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Showing posts from April, 2019

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Netflix Slides 8% After Weak Outlook Overshadows Strong Q1 Results

Netflix  shares fell more than  8% in after-hours trading , as a  disappointing second-quarter outlook  and leadership changes outweighed otherwise solid first-quarter results. Weak Guidance Sparks Sell-Off Netflix forecast  Q2 earnings of US$0.78 per share , below analyst expectations of  US$0.84 , while revenue is projected at  US$12.57 billion , missing the  US$12.64 billion consensus . The weaker guidance raised concerns over  near-term growth momentum , triggering a sharp negative market reaction. Strong Q1 Performance Fails to Impress For the first quarter: Revenue rose 16% YoY to US$12.25 billion  (above estimates) Earnings surged 86% to US$1.23 per share However, earnings were boosted by a  US$2.8 billion one-off termination fee , reducing the quality of underlying growth. Operating margin improved to  32.3% , but still came in  below expectations (32.4%) , further dampening sentiment. Rising Costs and Strategic Sh...
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Market Daily Report: KLCI bucks Asia stock decline as HLFG, Maybank gain

KUALA LUMPUR (April 30): The FBM KLCI gained 4.89 points or 0.3% to close at 1,642.29, partially lifted by gains in banking stocks including Hong Leong Financial Group Bhd (HLFG) and Malayan Banking Bhd (Maybank). HLFG closed 18 sen up at RM19.22 while Maybank gained 11 sen to RM9.25. HLFG and Maybank ended among Bursa Malaysia top gainers. “Some of the banking stocks rebounded, such as Maybank and HLFG which are constituent stocks. Especially Maybank, which is a heavyweight,” Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said. Across Bursa Malaysia, 2.36 billion shares were traded for RM2.24 billion.    Leading gainers included Carlsberg Brewery Malaysia Bhd and KLCI stock Digi.Com Bhd. Globally, the KLCI bucked Asia shares' decline today as investors evaluated China's April manufacturing and non-manufacturing purchasing managers index (PMI) numbers. Bloomberg reported that the manufacturing PMI stood at 50.1, down from 50.5 ...
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Market Daily Report: KLCI declines as Bursa T+2 settlement cycle kicks in

KUALA LUMPUR (April 29): The FBM KLCI closed down 0.98 point or 0.06% today after retail buying across Bursa Malaysia appeared to be dampened by the two-day securities settlement cycle (T+2 settlement cycle) debut on the local bourse. The T+2 settlement cycle replaces the T+3 scheme. At 5pm, the KLCI closed at 1,637.4 after falling to its intraday low at 1,631.83. On Friday (April 26), Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said in a statement that “the launch of T+2 settlement cycle will bring Bursa Malaysia in line with regional and major exchanges around the world". The statement said Friday was the last trading day for the T+3 settlement cycle. Today, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said it was “uncharacteristic” of the KLCI to decline amid increases in most Asian markets. Pong pointed to the implementation of the T+2 scheme as a possible factor behind the KLCI's fall.  “The KLCI dipped,...
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