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Three things you need to know in the financial markets this morning from investment writer, Tony Cross

Paddy Power Betfair

Paddy Power Betfair has published Q3 trading figures today and the business has put in a solid performance in terms of revenue increases, although EBITDA has taken something of a tumble. US sports betting losses and tax increases have taken a toll here, although once removed from the picture the impression is rather more upbeat. Full year earnings guidance has been revised higher, although only by a modest £5m (around 1%).

Apple

A quick look across the Atlantic at last night’s earnings from Apple. The company disappointed with low handset sales and some significant changes to the reporting structure being announced, too. Shares sold off heavily, leaving the company to lose its $1 trillion market cap crown. It’s been interesting to see that the reaction to slowing sales has been to increase handset prices in a bid to maintain revenue levels, however. With brand loyalty like that, does the decision to dump stock look rash?

Sage Group

Sage Group has this morning announced the appointment of a new CEO.  Steve Hare – who has held the role on an interim basis since August – has taken up the post on a full-time basis. With the share price having lost over 30% since the start of the year, investors will be hoping that having a new man at the helm will help resurrect the company’s fortunes.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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