Chesapeake energy stock price target

- A + A KUALA LUMPUR (Aug 15): Bursa Malaysia said on Monday (Aug 15) its Technology index's forward price-to-earnings ratio (PER) has "compressed" or fallen to 22.9 times currently from slightly above 30 times at the start of 2022 as share prices of the Technology index's constituents rebounded on bargain-hunting. Analysts at Bursa's research arm Bursa Digital Research wrote in a note that the index's current PER of 22.9 times values the 42-stock Technology gauge at around its five-year average forward PER but at the top end of its pre-Covid-19 pandemic PER valuation band. "The [Technology index] has rebounded slightly over 16% in the last three weeks, off its July low, its lowest level since October 2020. The rebound is broad-based as it saw 37 out of the 42 index's component stocks advancing off from their July lows. "Granted that sector valuations are merely a gross filter in screening for investment opportunities as they do not provide insights into the … [Read more...] about Bursa: Tech valuation ‘compressed’ as stocks rebound on bargain-hunting

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 12, 2022. REUTERS/Staff LONDON  – Global shares struggled to advance on Monday while investors digested news of an unexpected cut in Chinese interest rates as data pointed to faltering growth in the world’s second largest economy, sending oil prices nearly 2 percent lower. Weaker U.S. stock index futures also weighed on sentiment, while a steadier dollar knocked gold. The MSCI all country index was barely firmer, a month-long advance having whittled away the benchmark’s decline for the year to about 13 percent. China’s central bank cut key lending rates to revive demand as data showed the economy unexpectedly slowing in July, with factory and retail activity squeezed by Beijing’s zero-COVID policy and a property crisis. Until now, investors have been grappling with how much further central banks in the United States and Europe would hike rates when they meet next month. … [Read more...] about Stocks struggle as China rate cut sends oil tumbling

The first week of July saw the Indian share markets ending on a strong note. This was due to crude prices softening which in turn helped ease the worries of inflation. Crude oil prices fell and saw a slippage of under US$ 100 per barrel as the fear of a potential global economic recession loomed, stirring concerns for oil demand. The banking stocks were another reason for the Benchmark indices ending on a positive note. The second week of July saw the Indian share markets lose their gains due to fears that the US Federal Reserve would step forward with more aggressive rate hikes due to the soaring inflation. Prospects of more rate hikes by the Reserve Bank of India were also projected due to strong domestic inflation. The third week of July saw Indian share markets ending positively. Although the week ended positively, some volatility was seen in the markets due to weak global cues. Furthermore, investor sentiments were lifted as FIIs seemed to return to the Indian markets. This was … [Read more...] about Most Bought smallcases for July 2022

(CNN) The House of Representatives voted Friday to pass Democrats' $750 billion health care, energy and climate bill, in a significant victory for President Joe Biden and his party. The final vote was 220-207, along party lines. Four Republicans did not vote. Now that the Democratic-controlled House has approved the bill, it will next go to Biden to be signed into law. Final passage of the bill marks a milestone for Democrats and gives the party a chance to achieve long-sought policy objectives ahead of the upcoming midterm elections. It comes at a critical time as Democrats are fighting to retain control of narrow majorities in Congress. The sweeping bill -- named the Inflation Reduction Act -- would represent the largest climate investment in US history and make major changes to health policy by giving Medicare the power for the first time to negotiate the prices of certain prescription drugs and extending expiring health care subsidies for … [Read more...] about House passes Democrats’ health care and climate bill, clearing measure for Biden’s signature

New York (CNN Business) The American economy didn't get the memo that it's supposed to already be in a recession. The brutal GDP report released on July 28, showing the economy had contracted for a second quarter in a row, led some to insist the much-feared recession had already arrived. The good, the bad and the unknown of the inflation news And in some ways that makes sense: Since 1948, every period of back-to-back quarters of negative growth coincided with a recession. But the recession-is-already-here argument has been severely undermined since that GDP report came out. A series of events in the past 10 days suggest those recession calls are, at a minimum, premature. Yes, the economy is cooling off after last year's gangbusters growth. But no, it does not appear to be suffering the kind of downfall that would qualify as a recession. Read More Consider the following developments: The economy added more than … [Read more...] about American recession fears collide with reality

