Thursday, August 6

Tag: Stock Market

STAAR Surgical Company (STAA) CEO Caren Mason on Q2 2020 Results – Earnings Call Transcript
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STAAR Surgical Company (STAA) CEO Caren Mason on Q2 2020 Results – Earnings Call Transcript

STAAR Surgical Company (NASDAQ:STAA) Q2 2020 Earnings Conference Call August 5, 2020 4:30 PM ET Company Participants Brian Moore - VP, Investor, Media Relations & Corporate Development Caren Mason - President and Chief Executive Officer Patrick Williams - Chief Financial Officer Conference Call Participants Christopher Cooley - Stephens Inc. Anthony Petrone - Jefferies LLC Ryan Zimmerman - BTIG Andrew Brackmann - William Blair & Company Bruce Jackson - The Benchmark Company Cecilia Furlong - Canaccord Genuity Operator Good afternoon. Ladies and gentlemen, and welcome to the STAAR Surgical Second Quarter 2020 Financial Results Conference Call and Webcast. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a questi...
Jaiprakash Associates Q1 results: Posts net loss of Rs 333 crore
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Jaiprakash Associates Q1 results: Posts net loss of Rs 333 crore

NEW DELHI: Diversified group Jaiprakash Associates Ltd on Wednesday reported a consolidated net loss of Rs 332.68 crore for the quarter ended June, on lower income amid the COVID-19 pandemic.Its net loss had stood at Rs 574.62 crore in the year-ago quarter. Total income declined to Rs 1,140.99 crore for the first quarter of the current financial year, from Rs 1,778.91 crore a year ago. Jaiprakash Associates is into cement, construction, power, hotels, healthcare, sports event and fertiliser businesses. Source: ET Markets
Thomas Cook India Q1 results: Firm reports net loss of Rs 108.62 crore
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Thomas Cook India Q1 results: Firm reports net loss of Rs 108.62 crore

Travel services firm Thomas Cook India reported a consolidated net loss of Rs 108.62 crore for the quarter ended June 30, 2020, on account of the impact of COVID-19 pandemic. The company had posted a net profit of Rs 14.04 crore in the corresponding period of the previous fiscal, Thomas Cook India Ltd (TCIL) said in a late night filing to the BSE on Tuesday.Total income from operations stood at Rs 130.87 crore. It was at Rs 2,335.03 crore in the same period a year ago, it added. "Despite the stark backdrop of the COVID-19 pandemic that impacted our core businesses significantly during this period, the teams across the Group demonstrated leadership and resilience," TCIL Chairman and MD Madhavan Menon said. "Our proactive and sustainable restructuring program, combined with reimagining o...
Be Careful With The American Dollar
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Be Careful With The American Dollar

I don't often write macro-oriented articles - the fact is, others do it with significantly more background knowledge. However, one area where I believe I excel is the articles aimed at either investors seeking investments in different countries, as well as different currencies, seeing as I'm one such investor, have been one for years, and have done an untold number of hours of research and weighing on the subject. With that in mind, I wanted to take today and talk a bit about how we (both international and domestic investors) could consider the role and future of the American dollar. (Source: Shutterstock) The dollar in a non-US portfolio The reason this subject hits close to home is the dive the USD has taken in terms of value when paired to my own "home" currency, the Swedish krona...
Oil PSUs spend 13% of annual capex target in Q1FY21
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Oil PSUs spend 13% of annual capex target in Q1FY21

New Delhi: State-run oil companies have spent 13% of their annual capex target of Rs 98,500 crore in the first quarter of the financial year with Oil India spending at the fastest clip and GAIL the slowest.The government is banking on accelerated spending by public sector companies to revitalize the economy damaged by the pandemic and lockdowns. Finance minister Nirmala Sitharaman has been regularly engaging with chiefs of state-run companies to prod them to speed up spending. Resource-rich oil and gas companies, usually the biggest spenders among state firms, have spent Rs 12,900 crore in April-June. This is only 13% of the annual target mainly because of the lockdown and inability to get workers back on to sites after restrictions were eased, an industry executive said. More lockdowns i...
Sebi bans 4 entities for providing unauthorised investment advisory services
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Sebi bans 4 entities for providing unauthorised investment advisory services

