Megawide Construction Corp #MWIDE

Latest News

Megawide profits down 25.7% (22 Aug 2014)

Megawide Construction Corp. (MWIDE) has reported a 25.7% decline in net profit to PHP 55.1 million in the first 6 months of 2014. The lower earnings were brought about by higher operating expenses due mainly to the increase in salaries, wages, and software licenses.

Gross revenues jumped 21.1% to PHP 5.1 billion in the first half of 2014 from PHP 4.2 billion booked in the same period last year, mainly attributed by the following projects: Rockwell Business Center, Shangri-La Salcedo, BPO Araneta, and Grass 4 of SM Development Corp.

The cost of construction is at PHP 4.2 billion in 2014, up 21.9% from PHP 3.4 billion in 2013. (source: PinoyInvestor) 

Marcventures Holdings Inc #MARC

Latest News (source: PinoyInvestor.com)

Marcventures reports 71.2% drop in income (22 Aug 2014)

Marcventures Holdings, Inc. (MARC) reported a 71.2% drop in net income to PHP 95.2 million in 2Q 2014 due to the suspension of its mining operations in Surigao del Sur.

The company sold 376,396 wet metric tons (WMT) of nickel ore in 2Q 2014, 52.2% lower than the same period last year.

In the first 6 months of the year, MARC posted a net profit of PHP 145.7 million, only half of the PHP 304.23 million posted in the same period last year. But now that the suspension order had been lifted, the company expects to end the year with 50 shipments of nickel ore. This will allow the company to meet its goal net profit of PHP 1 billion for the year. (source: PinoyInvestor) 

Puregold Price Club Inc #PGOLD

Puregold Price Club Inc (PGOLD)

NOTES:

• Major trend: Bullish
• Sellers > Buyers
• Resistance: P43
• Support: P38
• Highest target price: P59

RATING:

• COL Financial - Hold
• Financial Times - Buy
• Reuters - Buy
• Wall Street Journal - Buy

Latest News:

• Absence of interest income weighs on Puregold's Jan.-June income

JG Summit Holdings Inc #JGS

JG Summit Holdings Inc (JGS)

NOTES:

• Resistance: 54
• Support: 51 / 50
• Current price: 53.80
• Highest target price: 59.33

RATING:

• COL Financial - Hold
• Financial Times - Buy
• Reuters - Buy
• Wall Street Journal - Hold

Manila Electric Company #MER

Manila Electric Company (MER)

NOTES:

• Resistance: 277 / 270
• Support: 260 / 252
• Current price: 266
• Highest target price: 390

RATING:

• COL Financial - Hold
• Financial Times - Hold
• Reuters - Hold
• Wall Street Journal - Hold

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• Manila Electric Company : Manila Electric Raises PHP18.5 Billion via Bond Issue
• PLDT says willing to raise stake in Manila Electric

Atlas Consolidated Mining and Development Corporation (AT)

Atlas Consolidted Mining and Development Corporation (AT)

NOTES:

• Resistance: P17.02
• Support: P16.10 *would buy near this area
• Formed double bottom and hit the breakout point.
• Current price: P16.48
• Highest target price: P19.72

Rating:

• COL Financial - NA
• Reuters - Buy
• Wall Street Journal - Buy
• Financial Times - Buy

Globe Telecom Inc (GLO)

Globe Telecom Inc (GLO)

Notes:

• Major resistance: P1833
• Major support: P1587
• Current price: P1811
• Highest target price: P1798

Rating:

• COL Financial - Hold
• Reuters - Hold
• Wall Street Journal - Hold
• Financial Times - Hold

Latest News:

• Cash dividend: P18.75/share
• Record date: Aug 19, 2014
• Payment date: Sep 4, 2014

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• Philippine Globe Telecom Q2 net profit down 35 pct
• Globe Telecom boosts dividend payment (Philippines)