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Shell (SHEL.L)
Shell shares slipped more than 1% on Wednesday after the oil major posted a trading update in advance of fourth quarter and full-year results on 30 January.
The company cut its forecast for liquefied natural gas (LNG) in the last quarter of 2024 after production dropped. It said it expects profits in its gas business to be “significantly lower” than the previous three months.
Shell is the world’s largest trader of LNG, the product which makes up a significant part of many countries’ energy supplies.
Meanwhile, margins in its oil refining business remained at about $5.50 a barrel, having fallen sharply last year.
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The update also included a $1.3bn (£1.04bn) charge “related to timing of payments of emissions certificates” in Germany and the US.
Shell also warned that its “trading & optimisation results” are expected to be significantly lower than in Q3 2024, partly due to an expiring hedging contract.
Shell is the second-biggest company in the FTSE 100 (^FTSE), by market capitalisation, and last year chief executive Wael Sawan suggested the company would look at “all options” to raising its share price, including potentially moving its listing to New York.
Nvidia (NVDA)
Nvidia tumbled more than 6% on Tuesday, a day after shares closed at a record high. It came as traders digested CEO Jensen Huang’s presentation at the CES tech show in Las Vegas on Monday night, which gave a flurry of updates on upcoming products.
The firm unveiled its next-generation of gaming chips and pledged the "ChatGPT moment for general robotics is just around the corner".
Huang also introduced an AI model, called Cosmos, which he said could generate video that can be used to train robots and self-driving cars at a much lower cost than current methods.
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Analysts at Stifel, Wedbush, and Truist Securities reiterated their buy ratings on the stock. On average, Wall Street analysts tracked by Yahoo Finance see Nvidia shares rising to $172.80 over the next 12 months.
“[T]he company continues to position itself more favourably — not just in the datacentre but increasingly at all areas of the edge — from client compute to autonomous vehicles to robotics — supporting revenue growth and our Buy rating on the stock,” Truist Securities analyst William Stein, who holds a Buy rating on the stock, wrote in a note to investors Tuesday morning.
(NVDA)
Flutter Entertainment (FLTR.L)
Flutter Entertainment was under pressure as the online betting firm downgraded its US guidance, citing unfavourable sports results.