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Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting week commencing 29 January 2024.

Important information - 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.

  • Novo Nordisk - will investments in production lift the lid on 2024 growth guidance?

  • We’ll find out if fourth-quarter cash flows have clammed up for Shell

  • Diageo will be hoping to avoid any more earnings disappointments

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

Among those currently scheduled to release results next week:

29-Jan

No FTSE 350 Reporters

30-Jan

Alphabet*

Full Year Results

Diageo*

Half Year Results

Microsoft*

Q2 Results

Pets at Home*

Q3 Results

Pfizer*

Full Year Results

SSP Group

Q1 Trading Statement

Sthree

Full Year Results

31-Jan

Abrdn Private Equity Opportunities Trust

Full Year Results

GSK*

Q4 Results

Novo Nordisk*

Full Year Results

01-Feb

3i Group

Q3 Operational Performance

3i Infrastructure

Q1 Trading Statement

AG Barr*

Full Year Trading Statement

Airtel Africa

Q3 Results

Amazon*

Full Year Results

Apple*

Q1 Results

Cranswick

Q3 Trading Statement

Glencore

Full Year Production Report

JTC

Q1 Trading Statement

Meta*

Full Year Results

Rightmove

Full Year Results

Shell*

Full Year Results

02-Feb

Chevron*

Full Year Results

*Events on which we will be updating investors.
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Novo Nordisk

Novo Nordisk’s growth of late has been propelled by sales of its GLP-1 medicines in diabetes, with even stronger momentum in obesity care. We look forward to full year numbers next week, where the latest guidance suggests an increase of 32-38% for sales and 40-46% for operating profit.

The forthcoming results provide an opportunity for Novo to set initial guidance for 2024. We hope to hear how investments in manufacturing are relieving production bottlenecks. We’ll also be looking out for an update on the regulatory pathway for a once weekly insulin injection for diabetics, IcoSema, which has recently seen positive clinical trials data.

Prices delayed by at least 15 minutes

Shell

We’re not expecting to see a dip in oil & gas production in Shell’s fourth quarter numbers next week. However, lower refinery utilisation and weaker commodities prices have the potential to dent cash flows.

Volatile pricing is part and parcel of being an energy company. However, an increased commitment to shareholder distributions and significant investment plans in both traditional and renewable energy means that there’s growing competition for funds. Meanwhile, there’s been mounting pressure for Shell to double down on its renewable commitments. So, we’ll be keeping a close eye on Shell’s plans to allocate its cash in 2024.

Prices delayed by at least 15 minutes

Diageo

Back in November 2023, Diageo shocked markets by warning that this year’s revenue and profit would both be lower than expected. This came as performance in its Latin America and Caribbean region was materially weaker than anticipated, with first-half organic sales set to decline by more than 20%. Because of this, first-half operating profit looks set to fall around 4.3% to £3.6bn when the group reports next week.

In the group’s other major regions, momentum is expected to remain positive, with sales rising across the board. The Guinness brewer has a strong portfolio of brands under its belt, which should help it to return to 5-7% organic sales growth over the medium term. We’ll be keeping a close eye on the demand picture, with any further weakness likely to bring this guidance into question.

Prices delayed by at least 15 minutes

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.

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.

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Written by
Aarin Chiekrie
Aarin Chiekrie
Equity Analyst

Aarin is a member of the Equity Research team. Alongside our other analysts, he provides regular research and analysis on individual companies and wider sectors. Having a keen interest in global economics, he knows how macro-events can impact individual companies.

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Article history
Published: 26th January 2024