| Frasers Group PLC (GB00B1QH8P22) | |||
6,77 GBXStand (close): 04.07.25 |
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| 19.06.25 06:53:11 | Frasers pulls out of bidding for Revolution Beauty after mulling takeover |  |
| Mike Ashley’s Frasers Group (FRAS.L) has pulled out of the bidding process for Revolution Beauty (REVB.L), after the cosmetics retailer told shareholders it had been exploring a possible takeover. Frasers, the retail giant which owns Sports Direct and Flannels, said it “now confirms that it does not intend to make an offer” to buy the business. Revolution Beauty formally put itself up for sale last month after being approached by an unnamed suitor. It later told investors that Frasers was “one of a number of parties conducting due diligence” before a potential bid. Frasers’ withdrawal from the bidding war raises questions over the future of the troubled beauty brand.Frasers was founded by former Newcastle United owner Mike Ashley (PA) Revolution Beauty, which sells make-up and cosmetics online and through concessions, had recently seen its shares slide to an all-time low in the face of tumbling sales. Bosses had previously told investors they were reviewing its funding options before its current £32 million credit facility expires in October. The company has faced a torrid few years amid leadership and accounting issues, including a dispute with its former boss and a tussle with one of its shareholders, fashion firm Debenhams (DEBS.L), under its previous Boohoo Group name. Frasers has recently built up investments in a number of other retailers, including online specialist THG, which owns rival beauty brands including LookFantastic and Cult Beauty. It also owns a raft of other brands including Jack Wills, USA Pro and I Saw It First. Frasers was founded by business mogul Mike Ashley – the former owner of Newcastle United Football Club. View Comments |
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| 18.03.25 12:20:06 | Norwegian retailer XXL shares surge 37% as Frasers Group plans mandatory offer |  |
| Norwegian retailer XXL shares surge 37% as Frasers Group plans mandatory offer Investing.com - Shares in XXL ASA (OL:XXL) soared 36.94% on Tuesday after the UK's Frasers Group PLC (LON:FRAS) announced plans to make a mandatory offer for the remaining shares of the Norwegian retailer. This decision follows XXL’s completion of a rights issue of new shares priced at 10 Norwegian kroner each, resulting in Frasers Group gaining control of 28,776,451 shares and an equal number of voting rights, the British company said. Frasers Group shares rose by 2.08%. The completion of the rights issue and subsequent registration of the share capital increase have obligated Frasers Group to extend an offer for all outstanding shares of XXL it does not already own, in accordance with the Norwegian Securities Trading Act. The company did not disclose the exact terms of the mandatory offer. The strategic move by Frasers Group, a UK-based retail giant, is expected to further consolidate its position in the sporting goods market, where XXL ASA is a prominent player in the Nordic region. Related Articles Norwegian retailer XXL shares surge 37% as Frasers Group plans mandatory offer Sarepta stock tumbles on patient death news Israeli automotive startup REE set to sign $770 million exclusive technology supply deal View Comments |
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| 14.03.25 09:34:27 | Calculating The Fair Value Of Frasers Group Plc (LON:FRAS) | |
| Key Insights The projected fair value for Frasers Group is UK£5.74 based on 2 Stage Free Cash Flow to Equity With UK£6.18 share price, Frasers Group appears to be trading close to its estimated fair value Our fair value estimate is 32% lower than Frasers Group's analyst price target of UK£8.40 Does the March share price for Frasers Group Plc (LON:FRAS) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. This will be done using the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward. Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you. Check out our latest analysis for Frasers Group The Method We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) forecast 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF (£, Millions) UK£219.6m UK£216.4m UK£209.9m UK£206.9m UK£206.3m UK£207.2m UK£209.4m UK£212.3m UK£215.8m UK£219.9m Growth Rate Estimate Source Analyst x3 Analyst x3 Est @ -3.02% Est @ -1.43% Est @ -0.31% Est @ 0.47% Est @ 1.02% Est @ 1.41% Est @ 1.67% Est @ 1.86% Present Value (£, Millions) Discounted @ 9.8% UK£200 UK£179 UK£158 UK£142 UK£129 UK£118 UK£109 UK£100 UK£92.9 UK£86.1 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF) = UK£1.3b Story Continues We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.3%. We discount the terminal cash flows to today's value at a cost of equity of 9.8%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = UK£220m× (1 + 2.3%) ÷ (9.8%– 2.3%) = UK£3.0b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= UK£3.0b÷ ( 1 + 9.8%)10= UK£1.2b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is UK£2.5b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of UK£6.2, the company appears around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.LSE:FRAS Discounted Cash Flow March 14th 2025 Important Assumptions The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Frasers Group as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 9.8%, which is based on a levered beta of 1.467. