This Is Not About Sexy Secretary Role-Play

What my therapist called a manipulative bid for control, I called ‘efficiency activism.’

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By Sophia Ortega

JPMorgan Emerging Mkts Invest Trust FY Pretax Profit Rises On Revenue Basis

JPMorgan Emerging Mkts Invest Trust (JMG.L) said, on a revenue basis, its fiscal year profit before tax increased to 18.32 million pounds from 14.40 million pounds, prior year. Earnings per share was 1.36 pence compared to 1.02 pence.

On a total basis, loss before tax was 284.17 million pounds compared to profit of 423.98 million pounds, prior year. Loss per share was 24.77 pence compared to profit of 35.40 pence.

On a revenue basis, gross return increased to 23.20 million pounds from 19.62 million pounds, last year.

A final dividend of 0.83 pence per ordinary share has been proposed in respect of the year ended 30th June 2022.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

European Shares Extend Losses As Recession Worries Mount

European stocks fell on Friday to extend losses from the previous session amid concerns about a possible global recession.

S&P Global’s Eurozone manufacturing purchasing managers’ index fell to 48.5 in September from 49.6 a month earlier, according to preliminary estimates released earlier in the day.

Also, the downturn in British businesses deepened this month because of soaring costs and faltering demand.

The S&P Global/CIPS flash Composite Purchasing Managers’ Index (PMI) fell to 48.4 from 49.6 in August.

The pan European Stoxx 600 was down 1 percent at 395.90 after falling 1.8 percent in the previous session.

The German DAX dropped 0.8 percent, France’s CAC 40 index slipped 0.7 percent and the U.K.’s FTSE 100 was down 1.6 percent.

U.K. government bonds fell sharply as chancellor Kwasi Kwarteng’s mini-Budget slashed taxes.

Banks declined, with Credit Suisse plunging 6 percent to hit a record low on reports that the Swiss bank Suisse is sounding out investors for fresh cash.

French ophthalmic company EssilorLuxottica was marginally higher after launching its share buyback program.

Smiths Group surged 4.8 percent. The engineering business firm posted a decline in pre-tax earnings for the fiscal 2022, though revenue improved from last year.

UK Commercial Property REIT H1 EPRA Profit Rises

UK Commercial Property REIT Ltd. (UKCM.L) reported that its first half EPRA earnings per share increased to 1.58 pence from 1.16 pence, previous year. Net profit for the period increased to 162.36 million pounds from 66.81 million pounds, prior year. Earnings per share was 12.49 pence compared to 5.14 pence.

First half total income increased to 177.83 million pounds from 82.40 million pounds, last year. Rental income increased to 32.33 million pounds from 28.77 million pounds.

“We have a number of options available to us to both manage and, where appropriate, seek opportunities arising from the current environment, and are confident in the future prospects for the company,” Ken McCullagh, Chair of UKCM, said.

Merchants Trust HY Profit Down

Merchants Trust Plc (MRCH.L) reported that its profit after taxation attributable to ordinary shareholders for the six months ended 31 July 2022 was 395 thousand pounds or 0.30 pence per share, down from 103.02 million pounds or 83.91 pence per share in the previous year.

But income from investments grew to 23.00 million pounds from 17.43 million pounds last year.

The company has declared a second quarterly dividend for the current financial year of 6.85 pence per ordinary share, payable on 10 November 2022 to shareholders on the register at close of business on 7 October 2022.

Pre-market Movers: NXPL, HHGC, SLS, BLU, CWBR…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 06.55 A.M. ET).

In the Green

NextPlat Corp (NXPL) is up over 29% at $3.20
HHG Capital Corporation (HHGC) is up over 28% at $13.13
SELLAS Life Sciences Group, Inc. (SLS) is up over 27% at $2.95
BELLUS Health Inc. (BLU) is up over 14% at $12.10

In the Red

CohBar, Inc. (CWBR) is down over 11% at $3.70
Cellectis S.A. (CLLS) is down over 11% at $2.38
NeuroMetrix, Inc. (NURO) is down over 10% at $2.70
Eve Holding, Inc. (EVEX) is down over 9% at $11.11
Credit Suisse Group AG (CS) is down over 8% at $4.29
Warrior Met Coal, Inc. (HCC) is down over 7% at $25.71
Harmony Gold Mining Company Limited (HMY) is down over 7% at $1.98
Standard Lithium Ltd. (SLI) is down over 6% at $4.38
Borr Drilling Limited (BORR) is down over 6% at $3.52
PaxMedica, Inc. (PXMD) is down over 5% at $2.20

Dignity Posts Loss For H1

Dignity Plc (DTY.L), a British funeral-related service provider, on Friday posted a loss for the first-half, amidst a decline in revenues and a surge in administrative expenses.

For the 26-weeks to July 1, the UK-based firm posted a pre-tax loss of 156 million pounds, compared with a restated profit of 50.5 million pounds a year ago.

Post-tax loss was at 129.3 million pounds or 258.6 pence per share, versus restated profit of 31.2 million pounds or 62.4 pence per share, registered for the first-half of 2021.

Operating loss totaled 48.3 million pounds as against a profit of 40.8 million pounds of previous year period. Dignity’s administrative expenses more than doubled at 124.7 million pounds, higher than last year’s 59.4 million pounds.

Revenues were at 166.9 million pounds, lesser than 189 million pounds of previous year’s first-half. The results for last year were restated, the company said.