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Indigo Reports 73% Drop in Q4 Profits et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 2, 2018 2:05 PM 1 min read
Editorial

End of Day Wrap-up (Wednesday / May 02, 2018) #Indigo #Amazon #Flipkart #Apple #NCLT #Ultratech #Xerox #Snap #Transfin

Editor's comment: Amazon makes formal offer to acquire 60% of Flipkart, with a $2bn breakup fees and including a non-compete agreement. As per reports Flipkart investors are to date leaning towards the Walmart offer.

 

Indigo reports 73% drop in Q4 profits at INR118cr, driven by higher fuel costs. SEBI is investigating 6% drop in share price just prior to announced departure of CEO Aditya Ghosh.

 

Apple reports Q2 revenues touching $61.1bn, up 15% vs prior year, above expectations. Company announced $100bn buyback program and 16% increase in quarterly dividends. Average price of iPhone goes down from $800 at iPhone X sale launch to $728, indicating people are preferring cheaper variants.

 

NCLT accepts Ultratech's revised offer for Binani Cement to be placed in front of the Committee of Creditors. 

 

Activist investors Carl Icahn and Darwin Deason oust CEO and Board of Xerox, putting the $6.1bn Fujifilm acquisition into question. Icahn and Deason own 15% of Xerox and asset Xerox CEO Jeff Jacobson is conflicted in negotiating this transaction, accusing him of accepting terms which undervalue Xerox.  

 

Snap Inc stock down 19% driven by analyst downgrades on Wednesday, with CEO Evan Spiegal suggesting another 'redesign' in the app. Snap's last redesign separating friend and publisher content did not go well with users.