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Earnings Season In Full Swing, Which Side Is The Market On?
By: Louis Kent Lee
Articles (199) Profile

With the earnings season in full swing, it is not difficult to see market reaction, almost instantaneously if big players report good profit runs.

In fact, US stocks rose even despite the biggest gain in more than a month for the S&P 500 index on the back of optimism over corporate earnings.

Buffett’s Berkshire Hathaway’s railroad profits were raised on the back of lower fuel prices, while US factory orders rose in March by the most since July 2014, fuelling speculation a winter slowdown in the economy may have been short-lived.

In the Lion City, it has been a slew of results reported by the listed companies as well.

SMRT Corporation reported a 23 percent growth in 4Q15 profits and reflected a first quarterly profit in its bus operations segment since 3Q11.

Local major telco, M1 has entered into an investment agreement with Integrated Telecommunications Oman SAOC (TeO) to acquire 1.66m new shares for approximately $10.3m.

TeO is a niche provider of international telecommuncations services and mobile services reseller in Oman.

Meanwhile, OSIM International reported a 53 percent fall in net profit, attributable to high start-up and operational cost pressures at TWG Tea as well as increases in wages and rental.

Louis is a qualified accountant with the ACCA, and is the Research Editor at Shares Investment magazine.

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