Intertek is just the kind of business one would expect to see flourishing in the wake of COVID-19. One of the lesser-known companies in the FTSE 100, in spite of having a stock market valuation of £9bn, it is the world's biggest provider of quality assurance. It employs nearly 44,000 people around the world in more than 1,000 offices and laboratories, providing assurance, testing, inspection and certification services to clients in sectors as wide-ranging as chemicals, food, healthcare, transportation, energy and construction. On Friday morning it reported a 23% rise in pre-tax profits, to £186.3m, for the six months to the end of June. However, despite what appeared to be a confident trading update, the company's share price plunged by more than 9% at one point - wiping £849m from its stock market value. Advertisement So what went wrong? In a word, it seems that expectations were just a little too high. More from Business Up to quarter of … [Read more...] about Intertek: Profits soar but shares plunge in FTSE 100 firm – so what went wrong for the stock market darling?
Value in supply chain
Image source: The Motley Fool. Tesla ( NASDAQ:TSLA ) Jul 26, 2021 , 5:30 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good day, and thank you for standing by. Welcome to the Tesla second-quarter 2021 financial results and Q&A webcast. [Operator instructions] I would now like to hand the conference over to your speaker today, Martin Viecha, senior director of investor relations. Please go ahead. Martin Viecha -- Senior Director, Investor Relations Thank you, and good afternoon, everyone, and welcome to Tesla's second-quarter 2021 Q&A webcast. I'm joined today by Elon Musk, Zachary Kirkhorn, and a number of other executives. Our Q2 results were announced at about 1:00 p.m. Pacific Time in the update deck we published at the same link as this webcast. During this call, we will discuss our business outlook and make forward-looking statements. These comments are based on our … [Read more...] about Tesla (TSLA) Q2 2021 Earnings Call Transcript
There's no denying that, despite its record-breaking volatility over the past year and change, the stock market is the greatest wealth creator on the planet. Taking into account the dot-com bubble, Great Recession, and coronavirus crash, the broad-based S&P 500 has still delivered average annual total returns (i.e., including dividends) of more than 10% since 1980. Maybe the best thing about investing in stocks is that you don't need to start with a fortune to earn one on Wall Street. If you can spare $50, which won't be needed to pay bills or cover an emergency, you have more than enough to get started in the market or add to your existing portfolio. Here are five of the best stocks you can buy right now with $50. Image source: Getty Images. Sirius XM Satellite-radio operator Sirius XM ( NASDAQ:SIRI ) may not be the growth stock it was more than a decade ago, but it's built a business model that's designed to grow cash flow and operating margin over time. What … [Read more...] about Got $50? 5 of the Best Stocks to Buy Right Now
British shipbuilding is set for a "renaissance" following a government U-turn on how it classifies warships. Unveiling the the changes in the Commons on Tuesday, defence procurement minister Jeremy Quin said the new policy will make clear the option to “choose to procure warships of any description here in the UK”. The statement was a reference to building a new class of “fleet solid support” (FSS) ships to provide the Royal Navy with supplies such as ammunition and food, allowing the fleet to stay at sea for longer. Previously, EU procurement rules allowed the Government to restrict bids for warships to UK companies, but the Government had refused to class some Royal Navy support ships as warships. Unions have argued that constructing the £1.5bn contract the three new 40,000-tonne vessels is vital to sustaining Britain’s shipbuilding industry until the next major round of naval contracts. Mr Quin said the reforms marked a "step change" in the Government's approach to the … [Read more...] about Warship U-turn set to boost British shipbuilding
Visiting the empty construction halls of Appledore shipyard on the north Devon coast in August, Boris Johnson gave hope to Britain’s ailing shipbuilding industry. Donning orange overalls, the Prime Minister’s presence marked Infrastrata’s £7m purchase of the site, which previous operator Babcock had closed down in 2019 after running out of work. Having toured the dry dock with John Wood, Infrastrata chief executive, and Appledore’s sole remaining worker, caretaker Clifford Edwards, Johnson set out a bold vision. “This new chapter for Appledore will create hundreds of jobs and drive forward our ambitions to become a shipbuilding superpower,” the Prime Minister said. He doubled down in his recent party conference speech , saying the Conservatives “aren’t embarrassed to sing old songs about how Britannia rules the waves – in fact, we are even making sense of it with a national shipbuilding strategy that will bring jobs to every part of the UK”. But for Britain to once again … [Read more...] about Sink or swim time for UK shipbuilders as foreign rivals force them to carve a niche