Category: Diversified Tech

Analysis, Diversified Tech, Finance, Financial, Popular, Services Sector

ASM Lithography Meet Street Expectations

ASM Lithography reported third-quarter results that were within the range of our expectations. We are maintaining our fair value estimate and moat rating. For the quarter, revenue was EUR 1.32 billion, up 11% sequentially, and an increase from sales of EUR 1.23 billion in the year-ago quarter. Sales benefited from improved business conditions and a full quarter of contribution from ASML’s recent acquisition of lithography … Continue reading ASM Lithography Meet Street Expectations

John MeadyLeave a comment
Analysis, Diversified Tech, Finance, Financial

Linear Provides Disappointing Guidance Despite Solid Results

Linear Technology reported decent fiscal first-quarter earnings but gave investors a disappointing forecast for the December quarter, as a seasonal dip in chip demand and the mere threat of a looming U.S. debt ceiling crisis may weigh on upcoming chip orders. We will maintain our fair value estimate and wide moat rating for the firm. Linear’s analog chip sales were $340 million for the September … Continue reading Linear Provides Disappointing Guidance Despite Solid Results

John BellichLeave a comment
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Analysis, Consumer Goods, Diversified Tech, Finance, Financial, Popular, Services Sector

Buckeye Announces Acquisition of Hess’ Terminal Assets

Last week, Buckeye announced it has agreed to acquire Hess’ terminal assets spanning the East Coast and Caribbean for $850 million. The addition of 39 million barrels of storage increases Buckeye’s storage capacity by more than 50% to 112 million barrels and complements the partnership’s existing wide-moat footprint very well, in our view. In particular, Buckeye will gain 15 million barrels of capacity in the … Continue reading Buckeye Announces Acquisition of Hess’ Terminal Assets

Mark DoerrLeave a comment
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Consumer Goods, Diversified Tech, Finance

Snap-on Narrowly Beats Consensus Estimates

Snap-on reported third-quarter 2013 earnings per share of $1.43, nearly in line with the $1.42 EPS Street consensus estimate. Once again, the company was able to expand consolidated operating margin, which was 14.8% versus 13.5% last year, despite challenging operating conditions from anemic European economic conditions and reduced defense spending in the U.S. Our $105 fair value estimate remains unchanged. This 3-star rated stock is … Continue reading Snap-on Narrowly Beats Consensus Estimates

John MeadyLeave a comment
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Commodities, Diversified Tech, Finance

Noble Posts Adequate Quarterly Results

Noble reported solid third-quarter results. Total revenue increased slightly to $1.08 billion from $1.02 billion in the prior quarter, thanks mainly to the commencement of operations for two new ultra-deep-water rigs. The company also benefited from lower operational downtime, which fell to 4.6% from 5.2% in the prior quarter, essentially flat operating costs, and fewer shipyard days. Accordingly, Noble’s contract drilling margin improved to 53.1% … Continue reading Noble Posts Adequate Quarterly Results

John BellichLeave a comment
Analysis, BioTech, Diversified Tech, Finance, Global Equity, Mergers & Acquisitions, Semiconductors, Services Sector, Software, Tech IPO, Venture Capital

Nokia Earnings Show Some Bright Spots

Nokia’s second-quarter earnings report had a couple of bright spots but was mostly concerning as the firm’s mobile phone business continues to languish.  The favorable view of Nokia’s pending acquisition of the remainder of its Nokia Siemens Networks (NSN) joint venture is mostly offset by a rapidly deteriorating basic phone market and only modest Windows Lumia phone adoption to date. Nokia sold 7.4 million Lumia … Continue reading Nokia Earnings Show Some Bright Spots

John BellichLeave a comment