New Delhi: Sebi has barred Money Increase, Venture Revenue and two individuals from the capital markets for providing unauthorised investment tips and falsely promising assured returns to investors. Besides, they have been prohibited from carrying out investment advisory services.Those facing ban are -- Money Increase, Venture Revenue, their proprietor Ashish Chourasiya and Shinal Jain, who is connected to Chourasiya. Sebi found that Chourasiya through its proprietorship of Money Increase and Venture Revenue was providing trading tips and stock specific recommendations to investors and the general public on payment of services. Besides, Jain has, prima facie, aided and abetted Chourasiya in collection of payments or fee for the services, it noted. It, further, said they are providing ...
Why I Trimmed My Position In Main Street Capital
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Why I Trimmed My Position In Main Street Capital

As mentioned in previous articles, I'm expecting many Business Development Companies ("BDCs") to report net asset value "NAV" increases, adequate dividend coverage, and reaffirming current dividends. However, I'm also expecting some BDCs to cut dividends in August 2020. This article discusses Main Street Capital (MAIN) which recently released preliminary Q2 2020 results. Please see the end of this article for details. Clearly, the potential for additional or renewed lockdowns related to COVID-19 is a concern driving markets lower, including BDCs that peaked on June 8 (including MAIN at $35.82) are now yielding over 13% (see list below). Source: Yahoo Finance It's important to note that yields below take into account special/supplemental dividends for 2020. For Q1 2020, MAIN re...
Buy, sell, repeat! No room for ‘hold’ in whipsawing markets
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Buy, sell, repeat! No room for ‘hold’ in whipsawing markets

LONDON: Warren Buffett's favourite holding period -- forever -- has few fans these days, with the average length of time shares spend in a portfolio hitting record lows this year as investors surf wild market swings for quick gains.The length of time that investors hold shares has been shrinking for decades but the trend accelerated this year in volatile markets that have made people nervous about sitting on investments for too long. There are different ways of slicing it, but Reuters calculations based on New York stock exchange data show the average holding period for US shares was 5-1/2 months in June, versus 8-1/2 months at end-2019. The previous record low of six months was hit just after the 2008 crisis. In 1999, for example, 14 months was the average. Europe displays a similar ...
Why Gold Failed Japan (And What That Means For America)
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Why Gold Failed Japan (And What That Means For America)

I recently wrote about what drives gold prices. In short, gold prices rise when real interest rates are falling, low or negative. While gold is often viewed as a safe haven and a hedge against inflation, it doesn't exist in a vacuum. Gold competes in many ways with US Treasuries as a safe haven. If investors can receive a positive real return on US Treasuries they are less likely to use gold - which provides zero yield - as a safe haven. The higher the real yield, the worse non-yielding assets look in comparison. In contrast, when real yields on US Treasury bonds are negative, investors actually lose by holding them. A zero-yield actually becomes more attractive at that point. Source: DumbWealth.com As it happens, falling, low or negative real yields tend to occur during periods in w...
Earnings, Microsoft boost Dow Jones as investors await stimulus
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Earnings, Microsoft boost Dow Jones as investors await stimulus

Wall Street's main indexes opened higher on Monday as Microsoft's pursuit of TikTok's U.S. operations and a clutch of upbeat quarterly earnings reports lifted sentiment in the absence of a fiscal coronavirus relief deal.The Dow Jones Industrial Average rose 114.00 points, or 0.43%, at the open to 26,542.32. The S&P 500 opened higher by 17.14 points, or 0.52%, at 3,288.26. The Nasdaq Composite gained 103.36 points, or 0.96%, to 10,848.64 at the opening bell. Source: ET Markets