Earnings

The property and retail companies of tycoon Edgar “Injap” Sia II saw higher profits in the first half, spurred by the easing of COVID-19 restrictions. MerryMart Consumer Corp. said net income from January to June jumped 96.5 percent to P32.25 million while revenues rose 55.9 percent to P2.87 billion, a stock exchange filing on Monday showed. Earnings included those of pharmacy chains Carlos SuperDrug and Cecile’s Pharmacy, both of which were recently acquired by MerryMart. Sia said the company was poised to exceed P5 billion in revenues in 2022, double the size from when it went public in 2020. “The next immediate goal for [MerryMart] is to further double that [in order] to reach our next milestone target of reaching the P12-billion revenue mark,” he added. 1,200 branches by 2023 The company earlier said it would grow its store network to 1,200 branches nationwide by 2023 while aiming to reach P120 billion in systemwide consumer sales revenue. Sia’s DoubleDragon Corp. … [Read more...] about Injap Sia’s MerryMart, DoubleDragon posted higher earnings in H1

Share to Twitter Share to Linkedin Key Takeaways Lululemon Beats On Earnings Alibaba Breaking Into 6 Separate Companies VIX Below 20 It was a slow Tuesday with stocks largely unchanged. The Nasdaq fell less than 0.5% while the S&P 500 lost just 0.2%. Despite the relative quiet this week, stocks have staged a remarkable rally since hitting recent lows in the wake of the banking crisis just a couple weeks ago. The S&P 500 is up 4% and Nasdaq Composite has gained nearly 7%. The market landscape is pretty interesting at the moment. Outside of the banking sector, stocks appear to be on solid footing. I’ve discussed in the past the S&P 500 being in a range of 3800 – 4200. We still seem to be in that range but with the end of quarter upon us and earnings season just a couple weeks away, I’m curious if we break out of that range one way or another. Within the banking sector itself, we’ve seen a lot of trading opportunities. Now, I’m … [Read more...] about Strong Earnings From Lululemon And Alibaba Splitting

Daqo New Energy Corp., a maker of silicon and polysilicon products used primarily in solar energy applications, tops the list of stocks offering the best value in the tech sector heading into April. In the growth category, 3D printing firm Nano Dimension Ltd. leads the way, while chip testing provider Aehr Test Systems is the tech stock with the most momentum. In March, the U.S. Federal Reserve raised interest rates for the ninth time in a year. The latest increase comes in the midst of a banking crisis triggered by the collapse of tech-friendly Silicon Valley Bank and Signature Bank. Since tech companies are sensitive to higher interest rates, stocks in the sector have struggled throughout the Fed's anti-inflation campaign. Tech stocks, represented by the Technology Select Sector SPDR Fund ( XLK ), lost a tenth of their value in the past year, compared with a 14% drop in the Russell 1000 Index. Despite the challenging environment, the companies listed here are leading the … [Read more...] about Top Tech Stocks for April 2023

What Is Form 1099-SA: Distributions From an HSA, Archer MSA, or Medicare Advantage MSA? Form 1099-SA: Distributions from an HSA, Archer MSA, or Medicare Advantage MSA is an Internal Revenue Service (IRS) form that reports distributions made from various health accounts. These include distributions from a health savings account (HSA) , an Archer medical savings account (MSA) , or a Medicare Advantage (MA) MSA. It also provides reporting information on the inheritance of accounts by spouses, non-spouses, and estates. Amounts shown on Form 1099-SA must be reported on the taxpayer's federal income tax form. Key Takeaways Form 1099-SA form is sent to individual taxpayers who receive distributions from health savings, medical savings, and Medicare Advantage accounts. Information from Form 1099-SA is reported on either Form 8853 or Form 8889. Unused distributions from an HSA must be reported as income. You can repay a mistaken distribution from a health savings … [Read more...] about IRS Form 1099-SA: What It Is, Who Has to File and How

MANILA, Philippines  -Consunji-led DMCI Holdings Inc. pumped up cash dividends by 50 percent after a rally in commodity prices propelled 2022 profits of the conglomerate to a record high. DMCI said in a stock exchange filing on Wednesday it will pay a total of P9.56 billion in both regular and special cash dividends to stockholders. This was equivalent to 31 percent of core earnings and above the holding company’s dividend policy of paying out 25 percent of the past year’s profits. It is paying a total cash dividend of P0.72 per share common share on April 28 to stockholders on record as of April 27 this year, the filing showed. DMCI, which owns coal and power producer Semirara Mining and Power Corp., earlier said 2022 net income surged 69 percent to over P31 billion. Contributions from units, which include water services, property development, mining and construction, pushed up revenues by 32 percent to P142.6 billion. DMCI said contributions from Semirara last year … [Read more...] about DMCI increases cash dividends by 50% after record profit

