Share to Twitter Share to Linkedin Tencent Holdings is back growing again, after two quarters of falling revenue, but cofounder and billionaire Pony Ma still wants the company to pursue cost-cutting measures and improve efficiencies. The 51-year-old Ma, who is currently the country’s third richest man, saw his wealth shoot up by $3.7 billion to $39.3 billion on Thursday, after the WeChat operator on Wednesday reported a slim 0.5% revenue gain to $20.8 billion for the last three months of 2022. Shares of the Hong Kong-listed firm surged 8.2% as investors are hopeful about the outlook for advertising and international games expansion as future growth drivers. Bu Ma appears to be only cautiously optimistic about growth. In the mogul’s once-in-a-year address with media discussing Tencent’s performance, he said the tech behemoth would keep following the direction of improving efficiency and cutting costs. “The goal is to get rid of the fat, and build up the … [Read more...] about After Eking Out Small Revenue Growth, Billionaire Pony Ma Says Tencent Will Keep Cost-Cutting Measures
Is Mercedes-Benz Stock Good Value At $76 Per Share?
Share to Twitter Share to Linkedin Mercedes-Benz stock (OTCMKTS: MBGAF) has had a relatively strong year so far, with its stock up by almost 10%, outperforming the S&P 500. Mercedes posted a relatively strong set of Q4 2022 results, with revenue rising by about 16% year-over-year to about Euro 41 billion ($44 billion). Overall wholesale deliveries expanded by 7% versus last year as supply chain and semiconductor supply-related issues continued to ease. Net profits from continuing operations also rose 66% to about Euro 3.72 per share ($4.01), driven by higher volumes and an expanding mix of top-end vehicles, which saw unit sales rise 14%. However, despite the relatively strong numbers over the last quarter, we remain neutral on Mercedes stock, with a price estimate of about $78 per share, which is roughly in line with the current market price. Now, although Mercedes stock trades at a relatively reasonable valuation of under 7x projected 2023 earnings, … [Read more...] about Is Mercedes-Benz Stock Good Value At $76 Per Share?
U.S. Bancorp Stock Is Undervalued
Share to Twitter Share to Linkedin U.S. Bancorp’s stock (NYSE: USB) has lost approximately 14% YTD as compared to the 4% rise in the S&P500 index over the same period. Further, the recent volatility in the stock price (down 20% over the last ten days) was due to the turmoil in the banking sector. Notably, the collapse of the Silicon Valley Bank, Signature Bank, and the Credit Suisse crisis has made investors cautious about banking stocks. Overall, USB is trading at the current price of $38 per share, which is 32% below its fair value of $55 – Trefis’ estimate for U.S. Bancorp’s valuation . The bank posted mixed results in the fourth quarter of 2022, with earnings beating the estimates but revenues missing the mark. It reported total revenues of $6.4 billion – up 12% y-o-y, primarily driven by a 37% jump in the net interest income, partially offset by a 19% decline in the non-interest revenues. While the NII benefited from the improvement in … [Read more...] about U.S. Bancorp Stock Is Undervalued
What To Expect From Walgreens’ Q2?
Share to Twitter Share to Linkedin Walgreens Boots Alliance (NASDAQ: WBA) is scheduled to report its fiscal Q2 2023 results on Tuesday, March 28. We expect the company to post revenue and earnings slightly below the street expectations, partly due to fewer Covid-19 vaccine administrations vs. the prior year quarter. That said, the company expects strong growth for its international business in Q2. Although we expect the company to post a downbeat Q2, we believe its stock has more room for growth, as discussed below. Our interactive dashboard analysis on Walgreens Earnings Preview has additional details (1) Revenues expected to be below the consensus estimates Trefis estimates Walgreens’ Q2 2023 revenues to be around $33.2 billion, slightly below the $33.4 billion consensus estimate. This compares with the $33.8 billion revenue the company garnered in the prior-year quarter. The company should benefit from growth in the international … [Read more...] about What To Expect From Walgreens’ Q2?
Should You Buy FedEx Stock After Q3 Earnings Beat?
Share to Twitter Share to Linkedin FedEx stock (NYSE: FDX) is up 13% in a week, compared to a 3% rise for the broader S&P500 index. After its recent surge, FDX stock looks appropriately priced, in our view. Due to a decline in delivery volumes, FedEx FDX and other logistics companies have had a tough year. The big e-commerce surge seen through the lockdown phase of the Covid-19 pandemic has now cooled off. Furthermore, the weakening U.S. economy and high inflation further add to the woes. Our analysis of FedEx’s Revenue details how the company’s revenues are trending. Last week, the company reported its Q3 fiscal 2023 results (the fiscal year ends in May), with revenue of $22.2 billion, down 6% y-o-y, and falling below our estimate of $22.8 billion, primarily due to softening volume. Average daily package volume was down 11% during the quarter. However, yields continued to improve, with composite package yield rising by 3%. The company’s … [Read more...] about Should You Buy FedEx Stock After Q3 Earnings Beat?
