Subprime lender Goeasy Ltd. , which surprised investors weeks ago with a surge of bad debts in its vehicle financing business, said it expects loan writeoffs to remain elevated for a while before getting better later in the year. The Ontario-based firm reported a fourth-quarter loss of C$8.93 per share on an adjusted basis, more than the C$4.28 loss expected by analysts in a Bloomberg survey. Goea...
Subprime lender Goeasy Ltd. , which surprised investors weeks ago with a surge of bad debts in its vehicle financing business, said it expects loan writeoffs to remain elevated for a while before getting better later in the year. The Ontario-based firm reported a fourth-quarter loss of C$8.93 per share on an adjusted basis, more than the C$4.28 loss expected by analysts in a Bloomberg survey. Goeasy’s net chargeoff rate during the quarter was almost 24% of gross consumer loans receivable on an annualized basis. That will ease to a range of 17.5% to 18.5% for the first quarter of 2026. “Improvement is expected as the year progresses” and the rate should be in the mid-teens for the full year, the company said in a statement. The firm didn’t give earnings guidance. “Our belief in Goeasy’s long-term opportunity is unchanged,” Chief Executive Officer Patrick Ens said in the statement. The company cut 9% of staff to save money and is reducing lending for autos and powersports vehicles through its Lendcare Holdings unit, which provides consumer financing through the dealers of those products. Goeasy suspended its dividend and withdrew its financial outlook on March 10 after disclosing it would record C$331 million ($238 million) in net chargeoffs for the fourth quarter, most of which were tied to Lendcare. The shares fell 57% that day, their biggest drop since 1993. The hefty losses put Goeasy out of compliance with its leverage requirements, but lenders agreed to waive certain financial covenants and change the terms of its main credit facilities. Goeasy was the subject of a short-seller report in September which alleged the lender was putting off recognizing rising delinquencies and loan losses — claims it denied at the time. After Goeasy’s disclosures this month, author Victor Bonilla of Jehoshaphat Research praised the company for coming clean about its balance-sheet issues and working to reestablish credibility.
Indonesia will give some listed firms up to three years to raise their public float to at least 15% as part of reforms to boost transparency. Companies with a market value of under 5 trillion rupiah ($295 million) will have to meet the minimum level of shares available for public trading by March 31, 2029, the Indonesia Stock Exchange said late Tuesday. Firms worth more than 5 trillion rupiah with...
Indonesia will give some listed firms up to three years to raise their public float to at least 15% as part of reforms to boost transparency. Companies with a market value of under 5 trillion rupiah ($295 million) will have to meet the minimum level of shares available for public trading by March 31, 2029, the Indonesia Stock Exchange said late Tuesday. Firms worth more than 5 trillion rupiah with a free float below 12.5% must raise it to 12.5% by March 31, 2027 and then 15% a year later, it added. Firms with existing free float levels between 12.5% to 15% must meet reach 15% by March 31, 2027. The timeline and rules cap months of consultations as Indonesian officials try to avert a possible MSCI Inc. market downgrade. The index compiler had raised concerns over investability earlier this year, a move that triggered a sharp market selloff . The bourse has also raised the minimum float for initial public offerings to range from 15% to 25%, depending on the company’s market value, compared to the current 10% to 20% range. Indonesia to Mandate 15% Free Float for Companies in Draft Rules Indonesia Faces Record Share Sales to Meet Free-Float Goal (2) Indonesian Stocks, Rupiah Slump as Iran Conflict Escalates
Fintel reports that on March 30, 2026, Compass Point upgraded their outlook for SLM Corporation - Preferred Stock (NasdaqGS:SLMBP) from Sell to Neutral. Analyst Price Forecast Suggests 66.11% Upside
Fintel reports that on March 30, 2026, Compass Point upgraded their outlook for SLM Corporation - Preferred Stock (NasdaqGS:SLMBP) from Sell to Neutral. Analyst Price Forecast Suggests 66.11% Upside
As conflict in the Middle East has intensified in recent months, investors have made a big leap back into oil stocks -- namely, large, well-known integrated oil company stocks like Chevron and ExxonMobil . Yet while these stocks are benefiting from recent tensions and their impact on energy prices, it's not necessarily upstream or downstream energy stocks that stand to benefit the most from this t...
As conflict in the Middle East has intensified in recent months, investors have made a big leap back into oil stocks -- namely, large, well-known integrated oil company stocks like Chevron and ExxonMobil . Yet while these stocks are benefiting from recent tensions and their impact on energy prices, it's not necessarily upstream or downstream energy stocks that stand to benefit the most from this trend, but a certain type of midstream energy stock. No, I'm not talking about pipeline stocks , the most common of midstream energy plays. Pipeline operators typically have steady revenue from long-term contracts. Pipeline stocks benefit some from rising prices, but their main selling point is their ability to deliver strong, steady returns in both energy bull and bear markets. Rather, the midstream play I'm talking about today is an oil tanker stock. In fact, the largest oil tanker operator out there is Frontline (NYSE: FRO) . I'll explain why this stock offers a more direct opportunity for everyday investors to profit from the latest chaos. Continue reading
Shares of fabless chip and software maker Broadcom (NASDAQ:AVGO) jumped 2.8% in the afternoon session after Nvidia announced a strategic partnership and a $2 billion investment in fellow chipmaker Marvell Technology.
Shares of fabless chip and software maker Broadcom (NASDAQ:AVGO) jumped 2.8% in the afternoon session after Nvidia announced a strategic partnership and a $2 billion investment in fellow chipmaker Marvell Technology.