Category: Diversified Tech

Diversified Tech, Finance, Services Sector

Plains All American Pipeline Announces Plans of Proposed Merger

On Tuesday, Plains All American Pipeline PAA announced the negotiated terms of its proposed merger with its natural gas storage subsidiary, PAA Natural Gas StoragePNG. PNG’s public unitholders are to receive 0.445 common unit of PAA, higher than the proposal of 0.435 common unit announced in August. The amount is equivalent to about $23.27 per PNG unit, or 2.3% higher than before. The increase probably resulted from … Continue reading Plains All American Pipeline Announces Plans of Proposed Merger

Ryan HoltzLeave a comment
Diversified Tech, Finance, Services Sector

Quest Diagnostics Struggles Continue in Q3

Quest Diagnostics followed up its earlier release of disappointing preliminary third-quarter results with more details behind the under performance and pulled back its outlook for the full year. The addition of this information has not materially changed our assumptions and we are holding steady on our $65 fair value estimate. Despite the new management team’s well-publicized plans to improve Quest’s operations and enhance efficiencies, we … Continue reading Quest Diagnostics Struggles Continue in Q3

Chris LewisLeave a comment
Analysis, Diversified Tech, Finance

Baxter Third Quarter Results On Track to Meet Full Year Guidance

Baxter reported third-quarter results that put it on track to meet our $4.68 adjusted EPS estimate for the year, slightly ahead of management guidance of $4.65-$4.67. We’re maintaining our $80 fair value estimate despite branded hemophilia and generic anesthesia and chemotherapy competition that will likely begin to emerge as headwinds in early 2014. We think Baxter’s wide economic moat is stable, built by intangible assets … Continue reading Baxter Third Quarter Results On Track to Meet Full Year Guidance

John MeadyLeave a comment
Analysis, Diversified Tech, Finance

Danaher Posts a Strong Bottom Line; Meets Analysts Expectations in Quarter

Danaher delivered third-quarter earnings of $0.84 per share, a 9% increase versus the prior year. The company reaffirmed its full-year earnings guidance, which was higher than our full-year estimates. We have increased our fair value estimate to $62 per share to reflect better-than-expected performance and cash earned since our last report. The resiliency of Danaher’s earnings and cash flows through this cycle reinforce our narrow … Continue reading Danaher Posts a Strong Bottom Line; Meets Analysts Expectations in Quarter

Colin PettisLeave a comment
Consumer Goods, Diversified Tech, Finance

Nestle Posts Solid Results Despite Slower Growth in Emerging Markets

Nestle’s underlying sales increased 4.4% during the first nine months of fiscal 2013, driven by 3.0% volume growth and 1.4% higher prices. While concerns surrounding slowing growth in some emerging markets have circulated throughout the consumer products industry, Nestle’s performance was again skewed toward developing regions (up 8.8%, and about 45% of consolidated sales), while developed markets remain lackluster (up just 1.1%). The European business … Continue reading Nestle Posts Solid Results Despite Slower Growth in Emerging Markets

Richard AtkinsLeave a comment
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Analysis, Diversified Tech, Finance

Heartland Sees Revenue Declines of 3% in Quarter

Heartland’s third-quarter consolidated top line fell 3% year over year, while revenue before fuel surcharges declined 4%; slightly behind our expected run rate for the full-year 2013. Management indicated that rates improved, but “inconsistent” freight demand, limited driver availability, and the government’s recently revised hours-of-service rules weighed on tractor utilization. We expect these factors to be a common theme reported by most truckload carriers for … Continue reading Heartland Sees Revenue Declines of 3% in Quarter

John MeadyLeave a comment