4 August 2016
Facebook is the world’s largest social media network, where users
upload and share information about their lives with friends and
family. The company currently has 1.65bn monthly active users,
and is growing this figure by 45-50m per quarter. Facebook earns
the vast majority of its revenue from online social media display
advertising. The company also owns Instagram and Whatsapp.
Facebook possesses a very powerful business model exhibiting
classic network effects – the value to each user is the extent of
user engagement from other users, hence as the largest social
network, it is highly likely to continue gaining scale. As the global
advertising industry shifts increasingly to online (30% market share
in 2015), we expect social media advertising in turn to gain share
given its relatively small share within online (16%). Consequently,
we expect strong growth for Facebook’s advertising revenues. In
addition, given that the business model does not rely on expensive
third party media content (eg live sports rights – ESPN), margins
and return on capital employed are already very high (55% nonGAAP EBIT margin; 38% ROCE) and are likely to rise further as
the group builds further advertising scale. Given the very strong
free cash flows (we estimate $9bn in FY16), Facebook also has
substantial optionality in exploring new business models which
leverage off its huge dataset of its core user base.
Sean discusses the value of Facebook’s 1.6bn users
Facebook trades at a 12-month rolling forward P/E of 30x,
approximately a 50% premium to Alphabet Inc. However, we
expect more than double the growth from Facebook, equalising the
multiples within 5 years. Given its growth phase, we value
Facebook using a discounted cash flow (DCF) incorporating an
11% cost of equity and a 7% terminal growth rate. Our fair value of
$148/share implies 25% upside.
Anchor Capital CIO Sean Ashton discusses the SAB – AB InBev
deal.
4 August 2016
54,033
6,818
52,875
6,678
51,716
6,539
50,558
4-Jul
13-Jul
22-Jul
6,399
4-Jul
2-A ug
South African markets closed in the red on Tuesday, amid weakness in
global equity markets. Retailers, Woolworths Holdings, Mr Price Group
and The Foschini Group dropped 3.8%, 3.5% and 2.3%, respectively.
Among platinum miners, Lonmin fell 3.2%. However, its peers, Anglo
American Platinum and Impala Platinum Holdings gained 1.5% and
0.5%, respectively. Sanlam, Discovery and MMI Holdings declined
3.1%, 2.4% and 1.7%, respectively. Banks, FirstRand, Standard Bank
Group and Nedbank Group eased 3.0%, 2.8% and 1.9%, respectively.
On the brighter side, gold miners, Harmony Gold Mining Co., Sibanye
Gold and Gold Fields jumped 6.3%, 6.1% and 3.4%, respectively.
Group Five rose 3.1%. Sasol added 0.8%. The JSE All Share index
declined 1.1% to close at 52,532.76.
13-Jul
22-Jul
2-A ug
UK markets finished lower yesterday, with the FTSE 100 index closing
in the red, led by weakness in housebuilders. Persimmon, Berkeley
Group Holdings and Taylor Wimpey fell 2.7%, 2.4% and 1.9%,
respectively, ahead of today’s Bank of England (BoE) interest rate
decision. Consumer stocks, British American Tobacco and Imperial
Brands slid 2.4% and 2.3%, respectively. Fresnillo and Randgold
Resources eased 0.7% and 0.5%, respectively. Meanwhile, HSBC
Holdings climbed 4.5%, after it announced plans to buyback shares
worth $2.50bn in 2H16. Standard Chartered advanced 4.2%, after it
returned to profit in 1H16. Next gained 4.1%, following an improvement
in its sales for 2Q16. The FTSE 100 index declined 0.2%, to close at
6,634.40.
S
2,197
16,978
2,154
16,304
2,111
15,630
2,068
4-Jul
13-Jul
22-Jul
14,956
4-Jul
2-A ug
US markets ended higher yesterday, following a rally in oil prices.
Energy firms, The Williams Cos, Marathon Petroleum Corp. and Valero
Energy Corp. climbed 7.1%, 6.3% and 4.5%, respectively.
Intercontinental Exchange advanced 5.3%, after its profit and revenue
for 2Q16 topped market estimates. Time Warner rose 2.7%, after it
indicated that it invested 10.0% in streaming service, Hulu LLC and
reported a more-than-expected rise in its profit for 2Q16. However,
Pfizer, Biogen and Merck & Co. fell 3.0%, 2.7% and 1.2%, respectively.
General Mills sank 1.7%. The S&P 500 index rose 0.3% to settle at
2,163.79, while the DJIA index advanced 0.2% to close at 18,355.00.
The NASDAQ index climbed 0.4% to end the trading session at
5,159.74.
13-Jul
22-Jul
2-A ug
Markets in Asia are trading mostly in the green this morning, mirroring
an overnight advance in their US counterparts. Additionally,
expectations that the BoE would ease its monetary policy today has
buoyed investor sentiment. In Japan, KDDI and NTT Docomo have
dropped 1.6% each, while, Nippon Telegraph & Telephone has dipped
1.3%. However, Suzuki Motor has climbed 5.5%, after it reported
robust sales from April to June, driven by Indian and European
markets. In Hong Kong, Standard Chartered added 2.8%. In South
Korea, Samsung Electronics has gained 0.9%. The Nikkei 225 index is
trading 0.3% higher at 16,132.91. The Hang Seng index is trading
0.1% down at 21,863.98, while the Kospi index is trading 0.2% higher
at 1,999.00.
Last Close
1D Chg
1D % Chg
YTD% Chg
1M % Chg
1Y % Chg
P/E Multiple (x)
JSE All Share**
52,532.76
-594.04
-1.1
3.6
0.1
0.2
18.18
JSE Africa Resource 10**
31,845.27
205.09
0.6
25.4
1.6
-9.3
45.27
JSE Africa Financial 15**
15,163.31
-270.15
-1.8
-0.5
4.5
-13.2
11.46
JSE Africa Industrial 25**
69,235.55
-1,072.49
-1.5
-3.5
-2.3
1.4
26.77
6,634.40
-11.00
-0.2
6.3
1.7
-0.8
53.52
German DAX 30
10,170.21
25.87
0.3
-5.3
4.7
-11.2
22.53
France CAC 40
4,321.08
-6.91
-0.2
-6.8
2.0
-15.5
21.59
S&P 500
2,163.79
6.76
0.3
5.9
2.9
3.4
20.28
18,355.00
41.23
0.2
5.3
2.3
4.6
17.75
5,159.74
22.01
0.4
3.0
6.1
1.1
33.49
16,132.91
49.80
0.3
-15.5
1.9
-21.6
19.68
2,972.66
-5.80
-0.2
-15.8
-0.3
-20.7
16.37
21,863.98
-27.39
-0.1
-0.1
4.0
-10.3
11.13
FTSE 100
Dow Jones Industrials
Nasdaq Composite
Nikkei 225*
Shanghai Composite*
Hang Seng Index*
*Time - SAST 6:00:00 AM **As on 02 August 2016
4 August 2016
Yesterday, the Illinois North Central No.2 Yellow corn spot prices
rose 0.3% to $3.09/bushel.

