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Highlights of the day: 28 June

April 17, 2024
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FinMeUp highlights of the day

 

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South Africa

Grindrod- Trading statement

  • EPS grew by more than 100% from a loss per share of 63.1 cents.
  • HEPS grew by more than 100% from a HEPS of 0.7 cents.

Sun International- Business update

  • The company says that its income in South Africa is nearly back to pre-Covid levels despite lower levels of international tourism.
  • Income grew by 34.4% to R4 286 million
  • Debt has decreased from R6.4 billion to R5.8 billion as a result of robust cash generation.

British American Tobacco- Dividend declaration

  • The Board has declared an interim dividend of 217.8p per ordinary share, payable in four equal quarterly instalments of 54.45p per ordinary share.
  • The dividends will be paid in May 2022, August 2022, November 2022 and February 2023.

Impala Platinum- Historic five-year wage settlement

  • Impala Platinum Limiteds Rustenburg operations and Marula Platinum Limited have signed a historic five-year wage settlement with the Association of Mineworkers and Construction Union.

 

U.S.

Berkshire Hathaway

  • Warren Buffett's Berkshire Hathaway has filed for its purchase of 794.4K shares of Occidental.

Nike Earnings

  • EPS of $0.9 beating expectations of $0.81.
  • Revenue of $12.2B beating expectations of $12.1B.
  • The board of directors have also authorized an $18B, 4-year share buyback program.

Goldman Sachs

  • Goldman Sachs plans to increase its quarterly dividend to $2.50 per share up from its previous dividend of $2.00 per share.

Morgan Stanley

  • Morgan Stanley has announced it will pay a quarterly dividend of $0.775 per share up from its previous quarterly dividend of $0.70.
  • Morgan Stanley has also authorized a $20B multiyear share buyback program.

Rivian

  • Rivian has announced its opened three fast-charging sites this week in Colorado and California, "the first deployments in its nationwide Rivian Adventure Network".

Ernst & Young

  • The SEC fined accounting giant Ernst & Young $100M.
  • "Dozens of EY audit professionals sent or received answer keys to CPA ethics exams, while hundreds cheated on continuing professional courses to renew their licenses."

PayPal

  • PayPal has unveiled its new business credit card with no annual fee and 2% cash back on all purchases.

 

Biggest winners and losers

JSE

  • South32 +6.20%
  • Shoprite -3.01%

US

  • Marriot +2.42%
  • AMD -2.58%

Crypto

  • Bitcoin +0.8%
  • Ethereum +2.8%
  • BNB +3.6%

 


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