Business is good!
Because it works so well and because of that PAY is expanding it use worldwide with taxi drivers signing up in droves.
You don't have to stand outside to hail a cab as the app on your phone will do it for you and process the payment at the same time. Taxi drivers do not have to seek out customers as the app connects customers to them. Great step in productivity for taxi drivers.
Sentiment: Strong Buy
One of my specialties is selling put options. I sell puts on stocks that pay dividends (most of the time) and stocks that have had a decline in price. Most of the time people buy puts at the wrong time and end up losing money. Option price decay is the second most costly event that put option buyers suffer from.
Now selling covered calls is great if you know how to decipher the turn around top in a stock. Buying call options is another losing proposition for most investors
Gap also back filled and then rallied after hours.
Another gap to fill on today's gap up.
If you were to take the time and read the entire article by Business Wire, you would see a true representation of the company.
Even if TAXI repossessed the Medallions, they can lease them out for a return on investment.
So the suggestion that a loss has occurred is just pure speculation and any attempt by posters to do so just shows their ignorance. TAXI has never finance a medallion without a sizable down payment. They always hold the senior position.
NEW YORK--(BUSINESS WIRE)--
Medallion Financial Corp. (Nasdaq: TAXI), a specialty finance company with a leading position servicing the taxicab industry and other niche markets, announced that earnings, or net increase in net assets resulting from operations, were $7,068,000 or $0.29 per diluted common share in the 2015 first quarter, up $302,000 or 4% from $6,766,000 or $0.27 per share in the 2014 first quarter, primarily reflecting higher net interest income, partially offset by higher operating expenses and lower net realized/unrealized gains and noninterest income. Net investment income after income taxes was $4,904,000 or $0.20 per share in the 2015 first quarter, up $1,454,000 or 42% from $3,450,000 or $0.14 per share in the 2014 first quarter.
Medallion Bank, the Company’s unconsolidated wholly-owned portfolio company, had net income of $6,765,000 in the 2015 first quarter, compared to $5,972,000 in the 2014 first quarter, an increase of $793,000 or 13%. As the Company continues to use Medallion Bank as a primary funding source, it refers more loans to Medallion Bank for origination to take advantage of current short term borrowing rates which are at historically low levels, and which are the Company’s least expensive source of funds. Additionally, Medallion Bank’s own consumer lending portfolio has grown 33% over the last year, all with a decrease in delinquencies and loss rates.
Andrew Murstein, President of Medallion Financial, stated, “We are extremely pleased with the 2015 first quarter. Since our IPO nearly 20 years ago, we have continued to diversify the company and find new niches where we strive to be the market leader. We have successfully done that, and so far in 2015, over 90% of our earnings came from outside of the medallion lending area.”
Medallion Financial’s net interest margin was 7.44% in the 2015 first quarter, compared to 5.99% in the comparable 2014 period, an increase of 24%, reflecting higher levels of interest, recoveries, and div
One data center using the new MU chips will replace 100 of the older data centers.
MU and INTC could even build the first state of the art data center with Sandisk.
IBM,s new Watson computer will be obsolete in 2 years.
US defense and control systems would require much less space and could even go mobile.
The possibilities are unlimited.
Sentiment: Strong Buy