Streetbeat News

BTGOF

BT Group

https://www.btplc.com/

CEO

Philip Jansen

Industry

Telecommunications Resellers

Open

1.75

Mkt cap

17B

Volume

750

High

1.75

P/E Ratio

17.50

52-wk high

2.01

Low

1.75

Div yield

0.06

52-wk low

1.25

Gorilla Technology Group Inc's shares are trading higher by over 13% after it announced a strategic deal with BT Group Plc to provide AI-Powered, smart port solutions. The deal combines Gorilla's video analytics expertise with BT's vast network infrastructure to cater to the logistics industry. Earlier this month, Gorilla disclosed a $270 million contract with the Government of Egypt.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 1:56 pm

Meta's Threads app has reached 100 million users in five days, making it the fastest-growing consumer application in history. Nanobiotix has entered a global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica, a unit of Johnson & Johnson, for the investigational radioenhancer NBTXR3. GSK's Arexvy vaccine for respiratory syncytial virus has been approved in the UK for older adults. BT Group's CEO Philip Jansen is stepping down within the next 12 months. Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Vedanta, impacting India's chipmaking plans. General Motors has reduced the starting price for the Cadillac Lyriq by 14% in China. SVB Financial Group is suing the U.S. Federal Deposit Insurance Corporation to recover $1.93 billion. Saudi National Bank's plan to increase its stake in UBS Group's Credit Suisse has been halted by Swiss regulator FINMA. Godrej Aerospace is planning to invest in General Electric's GE414 engine manufacturing operations. Carl Icahn has revised loan agreements and recovery strategy after a short-seller attack led to a 40% drop in Icahn Enterprises' shares. Novo Nordisk's weight-loss medications are under European investigation over suicidal risks. Alibaba's Youku is airing a series focusing on China's semiconductor leadership.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 2:30 pm

BT Group PLC's CEO, Philip Jansen, has announced his intention to step down within the next 12 months. The Board has begun the search for a new CEO, with an update expected this summer. This follows BT Group's announcement in May of plans to cut its global workforce from 130k to between 75k-90k over FY28-FY30. BTGOF shares closed higher by 2.30% at $1.555 on Friday.

Portfolio Pulse from Lekha Gupta

July 10, 2023 | 1:31 pm

The upcoming week will see a number of companies reporting their earnings, including JPMorgan, PepsiCo, Delta Air Lines, and ConAgra Foods. The Dow Jones Industrial Average has seen a rebound in the first half of the year, with 15 of the 30 stocks in the index up and 15 down. The June consumer price index (CPI) report is also set to be released, with the previous reading showing an inflation rate of 4% year-on-year.

Portfolio Pulse from Anthony Noto

July 09, 2023 | 8:04 pm

HSBC Holdings is testing an advanced data-security system run by BT Group, Amazon's AWS cloud, and Toshiba Corp. The quantum essential distribution type of cyber defense could help protect trillions of dollars of transactions from hackers. The trial involves the bank sending test data between its headquarters and a data center. In 2022, JP Morgan Chase acknowledged demonstrating the ability of the newly developed QKD network to instantly detect and defend against eavesdroppers.

Portfolio Pulse from Anusuya Lahiri

July 05, 2023 | 11:51 am

BT Group reported a 1% Y/Y decline in FY23 adjusted revenue to £20.7 billion and plans to cut 55k jobs by 2030 as part of its global transformation plan. The company expects growth in revenue and EBITDA for FY24.

Portfolio Pulse from Lekha Gupta

May 18, 2023 | 5:29 pm

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