At 06:00 SAST today, gold prices declined 0.5% to trade at
$1,351.29/oz. Yesterday, gold declined 0.4% to close at $1,358.18/
oz, amid strength in the US dollar after data indicated that the US
economy added more number of jobs last month.

49.0
3.4
46.1
3.3
43.1
3.2
40.2
3.0
4-Jul
13-Jul
Crude - LHS
22-Jul
2-A ug
Corn - RHS
Gold & Platinum Prices Spot
Yesterday, copper declined 0.4% to close at $4,859.50/mt.
Aluminium closed 0.9% higher at $1,629.50/mt.
139 4
119 0
135 9
114 2
132 4
109 5
128 9
$/oz

$/bbl
At 06:00 SAST today, Brent crude oil fell 0.5% to trade at $42.23/bl,
Yesterday, Brent crude oil surged 4.4% to settle at $42.38/bl, after
the US Energy Department (EIA) reported that gasoline inventories
declined more-than-expected by 3.3mn bls last week. Meanwhile, the
EIA indicated that US crude inventories increased unexpectedly by
1.4mn bls last week.
$/oz

$/bushel
Crude Oil and Corn Prices Spot
104 8
4-Jul
13-Jul
Gol d - LHS
22-Jul
2-A ug
Platinu m - RHS
Copper, Aluminium & Iron Ore Prices Spot
(Rebased to 100)
120
110
100
90
4-Jul
Copper
13-Jul
Aluminium
22-Jul
2-Aug
Iron Ore 62% Fe Content - CFR Qingdao China
USD/ZAR Movement
14.907 9

Yesterday, the South African rand strengthened against the US dollar.
Earlier today, as counting of the votes were underway, data indicated
that the ruling African National Congress (ANC) party held a 50.0%
lead in the municipal elections in South Africa. On Tuesday, data
revealed that activity in South Africa's private sector improved slightly
last month. In the US, the ISM non-manufacturing Purchasing
Managers’ Index (PMI) fell more-than-expected in July. Meanwhile, the
US private sector added more number of jobs than expected in July.
Later today, traders will focus on the US initial jobless claims and
durable goods orders data for further cues.

The yield on benchmark government bonds was mixed yesterday. The
yield on 2016 bond declined to 7.06% while that for the longer-dated
2026 issue rose to 8.65%.

At 06:00 SAST, the US dollar is trading 0.1% lower against the South
African rand at R13.9000, while the euro is trading 0.2% lower at
R15.4835. At 06:00 SAST, the British pound has gained slightly against
the South African rand to trade at R18.5346.

Yesterday, the euro declined against most of the major currencies.
Meanwhile, the eurozone services PMI rose surprisingly in July. Growth
in services activity in Germany and France also increased in July. The
UK services PMI continued to contract in July. Today, investors will
track the BoE’s interest rate decision along with the minutes of its latest
monetary policy meeting. A speech by the BoE Governor, Mark Carney
will attract market attention.

