Quick takes from around the market
Figaro [FCG 0.53 1.92%] [link] “bullish” that it will meet its 150-store year-end target. FCG has 120 locations now, and said that 30 additional locations are already underway in various stages of construction and permitting. The company says that it is being more aggressive now that pandemic restrictions are being rolled back. The stock is down 30% in just under 5 months. At least there’s no reason yet to doubt the company’s ability to hit that target this year. The Q2 update in Q3 will be key.
SPC Power [SPC 8.36 2.79%] [link] confirms its movement into renewable energy after the SEC approved amendments to SPC’s primary purpose to incorporate RE. SPC also said that increased competition for power supply contracts through competitive bidding processes will pull down margins, but that SPC “maintains a solid financial position and material headroom for a 2.4 billion capital outlay this year.” Capital is like water, it flows down the easiest path to making more money. You know, just like water does.
CTS Global [CTS 0.87 1.16%] [link] owner, Edward Lee, spent ?1.09 million to buy 1.25 million shares of CTS on the open market last week. Mr. Lee saved P162,630 by waiting two months to make the purchase. The amount is insignificant relative to Mr. Lee’s holdings in CTS (over 1.8 billion shares), so perhaps he’s acting as something of a private stabilization agent here for CTS’s stock price by soaking up some low asks.
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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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