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my shins are showing with these shorts i have on.
Profits down 24% ish. 305mil against expected 325mil.
Lowest ROE since IPO!!
Then they announce a 800mil buy back.
Gosh, must have planned that prior to yesterdays rally in anticipation of a smack down!!
I'm concerned about how much investing they have done in USA with Aus $ shooting the lights out last night.
Can't wait to see what it does today.
my shins are showing with these shorts i have on.
Profits down 24% ish. 305mil against expected 325mil.
Lowest ROE since IPO!!
Then they announce a 800mil buy back.
Gosh, must have planned that prior to yesterdays rally in anticipation of a smack down!!
I'm concerned about how much investing they have done in USA with Aus $ shooting the lights out last night.
Can't wait to see what it does today.
Price has fallen around 50% from the Jan 2011 highs...this profit was drop and truly factored in. MQG might actually rally today.
I wouldn't be in a rush to short this stock near GFC lows.
Profits down 24% ish. 305mil against expected 325mil.
Lowest ROE since IPO!!
Then they announce a 800mil buy back.
Gosh, must have planned that prior to yesterdays rally in anticipation of a smack down!!
I'm concerned about how much investing they have done in USA with Aus $ shooting the lights out last night.
Can't wait to see what it does today.
my statement actually referred to the fact im getting near to selling my shorts...guess I worded it kinda funny..have been short mqg a while now..
Sorry mis-read. At least you've been in it for a while so I assume there would be some profit. Good luck.
Does anyone understand exactly why management plans to buy back 10% of outstanding shares while cutting the interim dividend to 65 cents per share? I'm still trying to wrap my head around the logic.
Hello MQG holders,
I'm interested to see what Technical Analysis others may have about the current situation of MQG.
A nice consolidation area has been formed for a short while now and is now showing some strength in a positive direction.
It seems as a little breakout occurred at the level of $25.00 last week on some higher volume followed by a short pullback on dropping volume. The MACD showed some slight bullish signals and yesterdays price action could indicate a rise is due.
Paper Trade:
Buy: $25.430
Stop: $22.220
Price Target: $35.120
Reward Risk: 3:1
Please note I do not hold this stock, I have posted purely for education and learning purposes.
Good luck.
MACQUARIE GROUP is expected to post its lowest profit in more than seven years this morning as a prolonged slump in the pace of deal making and stalled market turnover has hurt its investment banking arm.
After axing 1000 jobs over the past year, Macquarie's chief executive, Nicholas Moore, is expected to accelerate plans for a further round of cost cuts. More jobs are likely to be axed from the securities division over coming months.
In a recent update Mr Moore warned the investment bank's profit was likely to fall 25 per cent for this year. This implies a full-year profit of $720 million - profit levels recorded in 2005.
Macquarie is among investment banks around the world struggling to boost earnings as turmoil on markets saps investor confidence and demand for advisory and brokerage services.
Mr Moore outlined plans for a share buyback last October as part of efforts to put a floor under the company's sagging share price. But the buyback, which could reach as much as $800 million, largely depends on whether it decides to proceed with an acquisition.
In recent weeks Macquarie has been linked to acquiring ING's Asian-based asset management arm. Any deal could be worth as much as $575 million.
Even with the subdued market environment, gains in Macquarie's shares since the start of the year could also result in the bank pushing back the start date for its share buyback. It has previously said it would start the program during the second half of 2012.
Analysts, including Scott Manning of JP Morgan, have raised doubts whether the program will move ahead at all. If it does, Macquarie is likely to proceed with the program at a cautious pace.
Its shares have jumped 19 per cent this year as investors have welcomed its commitments to boost shareholder returns. Macquarie shares rose yesterday to $28.43.
The Deutsche Bank analyst James Freeman expects Macquarie's profit could return to the $1 billion mark next year, depending on some recovery in global investment markets.
''If current weak trading conditions continued into financial 2012, we would expect downside risk to our forecasts,'' he said.
PetroFrontier Corp. announces termination of bought deal financing by Macquarie
CALGARY, July 11, 2012 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") announces that it has received a notice of termination from Macquarie Capital Markets Canada Inc. ("Macquarie") terminating its obligations pursuant to the Underwriting Agreement made effective June 20, 2012 (the "Underwriting Agreement"), whereby Macquarie had agreed to purchase on a bought deal basis 15,000,000 subscription receipts at a price of $1.00 per subscription receipt. The notice of termination received from Macquarie did not provide the reason for Macquarie terminating its obligations under the Underwriting Agreement. Management of PetroFrontier is of the view that Macquarie did not have a valid legal reason to terminate the Underwriting Agreement and PetroFrontier is currently reviewing it options in this regard.
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