At 06:00 SAST, the euro slipped 0.1% against the US dollar to trade at
$1.1142, while it has weakened 0.1% against the British pound to trade
at GBP0.8358.
14.518 6
14.129 2
13.739 9
4-Jul
13-Jul
22-Jul
2-A ug
EUR/ZAR Movement
16.514 2
16.126 7
15.739 3
15.351 8
4-Jul
13-Jul
22-Jul
2-A ug
GBP/ZAR Movement
19.552 9
19.088 7
18.624 6
18.160 4
4-Jul
13-Jul
22-Jul
2-A ug
4 August 2016
% Closing
Yield
% Change
on Day
Yield % 1M Ago
South Africa CPI*
6.30
0.00
6.30
South Africa Repo Rate
7.00
0.00
7.00
JSE SA Listed Property Index
5.06
0.00
5.13
R159 (2016) (SA Bond)
7.06
-1.63
7.20
R207 (2020) (SA Bond)
7.99
0.06
8.03
R186 (2026) (SA Bond)
8.65
0.02
8.68
US 10 Year Treasury
1.54
-0.89
1.44
US 30 Year Treasury
2.30
-0.46
2.23
Italian 10 Year Treasury
1.22
0.16
1.25
-0.04
5.56
-0.14
YIELD CORNER
German 10 Year Treasury
SOUTH AFRICAN GOVERNMENT BOND YIELDS
10.7%
9.8%
8.9%
8.1%
7.2%
6.4%
Aug-15
Feb-16
R159 (2016)
* As on June 2016
Peregrine Holdings Ltd (2831.00, -214.00, -7.0%)
Mpact Ltd (3218.00, -195.00, -5.7%)
Accelerate Property Fund Ltd (594.00, -26.00, -4.2%)
MTN Group Ltd (13253.00, -569.00, -4.1%)
Woolworths Holdings Ltd/South Africa (8757.00, -343.00, -3.8%)
Vukile Property Fund Ltd (1780.00, -68.00, -3.7%)
Mr Price Group Ltd (21958.00, -796.00, -3.5%)
Barloworld Ltd (8150.00, -293.00, -3.5%)
Imperial Holdings Ltd (16508.00, -592.00, -3.5%)
Pivotal Fund Ltd/The (1815.00, -64.00, -3.4%)
-7.8%
Nov-15
-6.2%
-4.7%
-3.1%
-1.6%
Aug-16
R186 (2026)
Harmony Gold Mining Co Ltd (6665.00, 395.00, 6.3%)
Sibanye Gold Ltd (7023.00, 403.00, 6.1%)
Ascendis Health Ltd (2455.00, 120.00, 5.1%)
Tsogo Sun Holdings Ltd (3023.00, 114.00, 3.9%)
Hosken Consolidated Investments Ltd (13251.00, 467.00, 3.7%)
Gold Fields Ltd (9100.00, 300.00, 3.4%)
Sun International Ltd/South Africa (8620.00, 260.00, 3.1%)
Group Five Ltd/South Africa (2397.00, 72.00, 3.1%)
AngloGold Ashanti Ltd (31700.00, 893.00, 2.9%)
Raubex Group Ltd (1900.00, 49.00, 2.7%)
0.0%
Figures in bracket indicate (Last Close, Absolute Change, % Change)
May-16
1.6%
3.1%
4.7%
6.2%
7.8%
4 August 2016
Company Name
Price (R) - Local
Exchange
Primary Exchange
Price (Primary Equivalent Price Price Difference
Exchange)
(R)
(R)
Anglo American Plc
155.62
London Stock Exchange
8.35 GBP
154.84
0.78
BHP Billiton Plc
173.65
London Stock Exchange
9.49 GBP
175.82
-2.17
British American Tobacco Plc
888.74
London Stock Exchange
47.03 GBP
871.68
17.06
Capital & Counties Properties Plc
52.00
London Stock Exchange
2.77 GBP
51.30
0.70
Cie Financiere Richemont SA*
81.46
SIX Swiss Exchange
56.90 CHF
81.26
0.20
Intu Properties Plc
55.52
London Stock Exchange
2.95 GBP
54.68
0.84
Investec Plc
82.70
London Stock Exchange
4.45 GBP
82.40
0.30
Lonmin Plc
40.90
London Stock Exchange
2.33 GBP
43.14
-2.24
Mondi Plc
283.73
London Stock Exchange
15.34 GBP
284.32
-0.59
New Europe Property Investments Plc/Fund
161.95
London Stock Exchange
10.38 EUR
160.64
1.31
38.70
London Stock Exchange
2.08 GBP
38.55
0.15
Pan African Resources Plc
4.05
London Stock Exchange
0.23 GBP
4.17
-0.12
Reinet Investments SCA*
30.95
Luxembourg Stock Exchange
19.60 EUR
30.35
0.60
Old Mutual Plc
SABMiller Plc
803.96
London Stock Exchange
44.06 GBP
816.54
-12.58
AngloGold Ashanti Ltd
317.00
New York Stock Exchange
21.80 USD
303.02
13.98
DRDGOLD Ltd*
12.33
New York Stock Exchange
8.17 USD
11.36
0.97
Gold Fields Ltd
91.00
New York Stock Exchange
6.18 USD
85.90
5.10
Harmony Gold Mining Co Ltd
66.65
New York Stock Exchange
4.63 USD
64.36
2.29
8.01
London Stock Exchange
0.42 GBP
7.86
0.15
Glencore Xstrata Plc
34.30
London Stock Exchange
1.84 GBP
34.18
0.12
Steinhoff International Holdings NV
87.17
Xetra Stock Exchange
5.63 EUR
87.11
0.06
110.90 EUR
1,717.12
29.62
Redefine International Plc/Isle of Man
Anheuser-Busch
1,746.74
En Brussels Stock Exchange
*Values on Local Stock Exchange as on 2nd Aug, 2016. * Depositary Reciepts (DR) trade in the ratio of ten DRs to each Company share; Exchange Rate USDZAR:13.9000, EURZAR:15.4835, GBPZAR:18.5346, CHFZAR:14.2813, Conversion rate as of 6:00 SAST
Company Name
Closing Price (R)
1D% Chg
Anglo American Platinum Ltd
459.97
1.5%
Hits 52 Week High
AngloGold Ashanti Ltd
317.00
2.9%
Hits 52 Week High
Cashbuild Ltd
387.62
-0.9%
Hits 52 Week High
Gold Fields Ltd
91.00
3.4%
Hits 52 Week High
Harmony Gold Mining Co Ltd
66.65
6.3%
Hits 52 Week High
Impala Platinum Holdings Ltd
63.50
0.5%
Hits 52 Week High
148.01
1.8%
Hits 52 Week High
Northam Platinum Ltd
52.60
0.2%
Hits 52 Week High
Sibanye Gold Ltd
70.23
6.1%
Hits 52 Week High
Tsogo Sun Holdings Ltd
30.23
3.9%
Hits 52 Week High
Cie Financiere Richemont SA
81.46
-2.5%
Hits 52 Week Low
Investec Ltd
82.81
0.5%
Hits 52 Week Low
Investec Plc
82.70
0.0%
Hits 52 Week Low
Stenprop Ltd
19.95
-1.6%
Hits 52 Week Low
7.08
-1.0%
Hits 52 Week Low
Kumba Iron Ore Ltd
Texton Property Fund Ltd
52 Week High / Low
4 August 2016

At 5am on Thursday morning in South Africa, results for eight out of 213 councils have been declared, with the ANC having won control of six and the
Democratic Alliance (DA) winning control of two in the local government elections. Amongst the quarter of the votes counted so far, the ANC held a
50.0% share, against 34.0% for the DA.

South Africa’s Standard Bank manufacturing PMI rose to a level of 49.90 in July, from 49.60 in the prior month.

The final services PMI eased to 47.40 in July, in the UK, compared with a reading of 52.30 in the prior month. Market expectation was for the PMI to
ease to a level of 47.40. The preliminary figure had also recorded a drop to 47.40.

In July, the final services PMI in France climbed to 50.50, compared with market expectations of a rise to 50.30. In the previous month, the PMI had
registered a reading of 49.90. The preliminary figure had recorded a rise to 50.30.

In July, the final services PMI climbed to 54.40 in Germany, compared with market expectations of an advance to a level of 54.60. In the prior month,
the PMI had registered a reading of 53.70. The preliminary figure had indicated an advance to 54.60.

On a monthly basis, the seasonally adjusted retail sales remained flat in June, in the eurozone, compared with an advance of 0.4% in the prior
month. Market anticipation was for retail sales to record an unchanged reading.

The final services PMI rose unexpectedly to a level of 52.90 in July, in the eurozone. The preliminary figure had recorded a fall to 52.70. In the
previous month, the services PMI had recorded a level of 52.80.

The ISM non-manufacturing PMI eased to 55.50 in the US, in July, compared with a level of 56.50 in the prior month. Market expectation was for the
PMI to drop to a level of 55.90.

Private sector employment advanced by 179.00k in the US, in July, compared with market expectations of an advance of 170.00k. The private sector
employment had recorded a revised gain of 176.00k in the previous month.

