KPN Meets Street Expectations in Third Quarter
KPN reported third-quarter results that were generally in line with our expectations, and we are maintaining our fair value estimate and moat rating for now. While the firm has chosen to classify E-Plus, the German operation it agreed to sell to Telefonica, as a discontinued operation, we are including the division as we think there is still a significant chance that European regulators will not … Continue reading KPN Meets Street Expectations in Third Quarter
Roche’s Top-line Results on Track to Meet Guidance
Roche reported top-line results for the third quarter that put it on track to meet our expectations for the full year. Roche’s oncology drug portfolio and diagnostics segment form the basis of its personalized medicine strategy, feeding into the firm’s strong intangible assets and wide economic moat. At constant currencies, Roche’s sales were up 8% in the third quarter, with 9% pharmaceutical growth and 7% … Continue reading Roche’s Top-line Results on Track to Meet Guidance
Banco Bradesco Lowers Guidance on Slow Loan Growth
Banco Bradesco reported net income of BRL 3 billion (about $1.4 billion) for the third quarter. This was a 3.5% increase sequentially and 6.5% on a year-over-year basis. We are maintaining our narrow-moat rating and our fundamental outlook for the company at this time. Net interest income was BRL 11.7 billion, up 17% sequentially from BRL 10 billion and down 15% from BRL 13.8 billion … Continue reading Banco Bradesco Lowers Guidance on Slow Loan Growth
Sigma-Aldrich Posts Strong Numbers; Life Sciences Business Thrives
Sigma-Aldrich reported third-quarter results in line with our expectations. Management increased the lower end of its EPS outlook on a favorable tax benefit, which is generally consistent with our EPS estimate for the year. Regardless, the company’s low-single-digit revenue growth trajectory remains on track with our forecast, and we’re leaving our fair value estimate and economic moat rating unchanged. Sigma’s organic revenue grew 5% from … Continue reading Sigma-Aldrich Posts Strong Numbers; Life Sciences Business Thrives
Still-Weak European Paper Demand Weighed on UPM’s 1Q Results
Despite relatively steady performance from the energy and pulp segments, UPM’s quarterly EBITDA contracted 20% year over year; EBITDA from the paper business was nearly halved over the same period. As the world’s largest producer of graphic paper, UPM remains highly dependent on its paper business, where volume continues to decline–European magazine papers fell 6%, newsprint fell 3%, and fine papers fell 6%–and present significant … Continue reading Still-Weak European Paper Demand Weighed on UPM’s 1Q Results
Pay your tution fees in bitcoins
Cyprus University now allows their students to pay their tution fees in bitcoins. Critics say: after illegal drugs and pizza, now, you can buy an university degree.Read More >> Continue reading Pay your tution fees in bitcoins