Playing FTSE Netflix Sinks & B&M Stinks - Plus A Hot New IPO!
Who buys branded tuna!? Find out on this week’s PlayingFTSE Show!
Both Steves have nailed it this week – head of the FTSE 100 and the S&P 500. There are 51 other weeks in this year, sadly, but we’ll take the wins where we can get them.
Netflix shares fell 10% as earnings came in below expectations. But this was the result of a one-off tax hit in Brazil that’s going to mess up the P/E ratio for the next 12 months.
Does that make a buying opportunity? It’s hardly the 2022 situation where everything looked like it was going wrong, but valuation multiples do look a bit more attractive…
Another week, another accounting issue at a UK company. This time it’s B&M where the CFO has resigned after a change in software has resulted in an error in cost recognition.
We’ve seen this before with WH Smith and Vistry in recent months. Steve W owns both of those stocks, but it’s Steve D who’s looking at this one – what does he think of it?
It’s a debut on the show for S&P 500 industrial CNH Industrial. Warren Buffett disciple David Einhorn was buying the stock around a year ago and it’s gone nowhere since.
Steve W’s interested in a potential secular growth story. The balance sheet looks like a mess, but with receivables offsetting a lot of debt, is it actually as bad as it looks?
There’s a new IPO coming to the UK markets and we’re not talking about the Princes people who make fish and tomatoes. It’s Shawbrook – an upstart fintech.
It doesn’t have an app, but who needs one of those when you can make loans with 35% interest rates? Steve D has the details of a bank that looks like it’s doing things differently.
Only on this week’s PlayingFTSE Podcast!
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► Timestamps:
0:00 INTRO & OUR WEEKS
6:56 NETFLIX
23:11 B&M EUROPEAN BARGAINHOLE
43:02 CASE NEW HOLLAND
58:21 NEW HOT IPO!
► Show Notes:
What’s been going on in the financial world and why should anyone care? Find out as we dive into the latest news and try to figure out what any of it means. We talk about stocks, markets, politics, and loads of other things in a way that’s accessible, light-hearted and (we hope) entertaining. For the people who know nothing, by the people who know even less. Enjoy
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This information is for entertainment purposes only and does not constitute financial advice. Always consult with a qualified financial professional before making any investment decisions.