Playing FTSE

► Get a free share! This show is sponsored by Trading 212! To get free fractional shares worth up to 100 EUR / GBP, you can open an account with Trading 212 through this link https://www.trading212.com/Jdsfj/FTSE. Terms apply. When investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results. ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: Was Diageo’s trading update this week really that good? Find out on this week’s PlayingFTSE Podcast! It’s a busy busy show this week. There’s a lot to get through before the end of Q3 and Steve and Steve are ready to go. In quickfire news this week, we’ve got three stocks and some information on UK banks. Halma and Diageo both issued trading updates this week, but was either any good? Meanwhile, iPhone 16 sales seem to be set to come in lower than the previous model. But at least there’s some good news – banks now have to refund fraud more quickly! There’s been some sobering news from the UK pension scene recently. People aren’t saving enough, and they’re drawing down their savings early. It’s not easy putting money aside with the cost of living going up. But Steve D has some ideas that people might think about if they’re looking over their pensions this weekend. Card Factory is a new one for the show, though friend of the show JKR likes it. Steve W’s been taking a look as the stock fell 21% this week. Inflation has been cutting into profits. But should investors be surprised after the guidance in the annual report just a few months ago? Micron was a very popular stock a few years ago. Superinvestors were crawling all over the memory chip company, but things have gone quieter later. Steve D’s been taking a look after the stock popped 14% this week. But is now the time to buy it – and if not, then when? Steve W liked the look of A.G. Barr back in July. The stock climbed after that, but it’s fallen back to below where it was before. Given this, is it a second chance at a stock that got away? Or is the new CEO a sign that things are going in a different direction to the one that Steve was expecting? Only on this week’s PlayingFTSE Podcast! ► What We Consumed This Week: Pensions: https://ifs.org.uk/articles/are-people-saving-enough-their-pensions ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro & Our Weeks 5:16 Bank Fraud News 9:07 iPhone Sales Slump 13:17 Drinks on Diageo! 17:36 Check Your Pension 24:47 Card Factory 42:50 Micron 53:53 AG Barr ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com ► Disclaimer: 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.

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► 10% Off Merch One Day Only Sunday 22nd Use code TENOFF for ten percent discount on everything! https://playingftse.teemill.com/ ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: Who stole a life-sized cardboard cutout of Victoria Beckham? Find out on this week’s PlayingFTSE Show! It’s been a week of D&V in both the Steves’ households. But the stock market has been much more positive. We’ve got a UK theme this week, with a look at some of the stocks that don’t usually make the headlines. But we haven’t forgotten the Fed’s big news on interest rates from the US. Lots to get through in rapid news this week. Steve W has been looking at a 50-point rate cut from the US central bank and wondering whether a new CEO can get Nike back on track. Steve D has been paying attention to some potential tax changes close to home and watching a big fall on Progyny shares. And he’s also got a bit of stop-press surprise news for Steve W… Games Workshop announced its end-of-year results this week. And Steve W thinks they were strong, with decent growth in an environment that has been challenging for some. The big news, though, is that 27% of shareholders voted against the CEO’s pay package. Are they just being ungrateful, or is there more to the story here? Steve D has been looking at the AIM market. With companies like Ashtead Technology and Fevertree, it’s one that we’ve talked about before, but without really getting into the details. The new UK government is reported to be setting its sights on some of the benefits of being AIM-listed. But would this be a good idea, or a big mistake? W.H. Smith is a company we haven’t talked about before on the show. Mostly because it’s a boring FTSE 250 brick-and-mortar retailer that’s priced like a growth stock – or so it seems... Steve W thinks there’s more going on here. Around 75% of the company’s earnings come from a much more interesting area and a P/E multiple of 29 isn’t necessarily what it seems… Only on this week’s PlayingFTSE Podcast! ► What We Consumed This Week: https://www.fidelity.co.uk/markets-insights/personal-finance/personal-finance/autumn-budget-how-labour-might-change-isas-and-the-dividend-tax/ ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro & Our Weeks 5:45 Quick Rightmove 8:40 Quick FED 12:19 Quick ISA Raid 18:04 Quick Nike 20:25 Quick Progyny  24:45 Games Workshop 36:47 Inheritance Tax 47:15 WH Smith ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com ► Disclaimer: 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.

