capex cut..flavour de jour
analyst Jeremy Kaliel said commenting on its capex cut." recognition of the slower development profile".
That can be said for all companies that cut capex. Slower developement means lower revenue & profits.....& lower dividends down the road still possible; so cut the dividend & capex & save $$$ to up capex & the divy in the future.
The next worse thing to do with cash is cut capex & not the divy.
By the way IMO the worst thing a company can do with cash is buy back shares. It artificially raises the SP, EPS etc. Its like putting lipstick on a pig! It's still a pig. Just cutting th capex is slow death & hinders a quicker recovery.
carlos