Should provide price support....
NEW YORK, Oct 05, 2015 (GLOBE NEWSWIRE via COMTEX) -- Garrison Capital Inc. GARS, (the "Company"), a business development company, today announced that its board of directors has authorized the repurchase of up to $10.0 million of its common stock at prices below the Company's net asset value per share as reported in its most recent financial statements.
I wonder to what extent companies take federal employment numbers to heart. It would seem risky given that the August numbers just got revised down, when it was only about 2 1/2 weeks ago there were reports that FedEx was to add 55,000 seasonal workers this year (up 5,000 y/y reportedly). I'd be surprised if companies didn't have cutoff times for hiring, in order to ramp up.
I could see if investors think subsequent dividends are going to go down, the pps may fall to keep the maintain the nominal yield.
"We think we will increase it, but, gosh, golly, maybe we won't." The financial media is apparently ruling out October (but what if the data indicates a hike at that time?), November there is no meeting, which brings us to December. Doesn't change much here - cash is ready.
Financial drama = market volatility. Why? Because the financial media tends to assume the lack of a presser discounts the possibility of a rate hike.
I got a feeling people will justify the market's reaction no matter what happens. Think we'll see volatility for at least a few months.
Amended version: Rates could be increased an anticipation of an improved economy, according to someone (possibly a Fed member) interviewed (on NPR?) last week. (Hey, I can remember only so much, esp. if it was a week ago!). I was surprised because I was understanding Yellen's Fed as wanting to see various thresholds met rather than sort of extrapolate where the economy is headed.
I believe PSEC would like us to think the spinoffs would provide a good value, and I think they will have a hard time of it if this ER is, or is perceived as, negative.