In June, the seasonally adjusted retail sales in Australia rose 0.1% on a monthly basis, lower than market expectations for a rise of 0.3%. Retail sales
had advanced 0.2% in the prior month.
Consensus
Previous/
**Previous Est.
Frequency
-
-
-
-16.00
-15.00
Quarterly

-
-
-

-
-
-
-
-
-

0.3%
0.5%
-

GBP375.00bn
GBP375.00bn
-

-
-0.8%
Monthly
Electricity Production (YoY) (Jun)

-
1.0%
Monthly
13:00
Monetary Policy Summary

-
-
-
UK
13:00
Bank of England Minutes

-
-
-
UK
13:30
BoE's Governor Carney Speech

-
-
-
US
14:30
Initial Jobless Claims (30-Jul)
265.00k
266.00k
Weekly
US
16:00
Durable Goods Orders, Final (Jun)

-4.0%
-4.0%**
Monthly
US
16:00
Factory Orders (MoM) (Jun)

-1.9%
-1.0%
Monthly
Country
SAST
Economic Indicator
Japan
3:30
BoJ Deputy Governor Iwata Speaks in Yokohama
Switzerland
7:45
SECO Consumer Climate (3Q)
Eurozone
10:00
ECB Publishes Economic Bulletin
US
12:15
Fed's Kaplan Speaks in Shanghai
UK
13:00
BoE Inflation Letter

UK
13:00
BoE Interest Rate Decision
UK
13:00
BoE Asset Purchase Facility
South Africa
13:00
Electricity Consumption (YoY) (Jun)
South Africa
13:00
UK
Note:
 High
 Medium
Relevance
 Low



4 August 2016
South Africa

Pan African Resources Plc: The precious metals producer, in its trading statement for FY16, indicated that it expects EPS to be 157.0% to
177.0% higher than 11.48c reported in the prior year. It anticipates headline EPS to rise and be between 29.45c to 31.79c, compared with 11.67c
posted in the previous year. In sterling, EPS and headline EPS is expected to rise and to be within a range of 1.37p to 1.50p. It stated that earnings
are expected to be substantially higher following robust operating performances from its Barberton and Evander Mines and a significant rise in gold
prices.

African Oxygen Limited: The manufacturer, in its trading statement for 1H16, revealed that it expects EPS to rise between 72.00c and
79.00c, compared with 35.00c recorded in the corresponding period of the previous year, due to improved margins, as a result of the restructuring
initiatives initiated in 2015. It expects headline EPS to between 90.0% and 109.0% higher than the 37.00c posted in the same period of the preceding
year.

SABMiller Plc: Following satisfaction of the pre-conditions to the combination with Anheuser-Busch InBev SA/NV, the brewing & beverage
company agreed to a timetable for the implementation of the combination. The expected timetable envisages publication of the UK scheme document
and other key transaction documents on 26 August 2016 and completion of the combination on 10 October 2016. MillerCoors LLC, the US joint
venture between Molson Coors Brewing Co. and SABMiller Plc, in its 2Q16 results, stated that its net income decreased to $468.80mn from
$487.20mn posted in the corresponding period of the previous year.

Anglo American Plc: The miner announced that the value of rough diamond sales for De Beers ’ sixth sales cycle of 2016, amounted to
$520.00mn, compared with the $564.00mn recorded in the fifth sales cycle of 2016. It added that it maintains a cautious outlook for the remainder of
2016.

Rockcastle Global Real Estate Company Limited: The real estate company announced that Mr. Marek Pawel Noetzel has been appointed as
an Executive Director with effect from 01 August 2016.

Attacq Limited: The real estate investment and development company indicated that through its subsidiary Attacq Waterfall Investment
Company Proprietary Limited, it has disposed of the development rights in respect of the immovable property described as land parcel 24, Waterfall
situated in Midrand, Gauteng, measuring 30.85 hectares to Winter Robin Investments 26 Proprietary Limited by a cession, assignment and transfer
for R86,398,858.08. The consideration is payable by the creation of a loan account by Winter Robin in favour of Attacq Waterfall.

Net 1 says state welfare agency breached constitution: South African welfare-grant distributor Net 1 UEPS Technologies said a state agency
has breached the constitution by amending regulations to prevent deductions from the payments to some of the country’s poorest people.
UK and US

Time Warner Inc.: The media company, in its 2Q16 results, stated that its revenue decreased to $6.95bn from $7.35bn posted in the
corresponding period of the previous year, due to a decline at Warner Bros., partially offset by growth at Turner and Home Box Office and lower
intersegment eliminations. However, its adjusted diluted EPS rose 3.2% from the same period of the prior year to $1.29. For FY16, the firm expects
adjusted diluted EPS to be in the range of $5.35 to $5.45.

Occidental Petroleum Corporation: The oil & gas company, in its 2Q16 results, revealed that its total net sales declined 27.0% from the
same period of the preceding year to $2.53bn. It reported a diluted loss of $0.18/share, compared with a diluted EPS of $0.23 recorded in the
corresponding period of the previous year. For FY16, the company expects production growth at the high end of its 4.0% to 6.0% guidance.

Twenty-First Century Fox Inc.: The mass media company, in its FY16 results, indicated that its total revenue fell to $27.33bn, compared with
$28.99bn posted in the previous year, reflecting higher affiliate and advertising revenues at both the Cable Network Programming and Television
segments. However, its adjusted EPS increased 0.6% from the prior year to $1.73. Income from continuing operations before income tax benefit
declined to $4.15bn, from $9.85bn reported in the preceding year.

Dominion Resources Inc.: The power & energy company, in its 2Q16 results, reported that its operating revenue declined 2.8% from the
same period of the preceding year to $441.00mn. Its diluted EPS stood at $0.73, compared with $0.70 recorded in the corresponding period of the
previous year. For FY16, the firm expects EPS to be in the range of $3.60 to $4.00, while for 3Q16, it anticipates EPS to be between $0.95 and $1.10.

Metlife Inc.: The life insurance company, in its 2Q16 results, stated that its total revenue decreased to $15.24bn as compared with $16.17b n
posted in the corresponding period of the previous year. Its diluted EPS fell 93.5% from the same period of the prior year to $0.06. It posted a loss
from continuing operations before provision for income tax of $100.00mn, compared with an income of $1,113.00mn recorded in the similar period of
the preceding year.

Prudential Financial Inc.: The life insurance company, in its 2Q16 results, indicated that its net income declined 34.5% from the same period
of the preceding year to $1,406.00mn. Its adjusted operating income before income taxes stood at $1.06mn, compared with $1.84mn recorded in the
corresponding period of the previous year.

