When faced with such a strong influx from investors, even sell-side analysts have thrown in the towel, upgrading their price targets to chase after the stock surge.
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Shares in Mustek leapt by more than 13% on Monday after it told shareholders that its headline earnings per share would more than double in the six months ended 31 December 2020.
The rand weakened early on Monday after South Africa’s Covid-19 vaccination plan suffered a setback over the weekend as the government put on hold the use of AstraZeneca’s vaccine in its programme.
Adapt IT has formed an independent board committee to assess Huge Group’s unsolicited bid to buy the software company in an all-share deal valuing it at R795-million.
Telecommunications company Huge Group has secured the backing of more than three-quarters of its shareholders for its R795-million pursuit of JSE-listed software services group Adapt IT, it said on Monday.
For the third quarter in a row, Facebook and Apple generated billions upon billions in profits and flexed the power of their dominant businesses. But the party may be ending.
Naspers is looking at ways to reduce its dominance of the JSE, an issue that is hampering efforts to narrow a widening valuation gap between the company and its stake in Chinese Internet giant Tencent.
South Africa’s main share index jumped 2.1% as of 10.07am in Johannesburg, setting a fresh intraday record, as Naspers was lifted by a surge in partly owned Chinese online giant Tencent.
In Christian Klein’s first year as sole CEO at SAP, the company’s shares had their worst performance in 12 years. The pandemic damaged sales. And he lost his co-CEO in a high-profile ouster.
Hong Kong’s equity traders can’t get enough of Tencent Holdings, the $926-billion giant that’s on pace for its biggest ever monthly gain.