Positive momentum in the long-suffering wood products business led improved results in Weyerhaeuser’s WY first quarter, as the segment benefited from improved housing demand and a cautious lumber industry that hasn’t fully recalibrated supply to meet the new demand reality. Results were more tepid in Weyerhaeuser’s other segments, as log prices haven’t enjoyed the kind…
Facebook Inc (NASDAQ FB) is likely rekindling privacy worries with its new plans to study users’ shopping habits across multiple devices. The social network says it will tell advertisers on what device shoppers first viewed the items they bought and then which device they were using when they actually purchased the item. Facebook has revealed…
International Game Technology IGT reported solid secondquarter results in line with our expectations. Revenue increased 11% to $600 million (compared with consensus of $572 million) and EBITDA increased 6% to $247 million (consensus of $200 million). The increase in revenue was driven by a 16% rise in product sales, primarily due to strong sales of…
We are maintaining our fair value estimate and economic moat rating for Ingram Micro IM after the company reported solid first-quarter results that indicated consumers across the globe are spending more on IT. Ingram Micro’s sales grew 19% year-over-year to $10.6 billion, with the 2012 BrightPoints and Aptec acquisitions adding $1.85 billion, or 13%, to…
Discover Financial Service DFS reported net income of $673 million, or $1.33 per diluted share, for the first quarter of 2013. The narrow-moat company continued to generate strong momentum across business lines, increasing book value more than 5% during the quarter, and we may moderately increase our fair value estimate as we incorporate the quarter’s…
Carrier China Telecom CHA increased first-quarter revenue 15% year over year to CNY 78 billion ($12.6 billion) thanks to strong mobile service revenue and handset sales. EBITDA grew at a much faster pace of 36%, as the firm benefited from scale efficiencies on its 3G network after it acquired the assets from its parent at…
