Quick takes from around the market
Citicore REIT [CREIT 2.55 pre-IPO] offer period starts today, and carries through until February 8. The PSE increased the maximum value of shares that a small-time investor can purchase, from P100,000 to P999,600. Not sure what this says (if anything).
Philippine Airlines [PAL suspended] promotes Lucio Tan’s son-in-law, Stanley Cua Ng, to President, and demote previous President, Gilbert Sta. Maria, to VP. Rumors are that Mr. Sta. Maria will opt for retirement instead of settling for the lower position. Ng is a pilot, so that’s great, but it isn’t clear whether this is a savvy move to promote someone with subject-matter experience that just so happens to be related to Lucio Tan, or if it’s just another example of someone within Lucio Tan’s orbit getting elevated far beyond their business capabilities. EIther way, the flaming dumpster fire that is PAL will be a difficult first assignment.
PSE [PSE 210.00 0.38%] has canceled a return to “regular” trading hours, and has instead opted to keep the compressed schedule that ends at 1pm “until further notice”. Who needs to wait for the fat cats to get back from lunch only to watch the market limp to a close? This is the best news I’ve heard all week.
BPI [BPI 98.10 1.21%] and several banks have put out earnings teasers for their 2021 financial reports, which means that the full reports should be coming out soon along with all of the other annual reports. The actual deadline for the reports isn’t for another couple of months, but you can usually count on the banks to report in the first batch long before that deadline. It will be nice to get a chance to talk about 2021 earnings and what it could mean going forward.
--
Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
- Latest
