Two earnings statements yesterday really caught his eye: indicating growth in the industrial sector in the US is very strong: First, Steel dynamics, they said: “Third quarter 2014 shipments increased across all of the company’s operating platforms, as compared to the sequential quarter… operating income from steel operations increased approximately 37 percent, based on improved…
Closing SHORT +11.33% One we will re visit but Swiss watch data for September was fine. Time for a technical bounce MT still see them as a company in denial. The ongoing threat of the smart watch and that they are no longer an organic growth company will continue to weigh Still loved by…
Faurecia confirmed its guidance for 2014 as it reported a 6.5% year-on-year rise in revenue in the third quarter Faurecia recorded rises in product sales in all regions where it operates, with particularly strong growth in Asia. The car parts maker continues to expect an increase in revenue on a like-for-like basis of between 2%…
The US market’s PE rerating is probably complete. The relentless march lower in credit default premiums is waning. Long duration US corporate bonds yields peaked at around 9% in 2009 – equivalent to an equity PE ratio of 11. They then began a very steady decline to around 4.5% by 2013 – equivalent to a…
It has been a frustrating year for equity managers, especially those in Europe. The reason it feels so much harder to make good returns is because the market environment has subtly changed. The two main tailwinds for the market: (1) falling interest rates and (2) shrinking credit default premiums, are slowly ebbing. In January 2010,…
Buy – Upgraded to Buy at UBS We believe the French Ad trends and TF1s mkt share will improve gradually this year. Content is king and this is where they dominate French TV which is all supportive. However the real big catalyst for us is the massive cash balance they have which will lead to…
Peugeot +21.7% on the year. Still Bearish??? *PEUGEOT CITROEN SEPT NEW CAR REGISTRATIONS RISE 17% *FRENCH SEPT NEW CAR, LIGHT-VEHICLE REGISTRATIONS RISE 7.6% Peugeot brand CEO was on CNBC earlier, talking up China saying they are growing 4 times more than competitors He was also positive on Europe as they are taking market share…
European Autos down, Ford cutting 2014. Buying opportunity UG FP: European autos down on back of Ford cutting 2014 pre-tax profit guidance to $6bn (vs 7-8bn prev). Citing South America, a $300m loss in Russia and $1bn in unexpected recall costs, mainly in North America. ML talking down Peugeot as part of that. …
Now is the time. Buy into the close As the reweight takes place at the close today and the selling pressure winds up now is the time to buy a few This is a technical trade ST but more potentially positive news today as CRH are Exploring bid for all assets Holcim/Lafarge. value €5-7bn(Rtrs)…
A line drawn under the China Saga Been a serial underperformer in the sector for good reasons The announcement to pay GBP297m in fines to end the China corruption probe is a major positive, as there was is no ban on China business This draws a line under the whole China saga that has…