Gulf Marine Services – after previously 'announcements escalate dispute with Seafox International'...
The Italian Job Supply@ME Capital: 8 billion euro funding by buying a bank: this is just plain fantasy
If you wait for everything to line up in an investment opportunity, then often by the time it does you have missed a good chunk of at least the initial move. Actually - in my experience - it is a good thing when there is a little bit of uncertainty because then you are likely to be going into something with your eyes open. Just as nothing exists in a vacuum, nothing is flawless. Life and the markets are both risk-reward games.
I do gamble a little bit. No jokes about this being the norm for any investor! But I do have the odd wager. The late Spurs winner against the Gooners a few days back hurt at a fan level, but given it pushed the number of goals above 2.5 it led to a nice wager win. Still...2-1 to Arsenal yesterday evening! My biggest gambling sector position for a couple of years now has been GVC Holdings (GVC)...
I was more of an observer than a participant in the financial markets on Friday as I was travelling back down south of the border after a brief sojourn in Scotland. I was not surprised that Hammerson (HMSO) shares fell after it announced more asset sales at a discount which only nudges - rather than dramatically reduces - their material debt burden. And I read in the press today that all sorts of excitements potentially await in their results this week including a big dividend cut. Well quelle surprise.
As noted yesterday, I am currently enjoying a short stay at one of the Premier Inn locations of Whitbread (WTB). Thumbs up from my personal bottom-up perspective and - as per the above link - you know my positive thoughts on the stock. Now onto another company I have written positively on over the last year and that is GVC Holdings (GVC)…
It has been a busy weekend...although not exclusively for the reasons Tom briefly mused upon in his bearcast yesterday(and on which i will do a grand reveal early next week). Back to the markets and I read that another FTSE reshuffle is imminent. Regular readers will recall that this is a regular opportunity moment I muse upon.
I am not the biggest fans of the large accountancy and consultancy companies but it was quite striking that a new report from EY observed that there 'were more profit warnings from listed companies in the first nine months of 2019 than in any year since 2008'. And you guessed it - as one of the deadwood press notes - 'the report cites concerns over the economy and delays or cancellations of contracts as the two main causes for companies to miss their forecasts. Brexit was highlighted as the reason for 22% of profit warnings in the three months to September — up from 10% in the first quarter'.
Oops...they did it again. Fortunately on gambling company GVC (GVC) I am talking about a profit upgrade. Now admittedly the Q3 trading update is talking about a 'pre-IFRS16 ebitda' but it is going up in terms of the full year guidance to £670-680 million from £650m-670 million, which sits nicely with the August upgrade…
I have written about GVC Holdings (GVC) a number of times this year, after making it one of my tips of the year back in late December. I have been critical on many occasions this year, predominately because of the ludicrous share sale by the Chair and CEO just days after loving up the full year numbers and prospects. Rather appropriately the share sale was at 666p. The number of the beast, indeed! Today's interim numbers read well on an overall basis...
I wailed and gnashed my teeth over betting behemoth GVC (GVC) a month or so ago after the company's CEO and Chair dumped a bunch of shares just days after an excellent results publication...which they also loved up in print and voice at the time. Throw in the terse regulatory news statement and correctly the stock dumped afterwards and has not yet recovered. Moving aside from the satanic aspects of selling shares at 666p (and the CEO having 666,666 shares left!), today's trading update represents the start of a rebuilding phase for the company with UK market investors...
Thin old pickings in today's larger cap regulatory news disclosures but I did read a trading update from Anglo-Irish betting company Paddy Power Betfair (PPB) where it bemoaned recent retail store and Australian performance...but loved up online and the US of A. Well quelle surprise. If there is anything I know about gambling sector stocks it is that (1) most are horribly regressive and it is the relatively poor who are the sources of most of the profits and; (2) there is a big switch from retail to online as with many other areas in life…
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