Category: Commodities

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

Soft Third-Quarter Volumes for Asciano, Except for Coal and Cars

Third-quarter fiscal 2013 volumes fell in Pacific National (PN) Rail and terminals & logistics, but grew in both PN Coal and bulk & automotive port services. PN Rail’s intermodal business continued to experience weak volumes with the key volume metric, net tonne kilometres, down 3.4% reflecting weaker economic conditions in eastern Australia. Fortunately, volumes in PN Rail’s bulk business improved following increases in the export … Continue reading Soft Third-Quarter Volumes for Asciano, Except for Coal and Cars

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

Mercury Posts Solid 1Q in Absence of Catastrophes

Mercury General MCY released a generally strong firstquarter report in the absence of large catastrophe or other claims losses. Operating income–which excludes realized investment gains and losses–was down 3.3% to $37.8 million, or $0.69 per share. The drop was primarily caused by a restructuring charge the firm took in order to streamline operations. While the results were stronger than is typical of the firm in … Continue reading Mercury Posts Solid 1Q in Absence of Catastrophes

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

Wide-Moat OMA Posts Strong Start for 2013 but Offers Tepid Full-Year Guidance

Wide-moat Grupo Aeroportuario del Centro Norte (OMA) OMAB reported 4.6% year-over-year growth in passenger traffic during the first quarter of 2013, along with solid improvement in operating margins to 43.1% from 41.8%. Total sales improved 10.7% and was led by a 20.9% increase in nonaeronautical revenue, the fourth quarter of acceleration. The strong nonaeronautical sales result from OMA’s diversification activities over the last several years, … Continue reading Wide-Moat OMA Posts Strong Start for 2013 but Offers Tepid Full-Year Guidance

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