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ►Episode Notes: Who’s been giving their money to the stock market? Find out on this week’s PlayingFTSE Show! It’s been a positive week in the stock market and the Steves are both up in their portfolios. But one of them has knocked the cover off things over the last 7 days. In quickfire news we’re looking both sides of the Atlantic. US railroad Norfolk Southern has fired its CEO while UK industrial Renishaw has issued a good trading update. There’s also been a positive earnings report from Adobe, as inflation starts to approach the FED’s target in the US. But how important is this? The Rentokil share price fell 20% this week after a profits warning. And we’ve had a question from a viewer about whether Steve W still wants to buy this one. It’s not been a good peak season for the firm and the integration of its big acquisition is taking time. But at around 18 times this year’s earnings, it might be too cheap to ignore… Steve D has been looking at Inditex – a really interesting fashion company that trades on the Madrid stock exchange. The industry has been tough lately, but this looks different. There are signs of a genuine moat around this business that offers some protection from shifting trends. And not being exposed to the US consumer right now also helps… Starbucks has been through a lot lately – both as a stock and as a business. Steve W has been taking a look at the situation and the job facing the new CEO. The company looks like it’s in a difficult spot. But can Steve D see a way through the clouds to a brighter outlook for investors? Only on this week’s PlayingFTSE Podcast! ► Extra Items: Enjoy My Mug: https://playingftse.teemill.com/product/if-in-doubt-do-nowt-mug/ Renishaw: https://open.spotify.com/episode/3J1tC4n2OXhu5892910abr?si=axKm5i4LTSqTjNJjbPoKpQ ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro & Our Weeks 4:55 Cricket 9:10 Quick Inflation 11:45 Quick Adobe 16:26 Quick Norfolk Southern 19:47 Renishaw Earnings 23:19 Rentokil News 39:52 Inditex 54:07 Starbucks News ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com ► Disclaimer: 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.

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: What is spodumene? Find out on this week’s PlayingFTSE Show! It feels like the end of the summer in the UK. Steve D is getting ready for a special someone’s birthday while Steve W is celebrating with some peanut brittle. This show was recorded on September 5th. The markets hadn’t been kind in the run-up to this episode, but it was before things got even tighter on Friday… In quickfire news we’re looking at news from the UK and the US. At home, the British ISA is now officially a non-starter and there’s a chance Rightmove might be selling up. In the US, some weak PMI data and a subpoena caused Nvidia shares to sell off, while Zscaler had a small dip after some decent earnings. Time to buy, or cause for concern? Steve W’s fascination with US freight trains continues. After a discussion of CSX, he’s been taking a closer look at their main competitor. Norfolk Southern has had a turbulent few years. But has the PlayingFTSE Show’s value investor been a bit too quick to dismiss a former Warren Buffett favourite? Steve D has been looking at a new stock that was mentioned on the Trading212 Forum. Ashtead Technology is an underwater equipment lessor that looks very interesting. The company looks like it can benefit from both traditional and renewable energy. The stock doesn’t look expensive and there’s a lot to like about the management team, too. Albemarle’s share price has had a difficult time since 2022. The cost of lithium falling as electric vehicles fail to take market share has caused the stock to drop a long way. Steve W thinks now might be the time to have a look at the company, though. With some of the best assets in the world, what are the risks investors need to worry about? Only on this week’s PlayingFTSE Podcast! ► What We Consumed This Week: Norfolk Southern Article: https://yale.app.box.com/s/d009mv14ictfpeokpixqy6znllq4ay8m ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro  1:18 Announcement 2:04 Our Weeks 4:04 BISA Gone 7:38 Nvidia Rocked 10:36 Zscaler Results 13:45 Rightmove For Sale 17:26 Norfolk Southern 29:32 Ashtead Technology 45:24 Albemarle ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com ► Disclaimer: 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.

