Quick takes from around the market
Pryce Corp [PPC 6.00] [link] teased 31% higher revenues and 12% higher net income for 2021. This company is something of a sneaky performer that has done well to get over the COVID crash and surpass its pre-COVID levels. Don’t forget that minority stake in ACE Exenor’s [ACEX 34.60 1.76%] exploration rights, which ACEX seems primed to develop.
Ayala Corp [AC 890.00 1.37%] [link] projects that its logistics subsidiary, AC Logistics, will be expected to contribute “nearly” ?1 billion in net income by 2025. AC did not provide any clarifications on the statement that AC Logistics would remain unprofitable through the remainder of this year.
MB Logistics Index is up almost 7.5% so far this week on the DoubleDragon [DD 9.97 7.44%] and International Container Terminals [ICT 221.00 2.31%] pumps. DD’s rise is due to a recently-activated share buy-back program, while ICT’s is likely due to its continued international expansion (but I’m less certain here as ICT is not normally a stock that I follow closely).
MRC Allied [MRC 0.28 1.79%] 180-day share lock-up ended yesterday. Over 4.3 billion shares belonging to Menlo Capital (>51% of MRC’s outstanding shares) will go active today after they were locked up following the debt-to-equity conversion in August.
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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.
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