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. SWOT Analysis for Frasers Group Strength Debt is not viewed as a risk. Weakness Earnings declined over the past year. Opportunity Annual earnings are forecast to grow for the next 3 years. Good value based on P/E ratio compared to estimated Fair P/E ratio. Threat Annual earnings are forecast to grow slower than the British market. Next Steps: Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. DCF models are not the be-all and end-all of investment valuation. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Frasers Group, we've compiled three relevant factors you should look at: Risks: For example, we've discovered 2 warning signs for Frasers Group that you should be aware of before investing here. Future Earnings: How does FRAS's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! PS. Simply Wall St updates its DCF calculation for every British stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 15.02.25 09:24:06 | At UK£6.21, Is Frasers Group Plc (LON:FRAS) Worth Looking At Closely? | |
| Frasers Group Plc (LON:FRAS), might not be a large cap stock, but it received a lot of attention from a substantial price movement on the LSE over the last few months, increasing to UK£7.66 at one point, and dropping to the lows of UK£5.71. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether Frasers Group's current trading price of UK£6.21 reflective of the actual value of the mid-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at Frasers Group’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. See our latest analysis for Frasers Group Is Frasers Group Still Cheap? According to our valuation model, Frasers Group seems to be fairly priced at around 6.5% below our intrinsic value, which means if you buy Frasers Group today, you’d be paying a fair price for it. And if you believe that the stock is really worth £6.64, then there’s not much of an upside to gain from mispricing. Although, there may be an opportunity to buy in the future. This is because Frasers Group’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company’s shares will likely fall by more than the rest of the market, providing a prime buying opportunity. What does the future of Frasers Group look like?LSE:FRAS Earnings and Revenue Growth February 15th 2025 Future outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. Frasers Group's earnings over the next few years are expected to increase by 37%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value. What This Means For You Are you a shareholder? It seems like the market has already priced in FRAS’s positive outlook, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the track record of its management team. Have these factors changed since the last time you looked at the stock? Will you have enough conviction to buy should the price fluctuates below the true value? Are you a potential investor? If you’ve been keeping an eye on FRAS, now may not be the most optimal time to buy, given it is trading around its fair value. However, the positive outlook is encouraging for the company, which means it’s worth further examining other factors such as the strength of its balance sheet, in order to take advantage of the next price drop. Story Continues So while earnings quality is important, it's equally important to consider the risks facing Frasers Group at this point in time. For example - Frasers Group has 2 warning signs we think you should be aware of. If you are no longer interested in Frasers Group, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 29.01.25 09:53:03 | Investors in Frasers Group (LON:FRAS) have seen returns of 25% over the past five years | |
