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Amerant Bancorp Inc. 2026 Q2 – Results – Earnings Call Presentation (NYSE:AMTB) 2026-08-01
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Chip stocks are on track for their worst monthly performance in nearly two decades.
The Philadelphia Semiconductor Index, or SOX, was up 2% on Friday, extending Thursday’s tech-dominated relief rally.
However, Friday’s gains were far from enough to offset what’s been a tough month for the semi group. In fact, the SOX is on track for its worst monthly performance since 2008, according to Dow Jones Market Data.
Therefore, immediate rallies would be interpreted as corrective in nature until the medium-term technical parameters turn positive. The recent upmove in the Sensex since the low of 12514 pts has been very sharp. The upside gap of July 23, 2008 had created a bullish ���Island Reversal Gap��� on the daily charts between 14510 pts and 14519 pts.
Normally, the implications of this on the medium-term outlook would be very positive, especially since the ���Island��� comprised of 22 trading sessions. When a stock indicates an uptrend, trades above the gap which occurs, then gaps back down and trades below the initial price, an island reversal has occurred.
However, the Sensex has since run into a strong resistance zone between 15026 pts and 15390 pts. The monthly mid-point of June 2008 is at 15026 pts. The 50% retracement level of the fall from the May 2008 peak (17735 pts) is at 15124 pts. The positive implications of the bullish ���Island Reversal Gap��� would thus get negated if the Sensex has a daily close below 14104 pts (the close on July 22, 2008). The Sensex is then expected to have an initial downside of 13513 pts, the 61.8% Fibonacci retracement level of the recent rise from 12514 pts to 15130 pts.
If the bearish ���Island reversal gap��� of 14484-14568 pts is immediately filled and the Sensex manages to decisively overhaul the resistances between 15130 pts and 15390 pts, the ongoing upmove would continue. The Sensex may then test higher levels between 16618 pts and 16860 pts.
The 78.6% Fibonacci retracement level of the fall from the May 2008 peak is at 16618 pts while 16860 pts is the 50% retracement level of the entire fall from the January 2008 peak. Hence, one would await further confirmation before turning positive on the medium-term outlook.
(The author is VP of technical research at Darashaw)
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Jardine Cycle & Carriage Limited 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:JCYGY) 2026-08-01
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Capital One says it closed Trump Organization’s accounts after anti-money laundering probe
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
Business
Fluence Corporation Limited 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:EMFGF) 2026-08-01
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
Business
Essex Property Trust, Inc. 2026 Q2 – Results – Earnings Call Presentation (NYSE:ESS) 2026-08-01
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How will adjustment in Japanese stocks impact the USD/JPY?
Frederic Lissalde
Being broadcast. I hereby declare open the combined ordinary and extraordinary general meeting of Soitec. This meeting is convened to go over the agenda set out in the notice of meeting, which was sent to registered shareholders and also published in the official bulletin.. As the Chairman of the Board of Directors, I am chairing this general meeting, and I would now appoint the meeting’s officers. I hereby call upon the 2 members of the meeting which hold the largest number of votes, and they have agreed to fulfill this role to act as scrutineers.
So the company Bpifrance Participations, hereby represented by Mr. Samuel Dalens and the company called CEA Investissement represented by Ms. Julie Galland and Samuel Dalens and Julie Galland are seated in front of me here in the first row. The Chair and the scrutineers form the Presiding Committee of the meeting, and they appoint a Secretary, Emmanuelle Bely, who is the Secretary General of Soitec and also the Secretary to the Board of Directors and who is standing to my left. We now have the officers in place. Also present beside me are Laurent Remont, our new CEO since April 2026, who is attending his first Soitec Annual General Meeting; and Albin Jacquemont, our Chief Financial Officer.
The statutory auditors are also present in this room. One is Benjamin Malherbe for Ernst & Young Audit and Laurent Genin for KPMG. And we also have with us the directors who were able to attend those who could make themselves available. And I would like to thank them
Accounting rules, called AS-11 provisions, make it mandatory for companies to make mark-to-market provisions in their profit & loss accounts for any changes in foreign currency loans. The worst hit have been those companies that predominantly serve the domestic market and opted for foreign currency loans to finance their growth plans.
According to an analysis by ETIG, the profitability of companies will be dented by mark to market (MTM) losses. Tata Steel may report a forex loss of around Rs 344 crore, whereas Tata Motors could take a hit of Rs 311 crore. Tata Chemicals, which took a foreign currency loan of $475 million to fund its overseas acquisitions, is estimated to report a forex loss of Rs 187 crore. Ranbaxy, JSW Steel and Firstsource Solutions will lose Rs 100 crore and Rs 400 crore each. The list of companies is not exhaustive as an estimated dozen companies raised forex debt last year.
Thankfully, this is only an accounting entry and does not affect the cash flows. However, it is likely to be read negatively by the stock market. Market participants actively track companies��� net profits and any adverse development does affect valuations. The rupee had positively impacted most of the above companies till last year, but it has depreciated by over 9% in the quarter ended September 2008.
When the rupee depreciates, the value of foreign currency liability denominated in rupee terms increases and vice versa. According to AS-11 stipulations, an increase in liability should be reflected in the quarterly profit and loss statement and will translate into lower corporate profits. Most companies are focused on the domestic market and are therefore unlikely to benefit from a weakening rupee.
The falling rupee will severely affect the small companies, whereas the big ones will be impacted only moderately. Firstsource Solutions may report a net loss, while Tata Steel might see a 100 basis points decline in net profit margin on account of forex losses. To put things in perspective, most companies will experience a 10-50% hit on their operating profits.
Companies such as Reliance Communication, Reliance Industries and Bharti Airtel follow schedule-VI of the Companies Act, instead of AS-11 and are therefore unlikely to see an impact on their quarterly profit and loss statements. The operating profits of the two Reliance companies would have been lower by around Rs 800-900 crore if they had subscribed to the AS11 norms.
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