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Instablog9ja
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Moneyed socialite Bobrisky has revealed that she is not granting any interviews, but if you can pay me N5M, he’ll give you one hour of his time.
He added that people cannot be using him to gather views and money without paying for his time.
Wall Street's Outlook For S&P 500 Earnings Is Cooling More Than Usual
Several Big Banks Will Ushe...
Investopedia
43 m
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Several big banks will usher in the third-quarter earnings season this week, with Wall Street analysts less optimistic about S&P 500 earnings than they were this summer.
The Q3 bottom-up earnings per share estimate for the benchmark index—an aggregation of the median estimate for all of the companies in the S&P 500—fell 3.9% between June 30 and Sept. 30, according to FactSet Senior Earnings Analyst John Butters, dropping to $60.72 from $63.20.
It’s typical for analysts to scale back their estimates during a quarter, Butters wrote Friday. But the average decline for quarters tracked over the past five, 10 and 15 years was no larger than 3.4%. (Over the past 20 years, according to Butters, the average was 4.1%.)
Only one sector saw its bottoms-up estimate rise during the quarter, according to Butters: Information technology, which crept up 0.3%.
That likely means investors will be paying extra close attention to whether big tech companies can continue to sustain stock markets as they have in recent years.
Financial-sector companies are expected to turn in a 0.4% year-over-year drop in Q3 earnings this year, according to a Monday note from DataTrek citing FactSet data. But that’s largely because of banks, which make up roughly a third of the sector by weight. The other segments—capital markets, insurance, financial services and consumer finance—are all seen growing.
“We see large-cap financials as a diversified call on continued US economic growth and continue to like the group,” DataTrek wrote. “Just remember that bank earnings, which are always early in a reporting season, only tell a small part of the story about this sector.”
JPMorgan Chase (JPM) and Wells Fargo (WFC) kick off the reporting season for financial institutions on Friday.
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Instablog9ja
2 hrs
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former Minister of Communications and Digital Economy, Prof. Isa Ali-Pantami, has called for the review of immunity clauses for political office holders in the country.
DAILY NIGERIAN reports that at present, Nigerian President and his Vice, Governors and their Deputies enjoy immunity under Section 308 of the 1999 Constitution.
But speaking during an annual state lecture organised by The Muslims Congress,TMC, on Sunday, Mr Pantami said Islam doesn’t support immunity for leaders.
He noted that abolishing the Act will foster transparency and accountability in governance. Mr Pantami added that immunity has proven to be problematic for many leaders after leaving office.
“In Islam, there is no immunity. And the immunity may give you a certain privilege while in office.When you are no more there, there is no any advantage. Sometimes, it’s good for you, but sometimes it allows you to accumulate so many problems. And when you leave office, you will discover after four or eight years someone is being confronted with 10 to 50-count charges, in some situations even 120. So it’s not in any way preventing you from justice, but it’s only delaying and allowing you to commit more and more.
Making reference to prominent Islamic leaders, Mr Pantami said: “Under Islamic rule of law, there is no immunity. Each and every citizen, the leader and the led can be questioned, can be dragged to court, and they must go there and defend themselves. “It happened with Ali ibn Abi Talib, even as the Khalifa of Muslimun, he was dragged to court. Umar ibn Khatab was also dragged to court. So, rule of law is key. And when it comes to rule of law, there must be equality before that law.”
Instablog9ja
3 hrs
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Governor Fubara has said he is concerned that President Tinubu mentioned only his name in his statement.
He added that he is not the problem and the challenges in Rivers state is not rocket science, everyone knows where the challenge is coming from.
Furthermore, he said he is support of the return of policemen to the local government and they should also provide security to the elected local government chairmen because it was their withdrawal that gave opportunity to the th¥gs the opportunity to @ttack the local government.
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Instablog9ja
4 hrs
18
Music producer Samklef has said you should be cautious of certain friends, as he shades Seun Kuti.
He said friends like Seun Kuti are c@words who associate with you when it is beneficial and later deny you just like Peter denied Jesus. This is why he told VDM not to send him anything he is posting again.
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Investopedia
7 hrs
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Humana (HUM) shares slid after Jefferies downgraded the insurer's stock, pointing to the negative impacts of the company's latest ratings for its Medicare offerings.
Humana stock plunged last week after the Centers for Medicare & Medicaid Services (CMS) said the quality rating of one of its plans, which accounts for nearly half of its Medicare Advantage (MA) memberships, fell to 3.5 stars down from 4.5 stars last year. Higher star ratings generate bonus payments for the insurers that offer plans that earn them.
Today the shares, down nearly 2%, are trading at lows not seen since the early days of the 2020 COVID-19 outbreak. Jefferies, meanwhile, cut its rating on Humana to “hold” from “buy,” and slashed its price target from $419 to $253, well off Wall Street's consensus around $327 according to Visible Alpha data.
The analysts said that although Humana is suing the CMS, calling its star ratings process flawed—and noting that United Health Group (UNH) and Elevance Health (ELV) both filed successful appeals last year—they are continuing to move forward as if Humana would not win its appeal against CMS.
Shares of Humana have sunk since the CMS rating came out last week, adding to a slump that began in January when the company first warned that higher medical costs and government regulations would hurt profits.
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