| It hasn't been the best quarter for Frasers Group Plc (LON:FRAS) shareholders, since the share price has fallen 21% in that time. But at least the stock is up over the last five years. Unfortunately its return of 25% is below the market return of 27%. Let's take a look at the underlying fundamentals over the longer term, and see if they've been consistent with shareholders returns. Check out our latest analysis for Frasers Group To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. During the last half decade, Frasers Group became profitable. That's generally thought to be a genuine positive, so investors may expect to see an increasing share price. The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).LSE:FRAS Earnings Per Share Growth January 29th 2025 We know that Frasers Group has improved its bottom line over the last three years, but what does the future have in store? It might be well worthwhile taking a look at our freereport on how its financial position has changed over time. A Different Perspective While the broader market gained around 13% in the last year, Frasers Group shareholders lost 24%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. On the bright side, long term shareholders have made money, with a gain of 5% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. To that end, you should be aware of the 2 warning signs we've spotted with Frasers Group . Of course Frasers Group may not be the best stock to buy. So you may wish to see this freecollection of growth stocks. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on British exchanges. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 21.01.25 12:01:00 | Boohoo Shareholders Reject Frasers’ Bid to Remove Founder Mahmud Kamani From Board | |
| More than 63% of shareholders voted against a proposal by Frasers Group to remove the online fashion retailer’s founder and executive vice chair, Mahmud Kamani, from the board. Continue Reading View Comments |
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| 09.01.25 12:31:10 | Boohoo accuses Frasers of bid to ‘destabilise’ firm at second investor vote | |
| Boohoo has accused Mike Ashley’s Frasers Group of a campaign to “destabilise” the fast fashion firm ahead of a vote on whether founder Mahmud Kamani should be removed as a director. It is the latest turn in a bitter war of words between the online retail firm and its largest shareholder. Frasers has called for Mr Kamani to be axed from the firm’s board at a general meeting set up for January 21. Boohoo, which also owns brands such as PrettyLittleThing and Debenhams, called on shareholders to vote against the motion to oust Mr Kamani, who owns a more than 12% stake in Boohoo.Mike Ashley’s Frasers Group is the largest shareholder in Boohoo (Yui Mok/PA) The company said: “Frasers’ demands, including its current attempt to remove Mr Kamani as a director of the company, form part of an ongoing campaign by Frasers which appears designed to destabilise Boohoo and disrupt the board’s plans to unlock and maximise shareholder value. “The board is of the view that in pursuing this campaign, Frasers is acting solely in its own commercial self-interest.” The fashion firm also highlighted that shareholder advisory group ISS has recommended shareholders vote against the resolution. It comes weeks after Boohoo shareholders blocked attempts by Frasers to get founder Mr Ashley and restructuring expert Mike Lennon appointed to Boohoo’s board of directors. Frasers had called for the two to help steer the business after “dismal results”. However, at a meeting in Manchester, around 63.7% of shareholder votes were cast against motions for the appointment for each of them. Boohoo is currently undergoing a major turnaround plan under new chief executive Dan Finley, who took over the top role in November last year. View Comments |
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| 27.12.24 08:20:16 | Is Weakness In Frasers Group Plc (LON:FRAS) Stock A Sign That The Market Could be Wrong Given Its Strong Financial Prospects? | |
| Frasers Group (LON:FRAS) has had a rough three months with its share price down 29%. However, stock prices are usually driven by a company’s financial performance over the long term, which in this case looks quite promising. In this article, we decided to focus on Frasers Group's ROE. Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In simpler terms, it measures the profitability of a company in relation to shareholder's equity. Check out our latest analysis for Frasers Group How To Calculate Return On Equity? ROE can be calculated by using the formula: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for Frasers Group is: 15% = UK£319m ÷ UK£2.1b (Based on the trailing twelve months to October 2024). The 'return' is the profit over the last twelve months. That means that for every £1 worth of shareholders' equity, the company generated £0.15 in profit. What Has ROE Got To Do With Earnings Growth? Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes. Frasers Group's Earnings Growth And 15% ROE To start with, Frasers Group's ROE looks acceptable. On comparing with the average industry ROE of 9.4% the company's ROE looks pretty remarkable. Probably as a result of this, Frasers Group was able to see an impressive net income growth of 39% over the last five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place. We then compared Frasers Group's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 10% in the same 5-year period.LSE:FRAS Past Earnings Growth December 27th 2024 The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. Is FRAS fairly valued? This infographic on the company's intrinsic value has everything you need to know. Story Continues Is Frasers Group Making Efficient Use Of Its Profits? Given that Frasers Group doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business. Summary On the whole, we feel that Frasers Group's performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 23.12.24 10:25:36 | Boohoo sells London office for £49.5m to pay off debts | |
| Boohoo (BOO.L) has sold off its London head office for £49.5 million to help pay down its debts. The online fashion firm told shareholders on Monday it has sold the site, on Great Pulteney Street in Soho, to property fund Global Holdings UK. It comes three years after Boohoo bought the office building for £72 million. But the company put the site up for sale this summer after a downturn in sales and growing losses. Boohoo said the move to sell the “non-core and non-strategic asset” will help strengthen its balance sheet. The proceeds of the deal will be used to pay down the remainder of a loan which had needed repaying by August 2025. The retail firm said it will still have a £125 million credit facility to support its future operations. Global Holdings said the site includes five floors of Grade A office space and five residential units. Josh Lawrence, chief executive of Global Holdings Management Group UK, said: “As long-term investors in London’s West End office market, we are pleased to add another great building to our portfolio. “10 Great Pulteney Street, as well as the recent purchase of the Frith + Bateman building, allows us to capitalise on the demand we are seeing from occupiers keen to relocate to such a well-connected and fun place to work.” The deal comes after Boohoo was embroiled in a boardroom battle with major shareholder Frasers Group (FRAS.L). On Friday, Boohoo rejected efforts by Frasers Group founder Mike Ashley to get himself appointed to the online fashion firm’s board. Frasers Group, which owns a 27% stake in Boohoo, had urged investors to appoint Mr Ashley and restructuring expert Mike Lennon to Boohoo’s board. But at a meeting in Manchester, a majority of Boohoo shareholders voted against motions to appoint the pair as directors. On Monday, Frasers said it “respects” the view of shareholders and pointed towards a proposition by Boohoo ahead of the vote that Frasers can put forward a candidate for its board, who is not Mr Ashley or Mr Lennon. “We will put forward a highly qualified candidate in due course and fully expect Boohoo’s board to uphold their commitment without hesitation or delay,” the retail group said. View Comments |
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| 20.12.24 10:46:21 | Trending tickers: Nvidia, Nike, FedEx, BlackBerry and Boohoo | |
| Nvidia (NVDA) The US Department of Commerce had recently asked Nvidia to check how its products ended up in China over the past year, following which the chipmaking giant has asked big distributors to conduct spot checks on customers in Southeast Asia, The Information reported. A spokesperson for Nvidia said: "We insist that our customers and partners strictly adhere to all export control restrictions. Any unauthorised deviation of previously-owned products, including any grey market resales, would be a burden on our business, not a benefit." Read more: FTSE 100 LIVE: Markets fall as retail sales rebound in November The US Department of Commerce had not responded to Yahoo Finance UK's request for comment at the time of writing. It comes as the US has recently broadened its restrictions on exports of chips to China to limit its access to the technology. Nvidia shares were down nearly 2% in pre-market trading on Friday, with the stock having seen some choppiness over the past few days. Shares rose after analysts reiterated "buy" ratings on the stock and then dipped as markets fell more broadly on hawkish comments from the US Federal Reserve but had rebounded in Thursday's session. NasdaqGS - Nasdaq Real Time Price•USD (NVDA) Follow View Quote Details 133.81 - (-1.78%) As of 1:46:26 PM EST. Market Open. Advanced Chart Nike (NKE) Shares in Nike were down nearly 4% in pre-market trading on Friday, after the sportswear brand posted its latest quarterly earnings after the market close on Thursday. Nike logged revenue of $12.35bn (£9.86bn) in its fiscal second quarter, which was ahead of expectations of $12.13bn, though this was still a drop from the $13.39bn it reported a year ago. Adjusted earnings per share came in at $0.78, versus