Thursday, 3 Dec 2020

Bankers stopped from sharing bidding data with investors

Tucker Carlson’s Conspiracy Theory Falls Apart In The Weirdest Way Possible

Fox News host Tucker Carlson told his viewers that he had some very important papers related to his conspiracy theory surrounding Hunter Biden, son of Democratic presidential candidate Joe Biden. 

But the papers were lost ― and so Carlson concocted yet another conspiracy theory to explain their disappearance.

Carlson claimed a “source” gave the Fox News show “damning” documents about Biden on Monday. Carlson’s producer shipped the documents across the country via a “brand-name company,” but they never arrived. 

Instead, the shipping company said the package had been opened and the documents were missing. 

The shipping company launched a search and called in security to interview everyone who touched the documents, Carlson said.

“They went far and beyond, but they found nothing,” he said. “Those documents had vanished.” 

He said the unnamed company’s executives are “baffled and deeply bothered by this, and so are we.” 

Carlson did not explain why they shipped the only copy of “damning” documents. 

Twitter users couldn’t help but laugh:  

Nokia's third-quarter results miss expectations

FILE PHOTO: A Nokia logo is seen at the company’s headquarters in Espoo, Finland, May 5, 2017. REUTERS/Ints Kalnins/File Photo

STOCKHOLM/HELSINKI (Reuters) – Finnish telecom network equipment maker Nokia on Thursday reported worse-than-expected third-quarter underlying profit in its first earnings report under new Chief Executive Pekka Lundmark.

Nokia said its July-September underlying earnings remained at 0.05 euros per share, unchanged from a year earlier, missing the 0.07 euros consensus in a Refinitiv poll.

Fresenius Q3 Profit Down 4%; Affirms FY20 Outlook – Quick Facts

Fresenius SE (FSNUF.PK,FSNPF.PK) reported Thursday that its net income attributable to shareholders for the third quarter declined 4 percent to 427 million euros from 444 million euros in the year-ago period. Earnings per ordinary share decreased to 0.77 euros from 0.80 euros in the prior-year quarter.

Group net income before special items decreased 4 percent to 427 million euros from 445 million euros last year, while earnings per share also declined by 4 percent to 0.77 euros from 0.80 euros a year ago.

Sales for the quarter grew 1 percent to 8.92 billion euros from 8.84 billion euros in the prior-year period, while it rose 5 percent in constant currency. Organic sales growth was 3 percent, while acquisitions/divestitures contributed net 2 percent to growth.

Looking ahead, Fresenius confirmed its sales and net income outlook for fiscal 2020, including estimated COVID-19 effects. Fresenius projects sales growth of 3 percent to 6 percent in constant currency, and net income to develop in a range of -4 percent to +1 percent.

Wacker Chemie Q3 Results Down – Quick Facts

Wacker Chemie (WKCMY.PK,WKCMF.PK) reported a lower profit for the third quarter, reflecting declined sales, impeded by lower prices and by a weaker US dollar.

Third-quarter net income was EUR 67.7 million or EUR 1.30 per share compared to EUR 86.3 million or EUR 1.67 per share last year.

Sales for the quarter decreased 6.7% to EUR 1.18 billion from EUR 1.27 billion generated in the prior year period.

For full-year 2020, Wacker expects sales, EBITDA and EBITDA margin to decline from last year amid the pandemic, with net cash flow growing markedly year over year.

AB InBev Q3 Normalized Profit Declines – Quick Facts

Anheuser-Busch InBev (AHBIF.PK,BUD) reported that its third quarter profit from continuing operations attributable to equity holders declined $1.04 billion from $2.93 billion, prior year. Earnings per share was $0.52 compared to $1.51. Normalized profit attributable to equity holders was $1.58 billion compared to $2.41 billion. Normalized earnings per share was $0.79 compared to $1.22. Underlying earnings per share declined to $0.80 from $0.94.

Third quarter revenue was $12.82 billion compared to $13.17 billion, a year ago. Organic growth was 4.0%, positively impacted by a healthy volume performance and revenue per hl growth of 2.3%. Total volumes grew by 1.9%, with own beer volumes up by 2.6% and non-beer volumes down by 2.5%.

The Board determined that it would be prudent and in the best interest of the company to forgo the interim 2020 dividend payment. The Board’s proposal with respect to a full year 2020 dividend will be announced on 25 February 2021.

Nagorno-Karabakh says its military death toll rises to 1,119

YEREVAN (Reuters) – The defence ministry of the Nagorno-Karabakh region said on Thursday 51 more casualties have taken its military death toll to 1,119 since fighting with Azeri forces erupted on Sept. 27.

Fighting has surged to its worst since the 1990s, when about 30,000 people were killed.

Bankers stopped from sharing bidding data with investors

Sebi has said investment banks should direct investors to original sources such as stock exchanges, where data is publicly available.

Markets regulator Securities and Exchange Board of India (Sebi) has directed investment bankers and other entities involved in primary market issuances to refrain from sharing bidding data directly to investors.

It is a fairly common practice for investment banks to share application/bidding data for IPOs, OFS, rights issue, and delisting offers with investors on an hourly basis.

The regulator has said investment banks should direct investors to original sources such as stock exchanges, where data is publicly available.

Sebi said the public information helps prevent information asymmetry, while information shared by investment banks could be selective and may create prejudice in the minds of some investors.

“In order to avoid any kind of misinformation or lag between sending the information by the broker or merchant banker and receipt of such information by the investor, the seller broker or merchant banker may direct the investors, clients to publically available sources,” the regulator has said in an informal guidance, which is an interpretation of the law.

Referring to regulations, Sebi said no advertisement should be released during the course of a particular issue, which indicates whether an issue is subscribed or oversubscribed or even the investor response to the issue.

Photograph: Shailesh Andrade/Reuters

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