The FTSE-250 listed advanced materials engineering firm published full year numbers today which painted a strong enough picture for FY24 but it appears that uncertainty over the outlook has tipped investor sentiment against the stock. Management noted that they expect a single-digit decline in organic revenues, with demand for semiconductor capacity having been impacted by the slower growth in BEVs, leading to higher customer inventory levels. The previously announced share buyback program is continuing but the Morgan Advanced Materials share price was down 17% in early trade.
International Consolidated Airlines Group
The parent company that owns airlines including British Airways and Iberia published full year results this morning but despite some bumper numbers including operating profits up 27%, investors have offered a rather muted response. That’s despite the EUR1bn share buy back that has also been tabled, but is the fact transatlantic air travel proved a key drive a cause for concern, with a potentially more insular US market now developing? The IAG share price was up by just over 4% at 9am.
Shares in the FTSE-100 listed educational publisher Pearson had a good start to the week’s final session after the company announced its full year results. Numbers were broadly in line with expectations, the outlook is offering no cause for concern and a £350m share buyback scheme was also announced. Whilst the gains have been far from dramatic, the Pearson share price was up by almost 5% in the first hour of trade.
Most read news on Investegate this morning
IAG FY 2024 Results - - International Consolidated Airlines Group SA (CDI) (IAG)
Acquisition - - Weir Group (WEIR)
Statement regarding Shareholder Consultation - - Yellow Cake (YCA)
