Noble Group *Official* (SGX: CGP)

Shion

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很像是想要下跌却又犹豫,然后又回到开市前的价位...???
 

Shion

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http://www.theedgemarkets.com/sg/ar...e-1q2015-earnings-not-cause-concern-jefferies

SINGAPORE (May 6): Noble Group got off to a good start in 2015 despite turning in a 30% y-o-y decline in 1Q2015 earnings, as its performance in the first three months was driven by recurring "business flows", an outcome that paints a more accurate picture of the company's long-term earnings potential, according to Jefferies Equity Research.

The Hong Kong-based commodities trader reported on Tuesday quarterly earnings of US$106 million ($141.4 million), compared to US$152 million a year earlier.

Included in the latest results was a loss of about US$50 million from Noble's agriculture joint venture, which is expected to do better in the "seasonally strong" 2H2015, Jefferies analyst Abhijit Attavar wrote in a note.

"Year-on-year comparison is a bit tough because Noble had an exceptionally strong 1Q14 due to strong contributions from its energy segment last year."

More importantly, Noble's 1Q2015 earnings of US$106 million did not include any one-off contribution from marked-to-market supply contracts, Attavar said.

"We find this encouraging as it better reflects the core earnings potential of Noble's supply chain business without distortions from lumpy marked-to-market gains."

Noble's substantial US$4.9-billion net working capital in 1Q2015, up from US$3.8 billion as at Dec 31, was a drag on cash flows, he said, but this is not a "big negative" as its total debt is still "reasonably under control" and it could potentially reap fair-value gains of US$1 billion if the oil contango trade reverses in 2H2015.

The jump in net working capital stemmed largely from "a substantial reduction of outstanding creditors" during the quarter, he noted.

"Noble management claims this was just a timing issue and there are no material changes to Noble’s payment terms with its suppliers.

"We believe this could also have been due to rationalisation of some inventory financing structures used by Noble Group earlier."

Jefferies has a "buy" call and $1.30 price target on Noble.

Noble shares were down 1.7% at 87.5 cents at 11:38am (0338 GMT).
 

Keverus

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i believe retail side people losing confidence, but got BBs eating up.

50mil volume already.
 

Keverus

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kope from another forum:



Substantial Shareholders Number of shares held Percent of shares held
Elman, Richard Samuel 1,412,327,737 20.96%
Best Investment Corporation 630,559,454 9.36%
Franklin Resources, Inc. 472,360,908 7.01%
Eastspring Investments (Singapore) Limited 470,921,799 6.99%
Orbis Investment Management Limited 337,186,217 5%
 

OngHuatHuat

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kope from another forum:



Substantial Shareholders Number of shares held Percent of shares held
Elman, Richard Samuel 1,412,327,737 20.96%
Best Investment Corporation 630,559,454 9.36%
Franklin Resources, Inc. 472,360,908 7.01%
Eastspring Investments (Singapore) Limited 470,921,799 6.99%
Orbis Investment Management Limited 337,186,217 5%

Today drop even more.... If got strong heart can take some shares. :)
 

itedino

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Commodity should continue to be low price. Unless shortage if not noble will continue to fall.
 

Keverus

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很像是想要下跌却又犹豫,然后又回到开市前的价位...???

:s13::s13:

hahaha. i was also noticing.

kept bouncing from 86 to 855 and back up again.

but 855 to 85 was quite fast.

now bouncing between 85 to 845.
 

Shion

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Yes, the hesitation to move down/maintain looks strong. I suppose some are entering to stop the drop/ensure doesn't go down too fast/too much
 

Keverus

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on SJ forums, someone is claiming that Morgan Stanley is dumping their shares.

hearsay ah. dont quote me on source.

thanks
 

Keverus

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Commodity should continue to be low price. Unless shortage if not noble will continue to fall.

you're right.

Wilmar just reported 8.3% fall in revenue, yoy.

Outlook for commodities going to be challenging.
 

Keverus

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I see! will check out that forum too.

Noble hit 0.825!

think someone gan cheong, scare massive selloff, just cut loss at 82.5 cents. :s13:

so far holding at 83-83.5 cents...same pattern as yesterday...keep fluctuating within this range...

the downtrend seems inevitable, but got someone stop it from falling...not much avail tho. once this person give up, we may see Noble dip under 80 cents.

just my five cents (inflation lah, cannot keep giving two cents nia)
 
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