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SBI Cards and Payment Services Ltd, the credit card subsidiary of State Bank of India (SBI) , India's largest lender, filed plans for an initial public offering (IPO) with the markets regulator and stock exchanges on Wednesday. The company plans to issue new shares worth 5 billion rupees and will offer up to 130.5 million shares for sale, according to the draft prospectus published by the lead managers of the deal. The prospectus does not disclose the size of the IPO which is estimated to be between 80 billion rupees ($1.1 billion) and 90 billion rupees ($1.2 billion), according to local media reports, which would make it one of the biggest ever in India....
Long term investing can be life changing when you buy and hold the truly great businesses. While not every stock......
(Bloomberg Opinion) -- Deere & Co. results show the trouble with reading the economic tea leaves.The maker of tractors and construction equipment slumped on Wednesday after announcing a depressed outlook for fiscal 2020 that caught investors off guard. Deere expects net income to be no higher than $3.1 billion next year, a decline relative to 2019 and well below the $3.46 billion analysts had been modeling. Here was investors’ response:The root of the disappointment is Deere’s expectation that global agricultural and turf equipment sales will slump 5% to 10% next year. Heading into earnings, there was optimism that Deere might even see growth in that division, should the prospect of a trade deal and the Trump administration’s plans to pump financial support into the farming industry incentivize growers to finally swap out aging equipment. Indeed, data released by the Commerce Department on Wednesday showed that capital spending excluding aircraft increased in October by the most...
American Express salutes Small Business by showcasing what stores will look like in 2035....
These companies are cheap according to Peter Lynch Continue reading......
(Bloomberg Opinion) -- Short-sellers like to say that the CEOs who complain the loudest about them often turn out to be the ones with the most to hide. To judge by what regulators did Tuesday, that appears to be the case with Parker Petit, the former CEO of MiMedx Group Inc., a company that specializes in wound grafts, which he ran from 2009 until he was forced out by the board in 2018.During his last few years at MiMedx, Petit fought back fiercely as short-sellers began alleging that the company was “channel stuffing” — that is, shipping product to distributors who didn’t need it, and then booking the nonexistent revenue.Of course, no CEO likes investors who bet that the company’s stock will go down. But Petit seemed particularly obsessed with proving the short-sellers wrong. He devoted a section of the MiMedx website to rebutting their claims. He held anti-short conference calls. He...
A big drop in one key poll comes amid growing disillusion with the sweeping health care plan....
