Category: Commodities

Gilead Sciences GILD NASDAQ:GILD
Analysis, BioTech, Commodities, Diversified Tech, Finance, Global Equity, Mergers & Acquisitions, Semiconductors, Services Sector, Software, software, Tech IPO

Strong Lumber and Panel Prices Buoy Weyerhaeuser’s 1Q; Deferred Harvests Causing Log Prices to Lag

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 of surge we’ve seen in lumber and panel prices, homebuilding … Continue reading Strong Lumber and Panel Prices Buoy Weyerhaeuser’s 1Q; Deferred Harvests Causing Log Prices to Lag

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

International Game Technology Reports Solid 2Q Results; Shares Moderately Undervalued

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 video lottery terminals in Canada, sales to new casinos in … Continue reading International Game Technology Reports Solid 2Q Results; Shares Moderately Undervalued

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

Ingram Micro Sees More IT Spending Across All Regions

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 the top-line. Organic sales added 6% growth. Encouragingly, the company … Continue reading Ingram Micro Sees More IT Spending Across All Regions

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FB Nasdaq FB Facebook
Analysis, BioTech, Commodities, Diversified Tech, Finance, Global Equity, Mergers & Acquisitions, Semiconductors, Services Sector, Software, software, Tech IPO

Discover’s Momentum Continues in 1Q

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 results and transfer coverage to a new analyst. In contrast … Continue reading Discover’s Momentum Continues in 1Q

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

China Telecom Reaps Efficiency Gains in 1Q After 3G Assets Acquisition

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 the end of December. We are maintaining our narrow economic … Continue reading China Telecom Reaps Efficiency Gains in 1Q After 3G Assets Acquisition

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

Investments in Mobile Weighed on First-Quarter Margins for Baidu; Shares Undervalued

Chinese search engine Baidu BIDU posted a 40% increase in first-quarter revenue that met our expectations, although margins came under pressure due to aggressive investments in mobile Internet. We believe these strategic investments behind product innovation, engineering talents, network infrastructure, and marketing campaigns are critical to fortifying Baidu’s competitiveness in the fastgrowing mobile Internet space over the longer term. We applaud management’s decision to accelerate … Continue reading Investments in Mobile Weighed on First-Quarter Margins for Baidu; Shares Undervalued

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