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: Why is this not Steve W’s favourite time of the year? Find out on this week’s PlayingFTSE Show! Steve W is back from holiday and ready to dive into what’s been going on in the stock market. There’s plenty to talk about and Steve D is ready to go… In our rapid review of this week, we’ve got four companies to talk about. Bunzl reported strong growth and Crowdstrike seems to be holding up ok after its big outage. Elsewhere, Salesforce looks to be reaching its final form in terms of growth. And Ryanair sent several stocks higher – including its own – with an announcement about winter travel. A few months ago, Steve D asked whether there might be anything from Europe that Steve W wanted to buy. Well there is and it’s time to talk about it. Svenska Handelsbanken is a Swedish bank that does things a bit differently to the rest of its peers. It also seems to hold up well in a crisis, so why isn’t Steve W buying it yet? Nvidia’s latest earnings report indicates yet more strong growth. The market didn’t love it, sending the stock down afterwards, but the company’s scale is staggering. As well as the hyperscalers, entire governments are throwing cash at Jensen Huang’s company. So is the latest setback a buying opportunity at this point for either Steve? Warren Buffett loves the US railroads and Steve W has been looking at one in particular. CSX operates across the Eastern US and produces some steady results. The stock also looks reasonably cheap at the moment. And with better operating margins than Apple or Alphabet, could this be an opportunity that’s hiding in plain sight? Only on this week’s PlayingFTSE Podcast! ► What We Consumed This Week: ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 4:48 Quickfire Bunzl 7:54 Quickfire Crowdstrike 12:01 Quickfire Ryanair 16:01 Quickfire Salesforce 21:30 Handelsbanken 32:37 Nvidia 47:58 CSX ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com ► Disclaimer: 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.

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: What’s a Montessori bed? Find out on this week’s PlayingFTSE Show! Steve W’s been on holiday this week, so this show was recorded on August 16th. Don’t worry, though, there’s still been plenty to talk about. We’re sticking to the globetrotting theme for our quickfire round. Latin American StoneCo is on the list – Steve W made a mess of buying and selling it a few years ago, but how’s it doing now? After that, we’re off to the Swiss Alps to talk about On Running, the US for an update on Deere, and Uruguay to find out about dLocal. But which, if any, have the Steves been buying recently? Tencent is one of those stocks that people either love or hate, mostly depending on how they feel about investing in Chinese equities. But Steve D has been seeing promising signs from the company. The latest update features decent growth and a widening moat. So the big question for investors is when the value equation becomes attractive enough to offset the obvious risk of the VIE structure. Five Below is a stock that probably isn’t on the radar of most UK investors. But Steve W thinks it looks interesting after a big fall since the start of the year. Things have started to look up just recently for the stock, though, so is it too late to buy? With the company exposed to under-pressure consumers in the US, the moment to strike might have passed. As always, we’re interested in what’s been going on with Monday.com. And as always, it’s probably better and more interesting than the attention it gets. It’s easy to see why Steve D likes it – the company is growing like a weed and the stock is close to its IPO price. Could that mean there’s an opportunity here with investors looking the other way? Only on this week’s PlayingFTSE Podcast! ► What We Consumed This Week: ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro & Our Weeks 5:47 Quick On  10:35 Quick Deere  15:01 Quick dLocal  18:37 Quick StoneCo 22:24 Tencent Earnings 33:51 Five Below  47:01 Monday.com ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: Who do both Steves have in their Fantasy Football teams? Find out on this week’s PlayingFTSE Show! After a promising week for share prices, Steve and Steve are looking back on what’s been happening. Not inflation, though – that might have been positive, but nobody cares. In our quickfire round this week, we’re looking at some old favourites that we haven’t thought about recently and some new ideas. We’re off to Brazil, Singapore, the US, and the UK. Synthomer is very much in wait-and-see mode, while Warren Buffett’s favourite Brazilian fintech Nubank is surging ahead. Walmart is a bit more ponderous and Sea Limited has hit the buffers. We’re not just about stocks on the PlayingFTSE Show and