MidEast Stocks Mostly Drift Lower Ahead of Holiday; Qatar Falls on Credit Downgrade

MidEast Stocks Mostly Drift Lower Ahead of Holiday; Qatar Falls on Credit Downgrade

Middle East shares mostly slid in thin volume ahead of the Eid al-Adha holidays beginning this week. Qatar slumped after Fitch downgraded the country’s credit rating. Fitch lowered Qatar by one notch to AA-minus with a negative outlook, citing the impact of sanctions imposed by other Arab states. In company news, Amiantit said it expected a capital gain of 50 million-60 million riyals ($13.3 million-$16.0 million) and positive cash flow […]

Read More ˃
Canaccord Genuity Cuts The Finish Line PT to $8 from $14; Maintains Hold Rating

Canaccord Genuity Cuts The Finish Line PT to $8 from $14; Maintains Hold Rating

Canaccord Genuity lowered its price target on The Finish Line (FINL) to $8 from $14, reiterating its hold rating after the company pre-announced weak FQ2 results and lowered guidance for the balance of the year. The company now expects FQ2 EPS to be $0.08-$0.12 (vs previous $0.36 estimate and consensus at $0.37) based on both a comp decline of 4.6% and gross margin pressure. The broker estimates an EPS of […]

Read More ˃