Quick takes from around the market
The PSE [PSE 175.00 0.57%] [link] disclosed that it still has over P1.6 billion left from the P2.8 billion it raised four years ago. That’s quite a chunk of cash! I wonder if any of that money could be used to build a more robust payment infrastructure for PSE EASy? We’re over halfway through a year that the PSE was hoping would be thick with equity raise events, and we are still stuck wondering with each IPO whether our broker will sign up for electronic payments or not. Don’t get me started about refunds. Spend that money, PSE! Four years and you haven’t even spent half of it!
MEDCO Holdings [MED 0.28] [link] put out the first quarterly earnings report of the “standard schedule” (quarters ending March/June/September/December) Q2 season. Not much to say about this report; MED’s Q2 income was up 29%, but it still posted a P1.4 million net loss. Meh.
Converge [CNVRG 20.25] [link] rated “Top-Rated Fixed Network in the Philippines” for H1/22 by Ookla, the Internet speedtest company. The award was based on a consumer satisfaction poll. The stock is down 35% in just 3 months, so I bet a “shareholder satisfaction survey” would have a slightly different outcome.
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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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