Day: June 26, 2019

FCC opens probe into Sinclair disclosures on failed Tribune deal By Reuters

Reuters

© Reuters. FCC opens probe into Sinclair disclosures on failed Tribune deal By David Shepardson WASHINGTON (Reuters) – The Federal Communications Commission has opened a new investigation into whether Sinclair Broadcast Group Inc engaged in misrepresentations or a lack of candor in its failed effort to win approval for a $3.9 billion bid to purchase Tribune Media Co. In a June 25 letter to Sinclair posted Wednesday on the FCC’s website, the government agency directed Sinclair to answer a series of questions and provide documents by July 9, warning that…

‘Economic hit’: Chinese meat suspension will reverberate through supply chain

Naomi Powell

China’s suspension of Canadian meat imports will ripple through domestic supply chains, locking exporters out of the world’s largest pork market during a time of unusually high demand. A combination of escalating trade restrictions and an outbreak of African swine fever has reduced pork supplies in China, the world’s largest consumer and producer of the meat. Canadian producers have moved to fill the supply gap, posting a 52 per cent increase in pork exports to China in the first four months of this year. “China is an absolutely huge consumer…

What To Expect From Netflix Earnings

TradingETFs.com
What To Expect From Netflix Earnings

Netflix Inc. (NFLX) is one of the dream stories of the great bull market, its shares rising nearly 6-fold in the past five years and gaining about 35% despite the turbulent market in 2019. All seems well in Netflix’s fantasy land of movies and entertainment. But trouble has been brewing beneath the surface as the leader in streaming entertainment faces rising competition, slowing subscriber growth, continuing cash burn and a stock that’s gone nowhere in the past year, down 12% off its record high in 2018. What Investors Are Watching…

Indiamart IPO: IndiaMART InterMESH IPO overall subscribed 36.21 times

TradingETFs.com

NEW DELHI: The Rs 475-crore IPO by IndiaMART InterMESH got subscribed 36.21 times on the last of the bidding process on Wednesday. The issue received bids for 9,74,93,895 shares against the total size of 26,92,824. The qualified institutional buyers’ quota was subscribed 30.83 times, non-institutional investors 62.12 times and retail investors 13.37 times. At the upper end of the price band, the issue demands a valuation multiple of 139.68 times at FY19 EPS of Rs 6.97. The P/B ratio would work out to be 17.51 times at FY19 book value…