E Terrible Thursday On Wednesday!

I have no time to watch the impeachment hearings today as we are having one of those terrible Thursdays with a host of reporting companies on a Wednesday! Moreover, crises in Hong Kong and Israel have impacted local shares into the red and may affect the Israeli coalition talks between the two Benjamins, Netanyahu and Gantz—which may be why Netanyahu ordered the rocket fire into Gaza and the West Bank. I think Trump is jealous that he cannot change the subject from impeachment with a similar move. The trouble is the US doesn't have hostile enough neighbors, unless you count Mexican drug cartels.

Results (and non-results) are being listed alphabetically.

*Canadian CAE Q2 profit and revenue beat in its FY Q2 and it rose 5.9% at the opening, but is lower now, up only 4.2%. Revenues were C$896.3 mn, up by 50 mn from the consensus forecast of C$849.9 bn (Refinitiv IBES) and up 21% y/y. It also reported eps of 28 loony cents/sh vs consensus of 25¢ and 23¢ a year ago. It has resumed its rise which was interrupted by poor results for Q1 put out in August when sales were up 14% but earnings fell 11.5% because of lower profit margins. Last month fellow-Quebequois National Bank of Canada raised its full year forecast but the rest of the Canada chorus line continued to diss CAE. Its CEO is a francophone, Marc Parentm who said it has not increased its outlook for the FY and expects capex to rise by 10-15% from FY 2018-9. Its backlog is $9.2 bn and was up nearly $1 bn in the quarter. CAE just bought half of Simcom and did a 15-yr deal with Directional Aviation Capital, both adding to its clout in business and private airplanes training using simulators.

Its healthcare training revenues remain flat and it is losing money with that diversification from simulation. It is considered to be in play by E-trade today.

*Computer Modelling (CMDXF) reported on its Q2 for FY 2019-20 in C$s. Revenues rose 11% to C$19.873 mn mainly from a doubling of its perpetual licenses from a low base, an 8% rise in annuity/maintenance licenses (its main earner), and a 10% jump in software licenses.

Operating profit hit $9.343, up 11% or by 3 percentage points from prior Q2. Earnings before interest, taxation, depreciation, and amortization rose nearly 40% y/y from $5.837 mn to $10.426 mn. However revenue Canada boosted its bite by 20% leaving operational cash flow up only by a quarter. Net income at $6.868 mn vs prior Q2 level of 5.056 mn. It declared a dividend of 10 loony cents not covered by EPS or cashflow/sh at 9 loony cents. The divvie is up 50% from prior Q2. Its Americas business sagged but it saw fast growth in the Eastern Hemisphere.

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Whimsical Wealth 4 weeks ago Member's comment

Why had Teva dropped so much?

Danny Straus 4 weeks ago Member's comment

Saying that Bibi is only fighting Gaza for political reasons is like saying Obama only took out Bin Laden for political reason.

Ayelet Wolf 4 weeks ago Member's comment

I suspect no politician takes action without factoring how it will impact his/her chances at re-election. And Netanyahu is certainly in a tough spot with the country now going to have new elections for a 3rd time, with no clear winner projected yet again.

But in this case, it's pretty obvious that with over 200 rockets being fired at it's civilians, Israel had to take some action against Gaza. But at the moment it's been a pretty tepid response. I suspect neither size wants a real escalation. A ceasefire has already been declared.

Harry Goldstein 4 weeks ago Member's comment

The country had an opportunity to take out one of the world's most dangerous terrorists, responsible for hundreds of innocent deaths, with little to no collateral damage and they took it. Good for them - the world is a safer place because of it.