Category: Diversified Tech

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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
Diversified Tech, Finance

YHOO Still a Work in Progress

After reviewing Yahoo’s YHOO second-quarter results,  the firm’s turnaround has yet to materialize and surprising weakness in Yahoo’s display market is cause for concern. Still, given our expectations and the fact that Yahoo’s balance sheet assets and investments in Yahoo Japan and Alibaba Group represent the bulk of the company’s enterprise value, we are sticking with the fair value estimate. The company’s fortunes remain cloudy … Continue reading YHOO Still a Work in Progress

Mark DoerrLeave a comment
Analysis, BioTech, Diversified Tech, Finance, Mergers & Acquisitions, Semiconductors, Services Sector, Software, Tech IPO, Venture Capital

MAT Adapting to Consumers

Mattel MAT continues to adapt to children’s demands, innovating new products tailored to changing tastes. With a number of new franchises coming on line in 2013 (including Ever After High and Max Steel), the company will maintain the wide brand recognition it has captured over numerous decades, keeping its narrow rating intact. While second-quarter results fell short of expectations,  the rest of the year will … Continue reading MAT Adapting to Consumers

Adam KeintzelLeave a comment