Friday, November 11, 2016

Noble Group - Net Loss of US$28m for 3Q

Noble report a new loss of US$28 million yesterday. The stock gap down today and suffered some selling. However to my wildest surprise, the stock sprung back up and recovered all the way back to the 0.205 region which is telling me the stock is still strong. Entered 900 lots with 300 lots at different prices and sold everything at 0.195. Small profits but better than nothing today. As of now, Noble is in a whippy range and I am not sure how it will pan out. Waiting for a better time at the turning point to trade this counter again.

SINGAPORE (Nov 10): Noble Group has reported a net loss of US$28.1 million ($39.4 million) for 3Q16, compared with earnings of US$24.7 million in 3Q15.
The losses included a US$60.2 million loss from discontinuing businesses during the current quarter, compared with a loss from discontinuing businesses of US$9.8 million in 3Q15.
Revenue fell 38% to US$11.6 billion on the back of lower revenue recognition among all of the group's business segments.

Ronald K - Market Psychologist - A Stock Market Opportunist