As we move into the latter part of July, we anticipate a flurry of results and financial updates from both sides of the Atlantic. Key companies to keep an eye on include Ocado, easyJet, Tesla, Netflix, and several others.
On the macroeconomic front, major events to look forward to include the release of the UK inflation data on Wednesday.
Monday, 17th July:
Significant updates: Final reports: Brickability Group PLC (AIM:BRCK), Gore Street Energy Storage Fund PLC (LSE:GSF), Northern Bear PLC (AIM:NTBR)
Annual General Meetings: Tower Resources PLC (AIM:TRP)
Economic updates: NY Empire State Manufacturing Index (US)
Tuesday, 18th July
The pace accelerates on Tuesday, with a highly anticipated report from Ocado Group PLC (LSE:OCDO), a robotic grocery delivery company. Despite being one of the most shorted stocks in Europe, it has been predicted to perform well.
The Restaurant Group PLC (LSE:RTN), the owners of Wagamama, are also due to share a half-year trading update. This comes amidst increasing costs and demands from shareholders for business separation.
Later in the day, additional major US banks will release their reports, as the earnings season kicks into high gear.
Key announcements for Tuesday:
Trading updates: Artisanal Spirits Company PLC, Integrafin Holdings PLC, Rio Tinto PLC (LSE:RIO)
Interim Reports: Ocado Group PLC
Final Reports: Petra Diamonds Ltd
US earnings: Bank of America Corp (NYSE:BAC), Morgan Stanley (NYSE:MS)
Annual General Meetings: Alkemy Capital Investments PLC (LSE:ALK), Bloomsbury Publishing PLC (LSE:BMY), e-Therapeutics PLC, Strategic Minerals PLC (AIM:SML, OTC:SMCDF), Worldwide Healthcare Trust PLC (AIM:WWH), Wynnstay Property PLC
Economic announcements: Retail Sales (US), Retail Sales Less Autos (US), Capacity Utilisation (US), Industrial Production (US), Business Inventories (US)
Wednesday, 19th July
Inflation is expected to take center stage on Wednesday following the previous month’s data that revealed the UK’s core inflation rate reaching a 31-year high. If another unexpected increase occurs, the Bank of England may consider raising rates to 5.5% in the subsequent meeting.
On the corporate front, Severn Trent Water’s Q1 update will be under scrutiny, especially following the near-failure of its competitor, Thames Water. The opinions of Severn Trent’s CEO, Liv Garfield, will be of particular interest as she has recently advocated for a “new breed of declared social purpose companies”.
Later in the day, Tesla Inc (NASDAQ:TSLA) will release its Q2 results. Despite concerns over recent price cuts, predictions point towards a successful earnings report. Meanwhile, Netflix’s results will show the effect of its recent crackdown on password sharing, which analysts believe could result in a significant revenue and earnings boost.
Significant announcements for Wednesday:
Trading updates: Hargreaves Lansdown PLC (LSE:HL.), Severn Trent PLC (LSE:SVT)
Interims: ASML Holding NV (NASDAQ:ASML), Volvo AB
Finals: Redcentric PLC (AIM:RCN)
US earnings: Goldman Sachs (NYSE:GS), International Business Machines Corp, Netflix Inc (NASDAQ:NFLX), Tesla Inc
AGMs: Caledonia Investments (LSE:CLDN) PLC, Edinburgh Investment Trust (LSE:EDIN) PLC, Experian (LSE:EXPN) PLC, Harbourvest Global Private Equity, HICL Infrastructure PLC, Invinity Energy Systems PLC (AIM:IES, OTCQX:IESVF), JPMorgan European Discovery Trust PLC, Mind Gym Ltd, Triple Point VCT 2011 PLC
Economic announcements: Consumer Price Index (UK), Producer Price Index (UK), Retail Price Index (UK), MBA Mortgage Applications (US), Building Permits (US), Housing Starts (US), Crude Oil Inventories (US)
Thursday 20th July
Expect a hectic Thursday, featuring a Q1 update from Royal Mail’s parent company.
