Weekly Market Movers: Computer Systems on Top, Oil & Gas Refining and Marketing Drops

October 14, 2019

During the week of Oct 7 – 13, ‘Computer Systems’ was the winning industry with a sentiment increase of 49 points. The highest sentiment scores were generated by Qsida Corp and Lenovo Group.

Last Monday, Qsida reported record-high consolidated revenue for both September and Q3 FY19. Consolidated sales reached 15.232 billion NT$ with an 11.78% increase year-on-year. In August the company invested 47.8 million USD to add smart product lines for displays and communication modules to better cope with the U.S – China trade war.

The sentiment score for Lenovo reached 59 points as the company announced a collaboration on joint technology solutions with Intel. The collaboration will aim at using high-performance computing and artificial intelligence to equip scientists at the Flatiron Institute with better solutions to tackle scientific challenges.

Meanwhile, the sentiment score for the ‘Oil & Gas Refining & Marketing’ industry dropped by 70 points, reaching a negative level of -23. Lanka IOC and Bharat Petroleum ranked bottom with a sentiment score of -38 and -33 respectively.

On Monday, Oct 7, the government cleared the way for the fuel retailer Bharat Petroleum Corp Ltd. (BPCL) to go private, causing the stock price to fall by more than 4 per cent. The privatization plan for BPCL might have shaken industry but it will help meet at least one third of the government’s divestment targets. Another sentiment loser within the same category was Lanka IOC as the company slashed petrol prices while keeping diesel prices the same.

Notes:

1 Companies that contributed most to last week’s industry sentiment change.

2  Top trending event related to the respective company.

3  Weekly aggregated company sentiment score (ranging from -100 to +100).

4  Weekly aggregated company attention buzz (the percentage by which the number of news, blogs and tweets about an asset deviates from normal attention).

*Industry name and classification as per Morning Star

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