Among those currently scheduled to release results next week:
02-Feb | |
|---|---|
Palantir* | Q4 Results |
Walt Disney* | Q1 Results |
03-Feb | |
|---|---|
Advanced Micro Devices* | Q4 Results |
A G Barr | Q4 Trading Statement |
PayPal* | Q4 Results |
04-Feb | |
|---|---|
Alphabet* | Q4 Results |
DCC | Q3 Trading Statement |
Eli Lilly* | Q4 Results |
GSK* | Q4 Results |
Novo Nordisk* | Q4 Results |
SSE* | Q1 Trading Statement |
Watches of Switzerland | Q3 Trading Statement |
05-Feb | |
|---|---|
Amazon* | Q4 Results |
Anglo American | Q4 Production Report |
Compass Group | Q1 Trading Statement |
Shell* | Q4 Results |
Vodafone* | Q3 Trading Statement |
06-Feb |
|---|
No FTSE 350 Reporters |
Hopes high for improved trading at Novo Nordisk
Investor sentiment towards Novo Nordisk bottomed out following another downgrade to sales and profit guidance at its third-quarter update in November. Ignoring exchange rate moves, 2025 full-year sales are now expected to rise 8-11%, with operating profit growth faring worse at 4-7%. But it’s been a promising start to 2026, with take-up of the company’s recently launched Wegovy pill for weight management helping to claw back some US market share from arch-rival Eli Lilly.
Attention now turns to this year’s outlook, with pricing and insurance coverage likely to be key points of focus. It’s a complex picture but on balance we think there could be some upside to consensus forecasts of a small fall in 2026 sales. Of course there can be no guarantee, but recent strength in the valuation suggests we’re unlikely to be alone in this view.
AMD expected to challenge the top end of guidance
AMD heads into its fourth‑quarter results with plenty of momentum, outperforming the broader tech sector so far this year. That’s been supported by expectations of sustained demand for its AI chips and production‑planning missteps at CPU rival Intel, which could open the door for AMD to gain market share in 2026. Guidance points to $9.6bn in revenue at the midpoint, though we expect to see a number toward the top end at around $9.9bn for the quarter.
While the longer‑term outlook remains encouraging, we’d urge a little caution in the near term. The valuation already reflects a healthy dose of optimism, and 2026 looks set to be a year of moderating growth (still an impressive roughly 25%) until major AI projects begin to scale in 2027 and beyond. When revenue inflexion points get pushed out, it pays to apply a mental discount. Particularly given AMD has yet to deliver large deployments of rack‑scale AI products, and as even the biggest player in the business, Nvidia, has shown, there are usually hiccups early on.
Cloud growth in focus for Amazon
Cloud growth at AWS is, as ever, the key number to watch when Amazon reports fourth‑quarter results next week. Markets are pencilling in growth of around 21%, which would mark a third consecutive quarter of acceleration, and we’ll be listening closely for any update on supply and demand dynamics. Last time around, demand was still running ahead of available capacity as new infrastructure struggled to keep up.
Amazon shares have largely gone sideways over the past year, with the valuation easing as investors weigh up the scale of the opportunity ahead. There’s a growing debate that, in the AI‑driven phase of cloud computing, returns for the big platforms may not be as attractive, given higher capital intensity and margin pressure. It’s not something that will show up neatly in a single data point, but commentary on these trends is something investors should watch for.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss. Yields are variable and not guaranteed.
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.
