Category: Global Equity

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

Siemens Delivers Second-Quarter Results; Orders Improve on Large Project Wins

Siemens SI delivered mixed results in the second quarter as the company managed to hold income flat in light of declining revenue, but strong order growth offers some promise for the future. As is the case with typical quarters with the company, Siemens had several impairment and restructuring related charges in the second quarter that muted operating earnings, but free cash flow from operations increased … Continue reading Siemens Delivers Second-Quarter Results; Orders Improve on Large Project Wins

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

Infineon Delivers Better-than-Expected Second Quarter Results

Infineon Technologies IFNNY reported strong secondquarter results that were moderately ahead of our expectations, and we are maintaining our $8 fair value estimate and no-moat rating of the firm. Infineon sales grew 8% sequentially during the second quarter to EUR 918 million, largely driven by 12% sales growth to automotive customers. Infineon is optimistic that stronger-than-expected automotive sales could lead increased sales to car makers … Continue reading Infineon Delivers Better-than-Expected Second Quarter Results

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

BMW Races Past Street Consensus, Confirms Full-Year Guidance; Maintaining Our EUR 85 FVE

Narrow-moat, negative-moat-trend rated Bayerische Motoren Werke AG BMW reported better than expected first-quarter 2013 earnings per share results of EUR 1.99. This was EUR 0.22 ahead of the Street consensus EPS estimate of EUR 1.77, but EUR 0.06 below last year’s EUR 2.05 result. Demonstrating the reason for our narrow-moat rating, despite the decline in European volume and the competitive pricing in the region, BMW … Continue reading BMW Races Past Street Consensus, Confirms Full-Year Guidance; Maintaining Our EUR 85 FVE

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

Strong First-Quarter Results at Swiss Re

Swiss Re SREN had a very profitable first quarter, led by a 53% increase in its Property and Casualty segment on a year-over-year basis. The combined ratio in this segment was 70%, reflecting a dearth of catastrophe events and favorable reserve development which reduced the ratio by 8 points. Life and Health reinsurance net income improved slightly from last year while Corporate Solutions was up … Continue reading Strong First-Quarter Results at Swiss Re

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