ARM HOLDINGS

The Internet of Everything

Nice 10% pull back this year I feel this is a decent entry level for a MT/LT play.. One of the big themes for this year i am seeing in numerous places is The Internet of Everything Google who are now undoubted leaders in internet Innovation and are making a big push in this area…

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SCHNEIDER ELECTRIC

Long Idea

The deal with ISYS ends tonight, and the market is generally rewarding acquirors – as seen in MCK (down post CLS1 break) and AMEC (up post the preconditional bid for FWLT) Recent headlines such as “Sick Man Of Europe” is misleading in terms of construction. See chart below. Shows construction PMI bottoming after q1 2013…

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UPDATE: UK SUPERMARKETS

SBRY/TSCO/MRW

I am closing the Sainsburys +4.20% ab/4.80% rel and Marks & Spencer for a small profit. Tesco is one I would be happy to run as I feel they are really stretching themselves in terms of products. They seem to be doing a bit of everything from tablets to Insurance and I can’t see them…

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UK SUPERMARKETS

SBRY/TSCO/MRW

Short a basket of supermarkets for January SBRY sales on 8th Jan could well be the trigger Some big names are also jumping into this trade according to The Times Marshall Wace in Debenhams and Black Rock took a big short position in Marks & Spencer early in December. One or more of the UK…

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2014 Ideas

Taper/Macro/Europe/CBK/ATOS/ABB/RIO/BAE/PHARMA/BSY/KPN/KBC

Taper is on the tape finally. Taken well and it should be. Given us the clarity we needed. An eventual exit is in sight. Now hopefully it is back down to the fundamentals. Inflows into Europe will continue and i believe the macro improves and Europe out performs US In Europe it does not take…

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BAE

Weakness is a chance to buy for 2014

BAE..weakness a chance to buy for 2014 UAE Rules Out Eurofighter Deal is clearly -ve for sentiment although not sure it was in many peoples numbers Still in negotiation with the Saudis on the price inflation agreement on ongoing contract. Still very likely that gets done in the next few months Looks more like a…

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ATOS

Undervalued unloved... One for 2014

Compelling three-year plan starting 2014 Balance sheet improvements with early redemption of convertible and settlement of the Dutch Pensions Recently won IT services provision contract for the Olympic Games until 2024 The big catalyst for 2014 is the World Wide IPO Positive X-Read +ve from the Accenture call “We’re seeing signs of momentum across our…

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KPN

Time to buy

Its cheap on various metrics and too cheap vs the sector 4.5x EBITDA vs the sector on more than 5 Potential -ve catalust out the way yesterday – the EC are keeping control of the e-plus/O2D decision The main bear case has been tele2 being a disruptive entrant into the dutch market They cant even…

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COMMERZBANK

Time to buy for the long-term

I don’t really understand why people are willing to buy distressed banks in Europe with weak economies behind them but have no interest in one with a world  power behind it… Leveraged into German domestic demand which from todays PMI shows that domestic demand might take over from exports as a driver. It is one…

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EDENRED

Looking risky into tomorrow's Investor day

Investor day tomorrow and most analyst are bullish on them.. (11 buys 8 holds and only 4 sells) Well worth keeping an eye on the headlines coming out of the Investor day.. It is a good company but ST i feel they need to accelerate earnings given how it has re rated and any form…

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