Author Archives: research

About research

Philstocks.ph™ is the online trading division of Accord Capital Equities Corporation (ACEC). In line with its mission to develop the latest innovations and technologies for efficient trade executions of clients, Accord Capital has created the Philstocks.ph™ in 2006 to become an effective online trading platform. In retrospect, not all brokerage houses have an online trading platform. In fact, there are only 10 PSE-recognized online trading facilities to date. This makes Philstocks.ph™ a member of an elite club of online trading participants.

COMPANY UPDATE: DMCI Holdings, Inc. (DMC)

Posted on August 20, 2015 by research

DMC 1H15 Results 1H15 net income up 28% to P6.6bn on earnings growth from SCC, mining, power and water units; construction takes hit from delayed PPP projects but may recover on gov’t spending. Trading at discount. HOLD.

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Accord Capital Daily Highlight, August 20, 2015

Posted on August 20, 2015 by research

OUTLOOK: The main question at this point is how far the rout in Chinese equities poses a drag to domestic sentiments. At this point, unless a strong 2Q GDP comes out next week (or at least levels that would satisfy … Continue reading →

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Market Daily for Wednesday, 19 August 2015

Posted on August 19, 2015 by research

August 19, 2015 HIGHLIGHTS: Personal remittances accelerates to 5.8% in June DMC reports 1H15 net income of PhP6.6bn, up 28% y-o-y on higher unit contributions MEG to build two new high-end malls in Fort Bonifacio  

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Accord Capital Daily Highlight, August 19, 2015

Posted on August 19, 2015 by research

OUTLOOK: The technical view of the market leaves investors with a lot of gnawing questions on the further sustainability of the bull market run. To cite a few bearish patterns – a head and shoulders formation that broke last May; … Continue reading →

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COMPANY UPDATE: Travellers International Hotel Group (RWM)

Posted on August 18, 2015 by research

RWM 1H15 Results 1H15 net income lower-than-expected P2.4bn, down 18% y-o-y on weak casino volumes and higher junket costs; Gross gaming revenue (GGR) down 8% y-o-y on 37% decline in VIP; may see further drop and margin pressures due to … Continue reading →

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Accord Capital Daily Highlight, August 18, 2015

Posted on August 18, 2015 by research

COMPANY REPORT August 2015: The Philippine Stock Exchange [PSE] Second Quarter/First Semester Performance Operating revenue, Pre- and After- Tax Net Incomes declined during the first six months of 2015 compared to the same period last year.  Operating revenue @ … Continue reading →

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Accord Capital Weekly Highlight, August 17 to 21, 2015

Posted on August 17, 2015 by research

OUTLOOK: TECHNICAL & FUNDAMENTAL CONSIDERATIONS play into the trading equations moving into week 34. These factors a briefly mentioned in this box and are further detailed in another part of this report. A death cross emerged in the market’s long-term … Continue reading →

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Market Daily for Friday, 14 August 2015

Posted on August 14, 2015 by research

August 14, 2015 HIGHLIGHTS: Monetary Board keeps key policy rates unchanged Merchandise exports dip 3.3% in June for 3rd straight month BLOOM posts a 1H15 loss of P1.3bn on expansion costs FLI 1H15 net income up 15% to P2.3bn on … Continue reading →

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Accord Capital Daily Highlight, August 14, 2015

Posted on August 14, 2015 by research

OUTLOOK: FRIDAY presents investors with the last day to find a positive impetus that could end the week on a brighter note – or at least a less bearish one – as the mandated deadline for the 2Q and 1H … Continue reading →

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COMPANY UPDATE: Corporate foreign debt

Posted on August 13, 2015 by research

Corporate foreign debt August 2015 Corporate foreign debt continued to increase last year on economic growth and expansion but the recent fall of the peso following the surprise yuan devaluation exposes PSEi shares with high foreign debt levels

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