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

BSkyB Reports Solid Fiscal Q3 Results; Maintaining Our Fair Value Estimate

British Sky Broadcasting BSYBY , known as BSkyB, reported solid fiscal third-quarter results. Revenue increased 7.8% year over year, bringing the nine-month result up 6%, spot on with our full-year projection. We are maintaining our fair value estimate and moat rating. The firm’s growth is being driven primarily by subscriber additions, particularly in its communication business where its broadband base improved 13.6% to 4.4 million, … Continue reading BSkyB Reports Solid Fiscal Q3 Results; Maintaining Our Fair Value Estimate

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

Siemens Delivers Second-Quarter Results; Orders Improve on Large Project Wins

Siemens SI delivered mixed results in the second quarter as the company managed to hold income flat in light of declining revenue, but strong order growth offers some promise for the future. As is the case with typical quarters with the company, Siemens had several impairment and restructuring related charges in the second quarter that muted operating earnings, but free cash flow from operations increased … Continue reading Siemens Delivers Second-Quarter Results; Orders Improve on Large Project Wins

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

Infineon Delivers Better-than-Expected Second Quarter Results

Infineon Technologies IFNNY reported strong secondquarter results that were moderately ahead of our expectations, and we are maintaining our $8 fair value estimate and no-moat rating of the firm. Infineon sales grew 8% sequentially during the second quarter to EUR 918 million, largely driven by 12% sales growth to automotive customers. Infineon is optimistic that stronger-than-expected automotive sales could lead increased sales to car makers … Continue reading Infineon Delivers Better-than-Expected Second Quarter Results

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

Strong First-Quarter Results at Swiss Re

Swiss Re SREN had a very profitable first quarter, led by a 53% increase in its Property and Casualty segment on a year-over-year basis. The combined ratio in this segment was 70%, reflecting a dearth of catastrophe events and favorable reserve development which reduced the ratio by 8 points. Life and Health reinsurance net income improved slightly from last year while Corporate Solutions was up … Continue reading Strong First-Quarter Results at Swiss Re

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

Swisscom Reports Light 1Q Results, but We’re Maintaining Our Fair Value Estimate

Swisscom SCMN reported first-quarter results that were a bit light, but we are maintaining our fair value estimate and moat rating for now. The firm’s revenue declined 2.4% year over year versus our full-year projection of a decline of 0.6%. Swisscom showed good subscriber growth, but weak average revenue per user, or ARPU. In Switzerland, the firm’s broadband base improved 4.1% to 1.75 million, its … Continue reading Swisscom Reports Light 1Q Results, but We’re Maintaining Our Fair Value Estimate

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

RenaissanceRe Tops All Earnings Estimates in the First Quarter

Excess capacity and a drop in growth for property-casualty reinsurance didn’t stop RenaissanceRe RNR from having a very profitable first quarter. RenaissanceRe reported a 22.5% annualized return on equity driven by a 36.2% combined ratio, despite a market where a rise in CAT bonds and less ceded risk from primary insurers is cutting into demand. Of course, it didn’t hurt that the first quarter was … Continue reading RenaissanceRe Tops All Earnings Estimates in the First Quarter

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