estimates of $0.63, though this was still lower than last year's $1.03. Stocks: Create your watchlist and portfolio This was the first set of earnings Nike reported under its new CEO Elliott Hill, who took over from John Donahoe in October. Hill kicked off the earnings call by saying he believes Nike "lost" its "obsession with sport." "We will lead with sport and put the athlete at the center of every decision," he said. Hill added that his team plans to reinvest in brand storytelling and "build back an integrated marketplace across Nike Direct and wholesale." NYSE - Nasdaq Real Time Price•USD (NKE) Follow View Quote Details 70.92 - (-0.21%) As of 1:46:25 PM EST. Market Open. Advanced Chart FedEx (FDX) Delivery giant FedEx surged nearly 8% in pre-market trading on Friday, after the company released its fiscal second quarter earnings and announced plans to spin out the FedEx Freight business. Adjusted earnings per share of $4.05 bested estimates of $3.98, though revenue of $22bn fell just short of expectations of $22.15bn. Story Continues Revenue from its FedEx Freight unit of $2.18bn, was also lower than the $2.36bn expected by analysts. Read more: Stocks that are trending today FedEx CEO Raj Subramaniam said: "Our second quarter results demonstrate that our efforts to transform our operations are working. "The Federal Express segment delivered operating profit growth despite several headwinds, including the continued weak US domestic demand environment as well as the expiration of our US Postal Service contract." FedEx said it completed $1bn in share repurchases in the quarter and expected buy back a further $500m of common stock during the remainder of its fiscal 2025 year. NYSE - Nasdaq Real Time Price•USD (FDX) Follow View Quote Details 276.32 - (-0.10%) As of 1:45:53 PM EST. Market Open. Advanced Chart BlackBerry (BB) Technology company BlackBerry's third quarter earnings showed its net loss had shrunk to $11m, down from $21m at the same time last year. However, the company's revenue of $162m for the third quarter was lower than the $175m it reported last year. Shares were down 5% in pre-market trading on Friday. John J. Giamatteo, CEO of BlackBerry, said that the company had achieved a "significant inflection" in its results this past quarter. Read more: Are there any major UK companies ripe for takeover bids in 2025? Have your say Earlier this week, BlackBerry announced that it had agreed the sale of its Cylance cybersecurity business to Arctic Wolf. Giamatteo said this deal was a "further transformational step for the Company, placing BlackBerry on a path to accelerating profitability post-close." Looking ahead, BlackBerry guided to revenue of between $126m and $135m in the fourth quarter. NYSE - Nasdaq Real Time Price•USD (BB) Follow View Quote Details 4.2545 - +(2.76%) As of 1:46:26 PM EST. Market Open. Advanced Chart Boohoo Group (BOO.L) Shareholders in Boohoo are set to vote on Friday on whether they will back the incumbent management team or vote retail mogul Mike Ashley onto the board. Boohoo and Ashley's Frasers Group (FRAS.L) have been embroiled in public row over the past month, as the latter has tried to gain more control at the fast fashion retailer. Both Boohoo and Frasers shares were flat ahead of the vote on Friday morning. Russ Mould, investment director at AJ Bell, said: "It’s no secret which way major shareholder and Ashley-founded Frasers will go, after all it brought the resolutions which also call for the removal of co-founder Mahmud Kamani and the appointment of restructuring expert Mike Lennon as a director. Read more: Best paying FTSE 100 stocks of 2024 “However, as Boohoo has been enthusiastically amplifying, the big proxy advisers have been recommending investors vote against Frasers’ proposals. "Boohoo is in a vulnerable position given it is trading way below the 400p-plus highs the shares attained in 2020. "Ethical issues around its supply chain, balance sheet problems, a shift away from online shopping for clothes and a loss of momentum for the whole fast fashion trend have conspired to put the stock on its knees. "For all his detractors, Ashley has a lot of experience in retail and has broadly been successful, so some shareholders might welcome his input. Others may agree with Boohoo that this is an attempt to take control of the business by stealth and ultimately gobble it up." Other companies in the news on Friday 20 December: Tesla (TSLA) Alibaba (BABA, 9988.HK) Rentokil (RTO.L) United Utilities (UU.L) Read more: Robinhood to add options trading in the UK at the beginning of 2025 UK government borrowing falls to lowest in three years Will Santa gift investors with a stock market rally? Download the Yahoo Finance app, available for Apple and Android. View Comments |
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