SCDRF.OB: Standard Chartered PLC Market Currents

Quote & Headlines Market Currents StockTalk

Sunday, May 12, 5:13 PM Muddy Waters is short Standard Chartered (SCBFF.PK, SCDRF.OB), saying the market "misunderstands the amount of risk that's presently in the book." MW's Carson Block cites Standard Chartered's $1B load to Samin Tan, chairman of Bumi (PBMRF.PK), the coal company at the center of a dispute, and a $30M loan to Far Eastern Energy (FEEC.PK), with a market cap of $42M, as red flags. He says shorting Standard Chartered is "a very nice way to play the eventuality of the China unwind." Comment! [Quick Ideas, Financials]
Wednesday, February 27, 9:57 AM Stanley Black & Decker (SWK +1.1%) completes its $850M acquisition of Hong Kong based Infastech from CVC and Standard Chartered. Infastech is one of the largest Asia-based manufacturers of mechanical fasteners and the deal will help SWK increase its revenues from emerging markets to 16% of total sales. SWK also expects the acquisition to add $0.20 to its adjusted EPS in 2013 and $0.40 in 2015. (PR) Comment! [M&A, Earnings]
Thursday, December 6, 2012, 2:59 AM Standard Chartered (SCBFF.PK) expects to pay $330M in fines to settle accusations that its dealings with Iranian customers breached U.S. sanctions. The penalty, which the U.K. bank is negotiating with multiple authorities, would add to the $340M that StanChart has agreed to pay to the New York Department of Financial Services. Meanwhile, the company forecast FY revenue and pretax profit growth of under 10%. (PR) 1 Comment [Financials, Top Stories]

SCDRF.OB Standard Chartered PLC