International Distributions Services PLC (LSE:IDS) is anticipated to reveal a shift back to core profitability, although some experts believe the recent pay agreement with strikers might lead to a period of “deterioration before improvement.”
Understanding the current position of easyJet isn’t straightforward for investors. Despite a seemingly favorable context of strong holiday demand and lower fuel costs, the reason behind the airline’s recent cancellation of 1,700 flights from July to September remains puzzling.
At Dunelm Group PLC (LSE:DNLM), the situation appears less turbulent, even though the non-food retail sector is grappling with cost of living pressures. The company’s house broker, however, maintains a fairly optimistic outlook, which isn’t surprising.
For tech-savvy investors with a global focus, the earnings report from the Taiwanese chip titan TSMC may draw attention, especially given its prior warning about revenue drops due to customer destocking.
Key announcements on Thursday include:
Trading updates from Diploma PLC (LSE:DPLM), Dunelm Group PLC, QinetiQ Group PLC (LSE:QQ.), SSE PLC (LSE:SSE), easyJet PLC, International Distributions Services PLC, AJ Bell PLC (LSE:AJB), Diploma PLC, Intermediate Capital Group (LSE:ICP) PLC, Premier Foods PLC, Volution Group PLC (LSE:FAN), and others.
Interim reports from Howden Joinery Group (LSE:HWDN) PLC, PensionBee Group PLC (LSE:PBEE), and Vistry Group PLC (LSE:VTY).
Final reports from Babcock International Group PLC and IG Group Holdings Plc (LSE:IGG).
US earnings announcements from Blackstone Inc, Johnson & Johnson (NYSE:JNJ), Newmont Corporation, Philip Morris International Inc (NYSE:PM), Taiwan Semiconductor Manufacturing Company Ltd, Intuitive Surgical (NASDAQ:ISRG) Inc, among others.
AGMs from Big Yellow Group PLC (LSE:BYG), CT UK High Income Trust PLC, Evgen Pharma PLC (AIM:EVG), FD Technologies PLC (AIM:FDP), Fidelity China Special Situations PLC (LSE:FCSS), Fuller Smith & Turner PLC (AIM:FSTA), GB Group PLC (LSE:GBG), Halma PLC (LSE:HLMA), Intermediate Capital Group PLC, International Distributions Services PLC, Johnson Matthey PLC (LSE:JMAT), Octopus AIM VCT PLC, Pennon Group PLC (LSE:PNN, OTC:PEGRY), Premier Foods PLC, QinetiQ Group PLC, SSE PLC, Weiss Korea Opportunity Fund Ltd, and others.
Economic announcements regarding Public Sector Net Borrowing (UK), Continuing Claims (US), Initial Jobless Claims (US), Philadelphia Fed Index (US), Existing Home Sales (US).
Friday 21st July
Friday is expected to be less hectic. Investors might take an interest in Close Brothers Group PLC (LSE:CBG), whose shares recently hit a decade low. Additionally, its savings accounts are featured on top-rated lists, and the merchant bank is reportedly considering various options for its asset management branch.
TheWorks has notified in advance that its auditor needs more time to conclude standard audit procedures, leading to a quieter day. The retailer of stationery and toys reassured that no adverse findings were discovered and plans to disclose its numbers on Wednesday, 2 August, including an underlying profit (EBITDA) of £9mln, as estimated earlier this year.
UK economic data will prominently feature retail sales and consumer confidence data, both of which saw improvements that exceeded expectations in the last month’s update.
Noteworthy declarations on Friday include:
Trading updates: Close Brothers Group PLC.
US earnings reports: American Express Company (NYSE:AXP) and Schlumberger NV.
Annual General Meetings (AGMs): Bidstack Group PLC (AIM:BIDS, OTC:FTBGF), FirstGroup PLC (LSE:FGP), Northern Venture Trust PLC, and United Utilities Group PLC (LSE:UU.).
Economic updates: GFK Consumer Confidence (UK) and Retail Sales (UK).
