E The Global Stocks To Watch

The technician who was supposed to come Sunday instead came today and reinstalled our electric wiring which was blown out last week by a heavy storm and fallen trees. Meanwhile we were all effectively locked out my Global-Investing site because of the outage, which took out our virtual private network. As a result we are posting our articles exclusively on TalkMarkets.com, in which my company has an equity stake.

Today we have a quarterly report and a trickle of news, so enough chatter.


*The reporting company was Mercado Libre, the Latino version of Chinese and American internet stocks operating in 18 Latin American countries. MELI Q2 results were mixed and while it opened up hitting $1260/sh it then fell back to the low eleven hundreds, in part because of profit taking. (MELI has been a standout gainer in the pandemic.)

Its earnings came in at $1.11 per share, which Reuters said is 6 cents before the Refinitive IBES consensus forecast but well ahead of the Zacks consensus of 10 cents. It also beat last year's Q2 earnings of 31 cents. It missed by a penny in Q1 when it lost 44 cents.. However its revenues came in at $878.4 mn versis a consensus forecast from Refinitive of $732.2 mn, and that of Zacks of $757 mn, even less--a nice beat.

Other numbers from Mercado Libre itself look very good. Its unique active users numbers rose 45.2% in Q2 to 51.5 million users. Its MPago payments system moved $11.2 bn in the quarter, up 72%. It is up 109% year to date. Zacks now rates it overweight. Zacks may also be upping its estimates for the current quarter for negative 14 cents EPS and $831 in sales and for the full year of a minus 95 eps level and revenues of $3.11 bn. Zacks has put commerce in the bottom of its industry ranking which will also probably be amended,

Beyond the huge growth MELI is adding payments across borders within its Latin American bailiwick, initially to Brazil and Mexico, its 2 biggest safe markets, as Argentina, Colombia, Peru, and Venezuela are not safe. (It is legally incorporated in Argentina, but is operated from Uruguay in dollars.)

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Danny Straus 3 months ago Member's comment

Some good picks here. I had tried to use PayPal to pay my employees in India, but PayPal wouldn't allow it due to high fraud there. Has that changed? Regardless, rather than paying PayPal's high fees, or the expensive international wire charges, it was much cheaper sending a payment through Western Union online. You may want to check it out.