HSBC Holdings Plc: The banking & financial services company, in its 1H16 results, stated that its revenue decreased to $29.47bn from
$32.94bn posted in the corresponding period of the previous year. Its adjusted diluted EPS fell 33.3% from the same period of the prior year to $0.32.
Its profit before tax decline to $9.71bn, compared with $13.63bn recorded in the similar period of the preceding year.

Rio Tinto Plc: The miner, in its 1H16 results, showed that its consolidated sales revenue fell to $15.50bn from $17.98bn posted in the same
period of the preceding year, due to the decline in commodity prices. However, its diluted EPS from continuing operations surged from the
corresponding period of the previous year to 94.90c. For FY16, the company expects capital expenditure expected to be around $4.00bn,
approximately $5.00bn in FY17 and about $5.50bn in FY18.
4 August 2016

Standard Chartered Plc: The financial services company, in its 1H16 results, indicated that its net interest income declined 20.0% from the
corresponding period of the prior year to $3.99mn. Its diluted EPS stood at 11.90c, compared with 55.50c recorded in the same period of the
previous year. For FY16, the firm expects performance to remain subdued and indicated that it would take the company longer to deliver the return
on equity set out in November 2015.

Next Plc: The retailer, in its trading statement for 2Q16 results, revealed that its Full price sales rose 0.3% from the same period of the
preceding year, which is an improvement on the 0.9% fall in 1Q16. It now expects total full price sales for FY16 to be between 2.5% lower and 2.5%
higher and gross profit before tax to be between GBP775.00mn and GBP845.00mn. It added that in the medium term, the devaluation of the pound
will have no effect on trading in FY16, but is likely to affect the cost price of its goods from next year.

Aggreko Plc: The power and temperature control rental services provider, in its 1H16 results, reported that its revenue decreased to
GBP685.00mn from GBP781.00mn posted in the corresponding period of the previous year. Rental Solutions revenue was 4.8% lower, driven by the
decline in upstream oil and gas in North America and softness in the petrochemical and refining sector. Its adjusted diluted EPS fell 33.1% from the
same period of the prior year to 19.81p. For FY16, the firm expects profit before tax to be slightly lower on an underlying basis than last year.
Performance in Power Solutions Industrial is expected to improve in 2H16.

Moneysupermarket.com Group Plc: The internet-based service provider, in its 1H16 results, stated that its revenue advanced 9.5% from the
same period of the preceding year to GBP157.61mn, due to strong growth in Home Services and Money verticals and as Insurance returned steadily
to momentum. Its diluted EPS stood at 7.80p, compared with 7.30p recorded in the corresponding period of the previous year. Also, it stated that
Chief Executive, Peter Plumb, has indicated his intention to step down for his position on or before the AGM in May 2017.

Millennium & Copthorne Hotels Plc: The hotel chain, in its 1H16 results, showed that its total revenue rose to GBP418.00mn from
GBP404.00mn posted in the corresponding period of the previous year, due to higher land sales. However, its adjusted diluted EPS decreased
17.0% from the same period of the prior year to 9.30p. Its profit before tax decline to GBP56.00mn, compared with GBP62.00mn recorded in the
similar period of the preceding year.
Financial Times

Scottish miner predicts golden future: A Scottish mining company has celebrated its first gold production with champagne and canapés
halfway up the cloud-shrouded mountain that it believes holds about GBP200.00mn of the precious metal. To Read More Click Here

Vodafone and Liberty Global win EU approval for Dutch merger: Vodafone and Liberty Global have secured approval from Brussels for
their plan to combine their Dutch businesses, clearing the way for the companies to create the Netherlands’ second-largest mobile and cable
operator. To Read More Click Here

Ex-Google venture capitalist turns up at medtech’s TrialReach: Eze Vidra, a leading venture capitalist, has become the latest big tech
name to join TrialReach, a UK start-up that has thus far avoided the funding problems he says are being experienced by others following the Brexit
vote. To Read More Click Here

Hulu valued at $5.80bn on Time Warner stake: Time Warner has paid $583.00mn for a 10.0% stake in Hulu, valuing the video streaming
company at $5.80bn, as the owner of HBO and CNN looks to appeal to a generation of “cord-cutting” consumers who are eschewing traditional
television in favour of streaming. To Read More Click Here

Dubai International Airport reopens after jet crash-lands: Dubai International airport, one of the world’s busiest, has reopened after
suspending operations for nearly six hours on Wednesday after an Emirates passenger jet crash-landed and burst into flames. To Read More Click
Here

Profits double at Apollo as value of portfolio companies rises: Apollo Global Management more than doubled profits in the second
quarter as the private equity group raked in performance fees, and the value of its portfolio companies rose. To Read More Click Here

TIAA in talks to buy EverBank for $2.50bn: TIAA is in talks to buy the lender EverBank Financial for about $2.50bn, according to people
familiar with the matter, in the latest sign that the not-for-profit pensions group is diversifying its operations. To Read More Click Here

Direct Line: Fell 2.2% to 391.00p, on news of a special dividend. To Read More Click Here

GKN: Added 3.2% to 295.60p, helped by further speculation about a bid. To Read More Click Here
Lex:

Walmart: Propulsion needed: Walmart seems too attuned to the short-term return goals of its restless shareholders to blow $3.00bn on a dicey
online start-up. After a profit warning in October, to which an incremental $1.50bn investment in ecommerce contributed, Walmart’s shares had their
sharpest one-day fall for 25 years; it has been trying to provide reassurance on margins ever since. To Read More Click Here

Metro AG: Divide and conquer: Judging only by its long-term stock chart, Metro AG’s restructuring efforts appear to have misfired. The chart which shows a stock price 40.0% lower than 10 years ago and a sideways trend for the past five - is deceptive, though. Metro is doing the right thing.
It just needs to do more of it. To Read More Click Here