PLDT 2022 net income down 60%
MANILA –PLDT Inc. saw its net income plunge by 60 percent to P10.49 billion last year after incurring a P48-billion budget overrun, which the telecom giant attributed to “over orders” of 5G technology. Total revenues, meanwhile, were up 6 percent to P205.25 billion for the period. Service revenues climbed by 4 percent to all-time high P190.1 billion last year. “We are looking to increase our revenues by mid-single digit and capital expenditure will recalibrate to between P80 billion and 85 billion,” PLDT president and CEO Al Panlilio said. Capital expenditure amounted to P96.8 billion last year. “Despite the adversities, I remain convinced that PLDT will not only survive but thrive; our core business is strong and our people endured, inspired by our singular mission of safeguarding and enhancing shareholder value,” PLDT chair Manuel V. Pangilinan added. In the meantime, the telco maintains that no fraud or bad faith was involved in its P48-billion budget overrun that dragged … [Read more...] about PLDT 2022 net income down 60%
Ex-NEA exec warns vs ‘profit motive’ of Aboitiz firm in taking over Davao electric coop franchise
INQUIRER.net FILE PHOTO TAGUM CITY — A former top executive of the National Electrification Administration (NEA) has urged member-consumers of the Northern Davao Electric Cooperative (Nordeco) to continue raising their voice against the planned entry of the Aboitiz-owned Davao Light and Power Company (DLPC) into its franchise area or else they would fall into the supposed ‘profit motive’ of the firm. Edgrado Masongsong, secretary general of the National Center of Electric Consumers Cooperative (NCECCO), warned Nordeco member consumers that if they allow DLPC to take over several areas of its franchise, the members would turn into “mere rental payers” of the power distribution company. Unlike private power companies, which are allowed to raise power rates in the era of deregulation, power coops still continue to consult with their members and even report to them the cooperative’s financial status every end of the year. Masongsong, a former NEA administrator, cited their … [Read more...] about Ex-NEA exec warns vs ‘profit motive’ of Aboitiz firm in taking over Davao electric coop franchise
Celebrity-Backed Bail Funds Freed People Who Allegedly Went On To Kill: REPORT
Bail assistance groups including the Northwest Community Bail Fund, Minnesota Freedom Fund and Bail Project recorded massive funding increases after George Floyd’s death, according to CNN. Multiple individuals bailed from prison with the organizations’ help were subsequently arrested for murder, the outlet reported. “The charitable bail funds, just by the nature of the enterprise, are going to be helping the riskier people,” Columbia University Associate Law Professor Kellen Funk told CNN. Nonprofit organizations dedicated to bailing criminal defendants out of jail received huge funding increases in 2020 following the death of George Floyd, but some of those they helped release allegedly committed murder afterward, according to CNN. Several bail groups got social media endorsements from famous figures like Vice President Kamala Harris, recording artist Justin Timberlake and actor Seth Rogen after Floyd was murdered by a Minneapolis police officer in May 2020 and protests … [Read more...] about Celebrity-Backed Bail Funds Freed People Who Allegedly Went On To Kill: REPORT
How An Entrepreneur Learned The Art Of The Pitch And Sold Her Startup For $275M
Share to Twitter Share to Linkedin Surbhi Sarna didn’t intend to become an entrepreneur when she faced a potential cancer diagnosis. As a high school student, she just hoped to survive. But Sarna’s cancer scare did change her life—and perhaps the lives of millions of others. After Sarna finished college, she started nVision Medical. She created a device she hoped would one day catch ovarian cancer in its early stages. She later sold the company to Boston Scientific for $275 million. That’s the short story. But, in the longer version, Sarna’s pitch was rejected by 50 investors. They were skeptical because Sarna didn’t have an MBA or a medical school degree. In other words, she didn’t check off all the right boxes. “I’ve been underrated and doubted my entire life,” Sarna told me during an interview about her new book, Without a Doubt . Sarna’s transformation from underrated to unbeatable offers valuable lessons for anyone with an idea to share or a … [Read more...] about How An Entrepreneur Learned The Art Of The Pitch And Sold Her Startup For $275M
Strategies For Growth In 2023
Share to Twitter Share to Linkedin By Duane Tursi, CEO, Ascension Group International . How can business leaders determine whether a particular growth strategy is applicable to a business’s specific situation? First and foremost, timing is everything. It might feel like it’s always the right moment to take your company to the next level, but knowing when to expand is just as critical as knowing where to start. During times of financial uncertainty, many companies focus on their core competencies and forget that there are still opportunities for development. The quality of businesses today is strong, and organizations of all sizes have healthy balance sheets despite a looming recession. To continue this upward trend, let’s take a look at some key strategies for growth in 2023. Never Waste A Recession You might look at that header and scratch your head, but here’s the thing: Recessions are not all negative. Companies make layoffs, and … [Read more...] about Strategies For Growth In 2023