Category: Services Sector

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

Thankfully, BG’s Earnings Report Uneventful

BG Group BG. reported largely uneventful first-quarter results with most key metrics in line with previous guidance, which provided a welcome respite from previous quarters’ downward production guidance revisions and budget overruns. Total operating profit fell to $2.1 billion from $2.3 billion the year before as lower production and higher operating costs and depreciation offset the benefit of higher realized gas prices. Production fell to … Continue reading Thankfully, BG’s Earnings Report Uneventful

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

RSA Releases 1Q Management Statement

RSA Insurance Group RSA released its first-quarter interim management statement, which contained a limited amount of information about its progress so far this year. Reported written premium growth was 7% across the group, due to a combination of acquired premiums and the positive impact of rate gains due to the improving insurance pricing market. The strength was driven, in particular, by growth in emerging markets … Continue reading RSA Releases 1Q Management Statement

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

BSkyB Reports Solid Fiscal Q3 Results; Maintaining Our Fair Value Estimate

British Sky Broadcasting BSYBY , known as BSkyB, reported solid fiscal third-quarter results. Revenue increased 7.8% year over year, bringing the nine-month result up 6%, spot on with our full-year projection. We are maintaining our fair value estimate and moat rating. The firm’s growth is being driven primarily by subscriber additions, particularly in its communication business where its broadband base improved 13.6% to 4.4 million, … Continue reading BSkyB Reports Solid Fiscal Q3 Results; Maintaining Our Fair Value Estimate

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

Weak Discretionary Spending in Europe Keeps Capgemini’s Growth in Check

Capgemini CAP reported first-quarter results that were largely in line with our expectations, and we are maintaining our EUR 39 fair value estimate and narrow moat rating for the company. Capgemini’s first-quarter revenue fell 1.7% to EUR 2.5 billion as the company’s cyclical businesses reported weak numbers amid sluggish economic conditions in Europe. The company’s results would have been worse if not for a stable … Continue reading Weak Discretionary Spending in Europe Keeps Capgemini’s Growth in Check

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

Sanofi Posts Slightly Weak First Quarter, but Wide-Moat Segments Continue to Perform Well

Sanofi SNY reported first-quarter results that fell short of both our and consensus expectations, but we don’t expect any significant changes to our fair value estimate for the company. Further, Sanofi’s wide moat divisions of diabetes, vaccines, consumer, and rare disease drugs posted solid gains, reaffirming our overall wide moat rating for the firm. Within diabetes (the company’s largest drug franchise), Lantus once again drove … Continue reading Sanofi Posts Slightly Weak First Quarter, but Wide-Moat Segments Continue to Perform Well

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

Vallourec Feels No Slowdown in Oil & Gas, Maintains Guidance After Strong Start to 2013

Vallourec maintained its guidance for 2013, even after a meaningful margin increase in the first quarter. The company generally reports lower profitability in the first quarter, with meaningful improvement in the second and third quarters. But with a 15.7% EBITDA margin to start the year, the company could be tracking well ahead of our fullyear forecast of 16.5%. Management was mum on whether the typical … Continue reading Vallourec Feels No Slowdown in Oil & Gas, Maintains Guidance After Strong Start to 2013

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