Yahoo Finance Trending tickers: IAG | NatWest | AstraZeneca | Intel
A look at the stocks making headlines on Friday
IAG (IAG.L)
British Airways owner International Consolidated Airlines Group (IAG.L) headed more than 2.7% higher in early trade following its first-half report.
Operating profit in the first half of 2023 reached €1.3bn (£1.1bn/$1.67bn), up from a loss of €446m (£383m) in the same period last year.
Revenue reached €13.6bn (£11.7bn), an increase of nearly 45% year-on-year.
Numbers were supported by a bump in fares, which were up by an average of around 9.5%, while fuel prices increased by 5.7%.
“Our strong profits since the start of the year are helping to fund investment for our customers, and to improve our balance sheet by reducing debt," said IAG CEO Luis Gallego. “We are aiming to be back to pre-pandemic capacity at the end of this year."
Read more: LIVE: FTSE 100 rises as NatWest Coutts row continues to play out
“These results are thanks to a strong performance from all companies across the group, and we would like to thank our teams for their hard work during the year so far," he added.
Analysts believe challenges for the group will come from pilot shortages, cabin crew training, and wage inflation pressures, which may have a detrimental effect on network expansion plans.
NatWest (NWG.L)
NatWest stock was flying higher in early trade in London in spite of a major leadership reshuffle at the taxpayer-backed bank. By mid-morning it was trading around 1.8% higher.
Earlier this week its CEO Alison Rose said she would step down, after it was revealed she had inaccurately briefed a BBC journalist about the banking matters related to politician Nigel Farage's account at private bank Coutts.
Howard Davies is set to continue leading NatWest as its chair, as it attempts to ride out the Nigel Farage scandal.
“At yesterday’s board meeting, we agreed the terms of reference of an independent review led by Travis Smith into the handling of Mr Farage as a customer of Coutts and the way in which information about that issue has been handled within the bank,” Davies said.
Coutts CEO Peter Flavel has also resigned.
Meanwhile on Friday, NatWest revealed £3.6bn ($4.6bn) in pre-tax profits — an increase on the £2.6bn achieved in the same period last year. Its bottom line was boosted by rising interest rates.
AstraZeneca (AZN.L)
Pharma giant AstraZeneca's first half results beat analysts estimates for the first half, even as sales of its COVID vaccine dry up.
The drugmaker posted an adjusted profit of $2.15 per share, up 25% and exceeding the $1.98 per share expected in company-compiled consensus estimates.
Total revenue in Q2 was $11.4bn, up 6%. this outpaced company-compiled analyst estimates of $10.97bn.
Intel (INTC)
Chipmaker Intel's stock finished Thursday more than 7% higher in the US as it beat its second quarter earnings guidance.
Intel is one of the companies that has been hit hard by the slump in PC sales, but its latest numbers suggest brighter days are ahead.
In the second quarter, Intel reported a surprise profit of 13 cents a share. That compared with a loss of four cents predicted by analysts. Revenue fell 15% to $12.9bn, but that beat projections of about $12bn.
Watch: Intel stock rises on earnings beat, slow recovery in PC segment
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