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Ping An Launches $ Bond; Macro; Rating Changes; New Bond Issues; Talking Heads; Top Gainers & Losers
S&P closed flat while Nasdaq underperformed, down 0.6% as the flow towards tech ebbed. Companies with bloated valuation metrics fell over 2% while major tech companies like Apple and Netflix were down over 1%. US 10Y Treasury yields also shared the sentiment as...
Vedanta Outlook Lowered to Negative on Weak Liquidity & Refinancing Risks
Rating agency Moody’s changed Vedanta Resources Ltd (VRL) outlook to negative from ratings under review after their review for downgrade initiated in early December 2020. The corporate family rating was confirmed at B2 and its senior unsecured bonds at Caa1. Holding...
ANZ Reports 54% High Cash Profits on Aussie Housing Boom
Australia and New Zealand Banking Group (ANZ) reported their unaudited earnings with cash profit from continuing operations for the three months ending December 31 at A$1.81bn ($1.40bn), up 54% from the average of the last two quarters. Net profits were at A$1.62bn...
Baidu’s Earnings Beat on Strong Cloud, AI
Chinese tech company Baidu reported Q4 earnings with net profits at $794mn, down 18% YoY while total revenues rose 5% YoY to $4.64bn. For the full year, revenues reached $16bn and net profits stood at $3.44bn. The company’s 'AI cloud differentiating with AI solutions'...
OUE and Heeton Warn of FY2020 Annual Loss
Singapore-based real estate developers OUE and Heeton warned of reporting an annual loss for 2020 via exchange filings. OUE said that the annual loss is primarily attributable to the S$ 435.4mn ($328mn) in net fair value losses on its investment properties. About 60%...
Energy Transfer to Buy Enable Midstream In a $7.2 Billion All-Stock Deal
American energy companies Energy Transfer (ET) and Enable Midstream Partners announced on Wednesday that they have entered into a definitive merger agreement wherein ET will buy Enable in an all-stock deal valued at ~$7.2bn. As per the agreement, Enable's common...
Odebrecht Faces a 3Y Suspension For Overcharging Pemex
The Federal Administrative Court of Justice (TFJA) confirmed the three-year suspension of the Brazilian construction company Odebrecht for overcharging Pemex in operations at the refinery in Tula, Hidalgo. This comes after Odebrecht admitted to paying bribes worth...
Uber Technologies Upgraded to B on Positive EBITDA Expected This Year
Rating agency S&P has upgraded Uber Technologies to B from B- with a stable outlook as it forecasts a substantial improvement in the EBITDA and cash flows of the mobility platform as it emerges from restrictions imposed by the pandemic. The rating agency has also...
Macro; Rating Changes; New Issues; Talking Heads; Gainers & Losers
US equities began the week marginally lower after the President’s Day holiday on Monday – S&P and Nasdaq were down 0.06% and 0.3%. US 10Y Treasury yields continued to climb higher by ~5bp. Similar to the US, European equities also closed flat to marginally lower...
