow profits by 5-10% this year after delivering better-than-expected earnings for 2023/24.
Greece's Mytilineos considering secondary listing in London
Greek industrial and energy company Mytilineos said on Thursday that it was considering a potential secondary listing on the London Stock Exchange.
Deutsche Bank Q1 profits boosted by investment banking
Deutsche Bank posted a jump in first-quarter pre-tax profit on Thursday, underpinned by a solid performance from investment banking.
React H1 revenues grow, EBITDA surges
Cleaning firm React Group said on Thursday that revenues and profits had both grown in the six months ended 31 March.
Barclays Q1 profits fall 12% as mortgage demand subdued
Barclays Bank reported a 12% fall in first-quarter profit on lower income as customers shopped around for better savings rates and mortgage deals.
Derwent agrees sale of Turnmill EC1 for £77.4m
Derwent London said on Thursday that it has exchanged contracts with investment manager Titan Investors for the sale of its 70,300 sq ft freehold interest in Turnmill EC1 for £77. 35m.
First-quarter sales miss forecasts at Nestle
Shares in Nestle came under pressure on Thursday, after the Swiss food giant missed first-quarter sales estimates.
Wizz Air delivers optimistic outlook as summer trading starts well
Budget airline Wizz Air has said that it is "trading positively" into the summer with operating margins expected to improve this year, as it reported that annual profits for the year ended 31 March would be in line with previous guidance.
Labour lays out plans to renationalise UK's railways
Labour promised to renationalise the UK’s railway network within five years of taking office on Thursday, in a bid to address the system’s challenges without compensating its existing private operators.
Puretech Health operating losses narrow in 'landmark year'
Biotechnology company Puretech Health said on Thursday that 2023 had been "a landmark year" for the group, making "strong strategic and clinical progress".
Renewi on track to meet full-year expectations
Recycling specialist Renewi reiterated full-year guidance on Thursday, following "strong" performances in a number of divisions.