Posts by Stephanie Irvin
DBS beats estimates as Q3 net profit rises 17% to S$3.03 billion; sets up S$3 billion share buyback programme
DBS’ net profit for the third quarter ended March 2024 rose 17 per cent year on year to S$3.03 billion – crossing the S$3 billion mark for the first time – from S$2.59 billion the year before. Its latest quarter’s results beat the S$2.76 billion consensus forecast among four analysts polled by Bloomberg. On Thursday…
Read MoreQualcomm forecasts beats estimates, shares jump 8.5%
CHIP designer Qualcomm on Wednesday (Nov 6) forecast sales and profit in the current quarter would exceed Wall Street estimates as the company benefits a wave of launches of flagship Chinese smartphones, and its shares rose 8.5 per cent in extended trading. Qualcomm said it expects sales and adjusted profits for its fiscal first quarter,…
Read MoreFrom banks to small-caps, Trump win sparks big rally in stocks
Donald Trump’s return as US president for the second time on Wednesday (Nov 6) boosted equity markets on bets of lower corporate tax, favourable tariffs and deregulation, lifting shares of banks, locally focused small-cap companies and Trump Media. His promise to make Tesla CEO Elon Musk head of a government efficiency commission after the billionaire…
Read MoreTrump Media, Tesla shares surge as former president wins second term
SHARES of Trump Media, Tesla and domestic-focused small-cap companies surged on Wednesday (Nov 6) as Donald Trump was elected US president for the second time, fuelling expectations of higher domestic growth. Capping a remarkable comeback after four years, Trump’s victory in the swing state of Wisconsin pushed him over the threshold required to win the…
Read MoreSingapore stocks down amid likely Trump victory; STI inches up
THE Straits Times Index (STI) inched up on Wednesday (Nov 6), as regional indices posted mixed results. The STI was up 0.6 per cent or 21.38 points at 3,602.99. Across the broader market, decliners outnumbered advancers 300 to 257 after 1.6 billion shares worth S$1.5 billion changed hands. On the STI top gainer was ST…
Read MoreJapan’s Nikkei ends at 3-week high as markets await US election outcome
Japan’s Nikkei share average ended at a three-week high on Wednesday (Nov 6), led by chip and defence stocks, while market participants keenly awaited the outcome of the US presidential election. The Nikkei jumped 2.61 per cent to 39,480.67, its highest closing level since Oct 15. The index also posted its biggest daily gain since…
Read MoreBrookfield in talks with banks to refinance Shanghai towers
BROOKFIELD Asset Management is in talks with banks to refinance a loan that had backed its purchase of a Shanghai-based office tower complex five years ago, according to sources familiar with the matter. The Canadian asset manager has an offshore senior loan of around US$700 million due year-end that funded its purchase of the mixed-use…
Read MoreFLCT posts 5.7% drop in H2 DPU to S$0.0332 despite higher revenue
THE manager of Frasers Logistics & Commercial Trust (FLCT) on Wednesday (Nov 6) reported a distribution per unit (DPU) of S$0.0332 for the second half ended September, down 5.7 per cent from S$0.0352 in the corresponding period the year before. This brings DPU for the full year to S$0.068, a 3.4 per cent decline from…
Read MoreCapitaLand Investment’s 9M revenue holds steady at S$2.1 billion
CAPITALAND Investment (CLI) reported S$2.1 billion in total revenue for the year to date (YTD) ended September, representing a slight improvement from S$2.09 billion in the prior year. In a business update on Wednesday (Nov 6), the real asset manager said its total revenue continued to shift towards its fee income-related business, where contributions grew…
Read MoreAmazon CEO denies full in-office mandate is ‘backdoor layoff’
AMAZON CEO Andy Jassy said at an all-hands meeting on Tuesday (Nov 5) that the plan to require employees to be in-office five days per week is not meant to force attrition or satisfy city leaders, as many employees have suggested. The controversial plan mandating workers come to Amazon offices every day starting next year,…
Read More