Category: Venture Capital

Analysis, BioTech, Commodities, Diversified Tech, Finance, Mergers & Acquisitions, Semiconductors, Services Sector, Software, Tech IPO, Venture Capital

SCA Posts Steady 1Q Results and Sees Early Signs of Improving Construction Market

Swedish consumer goods company Svenska Cellulosa reported first-quarter results that largely tracked our longerterm expectations. SCA’s hygiene operations (personal care and tissue) were once again steady performers while the forest product division lagged as a result of still-weak European demand for paper and solid-wood products. After reviewing the results, we are maintaining our fair value estimate of SEK 136 per share and our no-moat rating. … Continue reading SCA Posts Steady 1Q Results and Sees Early Signs of Improving Construction Market

John MeadyLeave a comment
Gilead Sciences GILD NASDAQ:GILD
Analysis, BioTech, Commodities, Diversified Tech, Finance, Mergers & Acquisitions, Semiconductors, Services Sector, Software, Tech IPO, Venture Capital

Trading Conditions in Europe Remain Soft in TNT’s First Quarter

TNT Express’ first-quarter consolidated revenue fell 4.5% from the same period last year (down 4% excluding foreign exchange). The decline was partly the result of softer Asia Pacific business, including sluggish export activity to Europe. Price competition and a continued mix shift to loweryielding shipments in Europe also contributed. Excluding foreign exchange, revenue was down 1% in the core Europe, Middle East, and Africa region, … Continue reading Trading Conditions in Europe Remain Soft in TNT’s First Quarter

John MeadyLeave a comment
Diversified Tech, Venture Capital

CGX Acquisition on Track for R.R. Donnelley

The R.R. Donnelley pending acquisition of Consolidated Graphics (CGX) recently received regulatory approval and is expected to close in 1Q14. The transaction is still subject to approval of CGX shareholders, who will receive $34.44 in cash and 1.651 shares of RR Donnelley per CGX share plus Donnelley’s assumption of Consolidated Graphics debt of about $98 million for a total estimated purchase price of $746 million, … Continue reading CGX Acquisition on Track for R.R. Donnelley

Mark DeFrance
BioTech, Tech IPO, Venture Capital

Manhattan Associates Post Solid Top Line Numbers

Manhattan Associates reported better than expected 3Q total revenue and EPS. License revenue was $1.7 million lighter than we expected, though the company made up the deficit on services. Investor sentiment was somewhat cautious heading into the print, resulting in the stock up marginally (1%- 3%) in after-hours trading. While MANH executed reasonably well, sluggish license revenue growth and valuation remain a stumbling block to … Continue reading Manhattan Associates Post Solid Top Line Numbers

Kristen Barton
BioTech, Diversified Tech, Finance, Tech IPO, Venture Capital

Echo Logistics Posts 21% Growth in 1Q

In the first quarter, Echo posted 21% revenue growth (9% organic). The increase includes a boost from the October 2013 Sharp Freight acquisition, and partly reflects a 13% rise in shipment volume (less-than-truckload, or LTL, and truckload volume expanded 11% and 18%, respectively). We note that shipment activity slowed relative to the 20% year-over-year gains posted in fourth quarter 2012. Rates to customers on LTL … Continue reading Echo Logistics Posts 21% Growth in 1Q

Jason KnoxLeave a comment
BioTech, Services Sector, Venture Capital

St. Jude Announces Consistent Q3 Results

St. Jude Medical released third-quarter performance that was generally consistent with our expectations, and we have not altered our projections for the full year.  However, we plan to modestly raise our fair value estimate to reflect the reduced share count and cash flow realized since our last update. While St. Jude continues to wrestle with a lackluster implantable cardioverter defibrillator market, we still think the … Continue reading St. Jude Announces Consistent Q3 Results

Ryan HoltzLeave a comment