Market rebound

The Ayala group’s AC Energy Corp. (Acen) saw its second quarter consolidated net income jump by 25 percent to P1.8 billion as its domestic operations returned to profitability while its overseas projects revved up their output. Second-quarter results significantly improved — albeit not enough to reverse profit decline — in the first semester, with Acen’s net income falling by 19 percent to P2.2 billion. From April to June alone, Acen’s net income got a boost from fresh contributions from new power generators here and abroad, as well as the easing of transmission restrictions in the Visayas grid. Acen’s generators in the Visayas were forced to limit the output they delivered in the aftermath of Typhoon Odette in December, damaging transmission facilities. This worsened the “curtailment,” or forced reduction of supply deliveries, that had resulted in a June 2021 incident that damaged a major undersea transmission cable that links the islands of Negros and Cebu. The company said … [Read more...] about Acen’s Q2 profit up 25% as local operations rebounded

Key Takeaways Analysts estimate adjusted EPS of 95 cents vs. 80 cents in Q3 FY 2021. Disney+ subscribers are expected to rise YOY, but at the slowest pace in at least seven quarters. Revenue is expected to grow at a solid rate, but to slow compared with the past several quarters. The Walt Disney Co. ( DIS ) business has recovered strongly in recent quarters as the company has emerged from the extreme impact of the COVID-19 pandemic on its theme parks and live experiences. And while most of the company's parks have reopened, business growth is also being fueled by Disney's popular streaming platforms. Both Disney+ and Disney-owned Hulu have experienced sharp increases in subscriptions in recent quarters. But the prospect of ads being sold on the service and other business concerns for the streaming industry more broadly continue to loom. Investors will be watching to see how Disney navigates this environment when it reports earnings on Aug. 10, 2022, for Q3 FY … [Read more...] about Disney Q3 FY 2022 Earnings Report Preview: What to Look For

- A + A KUALA LUMPUR (Aug 9): Texchem Resources Bhd saw its net profit jump about 16 times to RM6.73 million in the second quarter ended June 30, 2022 (2QFY22) from RM424,000 a year earlier, thanks to recovery of restaurant division amid the country’s transition to endemicity, as well as the reopening of international borders. Earnings per share (EPS) increased to 5.70 sen from 0.35 sen the prior year, the Sushi King owner and operator told Bursa Malaysia on Tuesday (Aug 9). Besides owning and operating the Sushi King chain of restaurants, Texchem’s other main businesses include industrial, food and polymer engineering. Quarterly revenue in 2QFY22 rose 15.42% to RM301.46 million from RM261.19 million in 2QFY21, as revenue from the restaurant division rose to RM72.9 million from RM40 million. Exluding the share-based payments of RM400,000, the restaurant division achieved a profit before tax (PBT) of RM3.2 million — a turnaround from a loss before tax (LBT) of … [Read more...] about Texchem’s 2Q net profit jumps 16 times to RM6.73m, declares eight sen dividend

- A + A (Aug 9): Apple Inc is back in a familiar role as market leader after a painful first half of the year that saw hundreds of billions of dollars in market value disappear, and individual investors are a big reason for the rally. Since bottoming in mid-June, the iPhone maker’s shares have surged 27%, outpacing the S&P 500 Index and the Nasdaq 100 Index. That’s put Apple back on top as the world’s most valuable company and within sight of turning positive for the year. Apple is now down just 7.4% in 2022, compared with a drop of 20% for the Nasdaq 100. Apple shares benefited from a relief rally after its quarterly earnings were better than feared, and its ongoing buoyancy reflects Wall Street’s confidence in its ability to continue churning out big profits. Individual investors, who recently helped ignite rallies in speculative corners of the market, have flocked to the stock. “Retail investors have been strong buyers of Apple over the past couple of … [Read more...] about Apple’s chart-topping run gets a boost from retail investors