BGC, TNL & SUGAR – Latest

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Oct 31 2006
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Latest financial news from Briefing : General Cable (BGC) beats by $0.16, issues Q4 guidance 41.60 -0.44 : Reports Q3 (Sep) earnings of $0.71 per share, $0.16 better than the Reuters Estimates consensus of $0.55; revenues rose 57.9% year/year to $948.4 mln vs the $959.4 mln consensus … co issues mixed guidance for Q4, sees EPS of $0.55-0.60 vs. $0.55 consensus; sees Q4 revs of $900-925 mln vs. $964.73 mln consensus … the share price was down $ 0.80 after hours …

Meanwhile, Technitrol Inc. (TNL) on Monday posted higher quarterly profit, boosted by acquisitions … it beats by $0.06, net income rose to $15.3 million, or 38 cents per share, from $4.6 million, or 11 cents per share, a year earlier … revenues rose to $257.7 million from $147.2 million … however the co announced lower guidance … the share price was down $ 0.77 after hours …

Now, you see, both beats earning as predicted but if the co does not issue upside guidance, it’ll be punished by the market … a good example is RACK (which made me money last 4Q but not within my list this quarter as i suspect it might miss the earning estimate) which announced that it missed by $0.01 but issue a upside guidance, guess what, the price gap-up $ 1.88 after hours … heck, who will know the guidance announcement other than the C-level insiders ? … and does it make sense for a co which just missed earning but able to issue upside guidance for the next quarter ? … strange huh ? well, that’s the fun of the game …

Loss-making Sugar Bun Corporation Bhd (SUGAR), which was queried by Bursa Malaysia on Oct 30 following the recent surge in the prices of its securities, is raising funds via a special issue and a renounceable rights issue of warrants …

Frankly, i’m not comfortable with co which is using this method of raising fund (you might argue, heck, this is the purpose of listing your co dude) instead of improving the bottom-line of the co’s profit & loss figures … it should manages the co to a profitable level to reward the shareholders and not the other way of asking shareholders in pumping more money …

Of course everyone heard the latest rumour being SUGAR to win a contract worth RM300million from Petronas … which SUGAR denied …

Anyway, speculators might chase this stocks higher again until the SC (securities commission) issue a “designated counter” order – as usual …

Note : do a search within the “Archive” of this website for more previous news on SUGAR …

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