Quick takes from around the market
Metro Manila [link] to spend the first half of March under Alert Level 1. This opens up movement to people of all ages and co-morbidities, which maximizes the potential market of customers for businesses in the region.
BDO [BDO 130.10 3.49%] [link] reports P43 billion in net income for FY21, a slight “beat” of consensus estimates for the bank, and nearly matching BDO’s pre-COVID level of profitability.
Chinabank [CHIB 25.00] [link] reports P15 billion in net income for FY21; this is a much larger “beat”, as the market was expecting something in the range of ?14 billion. Banks are healthy.
PSE [PSE 220.00] March IPOs might get pushed back, as a source has told me that the PSE has asked banks to rework their boilerplate prospectus language and underwriting agreements and that there are “big debates” going on that may cause those dates to slip. Is the DITO [DITO 6.14 6.97%] SRO fiasco causing a re-think of the rules? At least something positive might come from that embarrassing situation.
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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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