During the week from Feb 03 – 09, the sentiment for ‘Independent Power Producers’ in the Utilities sector jumped 36 points with Adani Green Energy Ltd. and Algonquin Power & Utilities Corp. leading the category.
Top Industry: Utilities – Independent Power Producers
Adani Green Energy and TOTAL have agreed to invest USD 510 million to acquire a 50% stake in a joint venture that supports the growing demand for sustainable energy in India. Adani’s Group Chairman stated that the investment is an important step towards building the world’s largest solar power company by 2025.
At the same time, analysts forecast that Algonquin Power & Utilities Corp will post $0.18 earnings per share for the current quarter, according to Zacks Investment Research. Algonquin Power & Utilities posted earnings of $0.14 per share during the same quarter last year. The business is scheduled to announce its next earnings report after the market closes on Thursday, February 27th.
Flop Industry: Broadcasters
Meanwhile, the sentiment for the broadcasting industry dropped by 32 points. News Corp and Mediaset SpA ranked bottom with a sentiment score of -22 and -9 respectively.
News Corp reported its earnings results last Thursday. The company’s profit totaled $85 million, or $0.14 per share. This compares with $95 million, or $0.16 per share, in last year’s second quarter.The revenue fell 6% reaching USD 2.48 billion.
Mediaset SpA was looking to merge its Italian and Spanish broadcasting units under a Dutch holding company, MediaforEurope (MFE), to strengthen its position in the European market. But its major shareholder Vivendi, led by French billionaire Vincent Bollore, is fighting the project in courts across Europe, saying the governance structure of the new entity would strengthen the Berlusconis’ grip on the company, as Yahoo Finance reported.
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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