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Adani Group-owned cement maker ACC said second-quarter profit fell nearly 91%, citing weaker cement sales, higher fuel costs and an employee severance charge. A one-time tax benefit had boosted earnings a year earlier.
For years, investors have argued about whether the small-cap premium still exists. The original case was easy enough to understand. Smaller companies should produce higher returns because investors are accepting more risk. These businesses usually have less access to capital, fewer revenue sources, thinner trading volu
The S&P 500 slipped 0.01% to close at 7,357.49 as investors rotated out of technology stocks despite a strong earnings report from Micron Technology Inc.