Yahoo Finance Trending tickers: Alphabet, Evergrande, Ryanair and NatWest
The latest investor updates on stocks that are trending on Monday
Alphabet (GOOGL, GOOG)
Alphabet-owned Google has unleashed a wave of spending on AI start-ups and internal research and development as it rushes to integrate the technology into their products. Investors are waiting to see if the race against time and Microsoft (MSFT) has paid off as Google is scheduled to post fourth quarter earnings on Tuesday.
The consensus mark for earnings is pegged at $1.60, indicating 52.4% growth from the previous year’s reported figure.
Alphabet's revenue is expected to be $85.24bn (£67bn), up from $76.05bn in the fourth quarter of 2022. Analysts anticipate net income to be $20.28bn, up from $13.62bn in the fourth quarter of 2022.
“On the artificial intelligence front, demand will likely drive growth in Google’s cloud business. We believe reduced economic uncertainty, combined with the necessity of AI to operate more efficiently, will bring in more cloud clients and increase client usage,” Ali Moghrabi, senior equity analyst at Morningstar, said.
Evergrande (3333.HK)
Shares in the Chinese property developer plunged 20% before a court in Hong Kong ordered its liquidation.
Once China’s biggest developer, Evergrande has reported more than $300bn in liabilities, earning the title of the world’s most indebted property developer.
Judge Linda Chan said "enough is enough" after the troubled developer repeatedly failed to come up with a plan to restructure its debts.
Read more: Stocks that are trending today
Despite the ruling, analysts are sceptical any of them will get repaid in full. Some 90% of its assets are in the mainland, according to the Hong Kong court judgment on Monday, meaning Beijing could choose to shrug off the court order.
"I doubt (Evergrande's) offshore creditors would receive substantial recovery proceeds from the liquidation order," Zerlina Zeng, a credit analyst at Creditsights Singapore LLC, told Bloomberg.
The landmark ruling could send ripples across the country’s financial system at a time when authorities are trying to curb a stock market sell-off.
Ryanair (RYA.IR)
Ryanair revealed sharply falling profits following a surge in fuel costs and cut its full-year profit outlook after being removed from some online travel agent websites.
The budget carrier reported after-tax profits slumping to €15m (£12.8m) for its third quarter to the end of December, from €211m (£180m) a year earlier.
The Irish airline said the group’s fuel bill surged by 35% to €1.2bn (£1bn), which outweighed a 17% rise in revenues.
Read more: FTSE 100 LIVE: European markets calm after court orders Evergrande liquidation
Ryanair has told Boeing (BA) that if any US customers refuse to take delivery of 737 MAX 10 aircraft, that it would buy them “at the right price”. Boeing has been mired in regulatory and safety concerns following the Alaska Airlines incident where a fuselage plug blew off an aircraft earilier in January.
Ryanair, Europe’s largest by passenger numbers, already has 150 firm orders for the MAX 10, the largest jet in the 737 family, and options for 150 more, with the first deliveries due in 2027.
NatWest (NWG.L)
The UK government could kick off a sale of NatWest shares to the public as early as the middle of this year, once a permanent chief executive has been installed at the bank, according to reports.
The multibillion-pound public sale of shares in the high street lender could take place as soon as June, The Times said. Shares are expected to be priced at a discount to make them more appealing to retail investors.
A contract to a market research company has been awarded to study the public's views, alongside a tender to public relations firms and advertising companies who would work on the marketing campaign.
NatWest remains 36% owned by the government after it was rescued during the financial crisis.
Watch: China property giant Evergrande told to liquidate
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