- A + A KUALA LUMPUR (Aug 15): Analysts have raised their earnings forecasts for Heineken Malaysia Bhd, after the brewing company's latest results for the first half ended June 30, 2022 (1HFY22) came in above their expectations. Hong Leong Investment Bank (HLIB) Research said in a note on Monday (Aug 15) that Heineken's 1HFY22 core net profit of RM199.5 million was above the research house's and the market consensus’ forecasts of 58% and 63% respectively. Heineken Malaysia’s net profit doubled to RM199.5 million in 1HFY22, compared with RM98.81 million in 1HFY21, mainly driven by robust sales performance during the festive period and steady recovery for the on-trade business. Post results, HLIB revised Heineken's earnings forecasts upward by 2% to 7% for FY22-FY24, on the assumption of higher sales volume and stronger recovery in beer demand. HLIB is estimated to register earnings of RM369.3 million, RM372.8 million and RM377.4 million for FY22-FY24 respectively. … [Read more...] about Heineken Malaysia’s earnings forecasts raised on beer demand recovery

Share to Twitter Share to Linkedin Topline Consumer sentiment improved this month after an all-time low reached in June, though consumers are still 21.6% less satisfied with the economy than this time last year, according to preliminary data released Friday morning from the University of Michigan’s monthly survey of consumer sentiment. Key Facts The Friday data showed that the Index of Consumer Sentiment stood at 55.1 this month, up 7% from 51.5 in July, but down from 70.3 in August 2021. The Index of Consumer Sentiment is calculated by adding up a number of questions, such as “Would you say that you are better off or worse off financially than you were a year ago,” and aggregating the results into a number between 0 and 100. All components of the Index of Consumer Expectations improved this month, especially among low and middle income consumers who feel the strongest effects of inflation, which has slowed slightly over the past month, … [Read more...] about American Consumers Feeling More Confident, Data Shows

It’s halfway through the April-June quarter earnings season and Nifty50 stocks have seen more downgrades than upgrades, according to a Jefferies report, and the downhill pack is led by those with global linkages. IT and metals led the earnings estimate downgrades, while banks and consumer companies saw earnings estimate upgrades. "FY23 Nifty earnings estimates have moved down by 1.4 percent halfway through the results season. Globally driven, 9 (of 50) stocks accounted for 60 percent of the cuts. Domestic companies' estimates were more resilient at minus-0.7 percent. IT margins, cement saw earnings cuts,” said the report. Close The Nifty consensus earnings for FY23/24 have seen earnings downgrade of 3.3 percent/1.4 percent since late March 2022 peak. That said, the margin outlook has improved across the board. “Declining metal prices and flattish energy prices recently drove improved margin outlook for 2Q/2H. Companies across sectors like … [Read more...] about Half-way into earnings season, more downgrades than upgrades, finds Jefferies

- A + A LONDON (Aug 15): The safe-haven US dollar rose on Monday (Aug 15), after a new batch of disappointing data from China bolstered global recession worries, while the yuan weakened following a People's Bank of China (PBOC) surprise rate cut. Chinese industrial output, retail sales, and fixed-asset investment all fell short of analyst estimates on Monday, as a nascent recovery from draconian Covid-19 lockdowns faltered. "Of course, bad data from China also weighed on recession worries for the rest of the world," said Ipek Ozkardeskaya, a market strategist at Swissquote. That pushed down the euro against the greenback, she added. The dollar was also supported by US Federal Reserve policymakers' hawkish comments in response to early signs that US inflation may have peaked. Richmond Fed president Thomas Barkin told CNBC last Friday that he would like to see inflation running at the Fed's 2% target for "some time" before stopping rate hikes. "The euro is slowly … [Read more...] about Dollar gains on safety flows after China data, yuan eases on rate cut

BIDEN SHOULDERS THE BLAME… ‘When Will This End?’: Sen. Manchin Goes After Biden Admin Over Inflation Democratic West Virginia Sen. Joe Manchin blamed the Biden administration for record-high inflation Tuesday as the president and his staff continue to claim that it is Russian President Vladimir Putin’s fault. “Inflation is a tax and today’s historic inflation data tells another chilling story about how these taxes on Americans are completely out of control,” Manchin said in a statement. “When will this end? It is a disservice to the American people to act as if inflation is a new phenomenon,” the senator continued. “The Federal Reserve and the Administration failed to act fast enough, and today’s data is a snapshot in time of the consequences being felt across the country. Instead of acting boldly, our elected leaders and the Federal Reserve continue to respond with half-measures and rhetorical failures searching for where to lay the blame.” … AND THE BIRD POOP … … [Read more...] about Editor Daily Rundown: Vulnerable Dems Start To Sweat And Abbott Sends Illegals To Washington