HSBC: Dividend doubt: If HSBC can deliver something resembling stability, its shares will rise. Trying for more is a mistake. That
maintaining the status quo is hard enough was made clear on Wednesday. The bank announced that both its progressive dividend and its target of
double-digit returns on equity by next year would be scrapped. To Read More Click Here
4 August 2016
South Africa
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Sappi Limited
3Q
$
0.57
5,213.80
Mondi Limited
2Q
EUR
1.40
6,875.50
Mondi Plc
2Q
EUR
1.40
6,875.50
UK
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Aviva Plc
1H16
GBP
0.49
31,967.40
London Stock Exchange Group Plc
1H16
GBP
1.25
1,520.20
RSA Insurance Group Plc
1H16
GBP
0.33
6,413.65
Inmarsat Plc
1H16
GBP
0.47
1,311.30
Cobham Plc
1H16
GBP
0.13
1,989.95
Ladbrokes Plc
1H16
GBP
0.06
1,263.91
Serco Group Plc
1H16
GBP
0.03
2,941.45
Europe
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Siemens AG
3Q
EUR
6.79
79,703.90
Merck KGaA
1H16
EUR
5.85
15,099.00
Nokia OYJ
1H16
EUR
0.19
24,679.80
Beiersdorf AG
1H16
EUR
2.97
6,757.46
US
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Priceline Group Inc.
2Q
$
66.87
10,620.00
Duke Energy Corp.
2Q
$
4.60
24,170.00
Regeneron Pharmaceuticals Inc.
2Q
$
10.82
5,110.00
EOG Resources Inc.
2Q
$
(1.82)
6,680.00
Becton Dickinson and Co
3Q
$
8.56
12,530.00
Monster Beverage Corp.
2Q
$
3.91
3,050.00
Activision Blizzard Inc.
2Q
$
1.88
6,380.00
Kellogg Co
2Q
$
3.68
13,220.00
Sempra Energy
2Q
$
4.81
10,580.00
Liberty Global Plc
2Q
$
-
-
4 August 2016
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Consolidated Edison Inc.
2Q
$
3.99
12,450.00
Apache Corp.
2Q
$
(0.41)
5,280.00
Viacom Inc.
3Q
$
4.36
12,840.00
Biomarin Pharmaceutical Inc.
2Q
$
(2.18)
1,090.00
Mohawk Industries Inc.
2Q
$
12.24
8,960.00
Parker-Hannifin Corp.
4Q
$
6.31
11,340.00
Henry Schein Inc.
2Q
$
6.63
11,540.00
Symantec Corp.
1Q
$
1.09
3,530.00
Church & Dwight Co Inc.
2Q
$
3.53
3,520.00
Motorola Solutions Inc.
2Q
$
4.52
5,990.00
Federal Realty Investment Trust
2Q
$
5.68
803.66
Randgold Resources Limited
2Q
$
3.11
1,200.00
Ametek Inc.
2Q
$
2.45
3,940.00
WestRock Co
3Q
$
3.96
11,510.00
TripAdvisor Inc.
2Q
$
1.69
1,570.00
Ball Corp.
2Q
$
3.45
9,630.00
Iron Mountain Inc.
2Q
$
2.25
3,500.00
Icahn Enterprises LP
2Q
$
(2.85)
16,000.00
ANSYS Inc.
2Q
$
3.56
998.26
Fluor Corp.
2Q
$
3.39
18,590.00
Melco Crown Entertainment Limited
2Q
$
0.33
4,460.00
VimpelCom Limited
2Q
$
0.35
8,970.00
Zillow Group Inc.
2Q
$
0.12
831.50
MercadoLibre Inc.
2Q
$
2.72
757.62
Atlassian Corporation Plc
4Q
$
0.33
451.94
PerkinElmer Inc.
2Q
$
2.80
2,320.00
Alnylam Pharmaceuticals Inc.
2Q
$
(4.94)
41.70
Harman International Industries Inc.
4Q
$
6.19
6,830.00
TESARO Inc.
2Q
$
(7.16)
19.89
Intercept Pharmaceuticals Inc.
2Q
$
(16.94)
21.39
ACADIA Pharmaceuticals Inc.
2Q
$
(1.81)
17.91
VWR Corp.
2Q
$
1.71
4,580.00
AMC Networks Inc.
2Q
$
5.84
2,770.00
Akorn Inc.
2Q
$
2.16
1,080.00
Quanta Services Inc.
2Q
$
1.67
7,690.00
Grupo Financiero Galicia SA
2Q
$
2.90
1,800.00
Ubiquiti Networks Inc.
4Q
$
2.35
655.25
4 August 2016
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
EchoStar Corp.
2Q
$
1.75
3,100.00
Sprouts Farmers Market Inc.
2Q
$
0.97
4,150.00
Universal Display Corp.
2Q
$
1.08
217.86
Chesapeake Energy Corp.
2Q
$
(0.32)
7,860.00
Take-Two Interactive Software Inc.
1Q
$
1.29
1,610.00
China Biologic Products Inc.
2Q
$
4.29
345.55
Juno Therapeutics Inc.
2Q
$
(2.28)
45.01
FireEye Inc.
2Q
$
(1.24)
793.56
Ligand Pharmaceuticals Inc.
2Q
$
3.30
116.60
Littelfuse Inc.
2Q
$
5.66
1,020.00
HSN Inc.
2Q
$
3.30
3,720.00
Allscripts Healthcare Solutions Inc.
2Q
$
0.58
1,590.00
Zynga Inc.
2Q
$
0.03
743.48
Cornerstone OnDemand Inc.
2Q
$
0.03
431.44
Houghton Mifflin Harcourt Co
2Q
$
(0.96)
1,540.00
Radius Health Inc.
2Q
$
(3.71)
20.41
Ironwood Pharmaceuticals Inc.
2Q
$
(0.58)
250.10
MGE Energy Inc.
2Q
$
2.30
598.20
Grand Canyon Education Inc.
2Q
$
3.06
861.32
51job Inc.
2Q
$
1.57
343.44
Cogent Communications Holdings Inc.
2Q
$
0.44
449.86
Carrizo Oil & Gas Inc.
2Q
$
0.76
522.39
Acxiom Corp.
1Q
$
0.55
885.24
RBC Bearings Inc.
1Q
$
3.40
632.54
Agios Pharmaceuticals Inc.
2Q
$
(3.46)
119.80
Lexicon Pharmaceuticals Inc.
2Q
$
(1.55)
77.33
