Will 2016 End Tragically for Toshiba?

December 27, 2016

2016 is about to come to a close, but it has refused to give Toshiba a good ending as the company sees its shares traded down 10.4 percent on the opening of the Nikkei 225. To find out why the company’s shares are tumbling and how Sentifi financial crowd is reacting to the news, stick with Sentifi.

sentifi top attention december 27

Toshiba: Bad news all around

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The 10.4 percent loss pared an earlier loss of as much as 16.3 percent as investors are expecting Toshiba to report a huge special loss from its nuclear power operations in the U.S. But that’s not it. The company is also expected to record a $850 million one-time loss of the fiscal year ending March 2017, with some news sources reporting that the loss could be five times as much.

Jawbone: Fitbit drops lawsuit

Jawbone and Fitbit had been at each other, throwing claims of theft of trade secrets and infringement of patents. Jawbone had filed a few lawsuits against Fitbit for illegal access to company’s secrets. In return, Fitbit sued Jawbone for infringement of patents, but it has decided to drop it due to the fact Jawbone is facing financial problems.

SBI Holdings: Intends to form a joint venture 

Financial services and asset management company SBI Holdings has signed a non-binding letter of intent to establish a joint venture with clinical-stage ophthalmology company Kubota Pharmaceutical Holdings. The venture will organize and manage special purpose entities to finance the development of ophthalmic drugs and devices.

Navistar International: Performs better this year than the last

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U.S.-based brand commercial truck manufacturer Navistar recorded better performance in 2016 compare to 2015. In essence, Q4 net loss was $34 million compared to Q4 2015 net loss of $50 million. The quarterly revenue arrived at $2.1 billion. According to CEO Troy A. Clarke, this is the fourth consecutive year of adjusted EBITDA improvement.

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