Steve D’s seen an interesting opportunity to get 10% on cash. There isn’t really much of a catch, either, £250 per month and 10% per year. Steve W is quite taken with the product and is about to sign up. But don’t miss a really excellent analysis of why this works for all parties from Steve D along the way. Adyen – Steve D’s favourite fintech – has had ‘one of those 20% weeks’. It does that sometimes, but this one makes a lot of sense after some impressive numbers as the company is firing on all cylinders. Steve W’s particularly impressed at the context around those numbers – with everyone else reporting caution, higher volumes means market share gains. But how much of an opportunity is India going forward? Admiral – one of Steve W’s favourite insurers – has seen its share price jump 9%. The UK’s underwriting champion of the world has reported higher volumes and widening margins. That’ll work in any environment and it translates to higher dividends for investors. With the stock up 9%, though, could it still be a bargain for investors to consider? Only on this week’s PlayingFTSE Podcast! ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro & Our Weeks 5:35 Quick Synthomer 9:24 Quick Nubank 13:22 Quick Walmart 16:19 Quick Sea  20:54 10% Savings Account 27:02 Adyen 40:48 Admiral ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: Who accidentally bought a Cherry Pepsi Max this week? Find out on this week’s PlayingFTSE Show! After a massive stock market selloff on Monday, things have largely made their way back to normal. But both the Steves are down plenty enough in their portfolios. That’s ok, though, there’s plenty to talk about. We’ve got earnings from the travel sector, a cybersecurity tech business, and a fertility company to talk about. Following the success of our quick-fire round last time, we’ve got some more. Realty Income’s stock hit a 52-week high and Berkshire Hathaway has been selling Apple – Steve W’s on the case. Steve D has been looking at Vulcan Materials, Eli Lilly, and Reddit. Something of a mixed bag here, but there are some interesting moves going on. Shares in Airbnb fell 15% after the company’s earnings report this week. Steve W thinks the market might be barking up the wrong tree again, though. A slowdown due to weakening travel demand is probably no surprise. But with interest rates about to fall, what effect will that have on the firm’s bottom line? Steve D has been looking at Fortinet – and has made a decision based on the latest update. The stock took a huge jump, so is there more to come, or is it time to get out? A closer look reveals some interesting developments after acquisitions. The stock is at a normal-ish forward multiple, though, so how much margin of safety is there? Disney’s report was one of two halves – according to Steve W anyway. The streaming division is showing signs of strength, turning a profit a quarter sooner than it was supposed to. The parks division is going less well, though, battling inflation and that weak travel demand we talk so much about. The stock is down again, but is this a buying opportunity? Progyny’s shares have been falling and Steve D has been looking at why. There’s some pressure from the macroeconomy, but US big tech has more to do with it than it might seem. Is the stock a buy as it falls further? The long-term demand fundamentals are probably still as good as they were, so is the investment thesis from before still intact? Only on this week’s PlayingFTSE Podcast! ► What We Consumed This Week: ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro & Our Weeks 7:33 Quickfire Round 30:34 Airbnb 44:22 Fortinet 53:29 Disney 1:05:07 Progyny ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: Who’s had an accident with the black treacle? Find out on this week’s PlayingFTSE Show! Some weeks, it’s hard to know what to talk about on the show because the stock market has been quiet. This isn’t one of those weeks. There have been earnings reports coming from all corners and stocks making big moves in either direction. Steve and Steve have a lot on their minds, so here we go. There’s a lot that we couldn’t look at as closely as we might have, just because there’s so much going on elsewhere. But we’ve made a list and decided to blaze over it all quickly with a headline and a key point. Meta, Intel, Pfizer, Nintendo, and Croda all came out with updates this week. Some were good, some were bad, and one was downright ugly – spoiler: the ugly one was Intel… Amazon’s earnings didn’t go over well with the market and the stock is falling as a result. Revenues were down due to consumer switching, but the business is showing growth in all the right places. Beneath that, there’s an awful lot going on that Steve D has been paying attention to. With a close look at the details