Yahoo Finance Trending tickers: Tesla | AMD | JD Sport | Severn Trent
Tesla (TSLA)
Tesla looked set to open 1.6% higher when trading starts in the US later today, despite reports that it may miss its targets for third-quarter deliveries.
Planned factory shutdowns and soft demand has led to it giving more discounts. Factories in Europe and China had experienced downtime in order to prep production lines for the Model 3 sedan and the Cybertruck.
Confidence in Tesla has been bolstered by the retooling, which may help power its fourth quarter, according to brokerages including Barclays, Baird and Guggenheim.
Analysts estimate Tesla will hand over between 439,200 and 455,000 vehicles in the September quarter, whereas Wall Street had expected 458,713 vehicles.
Read more: UK economy grows by 0.2% in second quarter
AMD (AMD)
Chipmaker AMD's stock finished 4.8% higher on Thursday, and looked set to continue its ascent on Friday, after Microsoft CTO Kevin Scott said AMD’s graphics cards will be increasingly critical to tech businesses.
Chipmakers have become the darling of tech stocks this year as companies vie to dominate in AI and processes that require more computing power. Incumbent chip heavyweight Nvidia's stock has almost tripled this year.
“They’re making increasingly compelling GPU offerings that I think are going to become more and more important to the marketplace in the coming years,” Kevin Scott, Microsoft’s chief technology officer, said of AMD's product at the Code Conference in Dana Point, California, on Wednesday.
It has previously been reported that Microsoft and AMD are working together on a new AI chip.
JD Sports (JD.L)
JD Sports is among top risers in the FTSE this morning, up 5.6%, apparently on the back of stellar results from sports brand Nike, which reported after the closing bell on Thursday.
Nike's revenue for Q1 was up 2% to $12.9bn from $12.7bn the year prior, but net income of $1.5bn was down 1%.
JD Sports has been in good favour in recent weeks following a good set of financial results. It posted profit before tax of £375.2m for the 26 weeks to July 29, 2023, up 25.8% year on year from £298.3m in the same period last year. At the time it said it is on track to open over 200 new stores across the world by January 2024.
Severn Trent (SVT.L)
Water company severn Trent's stock ticked up around 6% by midday in London on Friday after the company said it has raised £1bn from investors like Qatar's sovereign wealth fund to pay for an investment plan to improve its network over the next five years. It also said it would hike bills by around 37% by 2030.
It laid out plans that predict the cost of a bill would be around 1.3% of disposable income of a household versus the 1.2% it represents today.
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