An erosion of their wealth may not be the only piece of bad news for those who hold Punjab National Bank's (PNB) stock. The 125-percent fall in its price since January has resulted in the bank's market capitalisation falling to less than that of its subsidiary PNB Housing Finance.
According to data available with BSE, PNB��s market cap�has fallen�to Rs 20,925.15 crore, less than PNB Housing Finance��s Rs 21,322.92 crore. PNB Housing Finance's stock is currently trading around 5 percent lower than the price at which it started the calendar year.
PNB�has been at the centre of a Rs 14,000-crore bank fraud involving businessmen Nirav Modi and Mehul Choksi. Poor financial performance on the back of rising non-performing assets (NPAs), and a surge in provisions have also weighed on sentiment.
The bank recently reported a net loss of Rs 13,416.91 crore for the quarter ended March, the highest quarterly loss ever posted by any Indian bank. The bottom line was dragged down by a threefold surge in provisions towards bad loans, because the bank chose to provide for most of its bad loans in the March quarter itself.
Best Performing Stocks To Invest In 2019: Tyson Foods Inc.(TSN)
Advisors' Opinion:- [By ]
But what investors are overlooking are the fundamental risks to this logic. Corporate earnings are the lifeblood of the market, keep in mind. Higher oil prices have already translated into higher gas prices, which is a key risk to automakers such as Ford (F) and General Motors (GM) that have pivoted big-time to producing SUVs and trucks. Higher oil prices have already taken a toll on earnings for packaged food giants like Proctor & Gamble (PG) and Tyson Foods (TSN) . Now, each are staring at consumer price increases because it costs more to deliver their products to stores.
- [By Lisa Levin]
Tyson Foods, Inc. (NYSE: TSN) reported weaker-than-expected results for its fiscal second quarter.
Tyson posted quarterly earnings of $1.271 per share on sales of $9.773 billion. Analysts expected earnings of $1.32 per share on sales of $9.89 billion. Tyson expects FY18 earnings of $6.55 to $6.70 per share.
- [By Max Byerly]
Media headlines about Tyson Foods (NYSE:TSN) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Tyson Foods earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned headlines about the company an impact score of 46.975937339582 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
- [By Lisa Levin]
Tyson Foods, Inc. (NYSE: TSN) reported weaker-than-expected results for its fiscal second quarter.
Tyson posted quarterly earnings of $1.271 per share on sales of $9.773 billion. Analysts expected earnings of $1.32 per share on sales of $9.89 billion. Tyson expects FY18 earnings of $6.55 to $6.70 per share.
- [By ]
Cramer said he'll be listening to Tyson Foods (TSN) on Monday, but with rising input costs, the bears are likely to keep winning in the short-term. On a positive note, Service Now (NOW) will be holding an analyst day, which will be sure to ignite the cloud stocks.
- [By ]
In the Lightning Round, Cramer was bullish on T-Mobile US (TMUS) , Lennar (LEN) , Toll Brothers (TOL) , Tyson Foods (TSN) , JB Hunt Transport Services (JBHT) and International Paper (IP) .
Best Performing Stocks To Invest In 2019: Wynn Resorts, Limited(WYNN)
Advisors' Opinion:- [By ]
My most recent recommendation to Income Trader readers is on a stock that was recently flagged by an ITV signal -- Wynn Resorts (NASDAQ: WYNN).
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Monday was Wynn Resorts, Limited (NASDAQ: WYNN) which traded down roughly 9% at $163.45. The stock��s 52-week range is $92.67 to $203.63. Volume was about 26 million compared to the daily average volume of 2.2 million.
- [By Rich Duprey]
Just in case you thought Wynn Resorts (NASDAQ:WYNN) CEO Matthew Maddox was suggesting he would sell the pending Boston Harbor resort to prevent any "contagion"�of misconduct allegations from spreading to the rest of the company, he wants you to know that, no, the project is not up for sale.
Best Performing Stocks To Invest In 2019: Astec Industries, Inc.(ASTE)
Advisors' Opinion:- [By Stephan Byrd]
Shares of Astec Industries (NASDAQ:ASTE) have received an average recommendation of “Buy” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $67.25.
- [By Logan Wallace]
Dean Investment Associates LLC boosted its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 5.1% in the first quarter, HoldingsChannel.com reports. The firm owned 59,000 shares of the industrial products company’s stock after acquiring an additional 2,870 shares during the period. Dean Investment Associates LLC’s holdings in Astec Industries were worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Best Performing Stocks To Invest In 2019: Hertz Global Holdings Inc(HTZ)
Advisors' Opinion:- [By Lisa Levin]
Shares of Hertz Global Holdings, Inc. (NYSE: HTZ) were down 11 percent to $19.77 after the company reported a wider-than-expected loss for its first quarter.
- [By Lisa Levin]
Shares of Hertz Global Holdings, Inc. (NYSE: HTZ) were down 17 percent to $18.505 after the company reported a wider-than-expected loss for its first quarter.
- [By Daniel Miller]
Shares of Hertz Global Holdings, Inc. (NYSE:HTZ), an automotive vehicle rental service specialist, are down 14% as of 11:30 a.m. EDT after the company announced disappointing first-quarter results.
- [By Lisa Levin]
Check out these big penny stock gainers and losers
Losers Nevro Corp. (NASDAQ: NVRO) fell 11.6 percent to $81.58 in pre-market trading after reporting wider-than-expected Q1 loss. Hertz Global Holdings, Inc. (NYSE: HTZ) shares fell 8.3 percent to $20.33 in pre-market trading after the company reported a wider-than-expected loss for its first quarter. Zillow Group, Inc. (NASDAQ: Z) fell 7.5 percent to $51.74 in pre-market trading. Zillow reported upbeat earnings for its first quarter, but issued weak sales guidance for the second quarter. Sanchez Energy Corporation (NYSE: SN) fell 7.2 percent to $3.11 in pre-market trading after reporting wider-than-expected Q1 loss. Atossa Genetics Inc. (NASDAQ: ATOS) shares fell 5.5 percent to $4.14 in pre-market trading after rising 11.17 percent on Monday. Albemarle Corporation (NYSE: ALB) fell 5.1 percent to $95.00 in pre-market trading. Albemarle declared a quarterly dividend of $0.335 per share. Tata Motors Limited (NYSE: TTM) fell 4.8 percent to $23.80 in pre-market trading. Ormat Technologies, Inc. (NYSE: ORA) fell 4.5 percent to $57.14 in pre-market trading after reporting Q1 results. Kitov Pharma Ltd (NASDAQ: KTOV) shares fell 4.3 percent to $2.25 in pre-market trading after gaining 1.73 percent on Monday. 51job, Inc. (NASDAQ: JOBS) shares fell 4.2 percent to $93 in pre-market trading after rising 3.55 percent on Monday
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