Category: Global Equity

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Analysis, Finance, Financial, Global Equity, Services Sector

Crown Holdings Reports Concerning Quarterly Results

Crown Holdings reported third-quarter results that were broadly in line with our expectations, but we have increasing concerns about the profit potential of Crown’s operations in Asia-Pacific. For example, through the first nine months of the year, Asia-Pacific segment profit declined $2 million while sales increased $157 million compared with the first nine months of 2012. In recent years, the company has invested significant sums … Continue reading Crown Holdings Reports Concerning Quarterly Results

Mark DeFranceLeave 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
Global Equity

Shutdowns No Problem Long Term For WPL

Woodside Petroleum reported reduced second-quarter production, after planned shutdowns of the Pluto LNG (liquefied natural gas) plant and North West Shelf (NWS) Train 2. However, production was below expectations after a subsequent unplanned shutdown at Pluto. Processing has since resumed, but not before a revision to 2013 group production guidance of 1% to 10%, from between 88 and 94 million barrels of oil equivalent (mmboe) … Continue reading Shutdowns No Problem Long Term For WPL

John BellichLeave a comment
Global Equity

STJ On Track to Hit Full Year Numbers

St. Jude Medical STJ released solid second-quarter results, and the firm remains on track to meet full-year projections. On the whole, the performance across St. Jude’s product segments are pleasing, and many are particularly heartened to see stability in implantable cardioverter defibrillator sales. After two years of soft demand following a published study that suggested overuse of ICDs, domestic demand fell off and we saw … Continue reading STJ On Track to Hit Full Year Numbers

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

Smith & Nephew Counters Soft 1Q Reconstructive Sales with Strength in Wound Management

Smith & Nephew SNN posted first-quarter results that were largely consistent with our expectations, and we are standing behind our fair value estimate of $58 per share. As we had suspected, the growth of reconstructive products slowed considerably as Smith & Nephew’s new product cycle is waning just as competitors are launching new products. Nonetheless, the firm plans to launch its new knee system later … Continue reading Smith & Nephew Counters Soft 1Q Reconstructive Sales with Strength in Wound Management

John MeadyLeave a comment
Global Equity

BOA Maintains Solid Second Quarter Numbers

Bank of America BAC reported net income of $4 billion, or $0.32 per diluted share, for the second quarter of 2013. The results were ahead of  expectations as the pace of change was faster than expected; however, the magnitude of improvements is not likely to result in a substantial increase  fair value. That said, Bank of America’s progress is encouraging and could result in fair … Continue reading BOA Maintains Solid Second Quarter Numbers

Adam KeintzelLeave a comment