FEU coach Tina Salak. UAAP PHOTO MANILA, Philippines—Far Eastern University coach Tina Salak was honored to face her mentor Ramil De Jesus in the UAAP Season 85 women’s volleyball tournament. The Lady Tamaraws went down swinging against the Lady Spikers, 28-30, 12-25, 24-26, on Wednesday at Mall of Asia Arena. De Jesus, who just returned last Saturday after missing the first round, still ended up triumphant despite the grit shown by Salak’s young wards. Salak, the former national team setter who earned a Southeast Asian Games bronze medal under De Jesus in 2005, expressed her high respect to the 11-time UAAP champion coach. “Looking back on the experience I had with coach Ramil. For me, coach Ramil had a big influence on me,” said Salak in Filipino after the loss. “Because I coached Zobel before. So he had a huge impact on my career and my growth [as a coach]. I was under him in the last SEA Games [2005].” Salak was the coach of La Salle Zobel, which had Angel Canino, … [Read more...] about UAAP: FEU coach Tina Salak hopes she made mentor Ramil De Jesus proud

Christian Standhardinger paces Ginebra in finals-berth clinching win over San Miguel. –PBA IMAGES Defending champion Barangay Ginebra earned a return trip to the PBA Governors’ Cup after coming from behind to defeat San Miguel Beer, 87-85, for the sweep of their semifinal series on Wednesday at Smart Araneta Coliseum. Christian Standhardinger scored the go-ahead basket off a Justin Brownlee assist with 3.3 seconds left and the Gin Kings marched on to the championship round despite being down by 17 early in the third quarter. Ginebra, seeking a fifth Governors’ Cup title in the last six editions, will now have the luxury of a long rest while waiting for the other semis pairing between TNT and Meralco to conclude. The seven-game tussle for the title of the season’s third and final conference starts on April 9. Ginebra import Justin Brownlee. –PBA IMAGES Brownlee had 22 points, 14 rebounds, four assists and two steals, Scottie Thompson produced 17 points and 11 … [Read more...] about Ginebra sweeps San Miguel with come-from-behind win to book PBA Finals ticket

Share to Twitter Share to Linkedin Topline Cal-Maine Foods, the nation’s biggest egg producer, experienced a seven-fold year-over-year jump in quarterly profits in the three-month period ending February 25, according to its Tuesday afternoon earnings report , a jarring revelation into how the company cashed in on soaring egg prices. Key Facts Cal-Maine sold 291,000 cartons of a dozen eggs at an average price of $3.30 per carton last quarter, an increase of 1.3% in unit sales compared to the same period last year at more than twice the price. Thanks to soaring retail egg prices nationwide as Cal-Maine’s competitors dealt with an avian flu outbreak that caused egg shortages, Cal-Maine scored $323 million in profits last quarter, a 718% year-over-year increase and a more than 2,000% increase from the same period in 2021. In a statement accompanying the earnings release, Cal-Maine CEO Sherman Miller defended his company’s surge in profits and … [Read more...] about Country’s Largest Egg Producer Saw Profits Surge 718% Amid Shortage

Share to Twitter Share to Linkedin C how Shing Yuk, a former professional poker player who studied economics at Stanford University, has joined the billionaire ranks, but not because he drew a lucky hand. Over the past decade, Chow, 44, has steadily built Lalamove into a logistics and delivery giant from a base in Hong Kong, backed by the likes of Neil Shen’s Sequoia China and Lei Zhang’s Hillhouse Capital. On Tuesday, Chow’s company, whose formal name is Lalatech Holdings, filed for an initial public offering in Hong Kong that revealed he owns a 25% stake through a family trust. Based on Chow’s stake and proceeds of earlier share sales, Forbes estimates, his net worth to be $2.2 billion, making him a rare startup billionaire in Hong Kong. Lalatech’s last private fundraising was a $230 million Series G round in November 2021, during the startup bubble. According to a report by technology website the Information, that round valued Lalatech at a … [Read more...] about Former Pro Poker Player, Who Founded Asian Delivery Giant Lalamove With His Winnings, Becomes A Billionaire

Share to Twitter Share to Linkedin Key takeaways An internal memo revealed Disney’s three-stage plan for implementing 7,000-strong job cuts announced in February The layoffs are part of Disney’s $5.5 billion restructuring plan to cut costs and boost its ailing streaming services Some glimmers of hope for Disney stock investors as its parks show a strong performance Disney is in the doldrums. With a less-than-stellar earnings call last month and mass layoffs planned, CEO Bob Iger has a big job on his hands before a new chief executive is appointed in 2025. The embattled House of Mouse shared an internal memo this week detailing how the job cuts would pan out across the business, with the metaverse team being one of the first casualties. But the move and Disney’s planned $5.5 billion cost-savings plan might not be enough to sway Wall Street. While Disney’s short-term future looks bleak, it’s not necessarily out for the count. We’ve gone … [Read more...] about The Happiest Place On Earth? Not For 7,000 Disney Employees As They Begin First Round Of Layoffs