Yahoo Finance Trending tickers: Tesla | BAE Systems | Tullow Oil | British Land
The latest investor updates on stocks that are trending on Monday
Tesla (TSLA)
Tesla stock was up 0.3% in pre-market trading on Monday, after a 2.2% rise on Friday, as petrol station company EG Group has announced it will acquire the electric car manufacturer’s network of ultra-fast chargers.
The so-called superchargers are popular among EV drivers for their reliability and speed.
EG, run by Asda owners Mohsin and Zuber Issa, said the chargers will be branded "evpoint" and will be available to all electric car drivers. It is aiming to expand its charging network from over 600 chargers currently deployed to more than 20,000 chargers at its own sites over time.
Zuber Issa said: "Securing this best-in-class equipment from Tesla marks another milestone for evpoint and is hugely exciting for us.
"It is the first deal of its kind entered into by Tesla with a third-party charge point operator in Europe and will transform how our customers charge their vehicles and how they interact with EG.
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"Since installing our first EV charger back in 2012, we have continued to invest in the technology. This deal will accelerate the delivery of vital charging infrastructure for motorists to help power the transition to net zero."
According to the RAC, as of August, there were more than 1,100 Tesla chargers across the UK in 115 locations.
BAE Systems (BA.L)
Shares in BAE Systems climbed 0.5% in London after it announced its order intake was more than £30bn ($36.7bn) in the year to date.
Britain's largest defence company maintained its guidance for annual earnings to rise as much as 12%.
In August the firm upgraded its forecast saying that earnings per share would grow by 10%-12% in 2023 after orders soared after Russia's invasion of Ukraine last year. Since then there has also been instability in the Middle East.
BAE confirmed that it had booked £10bn of orders since the end of June, including £3.9bn of funding for the next phase of the AUKUS submarine programme between Australia, Britain and the United States.
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"Trading has been in line with the upgraded guidance we issued at the time of our 2023 half-year results. We are delivering another year of good sales and earnings growth, together with strong cash flow generation," chief executive Charles Woodburn said in a statement.
"Order flow on new and existing programmes, renewals on incumbent positions and progress with our opportunity pipeline remains strong.
"These underpin our confidence and visibility for good top line growth in the coming years, and we continue to reinforce our value compounding model with a sharp focus on operational performance and disciplined capital allocation."
Tullow Oil (TWL.L)
Tullow Oil has announced that it has secured a fresh five-year loan facility as it seeks to manage its heavy debt burden.
The $400m (£327m ) deal was agreed with miner Glencore (GLEN.L) which allows Tullow to refinance loan notes maturing in 2026. The the oil and gas exploration firm faces interest rates as high as 15% for any amounts drawn under the facility.
At the same time, Tullow agrees to oil marketing and offtake contracts with Glencore.
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Tullow’s net debt position stood at $1.9bn at the end of June.
CEO Rahul Dhir said the deal “demonstrates our ability to access long term capital from a variety of sources and this facility is a material step in our refinancing strategy.”
Tullow shares surged more than 9% on the back of the news.
British Land (BLND.L)
British Land rose as much as 6% during the day as underlying first-half profit came in at £142m, a rise of 3.4%
The owner of the Broadgate Centre in the City of London, and Regent's Place in Kings Cross, also lifted its dividend by almost 5% to 12.16p per share.
Occupancy rates were above 96%, it revealed, helped by a demand for high quality and central office space.
However, values across its property portfolio were down 2.5% to £8.7bn over the half year amid high interest rates.
The group expects its full-year performance to be at the “top end” of previous guidance with hopes that the UK is approaching peak interest rates.
The valuation of retail parks and London urban logistics assets rose 0.2% and 0.6% respectively, but campuses dropped by 4%.
"Whilst in the past 18 months we have delivered good earnings growth, asset values have been impacted by the increase in interest rates," chief executive Simon Carter said.
"The geopolitical and economic landscape remains uncertain; however, with our portfolio yield now over 6% and an increased likelihood we are approaching the peak in UK base rates we expect the strong occupational fundamentals of our submarkets, together with the differentiated quality of our assets, to reassert themselves as the primary drivers of performance."
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