Arthur Sants

London

U.S. Companies Reporter at Investors Chronicle Magazine

US Companies Reporter at @IChronicle. [email protected]

Featured in: Favicon

investorschronicle.co.uk Favicon

ft.com

mylondon.news Favicon

thelawyer.com

Articles

Auto Trader shows its pricing power

1 week ago | investorschronicle.co.uk | Arthur Sants

Its dominant market position allows it to easily increase prices to offset macroeconomic turbulencePublished on May 29, 2025Strong cash flow generationStrong used car demand reduces stockWhen a business dominates a market, it is more resilient to changes in the macroeconomic conditions. In 2024, over 75 per cent of all minutes spent on automotive marketplaces were spend on Auto Trader (AUTO). It is the go-to platform for retailers trying to sell cars and buyers trying to purchase them.
Vodafone’s Germany slump offset by Africa’s growth

2 weeks ago | investorschronicle.co.uk | Arthur Sants

New €2bn buyback launched Multi-billion-euro impairment taken on German business For a while now, Germany has been dragging down the performance of Vodafone (VOD), and now this has been officially recognised in the form of a multi-billion-euro impairment. In the year to March, Vodafone recorded impairment charges of €4.4bn (£3.7bn) for investments in Germany because of “materially higher competitive intensity in the mobile market”.
How vampire bats help explain the trade war climbdown

2 weeks ago | investorschronicle.co.uk | Arthur Sants

Vampire bats feed on blood at night. It’s not easy to find a meal, but when they do, it’s a large one. This leaves them with a surplus. On such nights, they regurgitate some of the excess blood and donate it to less fortunate peers. While parents often feed their children, bats frequently donate to others with no genetic relation. In a 1984 paper, Professor Gerald Wilkinson used vampire bats to show that “behavioural reciprocity can be evolutionarily stable”. Bats remember who helped them.
What comes next for US stocks?

2 weeks ago | investorschronicle.co.uk | Arthur Sants

Trade war relaxation and the elevation of Scott Bessent is good news for businesses, but plenty of issues remainPublished on May 20, 2025In the past six weeks, the US has started a global trade war, triggered a market sell-off and then retreated from its most extreme tariff policies. The market has crashed, some investors have panicked and the economy has shrunk. However, despite all this, the S&P 500 index is in positive territory for the year.
Auction Technology Group’s yield is enticing

3 weeks ago | investorschronicle.co.uk | Arthur Sants

Share repurchase programme launched Operating cash flow rises 39 per centJudging the macroeconomic impact on Auction Technology Group (ATG) is tricky. During the inflation surge, there were arguments that it would benefit from the rising price of second-hand goods. Similarly, during a recession there is an argument that businesses might go to ATG websites seeking cheaper second-hand equipment. Ultimately, ATG proved a bit more cyclical than investors hoped.
Sage continues to justify its expensive valuation

3 weeks ago | investorschronicle.co.uk | Arthur Sants

Extends share buyback Strong cash conversion maintainedThe promise made by many fast-growing software companies is that they will benefit from ‘operational leverage’. In theory, most software costs are upfront and there is little marginal cost to each additional customer. As the business grows, so should the operating margin. In practice, this doesn’t always work out, but it has in the case of accounting software business Sage (SGE).
Apple’s legal troubles threaten growth

3 weeks ago | investorschronicle.co.uk | Arthur Sants

The iPhone maker has been hit again over claims it gives users little choice but to make purchases within its App StorePublished on May 14, 2025While people were stuck at home during the pandemic, they spent big on new tech to keep themselves entertained. This led to a surge in sales of Apple’s (US:AAPL) iPhone and iPad, while Apple Watch sales soared as well. Since then, hardware sales have stagnated, however, and growth has shifted towards the higher-margin ‘services’ business.
IQE cuts costs as it waits for market recovery

3 weeks ago | investorschronicle.co.uk | Arthur Sants

After period loan increases cash pile Revenue flat for the year It is difficult to maintain the faith in semiconductor company IQE’s (IQE) recovery. The business manufactures compound semiconductor wafers, which are then cut up, etched and turned into chips. Its end market demand mostly comes from smartphone manufacturers. After the pandemic, volumes slumped, but there was always hope this demand would return.
The US is acting like an emerging economy

3 weeks ago | investorschronicle.co.uk | Arthur Sants

Last week, the US administration said it was preparing to rescind the previous administration’s ‘AI diffusion rule’ that aimed to control the export of US artificial intelligence technology, in particular high-performance computing chips. The old policy had multiple tiers. Top-tier countries had minimal restrictions and included close allies such as the UK, Germany and Japan. The second tier, which included most other countries, significantly capped the amount of AI chips they could import.
Bytes continues to grow despite macroeconomic challenges

3 weeks ago | investorschronicle.co.uk | Arthur Sants

The requirement for digital investment is outweighing any economic headwindsPublished on May 13, 2025The world is made up of lots of cycles of various sizes. One narrative is that de-globalisation and increasing government deficits will drag on growth. Another is that the rise of artificial intelligence (AI) and massive investment in data centres will continue to drive the digitisation of businesses.