Quick takes from around the market
Boulevard Holdings [BHI 0.08 4.65%] [link] put out a weirdly-aggressive press release to “those shareholders” who were wondering why BHI’s “Friday’s Boracay” is still closed down while the island itself reopens to tourists. BHI said that it didn’t plan to open its Friday’s resort if it would only receive “run-of-the-mill” returns, and said since the high-paying foreign tourists aren’t expected to return until Q3, BHI has decided to use this time to tear down all 50 rooms “to the foundation poles” and remake the property into a “high-end boutique hotel” to compete in Boracay’s “super premium” market. I love the candid nature of the response. Daddy Panlilio is basically in the driver’s seat, yelling at the kids (shareholders) to stop their whining because they’re really close to their destination and it’s going to be worth the wait. Shut up, you punk kids! We're going super premium!
AC Energy [ACEN 7.90 2.95%] [link] disclosed that the 1,410,745,833 shares it sold by private placement earlier in the year will be listed on Friday, July 1st. These shares are already considered “outstanding”, so their existence is already baked into the share price. Still, the shares belong to 13 different private shareholders and companies, and we need to watch the daily volumes of ACEN to see if any of these minority holders will look to cash-out of their positions.
Figaro [FCG 0.59 4.84%] [link] will have a special “upscale” blend of its coffee served to Cebu Pacific [CEB 42.30 2.87%] passengers. This is something of a re-imagining of the partnership that once existed between the two companies before. The goal here, for FCG, is to have airline passengers associate its coffee with the heightened feelings and emotions of travel, to associate FCG products with something so middle-class as flying on CEB. Just like the Carmen’s Best tie-up with Philippine Airlines [PAL 5.45 0.93%], but we all know how that relationship went: PAL went bankrupt, and Carmen’s Best married MVP for a bag of gold.
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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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