Diamond News Archives

(IDEX Online) - Sarine Technologies has released a preliminary update for Q3 2019 in which it says it has returned to nominal profitability. 

The company said despite ongoing negative conditions in the mid-stream, revenues for the third quarter will be 20 percent better than those of the second quarter, hitting $14 million. This will allow for a nominal net profit. 

To keep expenses down, Sarine said it had slightly reduced its research and development and general and administrative expenses.

The company also announced it had delivered a record number of Galaxy family inclusion mapping systems, outpacing previous records set in the first and then the second quarters of the year. 

However, the decline in polishing activity because of reduced quantities of rough stones entering the pipeline has resulted in a decrease in the group's revenues from inclusion mapping services by 18 percent. Most of this decrease was seen in Sarine's service centre activities, just over half of which in Israel and Belgium.

The full report of Sarine's financials for Q3 2019 is expected to be released on 10 November 2019....

Investors are losing faith in momentum and pouring billions of dollars into low-volatility stock funds, another sign of increasingly defensive posturing as market confidence deteriorates.

The iShares Edge MSCI USA Momentum exchange-traded fund MTUM, -0.45%^[1]  , a good proxy for the equity momentum trade overall, saw inflows for the first eight months of the year, until a violent reversal over the past month, according to an analysis from Ned Davis Research. In fact, investors pulled so much money out of MTUM — $1.2 billion — in the past month alone that it’s now down $235 million in the year to date.

As a reminder, the momentum trade in the stock market is one that does well in the waning stages of an expansion, when investors aren’t as keen on finding lower-priced value stocks that may turn out profitable later on. “Momentum” implies buying more of the same that others have already bid up^[2].

Related: It’s reflation that’s turning the ‘Great Rotation,’ these analysts say^[3]

At the end of the summer, it looked briefly like the momentum trade was being replaced by a rotation to value stocks, as central bank stimulus seemed to buy more time for investors. But now there’s an extra note of caution in the way exchange-traded fund investors are positioning themselves, noted Ned Davis’ Will Geisdorf.

The iShares Edge MSCI Min Vol USA fund ...

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