2U Inc.
2Q
$
(0.19)
201.42
NIC Inc.
2Q
$
0.69
315.69
TASER International Inc.
2Q
$
0.28
234.02
Nxstage Medical Inc.
2Q
$
(0.12)
359.84
Relypsa Inc.
2Q
$
(5.99)
33.11
Pacira Pharmaceuticals Inc.
2Q
$
0.29
282.49
Builders FirstSource Inc.
2Q
$
0.86
6,540.00
AAON Inc.
2Q
$
0.98
390.45
Consolidated Communications Holdings Inc.
2Q
$
0.70
762.99
Five Prime Therapeutics Inc.
2Q
$
(2.35)
24.58
Navigators Group Inc.
2Q
$
4.83
1,080.00
4 August 2016
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Acceleron Pharma Inc.
2Q
$
(1.55)
28.43
Air Methods Corp.
2Q
$
3.35
1,220.00
Achillion Pharmaceuticals Inc.
2Q
$
(0.64)
-
Tower Semiconductor Limited
2Q
$
1.41
1,210.00
Universal Electronics Inc.
2Q
$
3.36
670.04
Inogen Inc.
2Q
$
0.60
189.90
Interval Leisure Group Inc.
2Q
$
1.06
1,410.00
Maiden Holdings Limited
2Q
$
1.63
2,490.00
Super Micro Computer Inc.
4Q
$
1.57
2,230.00
Stratasys Limited
2Q
$
0.33
711.53
Repligen Corp.
2Q
$
0.47
99.45
Web.com Group Inc.
2Q
$
2.42
756.30
Primoris Services Corp.
2Q
$
1.15
2,190.00
State Auto Financial Corp.
2Q
$
0.88
1,340.00
US Concrete Inc.
2Q
$
3.68
1,210.00
Infinity Property and Casualty Corp.
2Q
$
3.84
1,350.00
Mitel Networks Corp.
2Q
$
0.61
1,220.00
Windstream Holdings Inc.
2Q
$
(3.75)
5,480.00
Inc.ontact Inc.
2Q
$
(0.25)
262.34
Archrock Partners LP
2Q
$
0.57
584.00
Perficient Inc.
2Q
$
1.32
519.92
Momenta Pharmaceuticals Inc.
2Q
$
(1.40)
91.56
ORBCOMM Inc.
2Q
$
(0.11)
199.06
TrueCar Inc.
2Q
$
(0.29)
271.80
Wingstop Inc.
2Q
$
0.54
90.62
Pacific Biosciences of California Inc.
2Q
$
(0.86)
93.34
Cerus Corp.
2Q
$
(0.65)
38.69
Gogo Inc.
2Q
$
(1.47)
585.11
Merrimack Pharmaceuticals Inc.
2Q
$
(0.75)
164.92
Insmed Inc.
2Q
$
(2.21)
0.62
ANI Pharmaceuticals Inc.
2Q
$
3.63
124.23
FTD Companies Inc.
2Q
$
2.18
1,170.00
Atara Biotherapeutics Inc.
2Q
$
(2.64)
-
Eldorado Resorts Inc.
2Q
$
1.11
900.50
Retrophin Inc.
2Q
$
0.08
131.47
Natera Inc.
2Q
$
(1.69)
214.44
PennTex Midstream Partners LP
2Q
$
0.80
80.90
4 August 2016
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Encore Capital Group Inc.
2Q
$
5.21
1,200.00
Sapiens International Corp. NV
2Q
$
0.52
209.88
Amarin Corporation Plc
2Q
$
(0.49)
121.47
Array Biopharma Inc.
4Q
$
(0.62)
136.45
PGT Inc.
2Q
$
0.58
466.03
PDL BioPharma Inc.
2Q
$
0.54
218.87
Computer Programs and Systems Inc.
2Q
$
3.28
297.15
Hortonworks Inc.
2Q
$
-2.46
191.38
Raptor Pharmaceutical Corp.
2Q
$
-0.99
117.41
EZCORP Inc.
3Q
$
-0.30
781.00
ShoreTel Inc.
4Q
$
0.13
356.14
AtriCure Inc.
2Q
$
-1.19
160.48
Albany Molecular Research Inc.
2Q
$
1.05
522.47
El Pollo Loco Holdings Inc.
2Q
$
0.70
383.94
Haynes International Inc.
3Q
$
0.25
426.05
Dorchester Minerals LP
2Q
$
-
-
Overstock com Inc.
2Q
$
(0.11)
1,717.00
Elizabeth Arden Inc.
4Q
$
(1.40)
967.85
Renewable Energy Group Inc.
2Q
$
0.96
1,450.00
Baldwin & Lyons Inc.
2Q
$
-
-
Progenics Pharmaceuticals Inc.
2Q
$
0.12
68.73
Neuroderm Limited
2Q
$
(1.52)
-
Seres Therapeutics Inc.
2Q
$
(1.87)
22.52
Actua Corp.
2Q
$
(0.37)
157.10
Revance Therapeutics Inc.
2Q
$
(3.53)
0.20
Minerva Neurosciences Inc.
2Q
$
(1.05)
-
Calumet Specialty Products Partners LP
2Q
$
(1.73)
3,250.00
Boingo Wireless Inc.
2Q
$
(0.68)
161.43
Iconix Brand Group Inc.
2Q
$
1.11
370.26
Plug Power Inc.
2Q
$
(0.22)
120.60
Blue Bird Corp.
3Q
$
1.06
967.77
Tucows Inc.
2Q
$
1.41
195.45
Fluidigm Corp.
2Q
$
(2.24)
126.62
Spartan Motors Inc.
2Q
$
0.19
577.04
Pope Resources a Delaware LP
2Q
$
-
-
BioCryst Pharmaceuticals Inc.
2Q
$
(1.06)
19.13
Freshpet Inc.
2Q
$
(0.02)
137.11
4 August 2016
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
NV5 Holdings Inc.
2Q
$
1.68
233.62
Lionbridge Technologies Inc.
2Q
$
0.62
578.82
Reis Inc.
2Q
$
0.55
55.30
Aratana Therapeutics Inc.
2Q
$
(1.02)
2.79
American Science & Engineering Inc.
1Q
$
0.41
106.00
Kratos Defense and Security Solutions Inc.
2Q
$
(0.20)
648.83
Great Lakes Dredge & Dock Corp.
2Q
$
0.06
849.52
Karyopharm Therapeutics Inc.
2Q
$
(3.09)
0.11
ImmunoGen Inc.
4Q
$
(1.54)
69.21
Liquidity Services Inc.
3Q
$
(0.25)
294.22
Syneron Medical Limited
2Q
$
0.27
297.02
Preformed Line Products Co
2Q
$
3.05
-
Esperion Therapeutics Inc.
2Q
$
(3.57)
-
Paratek Pharmaceuticals Inc.
2Q
$
(5.70)
-
Curis Inc.
2Q
$
(0.37)
9.17
Immersion Corp.
2Q
$