of what the company is working on, could this be a buying opportunity for either Steve? Steve W has been looking at Apple. The report wasn’t hugely surprising as services revenue grew and iPhone sales fell mostly due to a weak performance in China. These are all themes we’ve seen before and the stock market seemed ok with the news. But is an iPhone supercycle on the way with the latest AI features ready to be unleashed? Diageo shares went down, then up, then down again after the latest earnings release. Weak performances in the US, Latin America & the Caribbean, and Africa led to a decline in sales. Was this such a big surprise, though? Steve W doesn’t think so and Steve D has been taking a closer look at the new CEO’s plans to reinvigorate growth across the product range. Shares in Rolls-Royce jumped 10% after the latest trading update. We could talk about LTSAs, flying hours, and small modular reactors – but who cares, the company’s paying a dividend. At least, it is from 2025. Steve W has been looking at what this might amount to for shareholders and whether it’s worth getting dividend investors excited about future passive income. Only on this week’s PlayingFTSE Podcast! ► What We Consumed This Week: ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro & Our Weeks 6:41 Quickfire 24:10 Amazon 43:28 Apple 54:34 Diageo 1:10:18 Rolls Royce ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com

► Get a free share! This show is sponsored by Trading 212! If you'd like to sign up for an account and get a free share you can do so on the link below! https://www.trading212.com/Jdsfj/FTSE ► Get 15% OFF Finchat.io: Our friends at Finchat.io have kindly offered our subscribers 15% off any paid subscription on their site. We highly recommend this tool for stock analysis and summarising earnings calls! https://finchat.io/playingftse/?lmref=iQl2VQ ► Episode Notes: Which stock did Steve D sell this week? Find out on this week’s PlayingFTSE Show! As the Hundred gets started and the One-Day Cup kicks into action, Steve and Steve are in to talk about about… stocks. Don’t worry, there’s plenty going on there, too. US tech took a bit of a downturn this week as the latest results from Alphabet came out. The report looked ok, but the stock fell 5% and the rest of the stock market had a bit of a tumble with it. Steve D’s been looking at the numbers and thinks things look pretty good in the Cloud division. Steve W’s eye, however, has been drawn to another part of the organisation. Ryanair shares fell 20% this week as the company announced Q2 profits almost halving from the previous year. But Steve W thinks this might – weirdly – not be a bad thing. If the airline industry is going to come under pressure, it might well be a case of survival of the fittest. And Ryanair looks like it’s built to last in ways its rivals might not be. The Kering share price hit a 7-year low this week. And with Gucci – its flagship brand – going through a tough time, Steve D has been rethinking his investment in the company. Is it a case of thesis busted? Or is this a cyclical downturn that will blow over with a chance to double down on the stock at a bargain price? Unilever is a stock we’ve talked about a few times this year, mostly in the context of how Steve W screwed this one up. And the latest reports indicate things are still going well. The company is reporting revenue growth in geographies others are struggling with. But with the stock up 7% on the latest report, surely it’s too late to buy now..? Luxury conglomerate LVMH is a company that both Steves have been admirers of for some time. But the stock is down 8% since the start of the year. A diversified operation run by one of the best operators in the business is a proposition to take seriously. But what happens after Bernard Arnault? Only on this week’s PlayingFTSE Podcast! ► What We Consumed This Week: ► Support the show: Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse (All proceeds reinvested into the show and not to coffee!) There are many ways to help support the show, liking, commenting and sharing our episodes with friends! You can also check out our clothing merch store: https://playingftse.teemill.com/ We get a small cut of anything you buy which will be reinvested back into the show....COMPOUNDING! (you read that in Svens voice right? Did Briscoe mention he got Sven on the show!?) ► Timestamps: 0:00 Intro & Our Weeks 5:57 Google 22:04 Ryanair 35:50 Kering 49:12 Unilever 1:03:17 LVMH  ► 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 ► Wanna get in contact? Got a question for us? Drop it in the comments below or reach out to us on Twitter: https://twitter.com/playingftseshow Or on Instagram: https://www.instagram.com/playing_ftse/ ► Enquiries: Please email - playingftsepodcast@gmail(dot)com