Yahoo Finance Trending tickers: Next | JD Sports | Tesla | Eli Lilly
The latest investor updates on stocks that are trending on Thursday
Next (NXT.L)
Next hiked its profit outlook for the fifth time in less than a year after better-than-expected festive sales.
The retail giant saw full-price sales jump 5.7% higher over the nine weeks to December 30, with growth of 10% in both of the final two weeks before Christmas Day.
It is now forecasting full-year sales to rise by 4% as it said January trading is also set to be better than expected.
Shares in the group lifted 5% as it upped its profit forecast to £905m (£1,151m) for the year to January 27, which would be a 4% rise on 2022-23 and compares with guidance for £885m given in November.
The group is also predicting a 5% rise in underlying group pre-tax profits to £960m for the year ahead on full-price sales up 2.5%, or 6% including recent acquisitions.
Read more: FTSE and European stocks higher as Next hikes profit outlook
Next said trading in the run-up to Christmas was better than expected for across its stores and online, with sales up 0.6% and 9.1% respectively in its Christmas quarter to December 30.
The firm said consumers are set to be boosted in 2025 as wages finally outstrip inflation.
JD Sports (JD.L)
JD Sports has warned that it expects profit to be up to £125m lower this year than previously predicted as it was hit by offering more promotions than had been anticipated.
The sports fashion retailer said that organic revenue growth on a constant-currency basis was 6% in the period, with like-for-like growth of 1.8%, which was slightly below its expectations.
Pre-tax profit is expected to be between £915m and £935m before adjusted items in the year to early February. In September it had forecast the same figure to reach around £1.04bn.
“Apparel revenue growth was impacted by milder weather from the second half of September, while the peak trading season, across the market, was softer and more promotional than we anticipated, reflecting more cautious consumer spending,” it said.
Tesla (TSLA)
Shares in Elon Musk’s EV maker were higher in extended trading as Cathie Wood started buying shares, going against Wall Street’s dim outlook on the company.
Funds operated by Wood’s firm Ark Investment Management LLC have bought about 216,000 shares of the company over investments made on Dec. 20 and Jan. 3, according to Ark’s daily trading data compiled by Bloomberg.
Tesla reported Tuesday that it delivered 484,507 vehicles during the fourth quarter and 1.81 million in 2023, exceeding its 1.8 million target.
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However, Wall Street was not impressed as investors are generally negative around demand for EVs in 2024.
Eli Lilly (LLY)
Shares in pharma Eli Lilly pushed higher in extended trading after the analysts said the company will generate the highest global new drug sales in 2024.
Eli Lilly's GLP-1 drug Zepbound is poised to "dominate" the weight loss market, according to a recent note from BMO.
Analysts at Evaluate said in a report diabetes and obesity drugs became the top trend in the biopharma industry in 2023 and to expect more this year.
With their obesity drugs dominating the market, Novo Nordisk (NVO) and Eli Lilly will generate the highest global new drug sales in 2024
The analysts at Evaluate expect Novo’s sales increase to approach $8bn in 2024, while Lilly’s will come in at close to $5bn.
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