FB Nasdaq FB Facebook

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…

Read More
FB Nasdaq FB Facebook

Buckeye Announces Acquisition of Hess’ Terminal Assets

Last week, Buckeye announced it has agreed to acquire Hess’ terminal assets spanning the East Coast and Caribbean for $850 million. The addition of 39 million barrels of storage increases Buckeye’s storage capacity by more than 50% to 112 million barrels and complements the partnership’s existing wide-moat footprint very well, in our view. In particular,…

Read More
FB Nasdaq FB Facebook

Snap-on Narrowly Beats Consensus Estimates

Snap-on reported third-quarter 2013 earnings per share of $1.43, nearly in line with the $1.42 EPS Street consensus estimate. Once again, the company was able to expand consolidated operating margin, which was 14.8% versus 13.5% last year, despite challenging operating conditions from anemic European economic conditions and reduced defense spending in the U.S. Our $105…

Read More

Tech News

Tech Analysis & Market News

Skip to content ↓