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Scotiabank

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markets1 month ago•16 min saved

Scotiabank Sees Upside in Oracle Stock Ahead of Q3 Earnings

Scotiabank’s Patrick Colville argues Oracle’s stock now offers a favorable risk/reward after a recent debt issuance and a planned ~$25B equity offering remove a major overhang, whileOpenAI funding helps de-risk a portion of Oracle’s RPO. The pace of capital spending could accelerate OCI revenue, supporting a faster OCI ramp, even as EPS for the upcoming quarters may come in below consensus due to higher interest costs and the anticipated share issuance; consensus remains bullish with a strong buy stance and higher price targets.

via TipRanks|

#earnings #markets #oci

finance2 years ago•3 min saved

Scotiabank's Q4 Profits Drop Due to Higher Credit Provisions

Bank of Nova Scotia (Scotiabank) reported lower-than-expected profits for the fiscal fourth quarter as it set aside more money than anticipated for potential loan losses. The bank's provisions for credit losses totaled C$1.26 billion ($925 million), higher than the C$870 million analysts had predicted. Scotiabank attributed the higher provisions to economic turmoil in both its Canadian and Latin American operations. The bank also reported lower capital-markets earnings due to slower trading activity. Despite the challenging financial year, CEO Scott Thomson expressed confidence in increased earnings for 2024 driven by productivity initiatives and a more stable rate environment.

via Yahoo Finance|

#credit-provisions #earnings #finance