(0.15)
61.46
Allied Motion Technologies Inc.
2Q
$
1.30
266.31
Geospace Technologies Corp.
3Q
$
(2.60)
59.15
Noodles & Co
2Q
$
(0.05)
496.94
Control4 Corp.
2Q
$
0.69
199.32
Applied Optoelectronics Inc.
2Q
$
0.42
215.93
PTC Therapeutics Inc.
2Q
$
(4.96)
69.41
American Independence Corp.
2Q
$
-
-
Salem Media Group Inc.
2Q
$
0.46
281.57
Inotek Pharmaceuticals Corp.
2Q
$
(1.62)
-
Power Solutions International Inc.
2Q
$
(0.32)
356.91
Skullcandy Inc.
2Q
$
0.23
283.89
Egalet Corp.
2Q
$
(3.12)
20.36
Trovagene Inc.
2Q
$
(1.26)
1.51
GlycoMimetics Inc.
2Q
$
(1.73)
1.50
IRIDEX Corp.
2Q
$
0.17
47.82
Jamba Inc.
2Q
$
0.18
80.34
Autobytel Inc.
2Q
$
1.40
152.46
Aquinox Pharmaceuticals Inc.
2Q
$
(1.79)
-
Dawson Operating Co
2Q
$
(1.38)
161.00
KVH Industries Inc.
2Q
$
0.68
193.45
Radio One Inc.
2Q
$
-
-
4 August 2016
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Numerex Corp.
2Q
$
(0.32)
71.85
OvaScience Inc.
2Q
$
(3.14)
1.47
EMCORE Corp.
3Q
$
0.17
91.11
Commercial Vehicle Group Inc.
2Q
$
0.15
700.60
Revolution Lighting Technologies Inc.
2Q
$
0.35
186.50
Manitex International Inc.
2Q
$
0.14
393.90
Lantheus Holdings Inc.
2Q
$
0.35
290.80
Internap Corp.
2Q
$
(0.43)
309.92
Genocea Biosciences Inc.
2Q
$
(1.74)
0.21
Dipexium Pharmaceuticals Inc.
2Q
$
(2.18)
-
Clearone Inc.
2Q
$
0.83
56.40
Iteris Inc.
1Q
$
(0.02)
87.50
Corium International Inc.
3Q
$
(1.70)
32.97
Performant Financial Corp.
2Q
$
0.01
134.55
RCI Hospitality Holdings Inc.
3Q
$
1.28
134.60
VIVUS Inc.
2Q
$
(0.82)
59.00
CTI BioPharma Corp.
2Q
$
(0.25)
4.62
Mirati Therapeutics Inc.
2Q
$
(4.55)
-
Covisint Corp.
1Q
$
(0.29)
73.50
Research Frontiers Inc.
2Q
$
(0.13)
3.10
Cumulus Media Inc.
2Q
$
(0.06)
1,140.00
Willdan Group Inc.
2Q
$
0.74
177.07
Jason Industries Inc.
2Q
$
0.19
740.80
Alaska Communications Systems Group Inc.
2Q
$
0.02
228.20
ReWalk Robotics Limited
2Q
$
(2.11)
9.46
Amtech Systems Inc.
3Q
$
(0.73)
112.08
Juniper Pharmaceuticals Inc.
2Q
$
(0.23)
41.60
MRV Communications Inc.
2Q
$
(0.87)
87.90
Cerulean Pharma Inc.
2Q
$
(1.80)
-
GTx Inc.
2Q
$
(0.11)
-
Intermolecular Inc.
2Q
$
(0.12)
56.00
Amyris Inc.
2Q
$
(0.29)
94.34
Tandy Leather Factory Inc.
2Q
$
0.81
-
ID Systems Inc.
2Q
$
0.12
45.78
Dicerna Pharmaceuticals Inc.
2Q
$
(3.34)
1.40
Alliance HealthCare Services Inc.
2Q
$
-
-
TransAct Technologies Inc.
2Q
$
0.49
59.89
4 August 2016
Full Year Consensus
Company Name
Results
Currency
Estimated EPS
Estimated Revenue (Millions)
Diversicare Healthcare Services Inc.
2Q
$
-
-
Perma-Fix Environmental Services
2Q
$
-
-
SMART Technologies Inc.
1Q
$
(0.70)
321.00
Pernix Therapeutics Holdings Inc.
2Q
$
(0.34)
164.67
CafePress Inc.
2Q
$
(0.28)
97.27
Span-America Medical Systems Inc.
3Q
$
-
-
DLH Holdings Corp.
3Q
$
-
-
CAS Medical Systems Inc.
2Q
$
(0.18)
22.91
Orexigen Therapeutics Inc.
2Q
$
(5.61)
40.07
Turtle Beach Corp.
2Q
$
(0.48)
172.74
Fibrocell Science Inc.
2Q
$
(0.46)
0.22
ENGlobal Corp.
2Q
$
-
-
Capstone Turbine Corp.
1Q
$
(0.47)
93.62
Aemetis Inc.
2Q
$
(1.05)
135.00
Top Image Systems Limited
2Q
$
(0.03)
34.09
Caladrius Biosciences Inc.
2Q
$
(8.00)
30.18
Digital Ally Inc.
2Q
$
(0.76)
23.64
Diversified Restaurant Holdings Inc.
2Q
$
0.02
195.00
Cytori Therapeutics Inc.
2Q
$
(1.59)
9.55
Xenith Bankshares Inc.
2Q
$
0.32
32.96
OncoGenex Pharmaceuticals Inc.
2Q
$
(0.90)
4.43
Ikonics Corp.
2Q
$
-
-
BioLife Solutions Inc.
2Q
$
(0.36)
8.61
Parnell Pharmaceuticals Holdings Limited
2Q
$
(1.76)
21.58
Sajan Inc.
2Q
$
0.15
30.58
Rubicon Technology Inc.
2Q
$
(0.92)
22.56
Apricus Biosciences Inc.
2Q
$
(0.18)
5.69
TOR Minerals International Inc.
2Q
$
-
-
Infosonics Corp.
2Q
$
0.22
-
Atossa Genetics Inc.
2Q
$
(0.31)
-
MER Telemanagement Solutions Limited
2Q
$
-
-
Erickson Inc.
2Q
$
(2.65)
242.80
EnteroMedics Inc.
2Q
$
(2.86)
0.70
Note: All Estimates are for Full Year
4 August 2016
Date
Company Name
Dividend Type
Last Day to Trade
Amount
-
BSI Steel Limited
Regular Cash
9-Aug-16
R0.02
-
Brait SE
Stock Dividend
9-Aug-16
0.9%
-
Hudaco Industries Limited
Interim
9-Aug-16
R1.70
-
Prescient Limited
Final
9-Aug-16
R0.02
-
Primeserv Group Limited
Final
9-Aug-16
R0.01
4 August 2016
The business of money: Global asset management and stockbroking
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