Category: Semiconductors

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

ARC Resources Outperforms in 1Q; Maintaining 2013 Outlook

ARC Resources reported earnings after the market close Wednesday. The firm exceeded our expectations for production levels and earnings thanks to favorable well results in the Cardium region and minimal gas plant downtime at Dawson. Production for the quarter averaged 95.4 thousand barrels of oil equivalent per day. In addition to the favorable operations in the Cardium and Dawson plays, additional gas processing capacity at … Continue reading ARC Resources Outperforms in 1Q; Maintaining 2013 Outlook

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

RenaissanceRe Tops All Earnings Estimates in the First Quarter

Excess capacity and a drop in growth for property-casualty reinsurance didn’t stop RenaissanceRe RNR from having a very profitable first quarter. RenaissanceRe reported a 22.5% annualized return on equity driven by a 36.2% combined ratio, despite a market where a rise in CAT bonds and less ceded risk from primary insurers is cutting into demand. Of course, it didn’t hurt that the first quarter was … Continue reading RenaissanceRe Tops All Earnings Estimates in the First Quarter

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

Soft Third-Quarter Volumes for Asciano, Except for Coal and Cars

Third-quarter fiscal 2013 volumes fell in Pacific National (PN) Rail and terminals & logistics, but grew in both PN Coal and bulk & automotive port services. PN Rail’s intermodal business continued to experience weak volumes with the key volume metric, net tonne kilometres, down 3.4% reflecting weaker economic conditions in eastern Australia. Fortunately, volumes in PN Rail’s bulk business improved following increases in the export … Continue reading Soft Third-Quarter Volumes for Asciano, Except for Coal and Cars

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

Mercury Posts Solid 1Q in Absence of Catastrophes

Mercury General MCY released a generally strong firstquarter report in the absence of large catastrophe or other claims losses. Operating income–which excludes realized investment gains and losses–was down 3.3% to $37.8 million, or $0.69 per share. The drop was primarily caused by a restructuring charge the firm took in order to streamline operations. While the results were stronger than is typical of the firm in … Continue reading Mercury Posts Solid 1Q in Absence of Catastrophes

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

LKQ Reports 1Q 2013, $0.01 Shy of Consensus, Makes European Acquisition; Maintaining our $19 FVE

Narrow-moat rated LKQ LKQ reported first-quarter 2013 earnings per share before special items of $0.28, one penny shy of the Street consensus but up $0.03 on a comparable basis from the same period last year. The company reported record revenue of $1.2 billion, up 15.9% from the first quarter of 2012. LKQ also reported that on April 23, it agreed to acquire Sator Beheer, a … Continue reading LKQ Reports 1Q 2013, $0.01 Shy of Consensus, Makes European Acquisition; Maintaining our $19 FVE

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

Wide-Moat OMA Posts Strong Start for 2013 but Offers Tepid Full-Year Guidance

Wide-moat Grupo Aeroportuario del Centro Norte (OMA) OMAB reported 4.6% year-over-year growth in passenger traffic during the first quarter of 2013, along with solid improvement in operating margins to 43.1% from 41.8%. Total sales improved 10.7% and was led by a 20.9% increase in nonaeronautical revenue, the fourth quarter of acceleration. The strong nonaeronautical sales result from OMA’s diversification activities over the last several years, … Continue reading Wide-Moat OMA Posts Strong Start for 2013 but Offers Tepid Full-Year Guidance

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