Skip to main content
  • rainbow over text: 'thank you NHS'
  • Register
  • Help
  • Contact us
  • Log out of your HL account

Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Among the companies reporting next week:

  • Ocado hopes to report smooth sailing in the Solutions division.
  • We’ll take a look at Barrick’s first full year with Randgold as part of the family
  • Pepsico expects to meet revenue targets, but earnings are expected to fall

FTSE 100, FTSE 250 and selected other stocks reporting next week

10-Feb
No FTSE 350 reporters
11-Feb
Ocado* Full Year Results
TUI Q1 Results
12-Feb
Babcock Trading Statement
Barrick* Full Year Results
Dunelm Half Year Results
Heineken* Full Year Results
Plus500 Full Year Results
Primary Health Properties* Full Year Results
13-Feb
Barclays* Full Year Results
Centrica* Full Year Results
Coca Cola HBC Full Year Results
Great Portland Estates Q3 Trading Statement
Lancashire Holdings Full Year Results
Nestle* Full Year Results
Nvidia* Full Year Results
PepsiCo* Full Year Results
RELX Full Year Results
Safestore Q1 Trading Update
14-Feb
AstraZeneca* Full Year Results
Royal Bank of Scotland* Full Year Results
SEGRO Full Year Results

*Companies on which we will be writing research

Ocado

The sale of 50% of the retail business to M&S means we’ll soon be able to shop thousands of M&S products online, but it also means this side of the business isn’t where attention should be focused.

Instead we’ll be looking for news in the Solutions division – where retailers pay Ocado to use its robotic systems. This part of the business is Ocado’s future growth lever, so making deals to sign up new retailers is important. The latest came from Japan’s Aeon, one of Asia’s largest retailers. That’s great news, but we’d like to hear how things are progressing.

A deal of this size brings execution risk, and we’d like to know if plans are on track. We’ll also be keeping an eye on cost expectations - operating costs for this year were upped by £25m following the deal announcement.

Due to all the investment in its tech-heavy customer fulfilment centres, Ocado isn’t turning a meaningful profit, and therefore hard to value. But on a price to sales basis, the shares are trading well above the ten year average. That’s a mark of confidence from the market, but also means the pressure’s on to execute plans without any glitches.

See the latest Ocado share price, charts and how to trade

Sign up for Ocado updates

Barrick

We’ve already had a sneak peek at how Barrick finished 2019. Gold production for the year was at the upper end of guidance at 5.5m ounces and Copper production exceeded expectations at 432m pounds. We also know 2019 was a positive year for the gold price, finishing the financial year 22% higher.

But whilst this is good news, Barrick’s profit is a function of both selling price and cost, and only one is under its control. That means we’ll be paying close attention to costs next week, specifically the ‘all in cash cost’ (which includes the cost of extraction plus expenditure required to maintain current production levels). Barrick has a reputation for having one of the lowest in the industry, so we’ll be keen to see if this reputation is held.

2019 was Barrick’s first full year with Randgold as part of the family. When companies merge, it often means there’s a bit of duplication – perhaps two lots of administrative teams or two marketing teams. This can present opportunities for costs savings, so we’ll be looking out for details on any efficiencies Barrick’s managed to find.

Away from gold, Copper’s been sighted as a “strategic” metal for the group –viewed as an important part in the clean energy story. The red metal’s having a tough time at the moment, with Chinese demand upset by the Coronavirus, but we’ll be interested to hear of any longer term Copper plans.

See the latest Barrick share price, charts and how to trade

Sign up for Barrick updates

Pepsico

Pepsi has had a pretty good year so far, and confirmed in its third quarter results that it expects to “meet or exceed” its 4% organic revenue growth target. Despite this, core earnings per share are expected to fall 1% – mainly because the group will be lapping some one-offs from 2018 and has increased investment in 2019.

By far the largest contributor to the group’s profit is Frito-Lay North America – not Pepsi’s eponymous drink. The division sells snacks across the pond such as Doritos and Lay’s crisps (Walkers to you and me). Sales have been growing at 5% this year, which management attributes to increased marketing and the breadth of brands.

The second largest profit centre, Pepsico Beverages North America, has seen volumes fall 1.5% so far this year. Increased prices have kept revenue ticking up, but investors will hope the fourth quarter has seen a return to volume growth.

See the latest Pepsico share price, charts and how to trade

Sign up for Pepsico updates

Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Thomson Reuters. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.


Share insight: our weekly email

Sign up to receive weekly shares content from HL

Please correct the following errors before you continue:

    Existing client? Please log in to your account to automatically fill in the details below.

    Loading

    Your postcode ends:

    Not your postcode? Enter your full address.

    Loading

    Hargreaves Lansdown PLC group companies will usually send you further information by post and/or email about our products and services. If you would prefer not to receive this, please do let us know. We will not sell or trade your personal data.

    Important notes

    This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

    Editor's choice – our weekly email

    Sign up to receive the week's top investment stories from Hargreaves Lansdown. Including:

    • Latest comment on economies and markets
    • Expert investment research
    • Financial planning tips
    Sign up

    Related articles

    Category: Shares

    Next week on the stock market

    What to expect from a selection of FTSE 100, FTSE 250 and selected overseas shares reporting next week.

    Nicholas Hyett & Sophie Lund-Yates

    22 May 2020 5 min read

    Category: Shares

    Next week on the stock market

    What to expect from a selection of FTSE 100, FTSE 250 and selected overseas shares reporting next week.

    Sophie Lund-Yates

    15 May 2020 5 min read

    Category: Shares

    Busting the supermarket myths

    Sophie Lund Yates, Equity Analyst, explores what coronavirus currently means for supermarkets, and why it’s not necessarily the good news you might expect. She looks at FTSE 100 retailers Tesco, Sainsbury, Morrison among other supermarkets.

    Sophie Lund-Yates

    14 May 2020 7 min read

    Category: Shares

    Coronavirus and stock markets so far – the shares that have caught our eye

    We take a look at the companies and trends that have caught our share research team's attention in the last couple of weeks.

    Nicholas Hyett, Sophie Lund-Yates and Emilie Stevens

    14 May 2020 8 min read