The Chart Show: BP, Standard Chartered, Flutter (4 November 2021)

TL;DR

BP beats profit expectations, Standard Chartered faces supply chain problems, and Flutter downgrades outlook due to unfavorable sports results.

Transcript

hello and welcome to the chart show i'm victoria scholar and each week i'll be sharing my analysis on three key stories that are getting a lot of attention among investors i'll be breaking them down not just from a fundamental perspective but with technical analysis on the charts as well so this week's three charts are bp after its profits top down... Read More

Key Insights

• 🫢 BP's strong profits reflect the positive impact of higher oil and gas prices.
• ⛓️ Standard Chartered's underperformance and supply chain issues highlight challenges in the banking sector.
• 🛀 Flutter's downgrade in outlook shows the impact of unpredictable sports results and regulatory concerns.
• 😀 The U.S. market remains a bright spot for Flutter, while the UK and Ireland face declines.
• 🙈 BP's stock price has seen significant positive momentum, but recent profit taking suggests potential resistance ahead.
• 🍳 Standard Chartered's stock has struggled to rally and break through resistance levels, indicating a bearish sentiment.

Questions & Answers

Q: How did BP's profits perform compared to analyst expectations?

BP's profits of $3.3 billion exceeded analyst expectations, driven by higher oil and gas prices. The company experienced positive momentum after a multi-year downtrend.

Q: What challenges did Standard Chartered face in its recent results?

Standard Chartered reported supply chain problems and warned of an uneven economic recovery. The stock has struggled to break through resistance levels and has underperformed the FTSE 100.

Q: Why did Flutter downgrade its outlook?

Flutter downgraded its outlook due to unfavorable sports results in October. The company also temporarily exited the Netherlands because of regulatory headwinds.

Q: How has the stock price of Flutter performed since the pandemic?

Flutter's stock price has gained over 130% since March 2020 but has pulled back from its peak earlier this year. It is currently facing a downtrend and may see further declines.

Summary & Key Takeaways

• BP reported three-month profits of $3.3 billion, surpassing analyst expectations, thanks to higher oil and gas prices. The company plans to spend $1.25 billion on share buybacks and has seen a significant increase in stock price since last year.

• Standard Chartered reported earnings in line with expectations but mentioned supply chain issues and warned of an uneven economic recovery. The stock has underperformed the FTSE 100, struggling to break through resistance levels.

• Flutter, a global sports betting and gaming company, downgraded its outlook due to unfavorable sports results. The U.S. market performed well, while the UK and Ireland saw a decline in sales.