A slew of companies that may report wose than expected results, once we get over the 'feel-good' Obama victory...
Shorting candidate #2:
0122 GMT [Dow Jones] STOCK CALL: Deutsche Bank intiates Parkway Holdings (P27.SG) at Sell, sets S$1.00 target price. Broker warns healthcare firm exposed to economic slowdown; "contrary to belief, Parkway's earnings have not been defensive in a recession, in the last two recessions, the financial crisis in 1998 and dot-com bubble in 2001, the company's revenue declined." Says downside risks to earnings are compounded by leveraged balance sheet, could pose financing risks. Adds shares trade at premium to peers, but company actually deserves lower PE ratio due to its declining earnings profile. Shares +6.4% at S$1.83. (KIG)
Resistance: 2.09 (support during bull run).
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